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r.� <br />South Bend Redevelopment Commission <br />Regular Meeting - October 17, 1997 <br />5. OLD BUSINESS (CONT.) <br />a. continued.... <br />that same month under the assumption that <br />the property had already been granted <br />abatement. <br />These extenuating circumstances are the <br />basis for Value Plus Construction requesting <br />residential tax abatement, on behalf of the <br />homeowner, for the home that has already <br />been completed at 2520 W. Calvert Street. <br />Value Plus is now aware of the filing <br />requirements and is seeking the abatement <br />on behalf of the homeowner. The property <br />owner has signed the original petition and <br />the staff report is attached, providing <br />additional information concerning the <br />project. <br />Mike Beitzinger stated that the home is <br />approximately 1,080 square feet, with vinyl <br />siding, three bedrooms, fully insulated <br />basement and attached 1 car garage. The <br />home also has an energy efficient furnace, <br />complete floor coverings, a concrete patio, <br />driveway and sidewalks, and a completely <br />seeded yard. The actual cost for the new <br />home was $67,200. <br />Value Plus Construction has completed 15 <br />homes and has 3 under construction, all of <br />which have utilized the City's tax abatement <br />program and subsidies offered by the <br />Housing Assistance Office of up to $12,500, <br />making the homes affordable to low and <br />moderate income families. <br />H:\HOME\CPHPPS\WPDATA\COMMSN\101797.MIN -5- <br />