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South Bend Redevelopment Commission <br />Regular Meeting - October 15, 1999 <br />6. NEW BUSINESS (CONT.) <br />a. continued... <br />Esprit Decor releasing its "right to <br />first refusal" to a portion of the retail <br />space retail space. <br />b. Commission approval requested <br />for Resolution No. 1713 approving <br />an application for personal <br />property tax deduction for <br />property at 3820 William <br />Richardson Court. (FDC Graphic <br />Films, Inc.) <br />Ms. Cassandra Phillips, Economic <br />Development Specialist, presented <br />the following staff report to the <br />Commission for its consideration. <br />FDC Graphic Films, Inc. is a <br />manufacturer of pressure sensitive <br />film for the Graphics /Sign Industry. <br />Their process involves the <br />conversion of pressure sensitive log <br />rolls, which range in size from 48" to <br />60" by 250 yards, through a series of <br />converting machines which slit the <br />material to widths which vary from <br />1/32" to 48 ". The material is then <br />processed through a secondary <br />application which laminates and/or <br />perforates the material. The project <br />calls for the purchase and installation <br />of new slitting, perforating and <br />conveying equipment at an estimated <br />cost of $150,000. <br />COMMISSION APPROVED THE LEASE OF THE 1,423 SF OF <br />RETAIL SPACE IN THE LEIGHTON PLAZA TO LAURA <br />LEE'S, SUBJECT TO RECEIVING A LETTER FROM ESPRIT <br />DECOR RELEASING ITS RIGHT TO FIRST REFUSAL TO A <br />PORTION OF THE RETAIL SPACE <br />-5- <br />