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South Bend Redevelopment Commission <br />Regular Meeting —June 7, 2002 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />(2) continued... <br />1984, they expect to set up a satellite <br />repair shop where they can continue to <br />serve their many loyal customers. The <br />satellite shop will be coordinated with <br />the larger facility in the US 31 Industrial <br />Park. <br />It is estimated that this project will create <br />three new permanent full time jobs <br />within the first year, representing a new <br />annual payroll of $100,000. It is also <br />estimated that this project will help <br />retain twenty -eight current full time jobs, <br />representing a payroll of $1,290,266. <br />The petitioner has not been granted any <br />previous tax abatements. The property is <br />properly zoned for the proposed project <br />and is located in the Airport Economic <br />Development Area, which is a Tax <br />Incremental Allocation Area. A review <br />of the Tax Abatement Ordinance finds <br />that the petitioner does not meet the <br />qualifications for real property tax <br />abatement. The petitioner is respectfully <br />requesting consideration of a ten year <br />real property abatement for the following <br />reasons: <br />1. The petitioner was asked by the City <br />of South Bend to relocate the <br />business to accommodate the TJX <br />Company's new warehouse <br />distribution center. <br />L <br />