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South Bend Redevelopment Commission <br />Regular Meeting - September 17, 1999 <br />6. NEW BUSINESS (CONT.) <br />d. continued... <br />Per the petition, it is estimated that this <br />project will result in the creation of <br />between four and seven new, permanent, <br />full -time positions representing an annual <br />payroll increase of between $83,000 and <br />$175,000 and will maintain 45 existing, <br />permanent, full -time and part-time jobs <br />representing an annual payroll of <br />$1,268,000. <br />A review of the tax abatements previously <br />granted, finds that Lock Joint Tube, <br />Inc./KeyCorp Capital Leasing/Steel <br />Warehouse Co. Inc./LJT No. 1, LLC has <br />been granted several previous tax <br />abatements. <br />Lock Joint Tube, Inc./KeyCorp Capital <br />Leasing /Steel Warehouse Co. Inc./LJT No. <br />1, LLC is in compliance with the reporting <br />requirements for each of the previous <br />abatements. <br />The building commissioner has reviewed <br />the petitions and has found the property to <br />be properly zoned for the proposed use. <br />A review of the designated South Bend <br />Redevelopment Area finds that the <br />property is located in the Sample -Ewing <br />Development Area, which is a Tax <br />Incremental Allocation Area; therefore, the <br />petitions for real and personal property tax <br />abatement must first be approved by the <br />South Bend Redevelopment Commission. <br />In <br />