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South Bend Redevelopment Commission <br />Meeting - May 17, 1996 <br />6. NEW BUSINESS (Cont.) <br />h. continued.... <br />property tax abatements. The building <br />commissioner has reviewed the petition <br />and has found the properties to be <br />properly zoned for the proposed use. A <br />review of the tax abatement maps fords <br />that the property is not located in an area <br />presently designated as a Tax Abatement <br />Impact Area. A review of the <br />Redevelopment allocation areas finds that <br />the property is located in the Sample - <br />Ewing Development Area which is a Tax <br />Incremental Financing Allocation Area; <br />therefore, the petition first requires the <br />approval of the South Bend <br />Redevelopment Commission. A review <br />of the Tax Abatement finds that Steel <br />Warehouse meets the qualifications for a <br />five year real property tax abatement. <br />With projected project cost of $900,000 <br />and $975,000. The taxes due over a five <br />year period would be approximately <br />$9,500. The taxes to be paid would be <br />approximately $1,500. The amount to <br />be abated per property would be <br />approximately $8,000. <br />Upon a motion by Mr. Robert Hunt, <br />seconded by Mr. Donoho and <br />unanimously carried, the Commission <br />approved Resolution No. 1434 approving <br />an application for real property tax <br />deduction for property located at 1911, <br />1917, 1921, 2001, 2006, 2014, 2022, <br />2108, 2112, 2120, 2205, 2211, 2233, <br />and 2239 South Meade Street in the <br />-14- <br />COMMISSION APPROVED RESOLUTION <br />NO. 1434 APPROVING AN APPLICATION <br />FOR REAL PROPERTY TAX DEDUCTION <br />FOR PROPERTY LOCATED IN THE SAMPLE - <br />EWING DEVELOPMENT AREA <br />