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South Bend Redevelopment Commission <br />Regular Meeting - December 16, 1994 <br />6. NEW BUSINESS (Cont.) <br />C. continued... <br />abatement, the project will generate <br />approximately $952,668. Therefore, the <br />cost of the abatement over the ten year <br />period will be approximately $933,804. <br />Mr. Gibney noted that the staff of South <br />Bend Heritage has worked closely with <br />Redevelopment staff to plan this <br />development. Its appearance will closely <br />resemble the duplexes in the 1200 block <br />of West Washington Street which South <br />Bend Heritage also built. The Troyer <br />Group was the architect for this project. <br />Mr. Gibney noted that South Bend <br />Heritage does not yet have control of all <br />of the land for this project, but expects <br />to control all of the land within a few <br />months. They presently control <br />approximately 35 % of the land needed <br />for the project. They do, however, <br />intend to begin construction this winter <br />and complete the project by January <br />1996. <br />Mr. Gibney noted that the primary <br />financing for the project is from the Low <br />Income Housing Tax Credit Program. <br />-15- <br />