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South Bend Redevelopment Commission <br />Regular Meeting - October 15, 1999 <br />6. NEW BUSINESS (CONT.) <br />b. continued... <br />A review of the Tax Abatement <br />Ordinance finds that FDC Graphic <br />Films, Inc. meets the qualifications <br />for a five -year personal property tax <br />abatement under Tangible Personal <br />Property Tax Abatement. <br />Using the estimated equipment cost <br />of $150,000, the taxes generated over <br />the five -year period will be <br />approximately $14,624. Taxes <br />abated over the five -year period will <br />be approximately $12,031. Taxes <br />still paid with the abatement over the <br />five -year period will be <br />approximately $2,593. <br />Upon a motion by Ms. Jones, <br />seconded by Mr. Blake and <br />unanimously carried, the <br />Commission adopted Resolution No. <br />1713 approving an application for <br />personal property tax deduction for <br />property at 3820 William Richardson <br />Drive in the Airport Economic <br />Development Area. (FDC Graphic <br />Films, Inc.) <br />c. Commission approval requested <br />for proposal for professional <br />services in the Airport Economic <br />Development Area. (Wetlands <br />Liner) <br />COMMISSION ADOPTED RESOLUTION NO. 1713 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY AT 3820 <br />WILLIAM RICHARDSON DRIVE IN THE AIRPORT <br />ECONOMIC DEVELOPMENT AREA (FDC GRAPHIC FILMS, <br />INC.) <br />-7- <br />