Laserfiche WebLink
SeC 2-"rg PRIMARY IMPACT MEASURES FOR BASE PHASE-I~ I.OR Real Property <br />a. Investment: Buildin sand Site <br />Im rovements ~1) <br />$250,000 to $2,000,040 3 years <br />$2,000,001 to $3,000,000 4 years <br />$3,000,001 to $4,000,000 5 years <br />$4,000,001 to $8,000,000 6 years <br />$8,000,001 to $15,000,000 7 ears <br />$1S,OOfl,001 to $25,000,000 8 years <br />$25,000,001 to $SO,OOO,fl00 9 ears <br />over $50,000,00 10 years <br />c. Existin Jobs <br />South Bend provides consideration for existing <br />employers based upon their existing employment <br />(as apposed to requiring documentation on <br />retained 'ohs <br />Current employees paid in excess of St. <br />Jose h County Average Wage~2~ <br />10 to 50 1 year <br />Over 50 2 years <br />b. Net New Jobs <br />5 to 10 1 year <br />l 0 to 29 2 years <br />30 to 49 3 years <br />50 to 99 4 years <br />100 to 149 5 years <br />150 to 199 6 years <br />over 200 7 years <br />d. Wa es <br />85% of total local payroll must meet this standard <br />to qualify <br />1 i 0 to 149% of average county wage~z~ 2 years <br />154 to 174% of average county wage(z) 3 years <br />175 to 199% of average county wage~~~ 5 ears <br />over 200% of average county wage~2~ 7 ears <br /> <br />Real Property Base Tax Phase-In: <br />a + b +c + d = years{~} <br />Investment Net New Jobs Existing Jobs Wages Tata] <br />{'~ Def ned as expenses directly related to the proposed new construction or rehabilitation <br />excluding costs of land, financing, architect, engineering, and attorney fees. <br />(2) Current Average County Wage is $18.07/hr (Marchl, 2010) Does not include benefits. <br />~~} Maximum available under State Iaw = 10 years <br />10 <br />