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w <br /> REPORT OF CITY OF SOUTH BEND <br /> ECONOMIC DEVELOPMENT COMMISSION <br /> MAKING CERTAIN ESTIMATES <br /> i' <br /> i <br /> Pursuant to the Municipal Economic Development Act of 1965 <br /> as amended, the City of South Bend Economic Development Commission <br /> is required to make certain estimates in regard to the purchase of real <br /> property and the construction of two facilities in Airport Industrial Park - <br /> Phase II by FBT Bancorp, Inc. 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 addition <br /> are none and the expenses therefore are none. <br /> (2) The total project cost of the proposed facilities will be <br /> approximately $700, 000. 00. <br /> (3) The number of jobs to be created by the proposed <br /> facilities would be approximately 22 with an estimated <br /> annual payroll increase of $150, 000. 00. <br /> This firm has been in operation in our community for many <br /> years. They had contemplated a move to another city for this facility. <br /> The construction of the proposed facilities would be in conformity to the <br /> area, will provide an increase in the tax base and would use the local <br /> construction industry in the construction of the facilities. A firm <br /> commitment to purchase the bonds has been received by the Commission. _ <br />