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A <br />A <br />South Bend Redevelopment Commission <br />Regular Meeting— December 6, 2002 <br />6. NEW BUSINESS <br />B. Tax Abatements <br />(2) continued... <br />Based on a total estimated equipment cost of <br />$250,000 the cost of the personal property <br />tax abatement is as follows: <br />Upon a motion by Mr. Kahn, seconded by <br />Ms. Jones and unanimously carried, the <br />Commission approved Resolution No. 1927 <br />approving an application for personal <br />property tax deduction for property located <br />at 1850 N. Sheridan Avenue in the Airport <br />Economic Development Area. (Advantage <br />Puck Technologies) <br />C. Housing <br />(1) Commission approval requested for <br />Subordination Agreement between the <br />City of South Bend on behalf of its <br />Bureau of Housing and Claudia J. Alkire. <br />Ms. Greene reported that the Subordination <br />Agreement is related to a mortgage executed <br />by Claudia J. Alkire through the Bureau of <br />Housing. The Commission, on behalf of the <br />14 <br />COMMISSION APPROVED RESOLUTION NO. 1927 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 1850 N. SHERIDAN AVENUE IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA. <br />(ADVANTAGE PUCK TECHNOLOGIES) <br />Estimated taxes <br />over five years <br />Without abatement <br />$42,707 <br />With 5 -yr abatement <br />$13,779 <br />Estimated cost of five <br />year abatement <br />$28,928 <br />Upon a motion by Mr. Kahn, seconded by <br />Ms. Jones and unanimously carried, the <br />Commission approved Resolution No. 1927 <br />approving an application for personal <br />property tax deduction for property located <br />at 1850 N. Sheridan Avenue in the Airport <br />Economic Development Area. (Advantage <br />Puck Technologies) <br />C. Housing <br />(1) Commission approval requested for <br />Subordination Agreement between the <br />City of South Bend on behalf of its <br />Bureau of Housing and Claudia J. Alkire. <br />Ms. Greene reported that the Subordination <br />Agreement is related to a mortgage executed <br />by Claudia J. Alkire through the Bureau of <br />Housing. The Commission, on behalf of the <br />14 <br />COMMISSION APPROVED RESOLUTION NO. 1927 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 1850 N. SHERIDAN AVENUE IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA. <br />(ADVANTAGE PUCK TECHNOLOGIES) <br />