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South Bend Redevelopment Commission <br />Regular Meeting—September 7, 2001 <br />6. NEW BUSINESS (CONT.) <br />a. Continued... <br />abatement, would be approximately <br />$238,027. With a five year personal <br />property tax abatement the taxes would be <br />approximately $81,469. Therefore, the cost <br />of the five year personal property tax <br />abatement would be approximately <br />$156,558. <br />2) Based on a projected equipment costs of <br />$4,500,000 the total estimated taxes on the <br />personal property investment, without <br />abatement, would be approximately <br />$465,706. With a five year personal <br />property tax abatement the taxes would be <br />approximately $159,396. Therefore, the <br />cost of the five year personal property tax <br />abatement would be approximately <br />$306,310. <br />Upon a motion by Mr. Kahn, seconded by <br />Ms. Jones and unanimously carried, the <br />Commission approved Resolution No. 1844, an <br />application for five year personal property tax <br />abatement for property located at 2722 West <br />Tucker Dr. in the Sample -Ewing Development <br />Area. (Steel Warehouse, A & F Realty, and <br />Nathan Lerman Trust) <br />b. Commission approval requested for <br />Resolution No. 1845, an application for a ten <br />year real property tax abatement for <br />property located at 2722 West Tucker Dr. in <br />the Sample -Ewing Development Area. (Steel <br />Warehouse, A & F Realty, and Nathan <br />Lerman Trust) <br />VA <br />COMMISSION APPROVED RESOLUTION NO. 1844, <br />AN APPLICATION FOR PERSONAL PROPERTY TAX <br />ABATEMENT FOR PROPERTY LOCATED AT 2722 <br />WEST TUCKER DR. IN THE SAMPLE -EWING <br />DEVELOPMENT AREA. (STEEL WAREHOUSE,A <br />& F REALTY, AND NATHAN LERMAN TRUST) <br />