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Council approves six-year tax abatement for Cascade Phase 2 mixed-use project
Summary
The council approved a 6-year real-property tax abatement for Cascade Phase 2, a proposed $50 million, 8-story mixed-use development; staff estimated roughly $2.7 million in taxes abated over six years and projected $13.8 million in tax revenue over 20 years.
The South Bend Common Council voted unanimously on April 27 to approve a six-year real-property tax abatement for Cascade Phase 2, a proposed mixed-use development in the East Bank area.
Eric Glavich, director of growth and opportunity, presented the request and said the phase would be an eight-story, roughly 112,000-square-foot building with about 30,000 square feet of commercial space. Staff estimated the project cost for…
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