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14 <br />South Bend Redevelopment Commission <br />Regular Meeting —July 19, 2002 <br />qualifications for a ten year real property tax <br />abatement. <br />Based on a total project cost of $12,000,000 <br />the cost of the tax abatement is as follows: <br />Mr. John Devereaux of Project Future <br />advised that the site selection process with <br />Tech Data actually began in September <br />2000. Due to economic conditions at that <br />time, Tech Data chose to delay the project <br />and to extend their existing lease. In <br />January 2002, Tech Data had expressed a <br />strong interest in staying in South Bend, but <br />had concerns involving logistics and how to <br />best serve their customers. Other locations <br />considered by Tech Data included <br />Columbus, Ohio; Indianapolis, Indiana; and <br />a suburb of Chicago, Illinois. <br />Mr. Devereaux noted that Project Future <br />worked with UPS and also presented to Tech <br />Data a study indicating which area would <br />best serve them. Tech Data decided to <br />remain in South Bend. <br />Upon a motion by Mr. Faccenda, seconded <br />5 <br />COMMISSION APPROVED RESOLUTION NO. 1896 <br />APPROVING AN APPLICATION FOR REAL <br />Estimated <br />taxes over <br />10 years <br />Without <br />$3,866,982 <br />Abatement <br />With 10 -year <br />$1,952,826 <br />abatement <br />Estimated cost <br />$1,914,156 <br />of 10 -year <br />abatement <br />Mr. John Devereaux of Project Future <br />advised that the site selection process with <br />Tech Data actually began in September <br />2000. Due to economic conditions at that <br />time, Tech Data chose to delay the project <br />and to extend their existing lease. In <br />January 2002, Tech Data had expressed a <br />strong interest in staying in South Bend, but <br />had concerns involving logistics and how to <br />best serve their customers. Other locations <br />considered by Tech Data included <br />Columbus, Ohio; Indianapolis, Indiana; and <br />a suburb of Chicago, Illinois. <br />Mr. Devereaux noted that Project Future <br />worked with UPS and also presented to Tech <br />Data a study indicating which area would <br />best serve them. Tech Data decided to <br />remain in South Bend. <br />Upon a motion by Mr. Faccenda, seconded <br />5 <br />COMMISSION APPROVED RESOLUTION NO. 1896 <br />APPROVING AN APPLICATION FOR REAL <br />