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RM 12-16-94
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RM 12-16-94
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Awk South Bend Redevelopment Commission <br />Regular Meeting - December 16, 1994 <br />6. NEW BUSINESS (Cont.) <br />C. continued... <br />South Bend Heritage Foundation was <br />granted a ten year meal property <br />abatement for its West Washington <br />Homes Partnership project in the 1200 <br />block of West Washington Street in <br />August 1992. South Bend Heritage is in <br />compliance with the reporting <br />requirements for the previous abatement. <br />The property is not presently zoned for <br />the proposed use, but the petitioner has <br />take steps to have the lots rezoned for <br />multi - family residential use. The <br />property is not located in an area <br />presently designated as a Tax Abatement <br />Impact Area. The project is not located <br />within an area designated as an <br />Economic Development Target Area but <br />is located in the Sample -Ewing <br />Development Area. <br />Because the petitioner's project does not <br />fall within the Economic Development <br />Target Area and the petitioners hard - <br />dollar costs do not meet the minimum <br />dollar amount, the petitioner does not <br />meet the qualifications for a ten year real <br />property tax abatement. However, the <br />petitioner is requesting special <br />consideration for a ten year abatement. <br />According to the tax abatement <br />guidelines, multi - family housing projects <br />can qualify for real property abatement if <br />the property is located in a residentially <br />distressed area. Additionally, a ten year <br />abatement is available if hard dollar costs <br />ANN <br />-13- <br />
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