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RM 05-19-95
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RM 05-19-95
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South Bend Redevelopment Commission <br />Regular Meeting - May 19, 1995 <br />6. NEW BUSINESS <br />d. continued... <br />Therefore, the petition first requires the <br />approval of the South Bend Redevelopment <br />Commission. <br />A review of the petition finds that the <br />project does not meet the requirements for a <br />real property tax abatement due to its <br />Standard Industrial Classification Code. <br />However, if the petitioner's S.I.C. code fell <br />within the allowable range, the petitioner <br />would have qualified for a ten year real <br />property tax abatement. Therefore, <br />Absorbtech is requesting tax abatement <br />consideration as a special exception. <br />Mr. Beitzinger stated that he did a review of <br />the tax abatements previously granted by <br />special exception and found that the large <br />majority were small projects which involved <br />less than 10,000 square feet of new <br />construction, less than $1 million in project <br />costs, and added less than 10 new jobs. <br />Each of these tax abatement applicants were <br />granted three year abatements. The larger <br />projects which received a special exception <br />were all housing projects, such as the West <br />Washington housing project, with project <br />costs of $3 -5 million dollars and, generally, <br />provided 100 % of their units for low or <br />moderate income families. Each of those <br />projects were granted 10 year abatements. <br />This project seems to fall right in between, <br />with a $3 million total project cost, 40,000 <br />square feet of new construction, and 23 new <br />jobs. Therefore, the petitioner respectfully <br />requests the Redevelopment Commission to <br />El <br />
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