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South Bend Redevelopment Commission <br />Regular Meeting - July 16, 1999 <br />6. NEW BUSINESS (CONT.) <br />m. Commission approval requested <br />for Resolution No. 1704 <br />approving an application for <br />personal property tax deduction <br />for property at 3601 West <br />McGill in the Airport Economic <br />Development Area. (JRS <br />Enterprise, LLC) <br />AAA Tool and Die Company is a <br />privately held, locally owned tool <br />and die company. It was <br />incorporated in 1961 and has been <br />continuously located and operating <br />in the South Bend area since that <br />time. The company presently <br />employs 26 people. JRS <br />Enterprises, LLC intends to <br />purchase a Mitsubishi FX -20K <br />Wire EDM Machine, which will be <br />leased to AAA Tool and Die <br />Company, Inc. The estimated <br />project cost is $191,000. <br />Per the petition, it is estimated that <br />this project will create two new, <br />permanent, full -time jobs within <br />the first year, representing a new <br />annual payroll of $65,000 and will <br />maintain 26 existing, permanent, <br />full -time jobs and no part-time jobs <br />representing an annual payroll of <br />$1,360,000. <br />A review of the tax abatements <br />previously granted, finds that JRS <br />Enterprise, LLC has not been <br />granted previous tax abatement. <br />H: \WPDATA \COMMSN \071699 Minutes.wpd -17- <br />