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South Bend Redevelopment Commission <br />Regular Meeting - September 20, 1996 <br />6. NEW BUSINESS (Cont.) <br />a. continued.... <br />participation to $25,000. This is in line <br />with other recent proposals approved by <br />the Commission for other properties that <br />had substantial property or site <br />preparation costs. <br />The staff recommends that the <br />Commission accepts the proposal subject <br />to the following: Funds for clearing the <br />trees from the property would be placed <br />in escrow with a third party at closing; <br />Elumatec would be able to draw from the <br />escrow after completion of the clearing <br />work upon approval of Redevelopment <br />staff, Plans and specifications for the <br />building, once approved through the <br />City's design review process, would be <br />made a part of the Contract for Sale of <br />Land. <br />Steve Van Tongeron with Elumatec USA <br />handed out a brochure outlining the <br />company's history and a video tape that <br />shows their vinyl production line. He <br />stated that Elumatec USA is currently <br />leasing space in Columbus, Indiana and <br />would like to move into the South Bend <br />area. They feel that South Bend is a <br />prominent location for marketing and <br />distribution purposes and they feel as <br />though the support systems are here in <br />the South Bend area. <br />Mrs. Kolata noted this is a heavily - <br />wooded site and that other people who <br />have looked at this site in the past have <br />raised the issue of clearing the trees. <br />