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South Bend Redevelopment Commission <br />Regular Meeting - June 21, 1996 <br />6. NEW BUSINESS (Cont.) <br />b. continued.... <br />collectibles and toy products. The <br />company has established national <br />distribution of licensed products to <br />most major mass merchandisers <br />including Toy -R -Us, Walmart, etc. <br />Their project calls for the <br />construction of a 25,000 square foot <br />warehouse /office building on 4.8 <br />acres of land in the Toll Road <br />Industrial Park. The office area will <br />house the company's national <br />headquarters and the warehouse will <br />be used as a staging and distribution <br />center for products that are not <br />directly shipped to customers. The <br />total projected cost of the building is <br />$900,000. Per the petition, it is <br />estimated that this project will create <br />thirty (30) new permanent full-time <br />jobs within the first year, <br />representing an annual payroll of <br />$1,400,000. A review of the tax <br />abatements previously granted finds <br />that Thomas E. Lowe Ventures has <br />not been granted any previous tax <br />abatements. A review of the petition <br />finds that the property is properly <br />zoned for the proposed use. A <br />review of the tax abatement areas <br />finds that the property is not located <br />in an area presently designated as a <br />Tax Abatement Impact Area, nor is <br />the property located in the Economic <br />Development Target Area. A review <br />of the Redevelopment areas finds that <br />10V <br />