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South Bend Redevelopment Commission <br />Regular Meeting - May 16, 1997 <br />6. NEW BUSINESS (Cont.) <br />b. continued.... <br />With the project cost of $1.8 million, the <br />total taxes generated over three years, <br />without abatement, would be approximately <br />$8,549.72. With abatement, the taxes would <br />be approximately $5,546,4 1. Therefore,the <br />cost of the abatement would be <br />approximately $3,003.31. <br />Dan Thorsburg stated that C.D.T., L.L.C. <br />would like to construct fifteen (15) town <br />home units at the corner of Corby Boulevard <br />and Niles Avenue. He explained that this is <br />not a real big lot. It's just over 1 acre. The <br />three (3) buildings that will house the fifteen <br />(15) units will have a brick exterior. Each <br />unit will have a total of three (3) bedrooms <br />with three (3) and a half (1/2) baths. Each <br />building will marketed in the price range of <br />$173,000 to $181,000. He stated that <br />C.D.T., L.L.C. feels comfortable with the <br />units' price range. <br />He stated that a private drive will run down <br />the middle of the three buildings. Most of <br />the units will be have a beautiful view of the <br />city with exception to the five units facing <br />Corby Boulevard. The garages will be <br />inside the buildings. Trees and shrubs will <br />be planted along Corby Boulevard. <br />He noted that individuals have expressed <br />their support of the project and, <br />Neighborhood Housing Services has granted <br />C.D.T., L.L.C. a loan for the proposed <br />project. <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\051697.MIN -11- <br />