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South Bend Redevelopment Commission <br />Regular Meeting - February 17, 1995 <br />6. NEW BUSINESS (Cont.) <br />h. continued... <br />Advertising, which the Commission <br />approved earlier this year, requires that we <br />file a minor subdivision. The proposal from <br />Peirce & Associates will do the survey work <br />and platting for $1250 plus the subdivision <br />submittal fee of $118 for a total of $1368. <br />Fisher Surveying and Engineering proposes <br />to do the minor subdivision for $900 plus <br />the filing fee for a total of $1,018. The <br />staff recommends hiring Fisher Surveying <br />and Engineering. <br />Upon a motion by Mr. Hunt, seconded by <br />Mr. Hojnacki and unanimously carried, the <br />Commission accepted the proposal from <br />Fisher Surveying and Engineering for <br />surveying services in the Airport Economic <br />Development Area. <br />7. PROGRESS REPORTS <br />Ms. Auburn asked Mr. Hojnacki if he could <br />explain the relationship between the need for the <br />County Option Income Tax and the granting of <br />tax abatements. Mr. Hojnacki responded that, as <br />best he can figure, it is a wash. Nor do tax <br />abatements affect the tax rate. <br />Mrs. Kolata responded that tax abatement does <br />not reduce any existing tax being paid for any <br />current assessed value. The abatement is only on <br />new development and is only a percentage of that. <br />Because state law limits tax revenues to a yearly <br />increase of no more than 5 %, new growth does <br />not automatically result in more revenue. <br />CW -10- <br />COMMISSION ACCEPTED THE PROPOSAL <br />FROM FISHER SURVEYING AND <br />ENGINEERING FOR SURVEYING SERVICES <br />IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA <br />PROGRESS REPORTS <br />