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South Bend Redevelopment Commission <br /> Regular Meeting—February 8, 2011 <br /> Company Incorporated. The new building <br /> will have a total of approximately 40,800 <br /> square feet. It will be a pre-engineered steel <br /> facility with a masonry wainscot or facade. <br /> The building will be of high quality and will <br /> match the character of the surrounding <br /> industrial uses in close proximity to the <br /> property. The estimated cost of the building <br /> is $1,750,000. <br /> ABC Supply Company is a distributor of <br /> exterior housing products. They are a <br /> primary supplier to the construction industry <br /> similar to other uses found within Oliver <br /> Plow Industrial Park. <br /> Oliver Plow Partners has just begun <br /> collecting information on potential suppliers <br /> and contractors for the project. For this <br /> reason they were unable to answer the <br /> questions related to suppliers of construction <br /> materials and construction contractors. They <br /> intend to submit this information prior to the <br /> Common Council meeting to consider its <br /> confirming resolution. At that time final <br /> points will be awarded and the length of the <br /> abatement term set. Based on current <br /> information, Oliver Plow Partners will score <br /> sufficient points for a four year term. If <br /> they score all of the points for construction <br /> they would have enough points for a seven- <br /> year abatement. For purposes of <br /> consideration of the Declaratory Resolution <br /> we are estimating the term at eight years to <br /> allow for the maximum amount. Anything <br /> less will result in a reduction in the amount <br /> of taxes abated. <br /> Assuming an eight year abatement term is <br /> approved at the Confirming Resolution, the <br /> total taxes to be abated during that term are <br /> estimated at $ 192,799. Total taxes to be <br /> 16 <br />