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South Bend Redevelopment Commission <br />scheduled Regular Meeting - January 4, 1995 <br />6. NEW BUSINESS (Cont.) <br />h. continued... <br />accepting the transfer of real property from <br />St. Joseph County, Indiana. <br />i. Commission approval requested for <br />Resolution No. 1315 approving an <br />application for real property tax <br />deduction for property known as Lot 16 <br />and Lot 17 in the Toll Road Industrial <br />Park portion of the Airport Economic <br />Development Area. (Busk Brothers <br />Furniture) <br />Mr. Beitzinger read the staff report on the <br />E <br />project. Stephen E. and Susan Busk are <br />owners of Busk Brothers Furniture. Their <br />Aft <br />project calls for the construction of a 59,000 <br />ILsquare foot warehouse on lots 16 and 17 in <br />the Toll Road Industrial Park. The new <br />building will serve as the primary <br />warehousing location for Busk Brothers <br />Furniture outlets. The building will also <br />house the company's corporate offices and <br />the service department. The new building is <br />necessary to adequately house the inventory <br />needed to supply the retail outlets and <br />combine offices which are currently at two <br />different locations. The total cost of the <br />project is estimated at $1,115,000. <br />The project will create four permanent new <br />jobs within the first year, representing an <br />annual payroll of around $90,000 (including <br />fringe benefits) and will maintain forty <br />existing permanent full-time and two <br />permanent part-time jobs, representing an <br />annual payroll of $683,000. <br />r <br />-32- <br />