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South Bend Redevelopment Commission <br />Regular Meeting -November 7, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatement <br />(1) continued... <br />The petitioner has not received any previous <br />tax abatements. The properly is zoned for <br />the proposed project. The property is located <br />in the Airport Economic Development Area, <br />which is a tax increment allocation area; <br />therefore, the petition for real property tax <br />abatement must first be approved by the <br />South Bend Redevelopment Commission. <br />Mr. Mathia noted that the project does not <br />qualify for tax abatement under the tax <br />abatement ordinance, but has requested a <br />special exception from the Common Council. <br />When the tax abatement ordinance was last <br />redone, they updated the reference to the <br />North American Industry Classification <br />(NAIC) System which defines the kind of <br />warehouses which qualify. However, they <br />updated the reference, but didn't update the <br />list of types of warehouses. The reference <br />refers to groups 421, 422, and 493 in the <br />NAIC System. In the version 2002, referred <br />to in the ordinance, groups 421 and 422 are <br />no longer there. The activities described <br />under those groups are included in a couple <br />of other groups. The attorney for the <br />Common Council suggested requesting a <br />Special Exception and then correcting the <br />ordinance later. <br />Mr. Mathia noted that, if approved, the total <br />taxes to be abated during the three years of <br />abatement are estimated at $79,214. The <br />total taxes to be paid during that three year <br />period are estimated to be $56,076. <br />