RM 05-22-92 - Laserfiche WebLink

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G South Bend Redevelopment Commission Regular Meeting - May 22, 1992 6. NEW BUSINESS (Cont.) h. continued... repair to it would make it look like a patchwork quilt. Upon a motion by Mr. Faccenda, seconded by Mr. Piasecki and unanimously carried, the Commission approved Resolution No. 1060 approving an application for real property tax deduction for property located at 322 E. Colfax Avenue (Brett Plaza One, Inc.), subject to the receipt of documents establishing that financing is in place, the building is fully leased, and that the parking arrangements have been secured. i. Commission approval requested for Resolution No. 1061 approving an application for real property tax deduction for property located at 3300 N. Kenmore Street in the Airport Economic Development Area. (Spin -Cast Plastics) Mr. Fonash read the staff report on this project. The petitioner is involved in the manufacturing, sales, and shipping of rotationally molded plastic products. They propose to build a 37,290 square foot addition on the east end of their existing building to provide room for the future growth of the business. The space will be used as additional storage space for raw materials and inventory and will contain equipment for the manufacture of parts currently being designed. The total estimated cost of the expansion project is $700,000. The project will create five (5) new permanent full -time jobs in the first year, representing an annual payroll of $80,000 and will maintain sixty -five (65) existing permanent full -time jobs and one (1) existing permanent part -time job with an annual payroll of $1,169,000. COMMISSION APPROVED RESOLUTION NO. 1060 APPROVING AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION FOR PROPERTY LOCATED AT 322 E. COLFAX AVENUE (BRETT PLAZA ONE, INC.)