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South Bend Redevelopment Commission <br />Regular Meeting - July 16, 1999 <br />6. NEW BUSINESS (CONT.) <br />k. continued... <br />10,500 sq ft addition to the building. The <br />addition is necessary because of strong <br />growth in demand for package control <br />rooms, manufactured by the Custom <br />Controls Division. The project is expected <br />to be completed by February 2000. Total <br />estimated cost of the construction is <br />$450,000. <br />Per the petition, it is estimated that <br />this project will create ten new, <br />permanent jobs within the first <br />year, representing a new annual <br />payroll of $235,000 and will <br />maintain 256 existing, permanent, <br />full -time jobs with an annual <br />payroll of $10,300,000. Of the 256 <br />maintained jobs, 125 are <br />construction field employees. <br />A review of the tax abatements <br />previously granted finds that <br />Koontz - Wagner has not been <br />granted previous tax abatements. <br />The building commissioner has <br />reviewed the petition and finds the <br />property to be properly zoned for <br />the proposed project. <br />A review of the designated South <br />Bend Redevelopment areas finds <br />that the property is located in the <br />Airport Economic Development <br />Area, which is a Tax Incremental <br />Allocation Area; therefore, the <br />HAWPDATATOMMSM071699 Minutes.wpd -12- <br />