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South Bend Redevelopment Commission <br />Regular Meeting - June 16, 1995 <br />6. NEW BUSINFSS (Cont.) <br />e. continued... <br />Ward Series 13,000 Two Color Die <br />Cutter, a Martin Die Cut Stacker and a <br />Ohio Blow Pipe Scrap System. The new <br />equipment will make Container Service a <br />full service manufacturer of corrugated <br />containers and is an integral part in the <br />continued growth of the company. The <br />total dollar amount of the equipment is <br />estimated at $740,000. <br />Per the petition, it is estimated that this <br />project will create nine (9) new full-time <br />jobs, representing an annual payroll of <br />$180,000 and will maintain thirty -five <br />(35) existing jobs with an annual payroll <br />of $1,009,000. <br />Container Service Corp. was granted a <br />ten year real property tax abatement and <br />a five year personal property tax <br />abatement on November 18, 1985. The <br />personal property tax abatement has <br />since expired and the petitioner remains <br />in compliance with the reporting <br />requirements for the real property <br />abatement. <br />The building commissioner has reviewed <br />this project and finds the property to be <br />properly zoned for the proposed use. <br />The property is not located in an area <br />presently designated as a Tax Abatement <br />Impact Area by the South Bend Common <br />Council. <br />-7- <br />