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02-28-11 Council Agenda & Packet
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02-28-11 Council Agenda & Packet
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South Bend Common Council <br /> RE: Tax Abatement for Global Parts Network, LLC <br /> February 17, 2011 <br /> Page 2 <br /> EMPLOYMENT IMPACT <br /> Per the petition,it is estimated that the total project will create twenty-two(22)new,permanent,full-time <br /> jobs in the first year of production representing a new annual payroll of approximately $565,000. The <br /> petitioner has estimated that there will be a total of 30 permanent, full time jobs by the end of fourth year <br /> of the project. Because the project is new there are no existing jobs. <br /> ABATEMENT QUALIFICATION <br /> 1. A review of the tax abatements previously granted finds that the petitioner has not been granted or <br /> been associated with any previous tax abatements. <br /> 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned <br /> for the proposed project. <br /> 3. A review of the South Bend Redevelopment designation areas finds that the property is located in <br /> the Airport Economic Development Area, which is a Tax Incremental Allocation Area; therefore, <br /> the petition for personal property tax deduction 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 meets the <br /> qualifications for a (5) five-year personal property tax abatement under section 2-84.2, Tangible <br /> Personal Property Tax Abatement. <br />
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