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®South Bend Redevelopment Commission <br />Regular Meeting - January 19, 1996 <br />6. NEW BUSINESS (Cont.) <br />b. continued... <br />Abatement Impact Area, but is <br />located in the Airport Economic <br />Development Area, which is a Tax <br />Incremental Financing Allocation <br />Area; therefore, the petition first <br />requires the approval of the South <br />Bend Redevelopment Commission. <br />A review of the Tax Abatement <br />Ordinance finds that the petitioner's <br />use of the property is not an eligible <br />use for tax abatement purposes; <br />however, the petitioner is respectfully <br />requesting a special consideration of <br />a 10 year real property tax <br />abatement. The petitioner has <br />indicated that the tax abatement is an <br />integral and necessary part of the <br />project. <br />The tax abatement will assist in the <br />cash flow needs of the hotel, <br />especially during the startup years. <br />Once up and running, the hotel will <br />be a catalyst for the area. As future <br />projects are completed and the area <br />becomes further developed, the <br />hotel's utilization will increase <br />proportionately. Additionally, the <br />Blackthorn Golf Course will work to <br />benefit the hotel and the hotel will <br />work to benefit the golf course. <br />Weekend packages will be offered <br />with discount rooms and discount <br />rounds of golf. Lastly, the hotel will <br />be a complete full service hotel <br />offering the latest in amenities. This <br />-16- <br />