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G <br />South Bend Redevelopment Commission <br />Regular Meeting - April 15, 1994 <br />6. NEW BUSINESS (Cont.) <br />j. continued... <br />$230,000 and a constant tax rate, without <br />abatement, the project will generate <br />approximately $114,181. With abatement <br />the project will generate approximately <br />$57,662. Therefore, the cost of the <br />abatement will be approximately $56,520 <br />over the ten year period. <br />Mrs. Kolata noted that the Commission has <br />not closed on the sale of this property, so, <br />as the property owner, needs to authorize <br />signing the petition on behalf of Richard <br />Allen. <br />Upon a motion by Mr. Sharp, seconded by <br />Mr. Piasecki and unanimously carried, the <br />Commission authorized signing of the tax <br />abatement petition on behalf of Richard D. <br />Allen. <br />Ms. Auburn asked if the site plan the <br />Commission had seen previously is still the <br />plan. Mrs. Kolata responded that it is. Mr. <br />Allen has complied with some changes <br />requested by the Commission and will do <br />minimal landscaping on the portion of land <br />to be used for phase two so that it looks like <br />a completed project until the second phase is <br />constructed. <br />Mrs. Kolata noted that the staff is very <br />pleased with the project. Mrs. Kolata also <br />noted that Mr. Allen intends to begin <br />construction within thirty days. <br />-16- <br />COMMISSION AUTHORIZED SIGNING OF <br />THE TAX ABATEMENT PETITION ON <br />BEHALF OF RICHARD D. ALLEN <br />