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South Bend Redevelopment Commission <br />Regular Meeting - September 5, 1997 <br />5. OLD BUSINESS (CONT.) <br />a. continued.... <br />Distressed Area —the LaSalle Avenue <br />Chapin Area. The two houses, located at <br />804 and 808 W. LaSalle Avenue, are <br />located in the West Washington- Chapin <br />Development Area, therefore, this petition <br />first requires the approval of the South <br />Bend Redevelopment Commission. South <br />Bend Heritage Foundation and Zellia and <br />Johnny Crook and Luping and Eric <br />McGinness seek approval under section <br />IC- 6- 1.1- 12.1 -11.3C which allows the City <br />Council to waive certain requirements to <br />submit a statement of benefits prior to <br />initiating a Redevelopment project and <br />under Single - Family Real Property Tax <br />Abatement of the Tax Abatement <br />Ordinance which allows South Bend <br />Heritage Foundation and Zellia and <br />Johnny Crook and Luping and Eric <br />McGinness to receive the five year real <br />property tax abatement. <br />The benefit to Zellia and Johnny Crook and <br />Luping and Eric McGinness is <br />approximately $1,600 per year based on the <br />1997 tax rates. Each homeowner will be <br />responsible for approximately $600.00 to <br />$700.00 in taxes of the non - abated portion. <br />Mike Beitzinger noted that the taxes abated <br />are capped at $12,000 assessed valuation, <br />and the homeowners are responsible for any <br />amounts over and above that amount. Mike <br />Beitzinger stated that he mailed a <br />memorandum with additional information <br />regarding these two properties to the <br />Redevelopment Commissioners. <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSM090597.MIN -6- <br />