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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting - March 31, 1994 <br />6. NEW BUSINESS (Cont.) <br />j. Commission approval requested for <br />Resolution No. 1241 =roving an application <br />for real property tax deduction for property <br />located at 4320 Ralph Jones Court in the <br />Airport Economic Development Area. (BHD <br />Properties) <br />Mr. Beitzinger read the staff report on the <br />project. Dearborn Crane intends to build a <br />new "world class" facility on lot 11 in the <br />Toll Road Industrial Park. The three major <br />components of the crane manufacturing <br />process are welding, fabricating and <br />handling. The handling efficiency will be <br />addressed by the new physical plant, while <br />the new equipment is essential to solve the <br />AV problems of welding and fabricating. <br />The manufacturing process is primarily of <br />steel and its subsequent assembly into a <br />finished product. Other than a small amount <br />of painting, the operation is virtually <br />pollution/hazardous waste free. The building <br />will be approximately 30,450 square feet at a <br />cost of approximately $700,000. The new <br />machinery and equipment is estimated to cost <br />around $250,000. <br />The project will create between two and four <br />permanent new jobs within the first year <br />representing an annual payroll of between <br />$60,000 and $130,000. The project will also <br />maintain twenty -four full time and three part <br />time jobs representing an annual payroll of <br />$1,010,000. <br />The petitioner has not been granted any <br />previous tax abatement consideration. The <br />L <br />-5- <br />