RM 10-16-92 - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting - October 16, 1992 6. NEW BUSINESS (Cont.) j. Commission approval requested for Resolution No. 1108 approving an application for real property tax deduction for property located at 110 S Hill Street in the South Bend Central Development Area. (Environmental Health Laboratories) Mr. Inks gave the staff report on the project. The petitioner, Environmental Health Laboratories, Inc., is a leading provider of laboratory analysis for the public water supply industry. MAS Technology Corporation currently operates its laboratories in a 5500 square foot building at 110 S. Hill Street. They propose to expand that building with an 11,000 square foot bi -level addition on three presently owned lots adjacent to the existing facility. The expanded portion will house much needed additional °. laboratory and office space. They will also acquire an adjacent property at 616 E. Washington Street to increase the available on -site parking. The project will create twenty (20) new permanent full -time jobs in the first year, representing an annual payroll of $475,000 and will maintain thirty three (33) existing permanent full -time jobs and five (5) part time positions with an annual payroll of $900,000. The property is properly zoned for the proposed use. The property is located in an area presently designated as an Economic Development Target Area, is in a Tax Abatement Impact Area, and is in a Tax Incremental Financing Allocation Area. The project qualifies for 6 years of real property tax abatement under the Tax Abatement Ordinance. Environmental Health Laboratories has not applied for a previous tax abatement. Without abatement the taxes on the project are estimated to be $169,729. -9-