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South Bend Redevelopment Commission <br />Regular Meeting —July 20, 2001 <br />6. NEW BUSINESS (CONT.) <br />c. (Continued...) <br />Per the petition, it is estimated that this project <br />will create eighteen new permanent jobs within <br />the first year, representing a new annual payroll <br />of $1,067,600 (an average salary of $59,311 per <br />position). This project will also maintain 381 <br />existing permanent full time jobs and 52 part <br />time jobs representing an annual payroll of <br />$28,200,000 (an average salary of $69,287 per <br />position). In addition to the above new job <br />creation figures, the petitioner is projecting to <br />create a total of 150 new jobs over the next six <br />years. <br />A review of the tax abatements previously <br />granted found that the petitioner was granted <br />one previous ten year real property tax <br />abatement in 1984. The petitioner was in <br />compliance with all of the reporting <br />requirements during that abatement, which has <br />expired. <br />The property is located in the South Bend <br />Central Development Area, which is a Tax <br />Incremental Allocation Area; therefore, the <br />petition for real property tax abatement must <br />first be approved by the South Bend <br />Redevelopment Commission. The petitioner <br />does not fully meet the requirements for the <br />requested ten year abatement under the Tax <br />Abatement Ordinance. Although the <br />petitioner's property is located in a Tax <br />Abatement Impact Area, that only qualifies the <br />company for a three year abatement. <br />First, the petitioner is a long time South Bend - <br />based company started in 1942 by Clete Chizek <br />M <br />