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South Bend Redevelopment Commission <br />Regular Meeting -April 3, 2009 <br />restroom uses. An asphalt parking area <br />will sui-~•ound all four sides of the <br />building with the area to the north <br />capable of handling heavy truck parking. <br />The entire site will be fenced. <br />Decorative masonry pillars will be <br />located on the south fence line. <br />• The estimated cost of the new <br />construction is just over $2,000,000. <br />• Underground Pipe & Valve, Inc. has <br />been in business since 1977. The <br />company is a distributor of pipes, valves, <br />and lift station equipment. Other product <br />lines include; automatic meter reading <br />systems, line stops, PVC water and sewer <br />pipe, fire hydrants, water meters, <br />manhole frames and covers, back flow <br />preventers, couplings and grinders. The <br />company has dist-ibution centers in Fort <br />Wayne, Kalamazoo and Schererville. It <br />has fifty employees, 27 of whom work at <br />the Prairie Avenue location. <br />Ms. Kolata noted that the purchase price of <br />$1,625,000 was negotiated and includes <br />compensation for the approximately five <br />acres of heavy duty paving, additional <br />fencing with masonry pillars on the south <br />side of the property and landscaping that the <br />City required for the storage yard. In <br />addition, they have agreed to not request tax <br />abatement for the construction of the 36,000 <br />square foot building. A map showing the <br />current and new location of Underground <br />Pipe & Valve is attached to this report. <br />Funds from the U.S. Department of Housing <br />and Urban Development for the <br />Studebaker/Oliver Development Project will <br />be used for property acquisition and <br />relocation. The Section l08 Loan has funds <br />budgeted for this acquisition and relocation. <br />10 <br />