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South Bend Redevelopment Commission <br />Regular Meeting — April 15, 2005 <br />6. NEW BUSINESS (CONT.) <br />A. Public Hearings <br />(4) continued... <br />January 1, 2005, and ending December 31, <br />2005, including all outstanding claims and <br />obligations, fixing a time when the same <br />shall take effect. (Fund 425, Leighton Plaza <br />Retail Space and Leighton Plaza Courtyard) <br />B. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 2161 approving an <br />application for real property tax deduction <br />for property located at Lot 5 of the US 31 <br />Industrial Park Phase II in the Airport <br />Economic Development Area. ( Stanz <br />Cheese Co., Inc. d /b /a Stanz Foodservice, <br />Inc.) <br />Mr. Schaffer reported that the petitioner is a <br />full line food service distribution business <br />which serves customers within a 100 -120 <br />mile radius of South Bend. Stanz uses its <br />warehouse and distribution facility to store <br />dry and frozen goods to facilitate the transfer <br />and delivery of such goods to customers <br />throughout Northern Indiana and Southern <br />Michigan. The company plans to build a <br />100,000 square foot building on 19.58 acres <br />in the US 31 Industrial Park in the Airport <br />Economic Development Area. The cost of <br />the project will be $7,000,000. <br />This project will maintain 172 jobs <br />representing an annual payroll of $6,730,000. <br />The company is not projecting any job <br />creation from the project. A review of the <br />tax abatements previously granted finds that <br />the petitioner was granted a five year tax <br />c <br />BEGINNING JANUARY 1, 2005, AND ENDING <br />DECEMBER 31, 2005, INCLUDING ALL <br />OUTSTANDING CLAIMS AND OBLIGATIONS, <br />FIXING A TIME WHEN THE SAME SHALL TAKE <br />EFFECT. (FUND 425, LEIGHTON PLAZA RETAIL <br />SPACE AND LEIGHTON PLAZA COURTYARD) <br />