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The matter of Hoffman Bros. Sales and Service, Inc. and/or Auto Electric Warehousing, Inc.
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The matter of Hoffman Bros. Sales and Service, Inc. and/or Auto Electric Warehousing, Inc.
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5/2/2017 10:07:39 AM
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5/2/2017 10:07:37 AM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
10/10/1972
Ord-Res Number
337-72
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t <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 /> on land located at 1110 East Madison Street, South Bend, Indiana. Said <br /> land is owned by Auto Electric Warehousing, Inc. of South Bend, Indiana. <br /> The estimates are as follows: <br /> (1) The number of public services or facilities, including <br /> streets, sidewalks, schools, sewers, street lights,, fire and police <br /> protection which would be made additionally necessary or desirable <br /> on account of the proposed acquisition are none and the expenses <br /> therefore are none. <br /> (2) The total project cost of the proposed facilities, including <br /> all necessary financial costs, will be $110, 000. 00. <br /> (3) The number of jobs to be created by the proposed acquisition <br /> will be approximately 7 to 10, with an estimated payroll increase <br /> from $105, 000. 00 to $150, 000. 00. <br /> This land is properly zoned and the construction of the additional <br /> facility to the existing plant will be in conformity to the area and will <br /> provide an increase in the tax base. A firm commitment letter to purchase the t <br /> bonds has been received by the Commission from a local institution. <br /> 0 <br /> , <br /> 7 <br /> i <br />
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