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South Bend Redevelopment Commission <br />Regular Meeting— September 7, 2001 <br />6. NEW BUSINESS (CONT.) <br />j. Continued... <br />This resolution is not a pledge or agreement to <br />use TIF revenues, only to consider the use if <br />needed. Further action would be necessary in <br />order to appropriate TIF revenues for the <br />repaying of the Loans. <br />Upon a motion by Mr. Caldwell, seconded by <br />Mr. Kahn and unanimously carried, the <br />Commission approved Resolution No. 1847, <br />agreeing to consider the use of available Tax <br />Increment Finance revenues for the payment, if <br />necessary, of the principal of and interest on <br />certain loans to be evidenced by the issuance of <br />the revenue bonds of the City of South Bend. <br />(Robert Bosch retention project) <br />a. Commission approval requested for <br />Resolution No. 1844, an application for a five <br />year personal property tax abatement for <br />property located at 2722 West Tucker Dr. in <br />the Sample -Ewing Development Area. (Steel <br />Warehouse, A & F Realty, and Nathan <br />Lerman Trust) <br />Mr. Beitzinger gave the staff report on the <br />project. Steel Warehouse, Inc., is a steel service <br />center specializing in flat rolled, low carbon <br />steel. Their latest project involves the <br />construction of a building addition of 40,000 sq. <br />ft. for expanded manufacturing, warehousing, <br />and related uses. The estimated cost of the <br />building addition is $1,100,000. <br />The project also involves the acquisition of new <br />manufacturing and material handling equipment <br />for processing and handling steel and steel <br />COMMISSION APPROVED RESOLUTION NO. <br />1847, AGREEING TO CONSIDER THE USE OF <br />AVAILABLE TAX INCREMENT FINANCE <br />REVENUES FOR THE PAYMENT, IF NECESSARY, OF <br />THE PRINCIPAL OF AND INTEREST ON CERTAIN <br />LOANS TO BE EVIDENCED BY THE ISSUANCE OF <br />THE REVENUE BONDS OF THE CITY OF SOUTH <br />BEND. (ROBERT BOSCH RETENTION PROJECT) <br />