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South Bend Common Council <br />RE: Tax Abatement for Niles /Washington LP <br />August 31, 2006 <br />Page 2 <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will create (11) eleven new, permanent, full -time <br />jobs representing anew annual payroll of $800,000. The project will also maintain one hundred four <br />(104) existing, permanent, full -time jobs and one (1) existing, permanent, part-time job representing <br />an annual payroll of $9,800,000. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted, finds that the petitioner has not been granted <br />or associated with any previous tax 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 located <br />in the South Bend Central Development Area which is a Tax Incremental Allocation Area and, <br />also, the East Bank Development Area (as listed in the Tax Abatement Guide); therefore, the <br />petition for real property tax abatement must first be approved by the South Bend <br />Redevelopment Commission. <br />4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner does meet the <br />qualifications for an (8) eight -year real property tax abatement under Section 2 -78.1, Office <br />Developments within the East Bank Development Area and Tax Abatement Impact Areas. <br />