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South Bend Common Council <br />RE: Tax Abatement for LNW Partners, LLP <br />July 17, 2006 <br />Page 2 <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will create (2) two new, permanent, full-time <br />jobs and (1) new, permanent, part-time job representing a new annual payroll of $88,500. The <br />project will also maintain (13) thirteen existing, permanent, full-time jobs and (1) one existing, <br />permanent, part-time job representing an annual payroll of $563,500. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted finds that the petitioner has not been granted <br />or associated with any previous tax abatements. <br />2. The Building Commissioner has reviewed the petition and finds the property to be properly <br />zoned for the proposed project. <br />3. A review of the South Bend Redevelopment designation areas finds that the property is located <br />in the Airport Economic Development Area, which is a Tax Incremental Allocation Area; <br />therefore, the petition for real property tax abatement must first be approved by the South Bend <br />Redevelopment Commission. <br />4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner does meet the <br />qualifications fora (7) seven-year real property tax abatement under Section 2-82, Industrial <br />Development City-Wide. <br />