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No. 1450 approving an application for personal property tax deduction (Total Enterprises, LTD, 3333 W. Lathrop St.)
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No. 1450 approving an application for personal property tax deduction (Total Enterprises, LTD, 3333 W. Lathrop St.)
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Redevelopment Commission <br />Tax Abatement -Total Enterprises <br />August 5, 1996 <br />Page 2 <br />Per the petition, it is estimated that this project will create six (6) new permanent <br />full -time jobs within the first year, representing an annual payroll of $167,450 and will <br />maintain forty seven (47) full -time and part -time jobs, representing an annual payroll of <br />$1,400,000. <br />REPORT SUMMARY <br />1. A review of the tax abatements previously granted finds that the petitioner has not <br />been granted any previous tax abatement consideration. <br />2. The building commissioner has reviewed the petition and finds the property to be <br />properly zoned for the proposed use. <br />3. A review of the tax abatement designation areas finds that the property is not <br />located in an area presently designated as a Tax Abatement Impact Area nor is it <br />located in the Economic Development Target Area. <br />4. A review of the Redevelopment designation areas finds that the property is located <br />in the Airport Economic Development Area, which is a Tax Incremental Allocation <br />Area, therefore, the petition first requires the approval of the South Bend <br />Redevelopment Commission. <br />5. A review of the Tax Abatement Ordinance (No. 8065 -90) finds that the petitioner <br />meets the qualifications for a five (5) year personal property tax abatement under <br />Section 2 -84.2 (Tangible Personal Property Tax Abatement). <br />
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