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South Bend Redevelopment Commission <br />Regular Meeting - February 2, 1996 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />in an area presently designated as a 'Pax <br />Abatement Impact Area, as well as the <br />Economic Development Target Area <br />and the Urban Enterprise Zone. <br />A review of the Redevelopment <br />designation areas finds that the property <br />is located in the Sample -Ewing <br />Development area, which is a Tax <br />Incremental Allocation Area; therefore, <br />the petition first requires the approval <br />of the South Bend Redevelopment <br />Commission. <br />A review of the Tax Abatement <br />Ordinance finds that the petitioner meets <br />the qualifications for a three (3) year <br />real property tax abatement. <br />A review of the cost of the abatement <br />shows that, without abatement, the <br />project will generate approximately <br />$27,578 in new taxes over the three <br />year period. With abatement, the <br />project will generate approximately <br />$9,285. Therefore, the cost of the <br />abatement is approximately $18,293 <br />over the three year period. <br />Upon a motion by Mr. Faccenda, <br />seconded by Mr. Donoho and <br />unanimously carried, the Commission <br />approved Resolution No. 1414 <br />approving an application for real <br />property tax deduction for property <br />located at 208 E. Sample Street in the <br />-5- <br />COMMISSION APPROVED RESOLUTION <br />NO. 1414 APPROVING THE APPLICATION FOR <br />REAL PROPERTY TAX DEDUCTION FOR <br />PROPERTY LOCATED AT 208 E. SAMPLE <br />STREET IN THE SAMPLE -EWING <br />DEVELOPMENT AREA. (CHAMPION SOFT <br />WATER CO., INC.) <br />