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South Bend Redevelopment Commission Special Meeting August 8, 1980 6. NEW BUS MSS: d. Tax Abatement re st from Homer Fit er . re ative `to An area tobe purchased by New'En6rgy Mr. Ellison: Mr. Kernan, City Controller, who is the administration's coordinator for this project is present, along with Mr. Dick Mintz who represents the New Energy Corporation, and Mr. Cal .Todd who is also part of the New Energy Cor- Mr. . Mintz: I an here on behalf of Mr. Fitterling who owns a piece of property of approximately seventy acres on the southwest side of the City of Sou Bend. I am also here on behalf of the New Energy Corporation of Indiana, who has an option on that property and who intends to construct a large scale ethmol.plant. The plant will cost approximately one hundred million dol ars to construct. It will process co into fuel alcohol. During the process of construction there will be be en 300 -500 contruction workers on ite. After the project is completed it 'l1 have 130 permanent employees in the plant and it is estimated that approxi- mately three times that number outside of the plant. For instance, we have an estimate from a trucking fire that says there will be 243 jobs created in that in try alone. The land in question (a 0 acre parcel) is located just north of the extension of Calvert Street. This is a site that is just west of Olive Street. The site itself is the best sita that we could find inside the City of 3outh Bend. However, it is classically an underutilized site. Probably the biggest pro lem with the site and the reason it may be underutilized (even though it nay hav been setting there on a railroad track) is t there is some three feet of what I cal - "muck" which has to be removed in ord r for that site to be utilized. It needs to be removed so that it will be a normal ind trial site. On behalf of New Energy, -12-