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South Bend I Redevelopment Commission <br />Regular ting - February 10, 1989 <br />6. NEW EWINESS (Cont.) <br />f. Continued... <br />b. <br />a portion of the money for the <br />work, title work and appraisals in <br />tion with the acquisition mentioned <br />r. <br />Upon a motion by Ms. Auburn, seconded by <br />Mr. Combs and unanimously carried, the <br />Commission approved the Community <br />De elopment Contract in the amount of <br />$44,247.00 for Monroe Park development. <br />Ms. Robinson read the staff report on the <br />tax abatement petition. <br />The petitioner, Calvin Murdock, proposes <br />to construct a building for office and <br />waadhouse, use. His company, Murdock & <br />Sons Construction Company, is primarily <br />encaged in the design and construction of <br />ccnmercial/industrial facilities. The <br />prcject will create three new jobs with <br />an expected annual payroll of $70,000 and <br />will maintain twelve existing full-time <br />jobs and twenty permanent part -time jobs <br />wita an annual payroll of $450,000. The <br />estimated project cost is $270,000. <br />The property is properly zoned for the <br />proposed use. The property is located in <br />an area designated as a Tax Abatement <br />ct Area by the South Bend Common <br />Council and is also located in a Tax <br />Incremental Financing Allocation Area. <br />The petitioner's SIC Code is 1542 and <br />does not meet the criteria for real <br />pr tax abatement. <br />Mrs <br />Kolata noted that Mr. Murdock <br />ntly operates a construction <br />Bess on the corner of Broadway and <br />5D <br />CESSION APPROVED THE COMMUNITY <br />DEVELOPMENT CONTRACT IN THE <br />AMOUNT OF $44,247.00 FOR MONROE <br />PARK DEVELOPMENT <br />