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South Bend Redevelopment Commission <br />Regular Meeting - November 17, 2000 <br />6. NEW BUSINESS (CONT.) <br />j. continued... <br />proposal from Envirocorp, Inc. to complete an <br />application to enter the Oliver Plow Works site <br />into the Indiana Department of Environment <br />Management's Voluntary Remediation Program <br />in the amount of $850. Mr. Laurent noted that <br />the application is a technical application and the <br />staff would like to hire Envirocorp, Inc. to <br />complete it. <br />Upon a motion by Ms. Jones, seconded by <br />Mr. Kahn and unanimously carried, the <br />Commission approved the proposal from <br />Envirocorp, Inc. to complete the application to <br />enter the Oliver Plow Works site in the amount <br />of $850. <br />k. Commission approval requested for <br />Resolution No. 1807 approving an <br />application for personal property tax <br />deduction in the Airport Economic <br />Development Area. (Value Production) <br />Ms. Moran reported that Value Production is a <br />start up company that will purchase new <br />equipment to manufacture parts for aerospace <br />companies. The new equipment includes up to <br />four lathes and four mills. The company is <br />located in a 7,500 sq. ft. bay of a newly <br />purchased building in the industrial park. The <br />estimated project cost is approximately <br />$750,000. Per the petition, it is estimated that <br />this project will create ten (10) new permanent <br />full -time jobs within the first year, representing <br />an annual payroll of $350,000. <br />Ms. Moran also reported that a review of the tax <br />abatements previously granted finds that the <br />91 <br />COMMISSION APPROVED THE PROPOSAL <br />FROM ENVIROCORP, INC. TO COMPLETE THE <br />APPLICATION TO ENTER THE OLIVER PLOW <br />WORKS SITE IN THE AMOUNT OF $850 <br />