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South Bend 4edevelopment Commission Regular Mee ing - July 11, 1980 6. NEW BUS b. continued.... Mr. Robinson made a motion to app ove the ancillary agreements relative to Disposition Parcels No(s) 4 -1, 4 -31, and 4 -32 in Ind. R -66 Project Area, seconded by Mr. Cira, and the motion was unanimously c. Tax Abatement request relative to an area commonly referred to:as Beacon Heights. Mr. Ellison: On June 27, 1980 a petition was filed with the City Clerk, for a tax abatement request for Beacon Hei hts which is a multi- family, World War II type housing project on Ardmore Trail built in the early 40's. It is pro osed to be substantially rehabili- tat d with some additional units added to the area. The staff undertook inves- tigation and in the report recommended that the Commission find that the area qualifies as an urban development area for reasons of condition and other impairments of development. The report notes that Gibbons - Grable of Canton, Ohio is the petitioner in this case. Gibbons- Gra le is the company that developed Karl King Towers on Block 6 and owns other real estate ventures around the country. Gibbons- Grable intends to purchase Beacon Heights in its current con ition for $625,000.00. They will then use Section 8 assistance to substantially rehabilitate the project and to do 150 units of mixed size and construct 24 more units. The reason that the need to construct 24 new units is that they are specifically seeking to avoid any displacement of lower income house- holds that currently occupy the project area. They intend to first construct 24 new units and then move the families fro units to be rehabilitated into new uni s, rehabilitate those units and then move the families back. 16 ANCILLARY AGREEMENTS RELATIVE TO DISPOSITION PARCELS NO(S) 4 -1, 4 -31, AND 4 -32 IN IND. R -66 APPROVED BY THE COMMISSION