Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - August 15, 1997 <br />6. NEW BUSINESS (CONT.) <br />m. continued.... <br />Commission. Under I.C. 6-1.1-12.1 - <br />11.3(c), which allows the South Bend <br />Common Council to waive the <br />requirement to submit a Statement of <br />Benefits form prior to initiating the <br />redevelopment project, and under the <br />Single Family Real Property Tax <br />Abatement, of the Tax Abatement <br />Ordinance, as amended, South Bend <br />Heritage Foundation meets the <br />qualifications for the five year real <br />property tax abatement. <br />Using the estimated project cost of <br />$79,700, real property taxes generated <br />over five years for the property located at <br />804 W. LaSalle Avenue are estimated to <br />total approximately $11,969.20. Taxes <br />abated over five years total approximately <br />$8,012.86. Taxes still paid with the <br />abatement total approximately $3,956.35. <br />Using the estimated project cost of <br />$74,900, real property taxes generated <br />over five years for the property located at <br />808 W. LaSalle Avenue are estimated to <br />total approximately $11,167.92. Taxes <br />abated over five years total approximately <br />$8,012.86. Taxes still paid with the <br />abatement total approximately $3,155.06. <br />Dea Andrews, representative of South <br />Bend Heritage Foundation, presented to <br />the Commission pictures of the two homes <br />located at 804 and 808 W. LaSalle. She <br />stated that Luping and Eric McGinness <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\081597.MIN -15- <br />