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South Bend Redevelopment Commission <br />Regular Meeting -July 20, 2007 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />continue ... <br />looking at a project where they had two <br />choices, stay on site or grow somewhere else. <br />They chose to stay on site. The Commission <br />worked with them to move United Drive. <br />They bought the land for the new roadway <br />and for the expansion. They are an anchor in <br />the Studebaker Corridor. This is a great <br />opportunity to expand an existing business <br />and keep a building occupied. It's a good <br />use of public funds. <br />Mr. Downes: I agree. This is a good <br />example of a company that could have left an <br />area very easily several years ago and chose <br />to stay and make new investment. It's a <br />good use of public dollars. <br />Mr. McGowan: I'm the accountant for <br />United Beverage with Kruggel Lawton. <br />Currently, United Beverage pays over <br />$40,000 per year in property taxes, both real <br />estate and personal combined. During the <br />abatement period, Bob, I think you said <br />they'd be paying an additional $432,000. <br />This is injecting in excess of $400,000 <br />additional taxes into the community. <br />Mr. Downes made a motion to approve <br />Resolution No. 2357. Ms. Jones seconded <br />the motion. The motion failed on a vote of <br />two to one with Mr. Peczkowski opposed. <br />COMMISSION FAILED TO PASS RESOLUTION <br />No. 2357. <br />38 <br />