Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting November 3, 2006 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />() continued... <br />The estimated project cost is $600,000. The <br />project is expected to create 20 new <br />permanent full-time jobs representing a new <br />annual payroll of $1,000,000. The project <br />will also maintain 3 0 existing full-time <br />positions with an annual payroll of <br />$1,300,000. Estimated taxes to be abated <br />over the four year period are $51,270. The <br />total taxes to be paid during the four-year <br />abatement period are estimated at $30,762. <br />Upon a motion by Mr. Hojnacki, seconded <br />by Mr. Downes and unanimously carried, the <br />Commission approved Resolution No. 2278 <br />approving an application for real property tax <br />deduction for property located at 3300 North <br />Kenmore St. in the Airport Economic <br />Development Area. (Elkhart Plastics, Inc.) <br />B. Housing <br />(1) Commission approval requested for Loan <br />and Grant in connection with the South <br />Bend Home Improvement Program for <br />property located at 618 E. Dubail Street. <br />(Betty M. Cassler) <br />Mr. Schalliol noted that the amount of the <br />loan is $4,250; the amount of the grant is <br />$12,500. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission approved the Loan and Grant in <br />connection with the South Bend Home <br />Improvement Program for property located at <br />618 E. Dubail Street. (Betty M. Cassler) <br />COMMISSION APPROVED RESOLUTION N0.2278 <br />APPROVING AN APPLICATION FOR REAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 3300 NORTH KENMORE ST. IN THE <br />AIRPORT ECONOMIC DEVELOPMENT AREA. <br />(ELKHART PLASTICS, INC.) <br />COMMISSION APPROVED THE LOAN AND GRANT <br />IN CONNECTION WITH THE SOUTH BEND HOME <br />IMPROVEMENT PROGRAM FOR PROPERTY <br />LOCATED AT 618 E. DUBAIL STREET. BETTY M. <br />CASSLER) <br />5 <br />