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South Bend Redevelopment Commission <br />Regular Meeting —July 20, 2001 <br />6. NEW BUSINESS (CONT.) <br />c. (Continued...) <br />years, without abatement, would be <br />approximately $2,488,946. With abatement the <br />taxes would be approximately $1,025,999. <br />Therefore, the cost of the six year abatement <br />would be approximately $1,462,947. <br />Based on a projected project cost of $7,776,190 <br />the total estimated taxes on the project for ten <br />years, without abatement, would be <br />approximately $4,148,243 . With abatement the <br />taxes would be approximately $2,094,86324. <br />Therefore, the cost of the ten year abatement <br />would be approximately $2,053,380. <br />Mr. Uminski, Crowe, Chizek and Company, <br />said that this current expansion is one of several <br />expected for the future. They currently employ <br />430 people in their South Bend office and are <br />projecting to create an addition 150 new jobs <br />over the next six years. This office is the only <br />location where they own their facilities, they <br />lease all their other offices. <br />Upon a motion by Mr. Kahn, seconded by Mr. <br />Faccenda and unanimously carried, the <br />Commission approved Resolution No. 1841, an <br />application for a ten year real property tax <br />abatement for property located at 330 East <br />Jefferson Blvd. in the South Bend Central <br />Development Area. (Crowe, Chizek and <br />Company, LLP) <br />e. Staff report on disposition of property at 916 <br />South Michigan street in the Sample -Ewing <br />Development Area. (Parcel 33) <br />(Miami Auto Glass) <br />R <br />COMMISSION APPROVED RESOLUTION NO. 1841, <br />AN APPLICATION FOR A TEN YEAR REAL <br />PROPERTY TAX ABATEMENT FOR PROPERTY <br />LOCATED AT 330 EAST JEFFERSON BLVD. IN THE <br />SOUTH BEND CENTRAL DEVELOPMENT AREA. <br />(CROWE, CHIZEK AND COMPANY, LLP) <br />