Designating Tax Abatement - Clark Equipment Corp. 2301-2303 Bendix Dr. (5 Year Real Property)

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The Holladay • Corporation 404 S. Columbia, Suite 230 219-234-2073 South Bend, Indiana 46601 August 21, 1984 The South Bend Common Council County-City Building South Bend, IN 46601 Re: Application for Tax Abatement for 2301-2303 Bendix Drive Dear Members of the Council: By this letter, we respectfully submit application for 10 year tax abatement on real estate to be purchased by this applicant more commonly known as 2301-2303 Bendix Drive. This property is located in the Airport Industrial Park which has been declared a designated tax abatement impact area. The proposed improvements to be constructed will consist of two structures with a gross square footage of approximately 60, 000 square feet of industrial office and warehousing space. The project is expected to cost an estimated $1, 900, 000 with approximately $1, 700, 000 funded with Economic Development Bonds . The anchor tenant for the project will be Clark Equipment Corporation. As I 'm sure you are aware, Clark has recently announced plans to move a great number of jobs into our City and the proposed development is yet another step in this direction. Tax abate- ment is a benefit which will accrual directly to the tenant and will make continued moves such as this by Clark increasingly more likely due to cost justification. When completed and totally occupied, this project is expected to generate 32 new permanent jobs representing a new annual payroll of approximately $451, 000 . It will, of course in addition, create a number of temporary jobs through the construction of the buildings . Should you desire further documentation or have any questions concerning this application, please feel free to contact the undersigned. Thank you for your careful consideration of this application. Sincerely, Thomas C. Gibson, General Partner South Bend Industrial Assoc i ate ease reply to: KO. box 1331 , South Bend, Indiana 46624