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South Bend Redevelopment Commission <br />Regular Meeting - December 3, 1999 <br />6. NEW BUSINESS (CONT.) <br />d. Commission approval requested for <br />Resolution No. 1722 approving an <br />application for personal property tax <br />deduction for property at 814 South <br />Main Street. (Rink Riverside Printing, <br />Inc.) <br />Rink Riverside Printing, Inc. is a <br />commercial printer serving advertising <br />agencies and the local manufacturing <br />sector with printed literature needs. The <br />project calls for the acquisition of a new <br />six color 40" Komori Lithrone offset <br />printing press, a two color 28" Komori <br />Sprint offset printing press and a new Fuji <br />Sumo 8 -up recording device and scanner. <br />The estimated cost of the equipment is <br />$2,200,000. <br />Per the petition, it is estimated that this <br />project will create six new, permanent jobs <br />within the first year, representing a new <br />annual payroll of $180,000 and will <br />maintain 35 existing permanent, full -time <br />jobs and no part-time jobs representing an <br />annual payroll of $1,100,000. <br />A review of the tax abatements previously <br />granted, finds that Rink Riverside Printing, <br />Inc. has not been granted any previous tax <br />abatements. The building commissioner <br />has reviewed the petition and finds the <br />property to be properly zoned for the <br />proposed project. A review of the <br />designated South Bend Redevelopment <br />Area finds that the property is located in <br />the Sample -Ewing Development Area, <br />which is a Tax Incremental Allocation <br />C; -10- <br />