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Filed in Clerk's Office <br />TAX ABATEMENT REPOR <br />SEP <br />0'8 2016 <br />TO: SOUTH BEND COMMON COUNCIL <br />KAREEMAH FOWLER <br />FROM: AARON KOBB CITY CLERK, SOUTH EENQ flu <br />SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />Industrial Met -Fab, Inc. <br />DATE: September 8, 2016 <br />On Wednesday, September 7, 2016, apetition from Industrial Met -Fab, Inc. was received <br />and subsequently filed with the City Clerk for real property tax abatement consideration <br />for property located at 2806 W. Sample Street, South Bend, IN 46619. Pursuant to Chapter <br />2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition <br />was referred to the Department of Community Investment for purposes of investigation <br />and preparation of a report determining whether the area qualifies as an Economic <br />Revitalization Area pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have <br />been met. <br />'The Department of Community Investment has reviewed the petition (a copy of which is <br />attached), investigated the area, and makes the following report. <br />PROJECT SUMMARY <br />➢ Approximately $400,000 expansion of current facility along with the purchase of <br />approximately $120,000 of new equipment. <br />➢ Total taxes on new building and improvements during six year abatement period — <br />$60,811 <br />➢ Estimated taxes being abated on new building improvements during six year <br />abatement period — $15,448 <br />➢ Total taxes to be paid on new building and improvements during six year abatement <br />period — $45,363 <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will: <br />➢ Create 10 permanent, full -time jobs within the six year abatement period, <br />representing a new estimated annual payroll of $332,800 <br />PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC REsouRCEs <br />TIM CORCORAN PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB <br />