Laserfiche WebLink
TAX ABATEMENT REPORT <br /> TO: South Bend Common Council <br /> FROM: Daniel Buckenmeyer, Director of Business Development <br /> SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br /> REW,LLC <br /> DATE: August 8,2018 <br /> On Wednesday,August 8,2018,a petition from REW,LLC was received and subsequently <br /> filed with the City Clerk for real property tax abatement consideration for property located <br /> at 5870 W. Carbonmill Dr., South Bend, IN 46628. Pursuant to Chapter 2, Article 6, <br /> Section 2-84.2 of the Municipal Code of the City of South Bend,this petition was referred <br /> to the Department of Community Investment for purposes of investigation and preparation <br /> of a report determining whether the area qualifies as an Economic Revitalization Area <br /> pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. <br /> The Department of Community Investment has reviewed the petition(a copy of which is <br /> attached), investigated the area, and makes the following report. <br /> PROJECT SUMMARY <br /> ➢ Estimated$1,956,400 construction of new warehouse and office building <br /> ➢ Company is planning to consolidate its business and move all employees to South <br /> Bend from Mishawaka <br /> ➢ Estimated total taxes on the new building during the four(4)year abatement period <br /> —$143,784 <br /> ➢ Estimated taxes being abated during the four(4)year abatement period—$109,965 <br /> ➢ Estimated taxes to be paid during the four(4)year abatement period—$33,819 <br /> EMPLOYMENT IMPACT <br /> Per the petition,it is estimated that the total project will: <br /> ➢ Relocate 86 existing jobs to South Bend from Mishawaka t <br /> ➢ Create 25 permanent,full-time jobs within three years,representing anew estimate ` <br /> annual payroll of$425,000 <br /> i <br /> S <br />