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04-15-02 Redevelopment Commission Minutes
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04-15-02 Redevelopment Commission Minutes
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South Bend Redevelopment Commission <br />IL Special Meeting —April 15, 2002 <br />6. NEW BUSINESS (CONT.) <br />B. Sample -Ewing Development Area <br />(5) continued... <br />Upon a motion by Mr. Faccenda, <br />ILI seconded by Ms. Jones and unanimously <br />carried, the Commission approved <br />Resolution No. 1885 approving an <br />application for real property tax <br />deduction for property located at the <br />corner of Sample and Olive in the <br />Sample -Ewing Development Area. <br />(South Bend Redevelopment <br />Commission for the benefit of the AJW <br />South Bend Realty Corp.) <br />Mr. Inks requested that the meeting be recessed <br />for approximately fifteen minutes to await the <br />Redevelopment staff report on the bid received <br />from AJW South Bend Realty Corp. for 70.95 <br />acres of property located on the corner of <br />Sample & Olive streets. <br />There were no objections and the meeting was <br />recessed at 10:16 a.m. <br />Mr. Hunt reconvened the meeting at 10:22 a.m. <br />11 <br />COMMISSION APPROVED RESOLUTION NO. 1885 <br />APPROVING AN APPLICATION FOR REAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT THE CORNER OF SAMPLE AND OLIVE <br />IN THE SAMPLE -EWING DEVELOPMENT AREA. <br />(SOUTH BEND REDEVELOPMENT COMMISSION <br />FOR THE BENEFIT OF THE AJW SOUTH BEND <br />REALTY CORP.) <br />MEETING RECESSED <br />MEETING RECONVENED <br />Estimated taxes <br />over 10 years <br />Without <br />$5,761,308 <br />Abatement <br />With 10 year <br />$2,909,460 <br />Abatement <br />Estimated cost <br />$2,851,847 <br />of 10 year <br />abatement <br />Upon a motion by Mr. Faccenda, <br />ILI seconded by Ms. Jones and unanimously <br />carried, the Commission approved <br />Resolution No. 1885 approving an <br />application for real property tax <br />deduction for property located at the <br />corner of Sample and Olive in the <br />Sample -Ewing Development Area. <br />(South Bend Redevelopment <br />Commission for the benefit of the AJW <br />South Bend Realty Corp.) <br />Mr. Inks requested that the meeting be recessed <br />for approximately fifteen minutes to await the <br />Redevelopment staff report on the bid received <br />from AJW South Bend Realty Corp. for 70.95 <br />acres of property located on the corner of <br />Sample & Olive streets. <br />There were no objections and the meeting was <br />recessed at 10:16 a.m. <br />Mr. Hunt reconvened the meeting at 10:22 a.m. <br />11 <br />COMMISSION APPROVED RESOLUTION NO. 1885 <br />APPROVING AN APPLICATION FOR REAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT THE CORNER OF SAMPLE AND OLIVE <br />IN THE SAMPLE -EWING DEVELOPMENT AREA. <br />(SOUTH BEND REDEVELOPMENT COMMISSION <br />FOR THE BENEFIT OF THE AJW SOUTH BEND <br />REALTY CORP.) <br />MEETING RECESSED <br />MEETING RECONVENED <br />
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