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South Bend Redevelopment Commission <br />Regular Meeting - February 20, 1998 <br />6. NEW BUSINESS (CONT.) <br />c. continued.... <br />Nancy Van Scoyk gave the staff report on <br />this project. <br />The proposed project is a 10,000 sf <br />commercial building to be constructed on <br />a 1.3 acre parcel for Michiana Industrial <br />Supply. With the growth of Michiana <br />Industrial Supply, it has made it necessary <br />to expand their business space as well as <br />their line of products. This will include <br />light manufacturing, distribution, sales and <br />servicing of MRO products. The <br />estimated cost of the proposed project is <br />$500,000. Michiana Industrial Supply has <br />reached its limit and cannot grow any <br />further without this redevelopment. <br />Per the petition, it is estimated that this <br />project will create three (3) new permanent <br />jobs within the first year, representing a <br />new annual payroll of $40,000 and <br />maintain six (6) existing permanent full - <br />time jobs and four (4) existing permanent <br />part-time jobs with an annual payroll of <br />$254,055. <br />A review of the tax abatements previously <br />granted finds that Michiana Industrial <br />Supply has not been granted previous tax <br />abatements. The building commissioner <br />has reviewed the petition and finds the <br />property to be properly zoned for the <br />proposed project. <br />A review of the South Bend <br />Redevelopment areas finds that the <br />-13- <br />