No. 1121 approving an application for real property tax deduction (Policemen's Federal Credit Union, 1130 S. Main St.)

Home Browse Search

City of South Bend Joseph E. Kernan, Mayor Department of Economic Development Jon R. Hunt Executive Director MEMORANDUM Ann E. Kolata Deputy Executive Director TO: HUMAN RESOURCES COMMITTEE OF THE SOUTH BEND COMMON COUNCIL FROM: DEPARTMENT OF ECONOMIC DEVELOPMENT - MICHAEL BEITZINGERp_ft SUBJECT: TAX ABATEMENT PETITION POLICEMEN'S FEDERAL CREDIT UNION 1130 SOUTH MAIN STREET DATE: DECEMBER 4, 1992 On November 25, 1992, a petition for tax abatement consideration for real property located at 1130 South Main Street was filed with the City Clerk by the Policemen's Federal Credit Union. Pursuant to Chapter 2, Article 6, Section 2 -77 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1- 12.1 -1 and whether all zoning requirements have been met. The Department of Economic Development has reviewed the petition (a copy of which is attached), investigated the area and makes the following report. PROJECT DESCRIPTION The petitioner proposes to construct a 4,500 square foot building at the corner of Main and Stull Streets. The building itself will be 3,800 s.f. with a 700 s.f. canopy over the drive -thru teller lanes. This will be the new headquarters of the Credit Union, which has to move from its former home at 815 S. Lafayette Street as part of the Studebaker Corridor project. This location will be the only operating office of the Credit Union. The total cost of construction is estimated at $403,000. 1200 County -City Building • South Bend, Indiana 46601 • 219/235 -9371 Fax 219/235 -9021 Redevelopment Business Assistance Housing Rehabilitation Ann Kolata & Development Kathryn Baumgartner 235 -9371 Donald Inks 521 Eclipse Place 235 -9335 235 -9475 CDBG Program & Financial Management Elizabeth Leonard 235 -9335 Planning & Neighborhood Development Pamela Meyer 235 -9449