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South Bend Redevelopment Commission <br />Regular Meeting - May 16, 1997 <br />6. NEW BUSINESS (Cont.) <br />a. continued.... <br />and South Bend Heritage is aware of those <br />changes. The properties will need to be <br />rezoned to at least "C" Commercial and <br />there will need to be a replat through the <br />Area Plan Commission to be properly <br />zoned for the proposed use. A review of <br />the tax abatement maps finds that the <br />property is located in an area presently <br />designated as a Tax Abatement Impact <br />Area, and the property is also located in <br />the Economic Development Target Area <br />and the Urban Enterprise Zone. A review <br />of the Redevelopment allocation areas <br />finds that a portion of the property is <br />located in the West Washington- Chapin <br />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. <br />Mike Beitzinger noted that South Bend <br />Heritage Foundation and Baugo Creek <br />Realty are requesting a ten (10) year real <br />property tax abatement, and although the <br />South Bend Heritage Foundation and <br />Baugo Creek Realty project falls within <br />the designated area, the project does not <br />meet the required 40,000 square feet of <br />new construction for the requested 10 year <br />abatement. South Bend Heritage and <br />Baugo Creek Realty feel that the project <br />should be considered for the 10 year tax <br />abatement because 1) the project is an <br />integral part of the City's development <br />plans for the area, 2) the project will be a <br />Affft <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\051691.MIN -5- <br />