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.. 7 <br /> 757 <br /> i <br /> REPORT OF CITY OF SOUTH BEND <br /> ECONOMIC DEVELOPMENT COMMISSION <br /> MAKING CERTAIN ESTIMATES <br /> Pursuant to the Municipal Economic Development Act of 1965 as <br /> amended, the City of South Bend Economic Development Commission is <br /> required to make certain estimates in regard to the proposed construction <br /> and equipping of a facility and purchase of real property at the intersection <br /> of U. S. 31 South and Kern Road by Sergio,, Inc. , an Indiana Corporation. <br /> The estimates are as follows: <br /> (1) The number of public services or facilities, including <br /> streets, sidewalks, schools, sewers, street lights, fire <br /> and police protection which would be made additionally <br /> necessary or desirable on account of the proposed acquisition <br /> are none and the expenses therefore are none. <br /> (2) The total project cost of the proposed facility, will be <br /> $375, 000. 00 which will cover purchse of real estate and <br /> construction and equipping of a shopping center. <br /> (3) The number of jobs to be created by the proposed facility <br /> would be upwards of 45 new people. The estimated annual <br /> increased payroll would be $270, 000. 00. <br /> Sergio, Inc. operates an established pharmacy business in our <br /> community. This proposed facility will increase the tax base and require <br /> utilization of our local construction industry to build the facility. <br /> a <br />