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South Bend Redevelopment Commission <br />Regular Meeting - -May 21, 2004 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 2056 approving an <br />application for real property tax <br />deduction for property located at <br />5550 W. Cleveland Road in the Airport <br />Economic Development Area. (USF <br />Holland, Inc.) <br />Mr. O'Brien reported that USF Holland is a <br />less- than - truckload carrier providing <br />logistics and just -in -time trucking operations <br />supporting its customers throughout the <br />United States and beyond. The petitioner <br />proposed to construct a new 100 door <br />terminal facility, which will be <br />approximately 63,000 sq. ft., between <br />Cleveland Road and the Indiana Toll Road. <br />The project is estimated to cost between <br />IL $6.2 and $6.5 million and reflects the need <br />for expansion of the existing South Bend <br />operation to accommodate anticipated <br />growth. It is estimated that this project will <br />create fifteen (15) new permanent jobs <br />within the first year, representing a new <br />annual payroll of $825,000. It is also <br />estimated that this project will retain 258 <br />full -time jobs representing an annual payroll <br />of $15,800,000. <br />A review of the tax abatements previously <br />granted finds that the petitioner has been <br />granted two previous tax abatements. The <br />building commissioner has reviewed the <br />petition and finds the property to be properly <br />zoned for the proposed project. A review of <br />the South Bend Redevelopment designation <br />areas finds that the property is located in the <br />Airport Economic Development Area, which <br />is a Tax Increment Allocation Area; <br />