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South Bend Redevelopment Commission <br />Regular Meeting - April 4, 1997 <br />6. NEW BUSINESS (Cont.) <br />Department. <br />b. Commission approval requested for <br />Resolution No. 1500 approving an <br />application for real property tax <br />deduction for property located at 5681 <br />W. Cleveland Road. (M/W <br />Partnership) <br />Mike Beitzinger gave the staff report. <br />NM Partnership is in the business of <br />creating and printing mailing lists and <br />labels; laser printing of letters, certificates <br />and surveys; custom packaging and <br />assembly; and warehousing and <br />distribution of same. Their project calls <br />for the construction of a 50,000 square <br />foot addition to expand the business. The <br />new building will allow the company to <br />continue to grow in both sales and <br />employee base. The efficiencies gained by <br />the building will enable the company to <br />become more competitive in a highly <br />competitive marketplace. The total cost <br />of the new building is estimated at <br />$1,000,000. Per the petition, it is <br />estimated that this project will create <br />between ten and fifteen new, permanent, <br />jobs within the first year, representing a <br />new payroll of over $300,000 and will <br />maintain thirty -nine existing permanent <br />full -time jobs and fifteen existing <br />permanent part-time jobs representing an <br />annual payroll of $950,000. <br />A review of the tax abatements previously <br />granted finds that MV Partnership has <br />been granted two previous tax <br />H:\I IOME\ CPHIPPS \WPDATA \COMMSN\040497.MIN -5- <br />