10-19-01 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Regular Meeting— October 19, 2001 6. NEW BUSINESS (CONT.) b. Continued... Total project cost: $110,000 Estimated taxes over 5 yrs Without abatement $10,087 With 5 -yr abatement $2,522 Estimated cost of 5- yr abatement $7,565 Total project cost: $110,000 Mr. Beitzinger introduced Mr. Mike Urbanski, President, Garden Homes, and invited him to add to the report. Mr. Urbanski said that this particular property was missed when they applied for tax abatement last year. Of those they were able to start they have 11 houses up and have contracts on 3 or 4 more in that area. Upon a motion by Mr. Caldwell, seconded by Ms. Jones and unanimously carried, the Commission approval requested for Resolution No. 1850 an application for real property tax COMMISSION APPROVAL REQUESTED FOR RESOLUTION NO. 1850 AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION FOR PROPERTY LOCATED AT 2834 WEST CALVERT STREET IN THE SAMPLE -EWING DEVELOPMENT AREA. (G & M PROPERTIES) Estimated taxes over 5 yrs Without abatement $12,608 With 5 -yr abatement $5,043 Estimated cost of 5- yr abatement $7,565 Mr. Beitzinger introduced Mr. Mike Urbanski, President, Garden Homes, and invited him to add to the report. Mr. Urbanski said that this particular property was missed when they applied for tax abatement last year. Of those they were able to start they have 11 houses up and have contracts on 3 or 4 more in that area. Upon a motion by Mr. Caldwell, seconded by Ms. Jones and unanimously carried, the Commission approval requested for Resolution No. 1850 an application for real property tax COMMISSION APPROVAL REQUESTED FOR RESOLUTION NO. 1850 AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION FOR PROPERTY LOCATED AT 2834 WEST CALVERT STREET IN THE SAMPLE -EWING DEVELOPMENT AREA. (G & M PROPERTIES)