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South Bend fZedevelopment Commission <br />Regular Mee ing - July 27, 1990 <br />6. NEW BUSnTFSS (Cont.) <br />g. con-pLnuea... <br />d. With abatement it is estimated <br />the owner will pay $48,943 in <br />Therefore, the amount to be <br />d is approximately $47,977. <br />Mr. Donoho asked if the project cost, <br />$250,000 was low. Mrs. Kolata responded <br />that the $250,000 is for improvements to <br />the real estate, mostly exterior. The <br />total project cost is closer to <br />$3, 00,000, but the rest of the <br />imp ements are considered personal <br />P and are inside the building. <br />Mr. Combs asked how they qualify for a <br />ten year abatement. Ms. Robinson <br />responded that the City Council ordinance <br />for downtown retail space is based on <br />sqwtre footage. <br />Mrs Kolata noted that the exterior will <br />be it limestone and glass front, with <br />drprit on the upper levels. The entrance <br />to the nightclub will be on the north <br />side of the building, in what is now an <br />all y way between the Penney's building <br />and the State Theatre. She noted that <br />the owners have obtained approval from <br />the Design Review Conmiittee. <br />Ms. Auburn asked if the Commission could <br />see a drawing of the proposed exterior. <br />Mrs Kolata responded that we could get <br />a motion made by Mr. Doncho, <br />ded by Mr. Combs and unanimously <br />ed, the Commission approved <br />ution No. 950 approving an <br />cation for real property tax <br />tion for property located at 220 S. <br />gan Street (Meanwhile...). <br />-11- <br />COMNBSSION APPROVED RESOLUTION <br />NO. 950 APPROVING AN APPLICATION <br />FOR REAL PROPERTY TAX DEDUCTION <br />FOR PROPERTY LOCATED AT 220 S. <br />MICHIGAN STREET (DEANWfIILE... ) <br />