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South Bend Redevelopment Commission <br />Regular Meeting - May 19, 2000 <br />6. NEW BUSINESS (CONT.) <br />c. continued... <br />G & B Realty, LLC provides <br />manufactured precision machined parts <br />and components for diesel engines, fuel <br />injector systems, turbo chargers and air <br />compressors for trucks. Presently, the <br />company plans to demolish a small <br />storage building and build a 10,800 sf <br />addition to their existing building. <br />Additional parking space, landscaping, <br />and relocation of the tool room will also <br />be included in the renovation process. <br />The estimated cost of the project is <br />$350,000. <br />Per the petition, it is estimated that the <br />project will create 8 new, permanent jobs <br />within the first year, representing a new <br />annual payroll of $183,040 and will <br />maintain 79 existing, permanent, full - <br />time jobs representing an annual payroll <br />of $1,800,000. <br />A review of the tax abatements <br />previously granted, finds that G & B <br />Realty, LLC has been granted three <br />previous tax abatements. <br />The building commission has reviewed <br />the petition and finds the property to be <br />properly zoned for the proposed project. <br />A review of the designated South Bend <br />Redevelopment Areas finds that the <br />property is located in the Sample -Ewing <br />Development Area, which is a Tax <br />Incremental Allocation Area; therefore, <br />In <br />