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CITY OF SOUTH BEND I COMMUNITY INVESTMENT <br /> i <br /> ➢ Estimated taxes being abated during five year abatement period—$17,237 <br /> ➢ Total taxes to be paid on new and existing equipment over the next five years — <br /> $4,176 <br /> EMPLOYMENT LMIPACT <br /> Per the petition,it is estimated that the total project will: <br /> ➢ Create (33), full-time jobs within 3 years, representing a new annual payroll of <br /> $1,373,840. <br /> ➢ Maintain(7) existing permanent full-time jobs with a payroll of$500,864. <br /> ➢ The hourly wages for employees will range from$18 to $33.50 <br /> ABATEMENT QUALIFICATION <br /> 1. A review of the tax abatements previously granted, finds that the petitioner has not <br /> been granted or associated with any previous abatements. <br /> 2. The Building Commissioner has reviewed the petition and finds the property to be properly <br /> zoned for the proposed project. <br /> 3. A review of the South Bend Redevelopment designation areas finds that the property is <br /> located in the River West Development Area. f <br /> i <br /> finds that the petitioner meets the <br /> 4. A review of the Tax Abatement Ordinance No. 9394-03 p <br /> qualifications for a (5) five-year personal property tax abatement under section 2-84.2, <br /> Tangible Personal Property Tax Abatement. <br /> 1 <br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION j INCLUSION I EMPOWERMENT j <br /> 14005 County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov <br />