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South Bend Redevelopment Commission <br />Regular Meeting - November 1, 1996 <br />6. NEW BUSINESS (Cont.) <br />d. continued.... <br />A review of the tax abatements previously <br />granted finds that APS, Inc. has not been <br />granted any previous tax abatement <br />consideration. The building commissioner <br />has reviewed the petition and finds the <br />property to be properly zoned for the <br />proposed use. A review of the tax <br />abatement designation areas finds that the <br />property is located in an area presently <br />designated as a Tax Abatement Impact <br />Area, as well as the Urban Enterprise <br />Zone and Economic Development Target <br />Area. Because this is a retail business, <br />location within the Economic <br />Development Target Area is required for <br />approval of the tax abatement. A review <br />of the Redevelopment designation areas <br />finds that the property is located in the <br />Sample -Ewing Development Area, which <br />is a Tax Incremental Allocation Area, <br />therefore, the petition first requires the <br />approval of the South Bend <br />Redevelopment Commission. A review of <br />the Tax Abatement Ordinance finds that <br />APS, Inc. meets the qualifications for a <br />three year real property tax abatement. <br />Using an estimated project cost of <br />$100,000, the total taxes generated are <br />approximately $14,057. The estimated <br />amount to be abated is $9,325. The taxes <br />still paid with the abatement are <br />approximately $4,733. <br />c <br />