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South Bend Redevelopment Commission <br />Regular Meeting - April 17, 1998 <br />6. NEW BUSINESS (Cont.) <br />a. continued... <br />Upon a motion by Mr. Blake, seconded by <br />Mr. Donoho and unanimously carried, the <br />Commission adopted Resolution No. 1596 <br />approving an application for personal <br />property tax deduction for property located <br />in the Airport Economic Development <br />Area. (O -T -D Corporation) <br />b. Commission approval requested for <br />Resolution No. 1597 approving an <br />application for personal property tax <br />deduction for property located in the <br />West Washington - Chapin Development <br />Area. (Uniroyal Technology <br />Corporation) <br />Uniroyal Technology Corporation is a <br />manufacturer of adhesives and sealants. <br />Raw materials are mixed in churns to <br />produce the adhesives and sealants. High <br />volume adhesives are pumped into holding <br />tanks and then packaged in five- gallon <br />pails or one - gallon cans on automatic <br />packaging lines. Sealants are packed in <br />cartridges or as requested by the customer. <br />Their project calls for the purchase and <br />installation of new and used equipment <br />within a two -phase period, valued at over a <br />million dollars. Equipment is being added <br />to present lines to increase capacity and <br />meet current customer demand. Estimated <br />cost of the equipment is $407,000 in the <br />first phase and $659,000 in the second <br />phase with a total estimated cost of <br />$1,066,000. <br />-7- <br />COMMISSION ADOPTED RESOLUTION NO. 1596 <br />APPROVING AN APPLICATION FOR PERSONAL <br />PROPERTY TAX DEDUCTION FOR PROPERTY <br />LOCATED IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA. (O -T -D CORPORATION) <br />