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Community & Economic <br />(�) /3 ( s/) <br />SOUTH 6� <br />IV <br />Development �a <br />1865 <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235 -9021 <br />To: Redevelopment Commission <br />From: Matthew Sikora, Economic Development Planner <br />Subject: Request for approval of Contract for Sale <br />Date: April 12, 2011 <br />Attached for approval is the "Contract for Purchase and Sale" for a proposed development <br />in Oliver Industrial Park. Oliver Plow Partners, L.P. plans to construct an approximately <br />40,000 SF building (of which 5,500 SF is office and showroom) at a cost of $1,750,000 for <br />its tenant ABC Supply Company. The project will retain 10 existing jobs and one part -time <br />job with a total annual payroll of $419,958, while adding two more positions totaling $65,000 <br />per year. <br />The contract includes a sale price of $22,000 for a 4.64 acre portion of Oliver Industrial Park <br />Lot #8 (7.84 acres) and an agreement for the Commission to utilize up to $200,000 in TIF <br />funds to complete necessary site improvements and a commitment to ensure the <br />environmental integrity of the site. <br />Staff seeks approval of the "Contract for Purchase and Sale" by the Commission. <br />What We Do Today Makes A Difference! <br />