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South Bend Redevelopment Commission <br />Regular Meeting –March 6, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />A. Tax Abatements <br /> <br />(1) continued… <br /> <br />Development Area, which is a Tax <br />Incremental Allocation Area; therefore, the <br />petition for personal property tax deduction <br />must first be approved by the South Bend <br />Redevelopment Commission. The project <br />meets the qualifications for a five-year <br />personal under the tax abatement ordinance. <br /> <br />Mr. Andrews doesn’t believe that anyone <br />else in the world makes the product this <br />company does. They’ve had to develop their <br />own processes and machines. Sales have <br />increased three times over the last year. <br />They are opening their second location in <br />Lancaster, Pennsylvania. Only forklift tires <br />are recyclable, because they don’t have steel <br />belts in them. <br /> <br />CRN.2564 <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />APPROVING AN APPLICATION FOR PERSONAL <br />Mr. Varner and unanimously carried, the <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />Commission approved Resolution No. 2564 <br />445NSS <br />LOCATED AT ORTH HERIDAN TREET IN <br />approving an application for personal <br />AEDA. <br />THE IRPORT CONOMIC EVELOPMENT REA <br />property tax deduction for property located at <br />(TLLCAEDA) <br />READSTONE <br />445 North Sheridan Street in the Airport <br />Economic Development Area. (Treadstone <br /> <br />LLC AEDA) <br /> <br /> <br />B. Other <br /> <br />(1) Resolution No. 2570 authorizing the use of <br />certain tax increment revenues for the <br />reimbursement of the South Bend Major <br />Moves Fund. (Auten Road Connector <br />Project, 51270 Mayflower Rd) <br /> <br />Mr. Inks explained that the Board of Public <br /> 11 <br /> <br />