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Council OKs Abatement For First Leg of $50M Plan

Tuesday, September 22, 2015 05:06 PM EDT Updated: Wednesday, September 23, 2015 08:48 AM EDT
Council OKs Abatement For First Leg of $50M Plan (Image courtesy of the St. Joseph Chamber of Commerce) Property around Beutter Park is the focus of several developments.

The Mishawaka City Council has approved tax abatement for the initial phase of a potential $50 million project. The five-year abatement for Barak Group LLC involves a $10 million condominium development and a cafe along the banks of the St. Joseph River.

This round of construction could include up to 40 condos. Construction could begin next year and additional phases could seek approval and abatement as the project progresses.

Overall, plans call for condos, apartments and a boutique hotel and conference center.

The South Bend Tribune reports the land is located where a Uniroyal plant once stood and has not been on the tax rolls in more than 20 years.

Story Continues Below

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Perspectives

Factors in determining your company’s value

Factors in determining your company’s value

Determining the right asking price is crucial for a successful sale. An accurate valuation of your business requires considering multiple factors, such as financial performance, assets, intellectual property, customer base, and market share. Careful analysis of your business's unique attributes and the current market landscape can aid in setting a competitive and realistic asking price. Here are some key points to consider regarding the influence of market pricing on the timing of a company sale....

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