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South Bend Redevelopment Commission <br />Regular Meeting - September 17, 1999 <br />6. NEW BUSINESS (CONT.) <br />e. continued... <br />Using the estimated equipment cost of <br />$1,500,000, the taxes generated over the <br />five -year period will be approximately <br />$146,810. Taxes abated over the five -year <br />period will be approximately $120,778. <br />Taxes still paid with the abatement over <br />the five -year period will be approximately <br />$26,032. <br />Upon a motion by Mr. Donoho, seconded <br />by Mr. Blake and unanimously carried, the <br />Commission adopted Resolution No. 1710 <br />approving an application for personal <br />property tax deduction for property at <br />1215 South Walnut Street in the Sample - <br />Ewing Development Area. (Lock Joint <br />Tube, Inc./KeyCorp Capital Leasing /Steel <br />Warehouse Co. Inc./LJT No. 1, LLC) <br />E Commission approval requested for an <br />Agreement Between the Department of <br />Redevelopment and the South Bend <br />Community School Corporation <br />Concerning Real Estate Proximate to <br />the Intersection of Fellow and Calvert <br />Streets. <br />Mrs. Kolata stated that Redevelopment <br />purchased the former Bandito's Burritos <br />and Abe's Plumbing buildings located at <br />Calvert and Fellows. <br />-11- <br />COMMISSION ADOPTED RESOLUTION NO. 1710 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY AT <br />1215 SOUTH WALNUT STREET IN THE SAMPLE - <br />EWING DEVELOPMENT AREA. (LOCK JOINT TUBE, <br />INC./KEYCORP CAPITAL LEASING /STEEL <br />WAREHOUSE CO. INC./LJT NO. 1, LLC) <br />