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South Bend Redevelopment Commission <br />Regular Meeting - November 5, 1999 <br />6. NEW BUSINESS (CONT.) <br />d. continued... <br />Mrs. Kolata stated that the staff was <br />impressed by the concept presented by <br />South Bend Heritage Foundation and would <br />work with South Bend Heritage Foundation <br />to see if an acceptable agreement could be <br />worked out. <br />e. Commission approval requested for <br />Resolution No. 1714 approving an <br />application for personal property tax <br />deduction for property at 4101 William <br />Richardson Drive in the Airport <br />Economic Development Area. (New <br />Carbon Company, Inc.) <br />Cassandra Phillips presented the following <br />staff report to the Commission for its <br />consideration. <br />New Carbon Company, Inc, is the <br />manufacturer of Golden Malted Pancake and <br />Waffle Flour products and commercial <br />Waffle Bakers. The company is transferring <br />approximately $60,000 of equipment from <br />their Buchanan location to the new location. <br />This includes drill presses, sand blasters, <br />ovens, materials handling equipment, office <br />furniture and fixtures, and all other related <br />equipment. In addition, the company is <br />projecting to purchase between $200,000 <br />and $300,000 of new equipment. <br />Per the petition, it is estimated that this <br />project will create five to eight new, <br />permanent jobs, representing a new annual <br />payroll between $200,000 and $300,000 per <br />-12- <br />