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South Bend Redevelopment Commission <br />Regular Meeting -July 20, 2007 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />continue ... <br />market for beer has been shifting from cans <br />to bottles, so they need to expand their <br />storage capacity. They want to add 15,000 <br />sft to their warehouse space. The estimated <br />value of the project is $2,500,000. Taxes to <br />be abated during the ten-year abatement are <br />estimated at $424,000. The amount of new <br />taxes expected to be paid during that time is <br />$432,000. Sixty-three jobs will be retained. <br />There may be some new jobs, but United <br />Beverage is reluctant to guarantee that. <br />Mr. Nelson : We're reluctant to say we're <br />adding five to seven new jobs because adding <br />additional warehouse space does not create <br />jobs. It allows us to stay in business. We <br />have an agreement with Anhueser Busch, as <br />their primary supplier for athree-county area, <br />of the square footage we're required to have. <br />We're well short of that right now. We've <br />looked at other locations within our <br />marketing area. We've been in South Bend <br />for a long time and we want to stay here. <br />The addition will allow us to continue in <br />business. We will continue in business <br />somewhere. <br />Five years ago I wouldn't have expected to <br />add ten jobs. I don't want to say we're going <br />to add ten more. Our goal is to grow our <br />business and continue to be a good corporate <br />and community neighbor. We ask for your <br />support. <br />Mr. Schalliol: We started with Len and <br />United Beverage almost seven years ago, <br />37 <br />