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RM 12-03-99
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RM 12-03-99
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South Bend Redevelopment Commission <br />Regular Meeting - December 3, 1999 <br />6. NEW BUSINESS (CONT.) <br />d. continued... <br />Area; therefore, the petition for personal <br />property tax abatement must first be <br />approved by the South Bend <br />Redevelopment Commission. <br />A review of the Tax Abatement Ordinance <br />finds that Rink Riverside Printing, Inc. <br />meets the qualifications for a five -year <br />personal property tax abatement under <br />Tangible Personal Property Tax <br />Abatement. <br />Using the estimated equipment cost of <br />$2,200,000, the taxes generated over the <br />five -year period will be approximately <br />$215,322. Taxes abated over the five -year <br />period will be approximately $177,141. <br />Taxes still paid with the abatement over <br />the five -year period will be approximately <br />$38,181. <br />Upon a motion by Ms. Jones, seconded by <br />Mr. Donoho and unanimously carried, the <br />Commission adopted Resolution No. 1722 <br />approving an application for personal <br />property tax deduction for property at 814 <br />South Main Street. (Rink Riverside <br />Printing, Inc.) <br />e. Filing of Resolution No. 1723 Amending <br />the South Bend Central Development <br />Area Development Plan and setting a <br />public hearing on Resolution No. 1723 <br />for 10:00 a.m., on December 17,1999. <br />-11- <br />COMMISSION ADOPTED RESOLUTION NO. 1722 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY AT <br />814 SOUTH MAIN STREET. (RINK RIVERSIDE <br />PRINTING, INC.) <br />
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