Laserfiche WebLink
Filed in Clerk's Office <br /> OCT 17 2018 <br /> KAREEMAH FOWLER <br /> CITY CLERK,SOUTH BEND,IN <br /> TAX ABATEMENT REPORT <br /> TO: South Bend Common Council <br /> FROM: Angelina Billo,Business Development Manager <br /> SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br /> Nilkanth, LLC <br /> DATE: October 17, 2018 <br /> On Friday October 12th, 2018, a petition from Nilkanth, LLC was received and subsequently filed with <br /> the City Clerk for real property tax abatement consideration for property to be located at 4836 Western <br /> Ave, South Bend,IN. Pursuant to Chapter 2,Article 6, Section 2-84.2 of the Municipal Code of the City <br /> of South Bend, this petition was referred to the Department of Community Investment for purposes of <br /> investigation and preparation of a report determining whether the area qualifies as an Economic <br /> Revitalization Area 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 attached), <br /> investigated the area,and makes the following report. <br /> PROJECT SUMMARY <br /> > New construction of approximately 3,000 sq. ft. Dairy Queen Grill&Chill <br /> > The new restaurant will provide service to residents of Western Ave and surrounded area <br /> > Estimated taxes being paid during the seven-year abatement period—$61,270 <br /> ➢ Estimated taxes being abated during the seven-year abatement period—$90,881 <br /> EMPLOYMENT IMPACT <br /> Per the petition,this project will create at least 20 permanent full-time jobs and 25 part-time jobs with a <br /> total estimated annual payroll of$741,000.The average hourly wage for new full-time jobs is$11.50. <br /> The company is planning to invest approximately$17,500 in employees' training. <br />