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01-12-09 Common Council Meeting Agenda & Packet
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01-12-09 Common Council Meeting Agenda & Packet
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1/8/2009 2:42:11 PM
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City Council - City Clerk
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\~ -' i <br />Benjamin ~~' Decorating r~-- <br />Moore C_~_ ~ ~~--, Center <br />Paints <br />1728 North Ironwood Dr. South Bend, IN 46635 Phone 574-272-6888 Fax 574-272-9503 <br />Dear Mr. Mathia, <br />I am writing in regards to our request to the Common Council regarding tax abatement. We first <br />became aware of our Pack of proper insurance coverage after our fire. Our local agent failed to provide <br />us with accurate market pricing and replacement cost to rebuild our building as it stood previously. As <br />the result of that, we found ourselves $120,000 underinsured in just the rebuilding of the structure <br />alone. We were also underinsured $50,000 on our contents, $35,000 in IDEM testing and cleanup. <br />Also, as a result of the destruction, a portion of our computer records were lost and $10,000 from our <br />accounts receivable were a loss, as well as, revenue losses due to the disruption exceeded $100,000. <br />We are asking for this special exception not only because of our tragedy but for the fact that we <br />have been part of The City of South Bend since 1872. In the history of South Bend, we were quite <br />prominent. Our future building and the goals we have to increase sales, customer service, and <br />innovative decorating needs will not only benefit C.E. Lee Company but The City of South Bend and its <br />citizens as well. We look forward to future locations in The City of South Bend and branding ourselves in <br />this community as "the place" for your decorating needs. <br />We have discussed moving to another location outside of The City of South Bend, however, we <br />would prefer to rebuild at our former location, 1728 North Ironwood. Because of the additional cost to <br />rebuild and the current state of the economy, tax abatement would prove to be crucial while we are <br />rebuilding and implementing our strategy to grow within this community. As well as, rebuild our <br />customer base and increase revenue flow. <br />We currently employ 5 full time employees and 3 part time employees. We have employed <br />minorities in the past, as well as currently. We brought on an additional 2 full time employees after the <br />fire to assist in clean up and preparation to raze the damaged building. We will be adding a second <br />floor for more space and additional storage for stock which will increase sales and a need for additional <br />positions. We plan to add 2-3 other positions once we are in our new location. <br />
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