08-03-07 Redevelopment Commission Minutes

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South Bend Redevelopment Commission Regular Meeting –August 3, 200' Foundation Court in the Airport Economic Development Area. Mr. Downes seconded the motion. The motion carried on a vote of four to one with Mr. l ec l owski opposed. (3) Commission approval requested for Resolution No. 2355 approving an application for real property tax deduction for property located at 5855 Carbonmill Dr. In the Airport Economic Development Area. (GWSB—Corporate Services, lessee) Mr. Schalliol gave the staff report on the project. GWSB owns the property and leases to Corporate Services. The building is not air conditioned. Corporate Services provides print materials and needs a climate controlled environment. So the project.].s to install a new HVAC system to control humidltyfor the tenant, Corporate Services. The estimated cost is $300,000 to $500,000. The project qualifies for six years of abatement tinder the tax abatement ordinance. The amount to be abated would be $36,944 to $60,157, depending on the ultimate project cost. Taxes to be paid would be $25,430 to $42,380. The project is expected to create eighteen permanent full- -tine obs in the first year w1th an annual payroll of $465,000 and will maintain six existing full -tine jobs with an annual payroll of $1 56,000. 1r. Downes made a notion to approve Resolution No. 2355 approving an application for real property tax deduction for property located at 5855 Carbonrnxll Dr. in the Airport Economic Development Area. Mr. Ding seconded the motion. The motion passed on vote of four to one with Mr. Pec kows i opposed. (4) Commission approval requested for X I A I EERING COMMISSION APPROVED RESOLUTION No. 2355 APPROVING AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION FOR PROPERTY LOCATED AT 5 85 5 C R C NM ii-i_ DR. 1N TH E AIRPORT ECONOM i ` DEVELOP EM, AREA. WB, CORPORATE SEIMCES, LESSEE)