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South BendlRedevelopment Commission <br />Regular Me ting - November 22, 1985 <br />6. NEW BUSINESS (Cont.) <br />f. Corhtinued.. . <br />Ms Hedy Robinson reported that the applicant <br />is Mossberg & Company which is in the <br />coiimercial printing business servicing <br />customers within a 150 mile radius, <br />particularly in the color brochure, label and <br />annual report markets. All information <br />requested on the petition was supplied. The <br />property is properly zoned for the proposed <br />use. The property is located in an area <br />designated as a Tax Abatement Impact Area by <br />th South Bend Common Council and is also in a <br />Tax Incremental Financing Area. The <br />petitioner purposes to install new equipment <br />in their present location at 301 E. Sample <br />Street. This represents an expansion into a <br />new frontier in the printing business for the <br />company, and is a potential growth area which <br />may generate additional expansion in the <br />future. The project will create 4 to 5 new, <br />pe ent, full -time jobs, representing a new <br />annual payroll of $100,000 to $125,000, and <br />will maintain at least 15 existing permanent <br />full-time jobs with an annual payroll of <br />$300,000. The estimated total equipment cost <br />is $750,000. The estimated taxes to be abated <br />ov r a five year period would be $56,413. The <br />es imated taxes to be paid on the project over <br />a ive year period would be $14,910. <br />Mr� Ernest Szarwark was present representing <br />th applicant for any questions of the <br />Upon a motion made by Mr. Piasecki, seconded <br />by Mr. Donoho and unanimously carried, the <br />Conmission approved Resolution No. 754 <br />approving an application for personal property <br />tax abatement. <br />g. Ccumission approval requested for Resolution <br />No. 755 amending Section 19 of and adding <br />Section 20 to Resolution No. 747. <br />This item was added to the agenda. <br />Mr. Hunt explained that Resolution No. 755 <br />deletes the old Section 19 of Resolution No. <br />74 relating to the Tax Incremental Financing <br />Bo rd and will add Section 20. <br />Wom <br />COMMISSION APPROVED RESOLU- <br />TION NO. 754 APPROVING AN <br />APPLICATION FOR PERSONAL <br />PROPERTY TAX ABATEMENT <br />