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South Bend evelopment Commission <br />Regular Meeting - September 28, 1990 <br />5. OLD BUSUESS (Cont.) <br />6. <br />a. conrinuea... <br />a. <br />Mrs I Kolata stated that the project is in <br />the Airport Economic Development Area <br />whi is a tax increment finance area. <br />To clarify on the real property tax <br />Red velcument Commission <br />abateTmt, the addition itself does not <br />mee the minimum square footage standard <br />for the property tax abatement but the <br />pro ject as a whole surpasses the <br />recparement. We have talked with Steve <br />lue,,ke who is Chairman of the Human <br />R urces and Economic Development <br />Cam 'ttee of the Common Council who will <br />the final determination as to <br />whe er or not the real and personal <br />property tax abatement should be <br />granted. You are sinply allowing it <br />within the tax increment finance area. <br />The Council would make the final <br />debnmination on the abatement. <br />Mr. Piasecki asked if Nimet Industries <br />has received abatement before. <br />Mrs Kolata stated that had not received <br />abatement previously. <br />Ms. 10,000 Robinson stated that the entire <br />pro eat they are undertaking is in excess <br />of square feet. <br />a motion made by Mr. Piasecki and <br />ded by Mr. Donoho and unanimously <br />ed, the Commission approved <br />ution No. 948 approving an <br />cation for real and personal <br />rty tax abatement for Nimet <br />tries located at 2424 N. Foundation <br />in the Airport Economic Development <br />-4- <br />Ma <br />Id <br />01 i •r0a • •1 <br />