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South Bend Redevelopment Commission <br />Regular Meeting - July 2, 1998 <br />6. NEW BUSINESS (CONT.) <br />e. continued.... <br />development; however, the majority of <br />homes are approximately 1,150 sf ft and <br />two stories. None of the buildings will <br />exceed 40 percent of the total lot size. <br />Upon completion of construction, these <br />homes will be sold to owner occupants. <br />The estimated cost per unit is $77,790 <br />with a total estimated project cost of <br />$1,322,421. <br />A review of the tax abatement records <br />finds that South Bend Heritage <br />Foundation has been associated with <br />several previous tax abatements. (1) A <br />ten -year real property tax abatement was <br />granted in August 1992. (2) A ten -year <br />real property tax abatement was granted <br />in January 1995. (3) A ten -year real <br />property tax abatement was granted in <br />July 1996. (4) A ten -year real property <br />tax abatement was granted in June 1997. <br />(5) A five -year real property tax <br />abatement was granted in August 1997. <br />(6) A ten -year real property tax <br />abatement was granted in October 1997. <br />(7) A five -year real property tax <br />abatement was granted in October 1997. <br />South Bend Heritage Foundation is in <br />compliance with the reporting <br />requirements for each of the previous <br />abatements. The building commissioner <br />has reviewed the petition and finds the <br />property to be properly zoned for the <br />proposed project. A review of the <br />designated South Bend Redevelopment <br />areas finds that the property is located in <br />HAWPDATA \C0MMSN\070298.MIN -9- <br />