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South Bend Redevelopment Commission <br />Regular Meeting —March 27, 2014 <br />6. NEW BUSINESS (CONT.) <br />B. Airport Economic Development Area <br />(3) continued... <br />additional update to the Commission once proposals are received. This is the first step in <br />developing a strategy for the asset moving forward. <br />Mr. Varner asked how much the capital requests amount to. Mr. Zeeb responded <br />approximately $750,000 over a five year period. <br />Mr. Downes asked if Kitson & Partners had an appraisal done around the time they took <br />over management of the course. Mr. Zeeb responded that it wasn't an official appraisal. <br />C. West Washington- Chapin Development Area <br />There was no business in the West Washington- Chapin Development Area. <br />D. South Side Development Area <br />There was no business in the South Side Development Area. <br />E. Northeast Neighborhood Development Area <br />There was no business in the Northeast Neighborhood Development Area. <br />F. Douglas Road Development Area <br />There was no business in the Douglas Road Development Area. <br />7. PROGRESS REPORTS <br />Tax Abatement: Mr. Fielding noted that the Common Council passed a designating resolution for <br />tax abatement for the following companies at its March 25 meeting. Confirming resolutions will be <br />considered on April 14. <br />(1) Lippert Components went for a two -year vacant building abatement under the state <br />statute. They committed to 380 jobs over the next ten years with 180 to be created by the end of <br />2014. <br />(2) Lock Joint Tube is expanding its plant by adding 30,000 sft and seven additional jobs. <br />They are asking for a five year abatement. <br />(3) Noble Americas Ethanol LLC, the new owner of the ethanol plant, is asking for both a <br />real and personal abatement. They are committing to creating fifty jobs. <br />1i <br />