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South Bend Redevelopment Commission <br />Regular Meeting -July 18, 2008 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />(4) continued... <br />$1,125,000. <br />Foxtrot/GTA Containers have had four <br />previous tax abatements. The property is <br />properly zoned for the proposed use. The <br />property is in the Airport Economic <br />Development Area; therefore the <br />Redevelopment Commission must give its <br />approval. The project qualifies for seven <br />years of real property tax abatement and five <br />years of personal property tax abatement <br />under the tax abatement ordinance. <br />Mr. Deahl noted that the U. S. government <br />has a very tight timetable for when a product <br />has to be tested in a new facility. The <br />requirement is that within 120 days after <br />executing a contract an actual unit has to be <br />produced from the facility which will be used <br />to serve that contract. So GTA is under a <br />very tight timeline for constructing the <br />facility. City staff has been extremely <br />helpful in getting these tax abatement <br />applications processed. <br />Dr. Varner asked if there is a market outside <br />of the government for this product. Ms. <br />Gamont responded that there is, but they <br />have not developed that market. <br />Mr. Addicott said they are working on a mine <br />safety tent. Trapped miners would go into <br />one of GTA's enclosures containing <br />pressurized air that would be good for 96 <br />hours. <br />24 <br />