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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting - June 25, 1999 <br />6. NEW BUSINESS (CONT.) <br />c. continued... <br />A review of the Tax Abatement <br />Ordinance finds that Robert M. <br />Wilcox's project meets the <br />qualifications for a three year real <br />property tax abatement under Industrial <br />Development Citywide General <br />Standards. <br />Using the estimated project cost of <br />$760,000, the taxes generated over the <br />three -year period will be approximately <br />$75,381. Taxes abated over the three - <br />year period will be approximately <br />$50,254. Taxes still paid with the <br />abatement over the three -year period <br />will be approximately $25,127. <br />Upon a motion by Mr. Blake, seconded <br />COMMISSION ADOPTED RESOLUTION NO. 1687 <br />by Mr. Faccenda and unanimously <br />APPROVING AN APPLICATION FOR REAL <br />carried, the Commission adopted <br />PROPERTY TAX DEDUCTION FOR PROPERTY AT <br />Resolution No. 1687 approving an <br />4245 MEGHAN BEELER COURT IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA. (ROBERT M. <br />application for real property tax <br />WILCOX) <br />deduction for property at 4245 Meghan <br />Beeler Court in the Airport Economic <br />Development Area. (Robert M. <br />Wilcox) <br />HAWPDATA \C0MMSN\062599.MIN I I <br />