My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
RM 11-02-79
sbend
>
Public
>
Redevelopment Commission
>
Minutes
>
1970-1979
>
1979
>
RM 11-02-79
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/5/2012 4:45:26 PM
Creation date
9/25/2012 1:04:07 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
18
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 Commission <br />Regular Mee �edevelopment <br />ing - November 2, 1979 <br />6. NEW BUSIINESS <br />d. continued... <br />Mr.l Robinson: If they own the whole thing can they get <br />to abatement on just part of the parcel? <br />Mr.l Nimtz: Yes. <br />Mr. Ellison: What are the intentions relative to the <br />balance of the parcel? <br />Mr. Szarwark: The plans are to sell it to other companies <br />interested in developing light industry on the spot. We <br />ho re this will be a mini- industrial park, Maybe we can <br />get two or three additional companies to come in and build <br />th it factories there. It has potential for developing <br />into a rather nice project. I think it will be in con - <br />so ance with what you are generally doing with the area. <br />It's a risk because it is a rather tough area of town and <br />we haven't been able to sell any of the parcels up to <br />this time. We hope that with the general redevelopment <br />of this area and growing interest of developing industry <br />in towns so the people don't have to use a lot of gas <br />to get to and from their place of employment, there <br />Will re renewed interest in this area. <br />Mr. Robinson: How long a period of time is this tax <br />abatement request for? <br />Mr. Szarwark: According to statute, the tax abatement <br />is for a ten year period. It will not affect the tax <br />dUE to the physical land itself, but the increase in <br />to due to improvements on the property will be abated <br />10C% for the first year, 95% for the second year, 80% <br />foy the third year and down to 5% for the tenth year. <br />Mr. Cira: What's the potential savings in ten years <br />on tax abatement for that project? <br />Mr. Szarwark: I don't know, it is difficult to tell <br />because the tax abatement dollar amount can be depen- <br />de t upon two things: (1) the eventual valuation of <br />th building; and (2) the tax rate. I don't believe <br />th tax rate has been set for the coming year. <br />Ms. <br />cui <br />i n! <br />Auburn: Refresh my memory, where are they located <br />rently? Are they out by the airport? Are they <br />ide the City Limit? <br />Q <br />
The URL can be used to link to this page
Your browser does not support the video tag.