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RM 04-15-94
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RM 04-15-94
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G <br />South Bend Redevelopment Commission <br />Regular Meeting - April 15, 1994 <br />6. NEW BUSINESS (Cont.) <br />continued... <br />northeast corner of Main and Broadway <br />Streets. The completed building will be <br />almost 20,000 square feet, but will be built <br />in two phases. The first phase will consist <br />of 13,300 square feet. A minimum of eight <br />units of approximately 1, 600 square feet <br />each will be built to house small businesses <br />involved in warehousing, light <br />manufacturing or service types of industries. <br />The second phase of approximately 6,650 <br />square feet will allow for expansion of units <br />to adjacent spaces to increase their space. <br />The total cost of the project is estimated to <br />be $230,000. <br />Awl <br />While it is not known at this time how many <br />jobs the project will create, it will create a <br />series of construction jobs and construction <br />related jobs during the building process. It <br />is also estimated that between eight and <br />thirty -two people will work at the facility <br />once the project is complete. <br />Richard Allen has not been granted any <br />previous tax abatement consideration. <br />The property is properly zoned for the <br />proposed use. The property is located in a <br />Tax Abatement Impact Area and is also in <br />the Sample -Ewing Development Area. The <br />project qualifies for a ten -year real property <br />tax abatement under the Tax Abatement <br />Ordinance. <br />A summary of the cost of the abatement <br />shows that, assuming a project cost of <br />-15- <br />
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