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South Bend Redevelopment Commission <br />Regular Meeting –December 19, 2008 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />A. Tax Abatements <br /> <br />(1) continued… <br /> <br />Mr. Mathia gave the staff report on the <br />project. The Northeast Neighborhood <br />Revitalization Organization, Inc. and Weiss <br />Homes, Inc. intend to construct two new <br />single family homes. The homes will have <br />approximately 1,300 square feet excluding <br />the basement and will consist of three <br />bedrooms, two to two and a half baths, and <br />an attached two car garage. The cost of the <br />two homes will be approximately $280,000. <br /> <br />The Northeast Neighborhood Revitalization <br />Organization, Inc. has not been granted any <br />previous tax abatements. Weiss Homes has <br />been associated with eight abatements which <br />were granted to Kendall- Weiss, LLP <br />between July 2004 and January 2008. The <br />Building Commissioner has reviewed this <br />petition and finds the properties to be <br />properly zoned for the proposed project. The <br />property is located in the Northeast <br />Neighborhood Development Area, which is a <br />Tax Incremental Allocation Area; therefore, <br />approval of the tax abatement petition by the <br />South Bend Redevelopment Commission is <br />required. The project qualifies for a (5) five- <br />year residential tax abatement under the tax <br />abatement ordinance. <br /> <br />Mr. Mathia noted that total taxes to be abated <br />during the (5) five-year abatement period are <br />estimated at $5,508. Total taxes to be paid as <br />a result of the project during the (5) five-year <br />abatement period are estimated at $10,739. <br /> <br />Mr. Varner noted that infill housing like this <br /> 4 <br /> <br />