Laserfiche WebLink
South Bend edevelopment Commission <br />Regular Meeting - January 10, 1992 <br />6. NEW BUSZESS (Cont.) <br />b. continued... <br />C. <br />Mr. Fonash noted that Bangor <br />Refrigeration asked for and received 10 <br />years of real property abatement earlier <br />this fall for the building addition where <br />this equipment will be located. <br />Mr. Voss of Bangor Refrigeration <br />exp ained that Bangor is coming up with <br />new, specially -made products. They <br />anticipate increased sales due to these <br />new product lines. <br />Mr. Doncho asked if Bangor has been able <br />to crease employment based on the real <br />prqDerty abatement granted previously. <br />Mr. Voss responded that this new <br />equipment is tied to that expansion and <br />the new jobs have not been realized yet. <br />The thirty jobs referenced in this <br />app ication are the same 30 jobs <br />ref renced in the real property abatement <br />Upai a motion by Mr. Piasecki, seconded <br />by 14s. Huddleston and unanimously <br />carried, the Commission approved <br />Resolution No. 1034 approving an <br />application for personal property tax <br />dediction for property located at 3620 W. <br />McGill Street in the Airport Economic <br />Dem�lcpment Area. (Bangor Refrigeration <br />Co . ) <br />Ms. Manier explained that last spring the <br />Ccmnission approved a Rental Rehab Loan <br />for the Historic Dunbar Corner Project. <br />That was part of the financing used for <br />the project. A circumstance arose in the <br />pri:rate financing that necessitated <br />restructuring one of the private loans. <br />Sou Bend Heritage is now contributing a <br />$150,000 loan to the project. That loan <br />is the subject of this Consent. The <br />C ssion's loan was conditioned on the <br />M <br />CO�MSSION APPROVED RESOLUTION <br />NO. 1034 APPROVING AN APPLICATION <br />FOR PERSONAL PROPERTY TAX <br />DEDUCTION FOR PROPERTY LOCATED AT <br />3620 W. KDGILL IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA <br />