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South Bend Common Council <br />RE: Tax Abatement for McCormick & Company <br />May 5, 2006 <br />Page 2 <br />requiring a small expansion (2,300 sq ft) on the front of the facility. External to the facility, a larger <br />transformer will be installed, and additional parking for employees will be added. <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will create thirty-eight (38 new, permanent, <br />full-time jobs representing a new annual payroll of $989,498. The project will also maintain ninety (90) <br />existing permanent full-time jobs and two (2) existing part-time positions representing an annual payroll <br />of $4,555,600. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted, finds that the petitioner has not been granted or <br />associated with any previous tax abatement. <br />2. The building commissioner has reviewed the petition and finds the property to be properly zoned <br />for the proposed project. <br />3. A review of the South Bend Redevelopment designation areas finds that the property is located in <br />the Airport Economic Development Area, which is a Tax Incremental Allocation Area, therefore, <br />the petition, for personal property must first be approved by the South Bend Redevelopment <br />Commission. <br />4. A review of the Tax Abatement Ordinance no. 8065-90 finds that the petitioner meets the <br />qualifications for a five (5) year personal property tax abatement under section 2-84.2 (Tangible <br />Personal Property Tax Abatement). <br />~r~j~~' <br />~l ~j~~a ~ <br />F~~ <br />1'~, ~~~ ~ 2 2000 <br />