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South Bend Redevelopment Commission <br />Regular Meeting - November 7, 1997 <br />6. NEW BUSINESS (CONT.) <br />e. continued.... <br />equipment is expected to be. <br />Mr. Wojtysiak stated that the life <br />expectency of the equipment is <br />approximately 20 years. <br />Upon a motion by Ms. Schwartz, seconded <br />by Ms. Auburn and unanimously carried, <br />the Commission adopted Resolution <br />No. 1552 approving an application for <br />personal property tax deduction for <br />property located at 408 W. Indiana <br />Avenue in the Sample -Ewing <br />Development Area. (South Bend Form <br />Tool Company, Inc.) <br />L Staff report on acquisition of property <br />in the Sample -Ewing Development <br />Area. <br />Mrs. Kolata stated that a counter offer was <br />received from Frank J. Fanin, Jr. and <br />Carmel L. Fanin for the property located at <br />701 E. Keasey. The original purchase <br />offer was in the amount of $22,000. The <br />counter offer is in the amount of $52,000. <br />This is a lump sum payment for both <br />acquisition and relocation. It includes all <br />relocation payments that they would be <br />eligible to receive which is usually in the <br />amount of $22,500. The staff recommends <br />accepting the counter offer in the amount <br />of $52,000. <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\110797.MN -14- <br />COMMISSION ADOPTED RESOLUTION NO. 1552 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED AT 408 W. INDIANA AVENUE IN THE <br />SAMPLE -EWING DEVELOPMENT AREA. (SOUTH <br />BEND FORM TOOL COMPANY, INC.) <br />