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South Bend Redevelopment Commission <br />Regular Meeting - September 20, 1996 <br />6. NEW BUSINESS <br />a. Staff report on disposition of property <br />in the Airport Economic Development <br />Area. (Toll Road Industrial Park) <br />James Riggs gave the staff report on the <br />project. The Commission has received a <br />proposal to purchase Lot 11 of the Toll <br />Road Industrial Park from Elumatec <br />USA, Inc. Elumatec USA is the United <br />States sales, service and distribution <br />center of Eugen Lutz GmbH & Co. Of <br />Muhlacker, Germany. Eugen Lutz is a <br />manufacturer of machinery for processing <br />aluminum and vinyl extrusions. Elumatec <br />USA is a fully owned subsidiary of Eugen <br />Lutz. Eugen Lutz has 19 offices around <br />Europe, North America, Asia and <br />Australia and annual sales in excess of <br />$53 million (80 million DM). <br />The project would be a 25,000 s.f <br />distribution facility which would include <br />offices, a demonstration room, and <br />warehouse space. Elumatec USA <br />proposes to purchase the property for <br />$85,560 which is $23,000 per acre. (This <br />is the same as the most recent sale price <br />of land in the Toll Road Industrial Park <br />for Commission property.) <br />Elumatec USA expects that the project <br />would create up to six jobs to start and <br />then up to ten jobs within the first year. <br />They plan to begin construction of the <br />25,000 s.f facility by mid - October with <br />completion in March of 1997. Elumatec <br />USA asks that the Commission <br />participate in clearing trees from the <br />property, limiting the Commission <br />