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South Bend Redevelopment Commission <br />Regular Meeting -June 16, 2000 <br />6. NEW BUSINESS (CON'T) <br />c. continued... <br />Dreams, Inc.) <br />d. Commission approval requested for <br />Resolution No. 1767 approving an application <br />for real property tax deduction for property <br />located at 2722 West Tucker Drive in the <br />Sample -Ewing Development Area. (Steel <br />Warehouse Co., Inc., A &F Realty Co., Nathan <br />Lerman Trust) <br />Ms. Kolata noted that items 6.d. and 6.e. relate to <br />the same expansion and would be explained <br />together. <br />Ms. Moran read the Tax Abatement report for <br />Steel Warehouse Co., Inc., A &F Realty Co., and <br />Nathan Lerman Trust. Steel Warehouse Co., Inc. <br />is a steel service center specializing in flat rolled, <br />low carbon steel, with operations involving <br />slitting, leveling, pickling, temper rolling, and <br />shearing. In connection with the production <br />operations, the company takes substantial <br />positions in steel and steel products for the future <br />marketing and sale of the same to its customers. <br />The project involves the construction of additions <br />of 60,000 to 100,000 sq. ft. for additional <br />manufacturing, warehouse, and related space. <br />The estimated project cost is $1.5 to $2 million. <br />It also involves acquisition of new manufacturing <br />equipment and replacing certain existing <br />equipment with manufacturing and material <br />handling equipment for processing and handling <br />steel and steel products. The estimated cost of <br />machinery and installation is between $2.5 and <br />$3 million. <br />It is estimated that this project will create fifteen <br />11 <br />