RM 06-27-90 - Laserfiche WebLink

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VOO R, , FEDDER, HERENDEEN 8 KOWALS June 2I5, 1990 Page T o. The Credit Union was constructed only after obtaining permits from the City of South Bend with the knowledge of the Redevelopment Commission with the appropriate inspections, plans and the like. 4. TENURE. After acquisition, the Credit Union moved into its new facility and has been there for two and a half (2 1/2) years. 5. TAX ABATEMENT. As further inducement to the Credit Union, the Credit Union was afforded a three (3) year Tax Abatement Package. 6. CORRIDOR PLAN. Prior to the acquisition of the property by the Credit Union as well as during the time of the reconsideration of the Studebaker Corridor Development the Credit Union has numerous discussions with the director and the staff of the Redevelopment Commission. The Credit Union was advised that the Corridor improvement was going to be a two (2) phase plan with the Credit Union falling into Phase Two (2) which would have excluded it from the present acquisition list. The explanation was that since that was a new building, well located and the first improvement in the Corridlor, it should be given Phase Two (2) Consideration. 7. COST. To include the Credit Union property on the acquisition list would mean the expenditure of a substantial amount of money for the property, together with relocation costs, business interruption expenses, all of which have no foundation in logic. It was proposed that the credit Union moved Thirty -Five (35) feet, namely, across the street. Such e penditures cannot be justified and are not realistic. 8. CORRIDOR PLAN. The property of the Credit Union includ s a new building, Zoned Manufacturing with an improv d lot. The building of the Credit Union was the first investment in the Corridor and the first improvement in the vicinity for many years. It would be the position of the C edit Union that they should be rewarded for its Pionee effort rather than to be included in acquisition and destru tion.