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South Bend Redevelopment Commission <br />Regular Meeting— September 28, 2001 <br />6. NEW BUSINESS (CONT.) <br />a. Continued... <br />intersection. Their plans call for the <br />construction of a new 2400 square foot <br />facility which will provide them with more <br />working room, storage space, and parking. <br />The projected cost of the new facility and <br />related equipment is estimated at $150,000. <br />The project is scheduled to have all site <br />improvements completed by the end of the <br />2001 construction season. The time line for <br />this project is accelerated due to the need to <br />relocate before the fall and winter business <br />season. <br />Per the petition, it is estimated that this <br />project will create one new job representing <br />an annual payroll of $18,000 and will <br />maintain two existing permanent full -time <br />jobs and two existing permanent part-time <br />jobs with an annual payroll of $106,000. <br />Miami Auto Glass has not been granted any <br />previous tax abatements. The property is <br />properly zoned for the proposed project. The <br />property is located in the Sample/Ewing <br />Development Area, which is a Tax <br />Incremental Allocation Area; therefore, the <br />petition for property tax abatement must first <br />be approved by the South Bend <br />Redevelopment Commission. The petitioner <br />meets the qualifications for a three year real <br />property tax abatement under the tax <br />abatement ordinance. <br />With a total project cost of $137,000, the cost <br />of the abatement is estimated as follows. <br />�1 <br />