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South Bend Redevelopment Commission <br />Regular Meeting - March 4, 1994 <br />6. NEW BUSINESS (Cont.) <br />bc2 >. continued... <br />in the Airport Economic Development Area, <br />which is a Tax Incremental Financing <br />Allocation Area. Toll Road Industrial <br />Partners qualifies for a ten year real property <br />tax abatement under the Tax Abatement <br />Ordinance. <br />Without tax abatement, the project would <br />generate approximately $1,121,992 of new <br />axes over the ten year period. With <br />abatement, the project will generate <br />approximately $566,606 of new taxes over <br />the ten year period. Therefore the cost of the <br />abatement will be approximately $555,386. <br />low Mr. Frank Perri, representing Tech Data, <br />noted that Tech Data is centralizing their <br />Chicago and Cleveland distribution centers in <br />South Bend. Tech Data was very impressed <br />with South Bend and the cooperation they <br />received as the looked for a new site. They <br />have experienced phenomenal growth over <br />the last seven years and have become the <br />third largest business of their type in the <br />United States. <br />Upon a motion by Mr. Donoho, seconded by <br />Mr. Faccenda and unanimously carried, the <br />Commission approved Resolution No. 1233 <br />approving an application for real property tax <br />deduction for Toll Road Industrial Partners, <br />L.P. for property located in the Airport <br />Economic Development Area. <br />COMMISSION APPROVED RESOLUTION NO. <br />1233 APPROVING AN APPLICATION FOR <br />REAL PROPERTY TAX DEDUCTION FOR <br />TOLL ROAD INDUSTRIAL PARTNERS, L.P. <br />FOR PROPERTY LOCATED IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA <br />