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South Bend Redevelopment Commission <br />Regular Meeting - June 20, 1997 <br />6. NEW BUSINESS (CONT.) <br />a. continued.... <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 of <br />the Tax Abatement Ordinance finds that G <br />& M Properties meets the qualifications <br />for a five year real property tax abatement. <br />With the project cost of $62,500, taxes <br />generated for each of the five years <br />without abatement are approximately <br />$1,819.59. Taxes abated for each of the <br />five years are approximately $1,602.57. <br />Total taxes paid without the abatement <br />would be $217.01. <br />Michael Urbanski, representative of G & <br />M Properties, stated that as a result of the <br />Commission's actions on two previous tax <br />abatements, there are eighteen families <br />living on Meade Street. He also stated that <br />the street was no longer enveloped with <br />empty lots. Michael Urbanksi suggested <br />to the Commission that they drive down <br />Meade Street and see the results of their <br />actions on his previous tax abatements. <br />Mr. Hunt stated that he has driven down <br />Meade Street and observed the newly <br />constructed homes. He noted that they are <br />a great improvement to the area. <br />Upon a motion by Ms. Auburn, seconded <br />by Ms. Schwartz and unanimously carried, <br />the Commission adopted Resolution No. <br />C <br />