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South Bend Redevelopment Commission <br />Regular Meeting - March 6, 1998 <br />6. NEW BUSINESS (CONT.) <br />c. continued... <br />d.b.a. Container Service Corporation will <br />purchase a Ward Series 11500 Flexo- Folder <br />Gluer, a Sun Automation Lead Edge Feeder, <br />a C &M Power Conveyor System and a AEI <br />Cad Cam Design System. This equipment <br />will be used in the manufacturing of <br />corrugated containers and will enable <br />Container Service Corporation to double <br />present production capacity. The total <br />estimated cost of the equipment is <br />$1,604,394. The building addition will be <br />56,200 sf with an estimated cost of <br />$1,150,000 to be used for warehouse and <br />manufacturing. <br />Per the petition, it is estimated that this <br />project will create 11 new permanent jobs <br />within the first year, representing a new <br />annual payroll of $330,000 and will <br />maintain 42 existing permanent full time <br />jobs with an annual payroll of $1,245,000. <br />A review of the tax abatements previously <br />granted finds that Harrison Management <br />Company d.b.a. Container Service <br />Corporation has been granted three previous <br />tax abatements. <br />Harrison Management Company d.b.a. <br />Container Service Corporation is in <br />compliance with the reporting requirements <br />for each of the previous abatements. The <br />building commissioner has reviewed the <br />petition and finds the property to be properly <br />zoned for the proposed project. A review of <br />the South Bend Redevelopment areas finds <br />-14- <br />