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South Bend Redevelopment Commission <br />Regular Meeting - May 20, 1994 <br />6. NEW BUSINESS (Cont.) <br />a. Continued... <br />facility to be leased to Midwest <br />Embroidery, Inc. of South Bend. The <br />proposed purchase price is $17,000 per <br />acre, or approximately $238,000 for the <br />entire ±14 acre parcel. <br />Midwest Embroidery is a manufacturer and <br />supplier of high quality embroidered and <br />screen printed garments. Currently the <br />company is located at 3600 McGill in <br />South Bend (Airport Industrial Park -Phase <br />IV). The company is leasing two spaces <br />for its current operation, the main facility <br />on McGill and a second warehousing <br />facility, also in South Bend. The company <br />was founded in South Bend in 1984. Ten <br />years later, the company has grown <br />substantially, with a 3000% increase in <br />staff. The company currently employees <br />92 people. The proposed project will add <br />an additional 15 jobs. <br />Lot 15 is approximately 14 acres in size. <br />The site, currently without access to <br />utilities, will be served late this summer <br />with the construction of William <br />Richardson Court (expected start of <br />construction is late May.) The proposed <br />purchase price is $238,000 for the entire <br />±14 acre parcel. The price per acre as <br />proposed is $17,000. <br />Recent sales in the Toll Road Industrial <br />Park have been at a price of approximately <br />$18,000 per acre. The staff recommends <br />accepting this proposal as submitted at <br />-4- <br />