Confirming Tax Abatement - 1840 North Commerce Drive - Stanz Food Service, Inc.

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1200 COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PHONE 574/ 235-9371 Fax 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. 1.UECKE, MAYOR COMMUNITY BL ECONOMIC DEVELOPMENT .JEFFREY V. GIBNEY TAX ABA ~~~~1'~REPOR T TO: SOUTH BEND COMMON COUNCIL FROM: SHARON TERRELL ,~ SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: STANZ FOOD SERVICE, INC. DATE: April 10, 2007 On March 30, 2007, a petition for real property tax abatement consideration for property located at 1840 North Commerce Drive was filed with the City Clerk by Stanz Food Service. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition, investigated the area, and makes the following report. PROJECT SUMMARY Stanz Food Service is a full-line, food service distribution business. Stanz uses its warehouse and distribution facility to store dry, refrigerated, and frozen goods to facilitate the transfer and delivery of such goods to customers throughout Northern Indiana and Southern Michigan. Land acquisition costs have been incurred by Stanz to facilitate the use of its site in the Airport Industrial Park area. The proposed project will enable Stanz to increase the size of its warehouse and distribution facility, enhance operating efficiencies through new cold/freezer warehouse technology, and accommodate growth in its full-line grocery warehouse and distribution business. Stanz proposes to make a substantial investment in new real estate construction and rehabilitation at their primary warehouse and distribution facility located on Commerce Drive. The investment includes anew cold/freezer warehouse facility totaling 48,000 square feet to be connected to Stanz's existing facility, at an estimated cost of $6.6 to $8.8M. An additional investment between $600,000 and $800,000 would be used to rehabilitate Stanz's existing office and warehouse facility. COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL LC PROGRAM PAMELA C. MEYER DONALD E. INK$ MANAGEMENT 574/235-9660 5741235-9371 ELIZABETH LEONARD FAX: 574/235-9697 574/235-9371