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South Bend edevelopment Commission <br />Regular Meeting - August 10, 1984 <br />5. OLD BUSINESS (Cont.) <br />a. c:ominuea... <br />con trust a 14,400 s.f. building consisting of <br />two rental units with office and warehouse <br />space. The proposed project will create <br />twenty two (22) new, permanent jobs <br />representing a new annual payroll of $330,000. <br />The total estimated project cost is $350,000. <br />Con#ission approval is necessary because the <br />protect falls within a Tax Incremental <br />Fin cinq Allocation Area. <br />Mr. Kevin Butler, attorney for the petitioner, <br />appeared before the Commission. Mr. Butler <br />stated that Tech Centre Partnership is <br />dependent upon tax abatement due to the <br />co titive situation with other developers in <br />the Monroe Park Development Area who have <br />already received tax abatement for their <br />projects. Tech Centre Partnership has already <br />neg tiated a lease for a portion of their <br />building based on prior approval of tax <br />abatements in Monroe Park, and they are unable <br />to raise the rent. He also stated that <br />interest rates have gone up since the original <br />proposal was submitted and this is another <br />reason.for the application for tax abatement. <br />Upon a motion made by Mr. Donoho, seconded by <br />Mr. Piasecki and unanimously carried, <br />Resolution No. 713 related to an application <br />for real property tax deduction in the Monroe <br />Sample Development Area was approved. <br />6. NEW BUS <br />a. Commission <br />for proposals <br />and Orants in connection with the Emeraencv <br />Name <br />Aqui la Barnes <br />607 Howard <br />accordance with the <br />m the Bureau of Housing. <br />Contractor <br />Jurtin's Construction Co. <br />Samu 1 Smith <br />138 4. Pennsylvania <br />Bockaj Construction Co. <br />-3- <br />COMMISSION APPROVED RESOLUTION <br />NO. 713 RELATED TO AN APPLI- <br />CATION FOR REAL PROPERTY TAX <br />DEDUCTION IN THE MONROE <br />SAMPLE DEVELOPMENT AREA <br />ant <br />$600.00 <br />$790.00 <br />