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South Bend Redevelopment Commission <br />Regular Meeting - April 28, 2000 <br />Redevelopment Authority. <br />d. Commission approval requested for <br />Resolution No. 1753 approving an <br />application for real property tax <br />deduction for property at 3445 William <br />Richardson Court in the Airport <br />Economic Development Area. <br />(Thomas E. Lowe) (Playing Mantis, <br />Inc.) <br />Cassandra Moran presented the following <br />staff report to the Commission for its <br />consideration. <br />Thomas E. Lowe proposes to build a <br />40,000 sf warehouse /office building. The <br />building will be constructed on <br />approximately 4.86 acres of land. The <br />total cost for the building will be an <br />estimated $2,000,000. The building will <br />be used as a warehouse and offices for <br />Playing Mantis, Inc. <br />Per the petition, it is estimated that this <br />project will create 10 new, permanent <br />jobs within the first year, representing a <br />new annual payroll of $300,000 and will <br />maintain 49 existing permanent, full -time <br />and two part-time jobs with an annual <br />payroll of $2,100,000. <br />A review of the tax abatements <br />previously granted finds that Thomas E. <br />Lowe has been granted one previous tax <br />abatement. However, the warehouse was <br />never built. <br />-5- <br />