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South Bend Redevelopment Commission Regular Meeting - October 20, 2000 6. NEW BUSINESS (CONT.) b. Commission approval requested for Resolution No. 1804 approving an application for real property tax deduction for properties located at 1904, 1912, 1920, 2004, and 2012 Phillipa St. in the Sample -Ewing Development Area. (Dave Coker) Ms. Moran reported that the petitioner proposes to build five new single family houses that will be approximately 1,000 to 1,200 sq. ft. each. The houses will have three bedrooms and an attached two car garage. She noted that the cost for each new home is estimated to be $80,000, making the total project cost approximately $400,000. The petitioner has previously been granted several 5 year tax abatements. The property is properly zoned for the proposed project. The property is located in the Sample -Ewing Development Area which is a Tax Incremental Allocation Area. The project qualifies for a 5- year residential property tax abatement under the Tax Abatement Ordinance Without abatement, the taxes on the $400,000 project would be $10,842.34. With a five -year abatement, the taxes paid would be approximately $3,614.11. Therefore, the cost of the abatement is approximately $7,228.23 over the five -year period. Upon a motion by Ms. Jones, seconded by Mr. Caldwell and unanimously carried, the Commission approved Resolution No. 1804 approving an application for real property tax deduction for properties located at 1904, 1912, 1920, 2004, and 2012 Phillipa St. in the Sample - Ewing Development Area. (Dave Coker) -5- COMMISSION APPROVED RESOLUTION NO. 1804 APPROVING AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION FOR PROPERTIES LOCATED AT 1904, 1912, 1920, 2004, AND 2012 PHILLIPA ST. IN THE SAMPLE - EWING DEVELOPMENT AREA (DAVE COKER)