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RM 01-25-85
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RM 01-25-85
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South Bend <br />Regular Meg <br />6. NEW BU. <br />c. Co: <br />elopment Commission <br />- January 25, 1985 <br />(Cont.) <br />Mrs. Kolata explained that Resolution No. 728 <br />inv lved a tax abatement petition for the <br />par Ring garage to be built in conjunction with <br />the Teachers Credit Union project. Due to the <br />nature of the lease that the Redevelopment <br />Cormission has with Teachers Credit Union for <br />the garage, it appears that Teachers Credit <br />Union will be liable for taxes on the <br />prorerty. Therefore, Teachers Credit Union is <br />petitioning for tax abatement, and the <br />Redevelopment Commission is being asked to <br />co-sign on the petition. <br />Ms. Hedy Robinson gave a description of the <br />pro ect. The City proposes to construct a <br />two level, 109 space parking facility <br />diately east of the proposed new office of <br />Teachers Credit Union. Upon completion of the <br />parking facility, the City will lease the <br />facility to Teachers Credit Union pursuant to <br />a forty (40) year lease with an option to <br />purchase. The total estimated project cost <br />will be $874,000. <br />Upon a motion made by Mr. Donoho, seconded by <br />Ms. Auburn and unanimously carried, the <br />Con-mission approved Resolution No. 728 <br />approving an application for real property tax <br />..• . .•. <br />There wore no progress reports. <br />8. NEXT COMMISSION MEETING <br />Im <br />The ne Regular Meeting of the Commission <br />Will be held on Friday, February 8, 1985 at <br />10:00 a m. <br />There <br />the 0 <br />the m <br />the m <br />The m <br />no further business to come before <br />ion, Mr. Combs made a motion that <br />be adjourned. Mr. Doncho seconded <br />and it was unanimously carried. <br />was adjourned at 10:20 a.m. <br />COMMISSION APPROVED <br />RESOLUTION NO. 728 <br />APPROVING AN APPLICATION <br />FOR REAL PROPERTY TAX <br />DEDUCTION <br />NO PROGRESS REPORTS <br />NEXT COMMISSION MEETING <br />. Hunt, Executive <br />
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