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G <br />South Bend Redevelopment Commission <br />Regular Meeting - October 7, 1994 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />Mrs. Kolata asked that the proposal be <br />referred to staff for review and <br />recommendation. <br />Upon a motion by Mr. Donoho, seconded <br />by Mr. Piasecki and unanimously carried, <br />the Commission referred the proposal to the <br />staff for review. <br />b. Commission approval requested for <br />Resolution No. 1290 approving the <br />application for personal property tax <br />deduction for property located at 1701, <br />1801, 1818, and 1819 S. Main Street in <br />the Sample -Ewing Development Area. <br />(Wells Electronics) <br />Mr. Beitzinger read the staff report on the <br />project. Wells Electronics is a manufacturer <br />of electronic components and accessories for <br />the electronics industry. Their project calls <br />for the installation of over $3,000,000 worth <br />of new manufacturing equipment over the <br />next two years. The new equipment is <br />necessary to improve the manufacturing <br />process of current products and to enable the <br />company to produce new products. <br />It is estimated that the project will create <br />five new permanent full-time jobs in the first <br />year, representing an annual payroll or <br />$150,000 and another five new permanent <br />full-time jobs in the second year with an <br />additional annual payroll of $150,000. The <br />project will also maintain one hundred and <br />eighteen existing permanent full-time and <br />-5- <br />COMMISSION REFERRED TO STAFF FOR <br />REVIEW THE PROPOSAL RECEIVED FOR <br />PROPERTY LOCATED AT 310 W. MONROE <br />