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South Bend Redevelopment Commission <br />Special Meeting —April 15, 2002 <br />6. NEW BUSINESS (CONT.) <br />B. Sample -Ewing Development Area <br />(5) continued... <br />an 800,000 sq. ft. warehouse /distribution <br />center at the southeast corner of Sample <br />and Olive Streets. A. J. Wright sells off - <br />price apparel at 46 retail locations <br />throughout the United States. This <br />warehouse /distribution center will <br />service its Midwest locations and allow <br />for an expansion of its Midwest <br />operations. <br />The project will be completed in two <br />phases. An initial 500,000 sft. Phase I <br />will break ground in July 2002 and a <br />second 300,000 sft. Phase II is expected <br />to break ground in July of 2004 and be <br />completed by July 2005. The buildings <br />will be built on over seventy acres of <br />land in the Sample -Ewing Development <br />Area. The estimated cost of the building <br />is $24,000,000, while land costs have <br />been estimated at nearly $2.5 million. In <br />addition, equipment expenses (which are <br />not eligible for personal property tax <br />abatement) have been estimated at $20 <br />million making the total project cost <br />nearly $47 million. <br />It is estimated that this project will create <br />one hundred and forty new permanent <br />jobs within the first year, representing a <br />new annual payroll of $2.2 million. This <br />figure does not include benefits, which if <br />added would raise the total payroll to <br />over $2.6 million. In addition, the <br />petitioner is estimating that within five <br />