RM 01-25-85 - Laserfiche WebLink

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