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South Bend Redevelopment Commission <br />Regular Meeting - December 2, 1994 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />The renovations include upgrading the <br />electrical, new lighting and complete <br />interior and exterior painting. The <br />building addition will be utilized for office <br />space. The petitioner has indicated that <br />this project is necessary to facilitate the <br />continued growth of the business. The <br />total project cost is estimated to be <br />$191,000. It is estimated that this project <br />will create four new jobs within the first <br />year, representing a new annual payroll of <br />$121,000 and will maintain between <br />seventeen and forty existing jobs with an <br />annual payroll of $502,000. <br />Advanced Masonry has not been granted <br />any 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. It is also <br />located in the Sample -Ewing Development <br />Area, a Tax Incremental Financing <br />Allocation Area. A review of the Tax <br />Abatement Ordinance indicates that the <br />project does not qualify for real property <br />tax abatement; however, Advanced <br />Masonry is going to request consideration <br />for a three year abatement as a special <br />exception. <br />Mr. Beitzinger noted that the petitioner <br />intends to use the building primarily for <br />warehousing purposes and would qualify <br />for tax abatement with this location in the <br />Urban Enterprise Zone and the Sample - <br />Ewing Development Area. However, the <br />company's SIC code does not fall within <br />one of the allowable uses. However, the <br />Commission has previously recommended <br />-4- <br />