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South Bend Redevelopment Commission <br />Regular Meeting -July 20, 2007 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />(4) Commission approval requested for <br />Resolution No. 2358 approving an <br />application for real property tax deduction <br />for property located at 624 N. Notre Dame <br />Ave. in the Northeast Neighborhood <br />Development Area. <br />Mr. Mathia gave the staff report on the <br />project. Notre Dame Avenue LLC intends to <br />develop eight townhouses at 624 N. Notre <br />Dame Ave. The townhouses will vary from <br />two to four bedrooms,1800 to 2200 sft. The <br />price range will be from $325,000 to <br />385,000. Total taxes to be abated for each <br />townhome is estimated at $10,252. Taxes to <br />be paid vary by the price of the house from <br />$23,760 to $30,749. <br />Mr. Nemeth noted that this development is <br />south of the Kite development. The <br />townhomes will not be marketed to alumni. <br />Three units are presold so far, all to local <br />families who choose to stay in South Bend. <br />Mr. Downes asked if this property contained <br />the former McGann funeral home. Mr. <br />Nemeth responded that it did. Then it housed <br />Big Brothers/Big Sisters. The property has <br />not paid taxes in twenty years. <br />Mr. Peczkowski: Without the tax abatement, <br />you won't do the project? <br />Mr. Nemeth: I can't say that for sure. That <br />would certainly make things more difficult. <br />It's a big gamble being south of South Bend <br />Avenue. VUe won't benefit much from <br />what's happening around the university. The <br />39 <br />