RM 02-25-83 - Laserfiche WebLink

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South Bend Regular Mee 6. NEW BUS a. Com aba elopment Commission - February 25, 1983 for a tax est relative to an area com- money referred to as 3511 Gagnon ( Kawneer Mr. Hunt explained that Commission approval is requested for a tax abatement request relative to an area corrunonly referred to as 3511 Gagnon Avenue in Phase IV of the Airport Ind strial Park for Kawneer Company which is the parent company for South Bend Screw Pro- ducts. As you know we are in the process of closing on the property South Bend Screw Pro- ducts has in the East Bank area. Approval of thi tax abatement will allow them to stay in Sou Bend and to expand their operation. Mr. Lee explained that the total project cost is estintated at $500,000 for land and building. There is a potential of 25 jobs retained and a possibility of 22 new jobs with further ex- pansion. Mr. Kunst, manager of South Bend Scr w Products, was present to answer further Ms.- Derbeck asked if South Bend Screw Pro - duc s was also getting relocation money. Mrs Kolata stated that the relocation money is independent of tax abatement and will be used to pay the actual costs of relocating. Mr. Bessire stated that as a representative of the Industrial Foundation, he supported the tax abatement request. He also explained that the Industrial Foundation had been work- ing with Kawneer and South Bend Screw Products for several months to insure that they stayed in 8outh Bend. Upor a motion made by Mr. Robinson, seconded by Mr. Piasecki and unanimously carried, the staff report recommending tax abatement for Kawreer Company at 3511 Gagnon was approved. b. gam#ssion approval requested for the follow- ing loans in connection with the Rehabilitation -3- TAX ABATEMENT FOR KAWNEER COMPANY AT 3511 GAGNON VAS APPROVED