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South Bend Redevelopment Commission <br />Regular Meeting - July 15, 1994 <br />6. NEW BUSINESS (Cont.) <br />C. continued... <br />A review of the cost of this abatement shows <br />that, with an estimated project cost of <br />$1,280,000 and a constant tax rate, the <br />property would generate approximately <br />$123,277 over the five year period without <br />abatement. With abatement, the project will <br />generate approximately $21,859. Therefore, <br />the cost of the abatement over the five year <br />period will be approximately $101,418. <br />Mr. Beitzinger noted that the staff has <br />become aware that South Bend Scrap & <br />Processing has been in violation of the <br />City's Municipal Code pertaining to <br />IL stationary noises. This has resulted in the <br />withholding of their annual operating <br />license. In addition, there is also pending <br />litigation in an effort to permanently resolve <br />the stationary noise violations. Upon <br />resolution of the noise problem the annual <br />operator's license application will once again <br />be reviewed. <br />Mr. Kerry Levin noted that South Bend <br />Scrap feels that they are cooperating with <br />the City to resolve the issue of the noise. <br />They have cut back their production, at <br />great expense, to try to resolve the <br />problems. The new electric cranes are <br />expected to resolve the issue, since they are <br />much quieter than the present equipment. <br />Ms. Auburn asked that the item be tabled <br />until legal counsel has time to determine <br />whether the Commission can legally grant a <br />tax abatement to an unlicensed business. <br />-10- <br />