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South Bend Redevelopment Commission <br />Regular Meeting - March 6, 1998 <br />6. NEW BUSINESS (CONT.) <br />L continued.... <br />buildings are the first of up to ten buildings <br />being proposed within the Industrial Park. <br />All the buildings will be built on a <br />speculative basis and the end users have not <br />been determined. The building on Lot #2 <br />will be 23,000 sf, with an estimated cost of <br />$556,000, the building on Lot #3 will be <br />27,800 sf, costing $750,000 and the building <br />on Lot #8 will be 36,700 sf with an <br />estimated cost of $914,000. <br />Per the petition, it is estimated that these <br />three projects will create more than forty <br />(40) new permanent jobs within the first <br />year, representing new annual payrolls in <br />excess of $1,400,000. <br />A review of the tax abatements previously <br />granted finds that Beeler & Brown, LLC and <br />Davey, LLC have not been granted any <br />previous tax abatements. The building <br />commissioner has reviewed the petition and <br />finds the property to be properly zoned for <br />the proposed use. A review of the South <br />Bend Redevelopment areas finds that the <br />property is located in the Airport Economic <br />Development Area, which is a Tax <br />Incremental Allocation Area, therefore, the <br />petition for real property tax abatement must <br />first be approved by the South Bend <br />Redevelopment Commission. <br />A review of the Tax Abatement Ordinance <br />finds that Beeler & Brown, LLC and Davey, <br />LLC do not meet the qualifications for an <br />abatement due to the inability of the <br />In <br />