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South Bend Commission Regular Mee �edevelopment ing - November 2, 1979 6. NEW BUSINESS d. Mr.ISzarwark continues... BenJ Fabricating, for an $80,000 per year annual pay- roll increase. Also, what we hope to do by improving this area by putting in a modern plant and an access roa , is to make this whole area somewhat more desirable for new industries to come in. The rest of the land wil be available for new industry, hopefully.for new lig t industry construction. There will be access to it. I t ink that this will be really in consonance with what you're doing nearby. This Commission apparently intends to declare a large portion of the adjacent area, a redevelop- ment area, purchase property and eventually end up selling and redeveloping the while area. In order to proceed witi our project we are going to need tax abatement relief. Ess ntially, South Bend Fabricating, is really a company that is coming back from several years of losses and great difficulty. I think it's taking a significant risk here considering the area of town, and considering its history. It would like assistance, in the form of tax abatement, to nake the project more financially viable. In talking witi Mr. Reynolds, President of the company, he assures me that tax abatement is necessary in order to make the project go. Mr. Reynolds had previously been in contact witi Mr. Eckerle, who indicated that this Commission would consider declaring this a special district area sub equent to it's declaration of the adjacent area as a r development area. This is not feasible at this tima because we need to get moving on our building as sooi as possible. We would like to start building before winter comes in, essentially because we would like to get into the building as soon as possible. The present building where they are located is old and has serious heating problems, quite frankly it's difficult to keep the factory open, heated and comfort- able for the employees throughout the winter. So, if we can move out before or sometime during the winter and move into an ultra new building this would be excellent for productivity purposes. Ladies and gentlemen are there any questions you would lit me to answer? Mr. Nimtz: (Referring to the map) You may have lost me someplace, is this Lincoln Way East? Mr. Szarwark: I believe so, here's Sample Street, and he e's High St. 1VJ3