RM 10-16-92 - Laserfiche WebLink

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South Bend Redevelopment Commission egular Meeting - October 16, 1992 6. NEW BUSINESS (Cont.) j. continued... With abatement, the taxes are estimated to be $70,155. Therefore, the cost of the abatement is approximately $99,574 over the six year period. Mr. Mangus, Environmental Health Labs, noted that the company began five years ago with three employees. They now have 38 employees. The principles have invested one million dollars in equipment. Although they are a small laboratory, they are very sophisticated technologically. They do work nation wide, bringing money into this area. Upon a motion by Mr. Piasecki, seconded by Mr. Donoho and unanimously carried, the Commission approved Resolution No. 1108 approving an application for ,zIN, real property tax deduction for property located at 110 S. Hill Street in the South Bend Central Development Area. k. Commission approval requested for Lease with Policemen's Federal Credit Union. Ms. Manier explained that we closed on the Policemen's Federal Credit Union building on October 15. They are not ready to vacate the site, so we are entering into a lease agreement, allowing them to remain in the current location until June 30, 1993. The rental rate is minimal, but they are required to maintain the site. Upon a motion by Mr. Piasecki, seconded by Mr. Donoho and unanimously carried, the Commission approved the Lease with Policemen's Federal Credit Union. 1. Commission approval requested for Contract with Cole Associates for environmental services in the Studebaker Corridor Development Area. 6V vbo� Mr. Pocius explained that the Cole contract is for industrial hygiene -10- COMMISSION APPROVED RESOLUTION NO. 1108 APPROVING AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION FOR PROPERTY LOCATED AT 110 S. HILL STREET IN THE SOUTH BEND CENTRAL DEVELOPMENT AREA COMMISSION APPROVED THE LEASE WITH POLICEMEN'S FEDERAL CREDIT UNION