Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting -November 7, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatement <br />(1) continued... <br />Mr. Mathia noted that Gateway Plaza, at the <br />northwest corner of Lathrop and Bendix, <br />proposes to construct a combination <br />warehouse/flex building of approximately <br />31,819 square feet. The building will consist <br />of seven units of approximately 4,320 square <br />feet each. The building will be Phase IV of <br />the adjacent Gateway Plaza and will be of <br />similar construction. Tenants in the building <br />are likely to be primarily warehouse users, <br />but with some need for front-office space or <br />showroom areas. All suites will have grade- <br />level overhead door access, with at least four <br />slated for dock access as well. The building <br />site covers approximately 1.94 acres. The <br />estimated cost of Phase IV construction is <br />$1,480,180. <br />The project itself is not expected to create <br />additional employment within the first year, <br />but will enable a tenant, Memorial Health <br />Systems, to move and have room to grow. <br />Memorial will maintain fourteen existing <br />permanent full-time jobs with an annual <br />payroll of $858,924, including one existing <br />permanent full-time minority employee with <br />an annual payroll of $170,000. <br />The total possible gains in employment <br />resulting from construction of the building <br />will depend on the kind of businesses that <br />locate in it and cannot be estimated at this <br />time; therefore, the petitioner has not <br />presented any. As a result, no points were <br />awarded for job creation in the Public Benefit <br />Points Summary. <br />4 <br />