Amending Chapter 2 Economic Development Target Area to Article 13

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• u KRAMER & MURPHY PROFESSIONAL CORPORATION ATTORNEYS AT LAW SUITE 200 F. RICHARD KRAMER 205 W.JEFFERSON BLVD. MICHAEL C. MURPHY SOUTH BEND, INDIANA 44 (i;O1 219-233-8275 DEAN A.COLVIN March 7 , 1986 Common Council of City of South Bend Fourth Floor County-City Building South Bend, Indiana 46601 Re: Cole Associates Inc. Target Area Application Members of the Common Council: This letter is being submitted to you to provide you with some background and explanation for the application of Cole Associates Inc. to have the real estate located at 2211 East Jefferson Blvd. designated as an Economic Development Target Area. This matter will come before the Council on March 10 , 1986. Cole Associates Inc. is an architectural and engineering firm with offices in Indianapolis , Merrillville , and Chester- ton, and its corporate headquarters at 2211 East Jefferson Blvd. , South Bend, Indiana. It employs 203 full time employees and has an annual payroll of approximately $5 , 200 ,000 . 00 . In 1977 , with the proceeds of a 1977 City of South Bend Economic Development Bond Issue , it purchased the Dugdale Estate for the purpose of constructing its corporate head- quarters . At that time , Cole Associates Inc. made the commit- ment to the City of South Bend to construct a first rate building and also to maintain a certain level of employment in the City. Cole Associates Inc. met these commitments and is currently employing 104 full time employees in the City of South Bend with an annual payroll of approximately $2 ,600 ,000. 00 . At the time Cole Associates Inc. purchased the Dugdale Estate , the real estate was in a substantial state of disrepair and disuse . In constructing its corporate headquarters , Cole Associates Inc. improved the property and created a situation on the property that is of real benefit to the neighborhood. From the commencement of construction, Cole Associates Inc. anticipated that if it were successful it would further expand its business and facilities . As a result of the distinguished performance of Cole Associates Inc. it now has an opportunity for such an expansion.