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South Bend Redevelopment Commission <br />Regular Meeting -April 17, 1998 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />Commission meetings to answer <br />questions. There was no objection to Ms. <br />Schwartz's request. <br />O -T -D Corporation is in the business of <br />manufacturing, selling, leasing and <br />servicing containers for use in the <br />pharmaceuticals, agriculture <br />petrochemical, automotive, printing and <br />other types of industries. This project <br />involves expanding the versatility of <br />processes related to the manufacturing of <br />aluminum containers. The equipment to <br />be installed will consist primarily of <br />machines for fastening various parts of the <br />aluminum containers. The total estimated <br />cost of the new equipment is $200,000. <br />Per the petition, it is estimated that this <br />project will result in the creation of two (2) <br />new permanent full time positions <br />representing an annual payroll of $48,000 <br />and will maintain fifty -four (54) existing <br />permanent full -time and part-time jobs <br />representing an annual payroll of <br />$1,500,000. <br />A review of the tax abatements previously <br />granted finds that O -T -D Corporation and <br />its parent company, Aledo Company, Inc., <br />have been granted previous tax <br />abatements. O -T -D Corporation is in <br />compliance with the reporting <br />requirements for the previous abatements. <br />The building commissioner has reviewed <br />the petition and finds the property to be <br />-5- <br />