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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -November 2, 2007 <br />6. NEW BUSINESS <br />A. Public Hearing <br />(7) continued... <br />thirty eight years and an appraiser for the last <br />twenty. And all of these wonderful <br />acquisitions are becoming non-taxable. <br />Fifty-five percent of the city is non-taxable? <br />That's crazy. And, worried about parking <br />lots, those evil parking lots and used car lots. <br />Those evil used car lots pay taxes and <br />support the city. We own five pieces of that <br />proposed squaring off. I have no idea what <br />it's going to do for us. It'll probably raise <br />our taxes. But, Gates loves this because you <br />people are going to line up and buy their <br />property, which they can't give away. <br />Because the city owns so damn much of <br />downtown, the public doesn't have a right. <br />And city ownership of private real estate <br />isn't. And I own some of those evil parking <br />lots. He gets to look out of his twelfth story <br />penthouse at my parking lot. They only pay <br />$3,000-$4,000 a year in taxes. They <br />wouldn't pay a damn thing if the city owned <br />them. We've been there for twenty years and <br />all we get is taxes, taxes, taxes, taxes. And I <br />don't see where this "squaring offl' is going <br />to do one thing for our property. We're <br />going to subsidize LePeep? They knew what <br />the rate was when they took the lease. I' m <br />against this whole squaring off bit. <br />MR. GIBNEY: Are you against a <br />comprehensive plan, a strategic plan? I <br />know your property has been on the market <br />for sale for decades. <br />MR. MEDHURST: It's not now. It's worth <br />three quarters of a million dollars. You want <br />37 <br />