Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - November 17, 1995 <br />6. NEW BUSINESS (Cont.) <br />f. continued... <br />property tax abatement under the Tax <br />Abatement Ordinance. <br />A review of the cost of the abatement shows <br />that, without abatement, the project will <br />generate approximately $7,334 in new taxes <br />over the five year period. With abatement, <br />the project will generate approximately <br />$1,300. Therefore, the cost of the <br />abatement is approximately $6,034 over the <br />five year period. <br />Mr. Montgomery noted that he started this <br />company about five years ago in <br />approximately 1,500 square feet on Miami <br />Street. They currently have about 15,000 <br />square feet in their present facility in the <br />Airport Industrial Park. Their customers <br />have increased to a national market and they <br />must build their products more <br />competitively. This computer controlled <br />equipment is necessary for them to be <br />competitive. <br />Upon a motion by Mr. Hunt, seconded by <br />Mr. Hcjnacki and unanimously carried, the <br />Commission approved Resolution No. 1389 <br />approving an application for personal <br />property tax deduction for property located <br />at 3601 McGill Street in the Airport <br />Economic Development Area. (Precision <br />Millwork & Plastics) <br />COMMISSION APPROVED RESOLUTION <br />NO. 1389 APPROVING AN APPLICATION FOR <br />PERSONAL PROPERTY TAX DEDUCTION <br />FOR PROPERTY LOCATED AT 3601 MCGILL <br />STREET IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA. (PRECISION <br />MILLWORK &c PLASTICS) <br />