No. 1110 approving an application for real property tax deduction (P.A.I. Properties, 3601 Lathrop St.)

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The project will create ten (10) new permanent full -time jobs in the first year representing an annual payroll of $187,000. The project will also maintain sixty (60) existing permanent full -time jobs with an annual payroll of $1,900,000. OTHER ITEMS 1. The petitioner has not been granted, nor applied for any previous tax abatement consideration. 2. The property is properly zoned for the proposed use. A copy of the report from the Building Commissioner is attached. 3. The property is not located in an area presently designated as a Tax Abatement Impact Area by the South Bend Common Council. 4. The property is located in the Airport Economic Development Area. 5. The property is located in a Tax Incremental Financing Allocation Area. The Redevelopment Commission considered this abatement petition at a special meeting on Monday, October 26, 1992. A copy of their resolution is attached. 6. The petitioner qualifies for 6 years of real property tax abatement under Section 2 -82 (Industrial Development City Wide) of the Tax Abatement Ordinance (No. 8065 -90).