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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 />the Sample-Ewing Development Area. (Lock <br />Joint Tube) <br />(2) Commission approval requested for <br />Resolution No. 2258 approving an <br />application for real property tax deduction <br />for property located in the Airport <br />Economic Development Area. (Huron <br />Partners) <br />Mr. Schalliol gave the staff report on the <br />project. He noted that this presentation is in <br />anticipation of the property being added to <br />the Airport Economic Development Area. A <br />later item on the Commission agenda will <br />start the process to expand the AEDA to <br />include this property. <br />Huron Partners will be constructing a <br />$5,000,000 development known as the <br />"Huron." It is a 148,000 sft light industrial <br />building that will house multiple tenants <br />performing a variety of business functions <br />such as a medical supply company, data <br />storage or printing. The building will be <br />constructed using pre-cast concrete panels. It <br />will be the first improvement of the Portage <br />Prairie project, which is expected to generate <br />over $350 million in private investment. It is <br />extremely important that the first building be <br />successful, as it will provide momentum for <br />the Portage Prairie project, which has an <br />expected build out of 12 to 15 years. <br />Because of the nature of the building, there <br />aren't employment projections for the <br />12 <br />