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South Bend Redevelopment Commission <br />Regular Meeting -February 15, 2008 <br />6. NEW BUSINESS <br />A. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 2436 approving an <br />application for personal property tax <br />deduction for property located at 3445 <br />William Richardson Drive in the Airport <br />Economic Development Area. (Lake <br />Michigan Mailers/Jade Elephant Holding) <br />Mr. Mathia noted that Item 6. A (1) and <br />6.A(2) are related in that they are real and <br />personal property abatement requests for the <br />same company. Lake Michigan Mailers, Inc. <br />dba Jade Elephant Holding, LLC is <br />proposing to develop a 4.75 acre site to <br />include construction of an approximate <br />13,000 square foot mail assembly and <br />document processing facility. The facility <br />will also serve as a "hot site" for disaster <br />recovery for Lake Michigan Mailers' <br />document creation and mail assembly <br />operations located in Kalamazoo, Michigan. <br />In addition, the site will serve as a sales <br />facility and customer training site for <br />customers located in northern Indiana. The <br />estimated cost of the building is $720,000. <br />The site is currently owned by Ancon <br />Construction Company. It will be purchased <br />by Jade Elephant Holding which will in turn <br />lease the site to Lake Michigan Mailers, Inc. <br />Lake Michigan Mailers will own the <br />equipment placed on the site. <br />The new equipment to be installed on the site <br />has a total estimated cost of $1,216,873. It <br />will be used for mailpiece assembly, <br />mailpiece bar-coding, sorting and <br />preliminary distribution, data processing and <br />management, and document creation and <br />4 <br />