09-27-10 Council Agenda & Packet

Home Browse Search

South Bend Redevelopment Commission RE: Steel Waxehause (Personal Property Abatement} September 7, 2014 Page Z location. Depending on the final value of the equipment to be procured total taxes to be abated during the f ve-year (5) abatement period are estimated to be between $6,445 and $16,113. Total add~itianal taxes to be paid as a result of the project during the five-year (S) abatement period are estimated to be between $67,999 and $169,997. EMPLOYMENT IIVIPACT Per the petition, it is estimated that the project will create four (4) to seven (7) new permanent full time jabs at the 'Tucker location representing new annual payroll of $134,500 to $232,600. The project is also expected to retain a total of four (4} full-time jobs, representing an annual payroll of $133,120 at the facility. ABATEMENT Q1IJALIFICATIUN 1. A review of the tax abatements previously granted finds that the petitioner has been granted or been associated with the previous tax abatements listed below. In addition, at this time the company is also petitioning for a personal property abatement at its 1400 W Riverside Dr. location. TermlType ResaIution NQ. Date 5 year personal property 1 i 69-84 June 25, 1984 5 year personal property 1432-86 Sept. 8, 1986 5 year personal property 1674-88 Nov. 28, 1988 10 year real property 1964-92 July 27, 1992 5 year personal property 1965-92 July 27, 1992 10 year real property .2157-94 July 11, 1994 5 year personal property 2158-94 July 11, 1994 1 O year real property 2371-96 June 24, 1996 5 year personal property 2372-96 June 24, 1996 10 year real property 2496-97 August 25, 1997 5 year personal property 2445-97 August 25, 1997 5 year personal property 2714-99 March 22, 1999 10 year real property 2798-99 Oct. l 1, 1949 S year personal property 2896-00 June 26, 2000 10 year real property 2895-QO June 26, 2000 5 year personal property 3035-01 Sept, 24, 2001