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South Bend Redevelopment Commission <br />Regular Meeting - October 17, 1997 <br />6. NEW BUSINESS (CONT.) <br />c. continued.... <br />that more than 20 percent of the housing units <br />will be made available to low - income <br />individuals, the project does not meet the <br />required $4 million in hard dollar costs for <br />the requested ten (10) year abatement. South <br />Bend Heritage feels that the project should be <br />considered for the 10 year abatement because <br />of the following: first, there is a need in our <br />community to provide alternative living <br />opportunities for developmentally disabled <br />adults; second, 100 percent of the project will <br />be targeted to low- income individuals, far <br />exceeding the 20 percent minimum <br />requirement; third, the project will provide <br />semi - independent living opportunities to <br />individuals who are currently living with <br />aging parents, in group homes or in nursing <br />homes. Additionally, South Bend Heritage <br />has noted that the project is an important <br />continuation of South Bend Heritage <br />Foundation's mission to stabilize and <br />revitalize inner -city, low- income <br />neighborhoods and to provide equal <br />opportunity for affordable housing. <br />Collaborating with Logan, Inc. allows South <br />Bend Heritage to extend its services to those <br />with special needs. Therefore, South Bend <br />Heritage is respectfully requesting special <br />consideration of a 10 year real property <br />abatement. <br />A review of the estimated taxes abated/paid <br />over the requested ten (10) year period has <br />determined that approximately $298,857 <br />would be abated and $304, 895 would be <br />paid. If South Bend Heritage is not granted <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\101797.MIN -16- <br />