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South Bend Redevelopment Commission <br />Regular Meeting - February 19, 1993 <br />6. NEW BUSINESS (Cont.) <br />L continued... <br />Szarwark responded that the project will <br />last more than ten years after renovation. <br />The $750,000 investment is well over the <br />$100,000 requirement established by the <br />ordinance for a ten -year abatement. <br />Mr. Donoho asked if the project would go <br />forward without abatement. Mr. Szarwark <br />did not know the answer to that question. <br />Upon a motion by Mr. Donoho, seconded <br />by Mr. Sharp and unanimously carried, the <br />Commission approved Resolution No. 1135 <br />approving an application for ten years of <br />real property tax deduction for property <br />located at 119 West Wayne Street in the <br />South Bend Central Development Area. <br />g. Commission approval requested for <br />Resolution No. 1136 approving the <br />execution of Termination of Sublease with <br />the C4 of South Bend. (SBCDA Public <br />Improvement Project) <br />Mrs. Kolata noted that item 6.g. and 6.h. <br />are both related to the transfer of land to <br />Southhold Restorations in order to move a <br />house owned by Memorial Hospital to <br />South Street in Monroe Park. Resolution <br />No. 1136 terminates the Commission's <br />lease with the Board of Public Works for <br />the property transferred to Southhold <br />Restorations. Resolution No. 1137 amends <br />the lease for the 1990 Lease /Rental Bonds <br />-13- <br />COMMISSION APPROVED <br />RESOLUTION NO. 1135 <br />APPROVING AN APPLICATION <br />FOR TEN YEARS OF REAL <br />PROPERTY TAX DEDUCTION <br />FOR PROPERTY LOCATED AT <br />119 WEST WAYNE STREET IN <br />THE SOUTH BEND CENTRAL <br />DEVELOPMENT AREA <br />