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South Bend Redevelopment Commission <br />Regular Meeting - August 21, 1998 <br />6. NEW BUSINESS <br />Mrs. Kolata asked permission to add item ITEM 6.L. WAS ADDED TO THE AGENDA <br />6.1. to the agenda. There was no objection <br />and item 6.1. was added to the agenda. <br />a. Commission approval requested for <br />Resolution No. 1630 approving an <br />application for real property tax <br />deduction for property at 4070 Meghan <br />Beeler Drive in the Airport Economic <br />Development Area. (K & L, LLC <br />(Advanced Imaging Solutions, Inc.) <br />The following staff report was presented to <br />the Commission for its consideration. <br />K & L, LLC (Advanced Imaging <br />Solutions, Inc. (formerly known as A.B. <br />Dick Products of South Bend, Inc.) has <br />been in the South Bend area for more than <br />100 years. Presently the company leases <br />10,500 sf. but is seeking to expand by <br />building 22,857 sf. on three acres of land <br />in the West Cleveland Road Industrial <br />Park. This project is needed to assist the <br />company in meeting the market demand <br />for their products and to be able to <br />effectively compete with the competition. <br />The estimated cost of the new building is <br />approximately $1,100,000. <br />Per the petition, it is estimated that this <br />project will create nine new, permanent <br />jobs within the first year, representing a <br />new annual payroll of $270,000 and will <br />maintain 53 existing permanent full time <br />and three existing permanent part-time <br />jobs with an annual payroll of $1,914,476. <br />HAWPDATATOMMSM082198.MIN -5- <br />