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RM 04-07-95
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RM 04-07-95
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South Bend Redevelopment Commission <br />Regular Meeting - April 7, 1995 <br />communications vaults for Ameritech. In <br />considering this request, I wrote the State <br />Board of Tax Commissioners, requesting a <br />determination as to eligibility for personal <br />property abatement. (The State Tax Board <br />takes a narrower view of manufacturing <br />companies. If they would determine them <br />eligible for personal property abatement then <br />they must also be eligible for real property <br />abatement). The State Tax Board indicated <br />that Communication Tbst Design does fit the <br />State's definition of a manufacturing <br />company and if they were applying for <br />personal property abatement then they would <br />have been eligible for abatement. The <br />Common Council attorney was not opposed <br />to changing the qualification. <br />Therefore, Communication Tbst Design <br />now qualifies for a six year abatement under <br />the manufacturing section (sec 2 -82 <br />Industrial Development City Wide) of <br />Ordinance #8065 -90 (as opposed to the three <br />years the company would have qualified for <br />under the warehousing section). <br />With a project cost of $1,232,000, the taxes <br />generated, without abatement, would be <br />approximately $372,586. With abatement, <br />the taxes would be approximately $154,002. <br />Therefore, the cost of the abatement would <br />be approximately $218,584. <br />Mr. Thompson noted that in his initial <br />conversation with Mr. Beitzinger, he had <br />Wed to explain what the building expansion <br />6. NEW BUSINESS (Cont.) <br />f. continued... <br />IL -18- <br />
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