My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
02-08-10 Council Agenda & Packet
sbend
>
Public
>
Common Council
>
Common Council Agenda Packets
>
2010
>
02-08-10 Council Agenda & Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/1/2015 12:55:02 PM
Creation date
2/4/2010 11:10:37 AM
Metadata
Fields
Template:
City Council - City Clerk
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
74
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
RE: Tax Abatement for Patterson Logistics Services, Inc. <br />January 27, 2010 <br />Page 2 <br />purchase of the existing building, <br />Total taxes to be abated during a five -year abatement period are estimated at $688,938. This <br />includes $246,999 for the proposed improvements and $441,939 for the tax abatement on the <br />existing building, Total additional taxes to be aLid as a result of the project during the five -year <br />abatement period are estimated at $939,491. This includes $191,137 for the improvements and <br />$748,354 for the existing building, <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the project will create Fifty (50) new, permanent full -time <br />positions with an annual payroll $1,040,000. The project will also maintain sixty (60) existing <br />permanent full -time positions, including 20 existing permanent full -time minority employees, with a <br />total annual payroll of $1,620,000. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted ends that the Petitioner, Patterson Logistics <br />Services, Inc., has not been granted or associated with any previous tax abatements. However, at <br />this time they are also petitioning for a personal property tax abatement. <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 located <br />in the Airport Economic Area, which is a Tax Incremental Allocation Area; therefore, the <br />petition for real property tax deduction must first be approved by the South Bend Redevelopment <br />Commission. <br />4. A review of the Tax Abatement Ordinance No, 9394 -03 finds that the petitioner meets the <br />qualifications for a five -year real property tax abatement under Section 2 -79, Warehouse <br />Development in the City -wide District. <br />
The URL can be used to link to this page
Your browser does not support the video tag.