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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting - April 9, 1999 <br />6. NEW BUSINESS (CONT.) <br />b. continued... <br />South Bend Heritage Foundation <br />respectfully requests special <br />consideration of a 10 -year real property <br />abatement. <br />Because the project does not meet the <br />minimum requirements for the <br />requested 10 -year abatement, it must be <br />considered as a special exceptions case <br />by the South Bend Common Council <br />under the "Council's Authority to <br />Enlarge Real Property Tax Abatement <br />General Standards." <br />Using the project cost of $750,000, the <br />taxes generated over the 10 -year period <br />will be approximately $366,066. Taxes <br />abated over the 10 -year period will be <br />approximately $181,203. Taxes still <br />paid with the abatement over the 10- <br />year period will be approximately <br />$184,864. <br />Dea Andrews presented a site plan of <br />the project to the Commission for its <br />consideration. <br />Ms. Andrews stated that the laundromat <br />and the retail space will be located on <br />the east side of Chapin Street north of <br />Sav -A -Lot. <br />Ms. Schwartz explained that she <br />supported the project but does not want <br />to approve any special exceptions to the <br />tax abatement ordinance. <br />HAWPDATATOMMSM040999.MIN -11- <br />