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South Bend Redevelopment Commission <br />Regular Meeting - December 16, 1994 <br />6. NEW BUSEWSS (Cont.) <br />d. continued... <br />Upon a motion by Mr. Piasecki, <br />seconded by Mr. Sharp and unanimously <br />carried, the Commission authorized <br />signing the tax abatement petition on <br />behalf of the Fire Fighters' Federal <br />Credit Union. <br />Mr. Beitzinger read the staff report on <br />the project. The Fire Fighters' Federal <br />Credit Union proposes to relocate the old <br />Policemen's Credit Union building from <br />its present site at 815 S. Lafayette Blvd. <br />to 1122 South Main Street (next to the <br />new Policemen's Credit Union building). <br />The building itself is 1, 682 square feet <br />and will be completely renovated, <br />including an all new brick exterior. <br />Additionally, new driveways, drive - <br />through lanes, sidewalks, curbs and <br />landscaping will be added to complete <br />the project. The total cost of the project <br />is estimated at $200,000. <br />It is estimated that this project will create <br />one new job in the first year, <br />representing a new annual payroll of <br />between $15,000 and 17,000, and will <br />retain four existing permanent, full-time <br />positions, representing an annual payroll <br />of $90,000. <br />The Fire Fighters' Federal Credit Union <br />has not been granted any previous tax <br />abatement consideration. The project is <br />properly zoned for the proposed use. <br />The property is located in an area <br />-9- <br />COMMISSION AUTHORIZED SIGNING THE <br />TAX ABATEMENT PETITION ON BEHALF OF <br />THE FIRE FIGHTERS' FEDERAL CREDIT <br />UNION <br />