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South Bend Redevelopment Commission <br />Regular Meeting -April 17, 1998 <br />6. NEW BUSINESS (Cont.) <br />c. continued... <br />which is a Tax incremental Financing <br />Allocation Area; therefore, this petition <br />first requires the approval of the South <br />Bend Redevelopment Commission. A <br />review of the Tax Abatement Ordinance <br />finds that Beeler & Brown Properties, <br />LLC and Davey, LLC meet the <br />qualifications for a five -year residential <br />tax abatement under the Single Family <br />Real Property Abatement. <br />Using the estimated project cost of <br />$150,000, the taxes to be generated over <br />the five -year period total approximately <br />$21,006.68 per unit. Taxes to be abated <br />total approximately $7,100.85 per unit. <br />Taxes still to be paid, per unit, total <br />approximately $14,497.57. <br />Chris Davey presented a site plan to the <br />Commission. He stated that Beeler & <br />Brown Properties, LLC and Davey, LLC <br />came before the Commission in March <br />1998, regarding the land adjacent to their <br />property in the Cleveland Road Industrial <br />Park. Beeler & Brown Properties, LLC <br />and Davey, LLC purchased approximately <br />52 acres of land in the Cleveland Road <br />Industrial Park. The 52 acres have a <br />zoning line. The south 36 acres are zoned <br />industrial and the north 17 acres are zoned <br />residential. Beeler & Brown Properties, <br />LLC and Davey, LLC purchased the 52 <br />acres from one property owner. Beeler & <br />Brown Properties, LLC and Davey, LLC's <br />intentions were to develop the south <br />-11- <br />