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South Bend Redevelopment Commission <br />Regular Meeting - September 4, 1998 <br />6. NEW BUSINESS (CONT.) <br />b. Commission approval requested for <br />Resolution No. 1637 approving an <br />application for real property tax <br />deduction for property at 119 N. <br />Michigan Street. (The Ultimate <br />Connection, Inc.) <br />The following staff report was presented to <br />the Commission for its consideration. <br />The Ultimate Connection, Inc.'s proposed <br />rehabilitation project is to develop a cyber <br />cafe in the downtown business district. <br />Physical improvements include cleaning, <br />painting and upgrading the property and <br />adding a cafe where you can surf the <br />internet. The estimated cost of the project <br />is $120,000 for Phase I —a cafe; $30,000 <br />for Phase II —a high speed gaming area; <br />$50,000 for Phase III —a full restaurant. <br />The total estimated cost of the project is <br />$200,000. <br />Per the petition, it is estimated that this <br />project will create 10 new, permanent jobs <br />within the first year, representing a new <br />annual payroll of $150,000. <br />A review of the tax abatements previously <br />granted finds that The Ultimate <br />Connection, Inc. has not been granted <br />previous tax abatement. The building <br />commissioner has reviewed the petition <br />and finds the property to be properly <br />zoned for the proposed project. <br />H: \WPDATA \COMMSN\090498.MIN -4- <br />