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South Bend Redevelopment Commission <br />Regular Meeting -July 21, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />continued... <br />full-time jobs with an annual payroll of <br />$1,352,000. <br />Lock Joint Tube has received four real <br />property tax abatements and six personal <br />property tax abatements since 1992. They <br />are incompliance with all reporting <br />requirements for those abatements. The <br />property is properly zoned for the proposed <br />project. The property is located in the <br />Sample-Ewing Development Area; therefore, <br />a tax abatement must first be approved by the <br />Redevelopment Commission. The project <br />qualifies for five years of personal property <br />tax deduction under the tax abatement <br />ordinance. <br />Mr. Schalliol noted, again, that Lock Joint <br />Tube is in the Urban Enterprise Zone (UEZ) <br />and could qualify for a new state-authorized <br />UEZ tax abatement as well as the city- <br />sponsoredreal property abatement due to its <br />location in the Sample-Ewing Development <br />Area. The two areas overlap and there is a <br />potential for "double-dipping." Going <br />forward, the City intends to take action to <br />prevent "double-dipping." Lock Joint Tube <br />has helped the City write this legislation and <br />will be the first to be affected by it. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission approved Resolution No. 2257 <br />approving an application for personal <br />property tax deduction for property located in <br />COMMISSION APPROVED RESOLUTION N0.2257 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED IN THE SAMPLE-SWING DEVELOPMENT <br />AREA. (LOCK JOINT TUBE) <br />11 <br />