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South Bend Redevelopment Commission <br />Regular Meeting - March 5, 1993 <br />6. NEW BUSINESS (Cont.) <br />c. continued... <br />Upon a motion by Mr. Donoho, seconded by <br />Mr. Sharp and unanimously carried, the <br />Commission approved Resolution No. 1140 <br />determining to pay certain expenses incurred for <br />local public improvements in or serving the <br />Studebaker Corridor Development Area from <br />Fund 433, the Redevelopment General Fund. <br />d. Commission approval requested for Resolution <br />No. 1143 approving an application for real <br />property tax deduction for property located at <br />321 -323 South Main Street in the South Bend <br />Central Development Area. <br />Mr. Beitzinger read the staff report on the <br />project. Stephen J. Sommers proposes to <br />renovate the building at 321 -232 S. Main Street, <br />known as the Hibbard Building, and relocate his <br />business there. He would also rent out portions <br />of the building he does not use for his business. <br />The building has been in disrepair, requiring the <br />immediate repair of its electric, heating and <br />plumbing systems. The projected cost of <br />renovation is $300,000. The project will create <br />two new jobs, representing an annual payroll of <br />$36,000 and will maintain nine existing, <br />permanent, full-time positions and one <br />permanent, part time position, representing an <br />annual payroll of $234,000. <br />The petitioner has not received any previous tax <br />abatements. The property is properly zoned for <br />the proposed use. The property is located in an <br />area presently designated as a Tax Abatement <br />Impact Area and in a Redevelopment Blighted <br />ffa <br />COMMISSION APPROVED RESOLUTION <br />NO. 1140 DETERMINING TO PAY <br />CERTAIN EXPENSES INCURRED FOR <br />LOCAL PUBLIC IMPROVEMENTS IN OR <br />SERVING THE STUDEBAKER CORRIDOR <br />DEVELOPMENT AREA FROM FUND 433, <br />THE REDEVELOPMENT GENERAL FUND <br />