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South Bend evelopment Commission <br />Rescheduled I Regular Meeting - December 7, 1990 <br />C•V <br />C. <br />51k <br />Mrs Kolata noted that 202 Western Avenue <br />is on the southwest corner of Western <br />Avenue and Lafayette Street. The owner, <br />Bri&zwood South Bend Partnership, applied <br />for and received tax abatement for the <br />sou portion of the property where <br />Soc al Security plans to relocate their <br />off, ces. The owner wishes to <br />reh Lbilitate the building on the corner <br />of the property. Once completed, <br />E sp "tely one half of the space will <br />ied by ADT Security Systems. The <br />t ted project Cost is $150,000. The <br />prolexty is properly zoned for the <br />prolxzed use. The property is located in <br />a tc ix abatement impact area and in a tax <br />in tal finance allocation area. The <br />pet tioner qualifies for three years of <br />real property tax abatement under the tax <br />aba t ordinance. Based on a total <br />pro eat cost of $150,000, the taxes over <br />the three year period are estimated at <br />$17,445. With abatement, the petitioner <br />will. pay an estimated $5,873. Therefore <br />the amount of the abatement is estimated <br />to le $11,572. <br />Upon a motion by Mr. Ccubs, seconded by <br />Mr. Piaser-ki and unanimously carried, the <br />'ssion approved Resolution No. 966 <br />app ing three years of real property <br />tax deduction for property located at 202 <br />Wes Avenue. <br />Mrs. Kolata noted that the staff has been <br />working with Dan Pierotti to implement <br />the first phase of the Entertairment <br />District. The City of South Bend, <br />-5- <br />COMMISSION A• • - • E• RESOUMON <br />• APFROVIM AN APKICATION <br />WESTERN FOR REAL PROPERTY TAX DEDUCITON <br />FOR PROPERrY IDCATED AT 202 <br />