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South Bend Redevelopment Commission <br />Regular Me ting - October 5, 1979 <br />6. NEW BUZINESS <br />h. cohtinued... <br />Mr. Szarwark (continues).:. For example, you <br />have to obtain appraisals of a property that may <br />be purchased. Under this situation, this is <br />obviously irrelevant, because we aren't going to <br />purchase property that is to be tax abated. What <br />is essentially necessary is a finding that this is <br />a "blighted °area, and I believe we can present <br />en ugh evidence to the Common Council to satisfy <br />it, and be able to make all the factual findings. <br />Mr. Nimtz: Do any other members of the Commission <br />have any questions they may wish to ask? <br />Ms. Auburn: The only question I had is one <br />yoj followed up on. I didn't know if it was <br />appropriate for the Redevelopment Commission to <br />act in an official capacity in land that we have <br />no jurisdiction over yet. I would like to hear <br />the staff's opinion. <br />Mr. Ellison: I think the Redevelopment Commission <br />sh uld take a position on any tax abatement request <br />that is made. <br />Ms. Auburn: I guess I don't have clear in my own <br />mind what criteria we need to look at for tax abatement. <br />I know in the "hole" project there is tremendous <br />employment impact. <br />Mr. Ellison: The statute assumes that in exchange for <br />an abatement which is an incentive to cause private <br />sector investment, the public receives employment and <br />related benefits. <br />Ms. Auburn: I understand that, but I believe that this <br />project can go through without the abatement. <br />Mr. Szarwark: It might, then again, it might not. <br />Essentially what you are talking about is that the <br />abatement is something that the developers have looked <br />into and that they intended to get. They assumed that <br />it would be granted. If the tax abatement is not granted, <br />it is going to increase the risks and it is going to <br />increase the difficulties of the project working financially. <br />Certainly, this is an incentive for them to come in and build. <br />If a feeling develops that the City is responsible for granting <br />this benefit, you will see other developers coming and giving <br />South Bend perhaps `a second or third look. <br />-12- <br />