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South Bend Redevelopment Commission <br />Regular Meeting —July 20, 2001 <br />6. NEW BUSINESS (CONT.) <br />c. (Continued...) <br />and Fred Crowe, Sr. Today, South Bend is the <br />international headquarters for this Top 10 U.S. <br />Accounting and Consulting Firm which <br />employs over 1,600 people in 13 offices <br />worldwide. <br />Second, the South Bend office is the firm's <br />training center. Crowe Chizek offers dozens of <br />training seminars annually and had over 11,000 <br />people attend various training events last year. <br />Many of these individuals stay at local motels <br />and hotels and help fuel our local economy. <br />This project will enable the company to vastly <br />expand its training capabilities, bringing even <br />more people to our community. <br />Last, is the tremendous cost of this project. The <br />building construction is estimated at over $7.8 <br />million and the total project is estimated at over <br />$10.8 million. <br />Based upon the above, the petitioner is <br />respectfully requesting consideration for a <br />special exception ten year real property tax <br />abatement. <br />Based on a projected project cost of $7,776,190 <br />the total estimated taxes on the project for three <br />years, without abatement, would be <br />approximately $1,244,473 . With abatement the <br />taxes would be approximately $414,824. <br />Therefore, the cost of the three year abatement <br />would be approximately $829,649. <br />Based on a projected project cost of $7,776,190 <br />the total estimated taxes on the project for six <br />5 <br />