The matter of First Bank and Trust Company

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REPORT OF CITY OF SOUTH BEND ECONOMIC DEVELOPMENT COD2,4ISSION MAKING CERTAIN ESTIMATES Pursuant to the Municipal Economic Development Act of 1965 as amended, the City of South Bend Economic Development Commission is required to make certain estimates in regard to the proposed acquisition of an industrial project by the city of South Bend which is to be leased to Land Trust Igo. 29-5121 , the owner of said land trust being A.G.A. Realty Company of South Bend and Indiana Partnership. The estimates are as follows : (1) The number of public services or facilities, including streets, sidewalks, schools , sewers, street lights, fire and police protection which would be made additionally necessary or desirable on account of the proposed acquisition are none and the expenses therefore arc none. (2) The total project cost of the proposed facilities, including all necessary financial costs , will be in the amount of $1.6 million and not to exceed 52 . 2 million. The actual dollar amount is unascertainable it tl;is moment, pending conclusion of negotiations with potential lessees . (3) The number of jot's to be created by the proposed acquisition, construction and leasing thereof will be approximately 50, ranging upwards to a possible high of 75, and the estimated annual payroll will be from $250,000 to $375,000. The completion of the JMS Buildinl- and the addition of the new section on the land recently bid and purchased from the Redevelopment Commission will all be in compliance with R-ob , the plan for the redevelopment of South Bend, and we are sure that this will be a handsome addition to the city and provide a welcome increase in the tax base.