My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
08-04-06 Redevelopment Commission Minutes Minutes
sbend
>
Public
>
Redevelopment Commission
>
Minutes
>
2000-2009
>
2006
>
08-04-06 Redevelopment Commission Minutes Minutes
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/13/2007 1:18:39 PM
Creation date
12/11/2007 4:48:39 PM
Metadata
Fields
Template:
General
Date
8/4/2006
Document Relationships
08-04-06 Agenda
(Superseded by)
Path:
\Public\Redevelopment Commission\Agendas & Packets\2006
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
16
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
South Bend Redevelopment Commission <br />Regular Meeting -August 4, 2006 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />() continued... <br />South Bend Chocolate has not had any <br />previous tax abatements. The property is <br />properly zoned for the proposed use. The <br />property is in the South Bend Central <br />Development Area which is a Tax Increment <br />Allocation Area; therefore, the petition for <br />real property tax abatement must first be <br />approved by the South Bend Redevelopment <br />Commission. The project meets the <br />qualifications for afive-year real property tax <br />abatement under the tax abatement <br />ordinance. <br />The project is expected to cost between <br />$750,000 and $1,250,000. With a project <br />cost of $750,000, the cost of the abatement is <br />estimated as follows: <br /> Estimated Taxes <br /> Over 5 Yrs <br />Without Abatement $128,610 <br />With 5 Yr <br />Abatement $51,444 <br />Estimated Cost of 5 <br />Yr Abatement $77,166 <br />With a project cost of $1,250,000, the cost of <br />the abatement is estimated as follows: <br /> Estimated Taxes <br /> Over 5 Yrs <br />Without Abatement $214,350 <br />With 5 Yr <br />Abatement $85,740 <br />Estimated Cost of 5 <br />Yr Abatement $128,610 <br />6 <br />
The URL can be used to link to this page
Your browser does not support the video tag.