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a <br />South Bend Redevelopment Commission <br />Regular Meeting - May 1, 1998 <br />6. NEW BUSINESS (CONT.) <br />b. continued.... <br />the Council's Authority to enlarge Real <br />Property Tax Abatement General <br />Standards. Under the proposed guidelines <br />established by the Community and <br />Economic Development Committee of the <br />Council, the buildings will be considered <br />eligible for tax abatement under the <br />requirements of the Industrial <br />Development City Wide and are each <br />eligible for ten (10) years of real property <br />tax abatement. Once an end user of each <br />building is identified, a final determination <br />will be made as to eligibility and the term <br />(or length) of the abatement will be <br />established. <br />Final determination would be made by <br />matching the end user to the requirements <br />of the Tax Abatement Ordinance and <br />possible examples include: If the end user <br />is a manufacturing company, the Industrial <br />Development City Wide Ordinance would <br />be used and the term of the abatement for <br />each building would remain at ten years <br />since each building would surpass the <br />minimum requirement of 30,000 sf of new <br />construction. If the end user is a <br />warehousing company, then the <br />warehousing requirements under the <br />Warehouse Development City Wide <br />Ordinance would be used and each <br />building would receive six years of <br />abatement since the buildings surpass the <br />minimum requirement of 50,000 sf. If any <br />other type of use (e.g. office, service, <br />retail, etc.) is identified, the buildings <br />-9- <br />