Confirming Tax Abatement - 1401 South Main Street - Blk, LLC d/b/a Old Fort Building Supplyed

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South Bend Redevelopment Commission RE: Tax Abatement for BLK, LLC August 18, 2006 Page 2 Urban Enterprise Association. The department recommends that should the company receive the UEZ designation, the Tax Abatement designation shall become null and void. EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will create (2) two new, permanent, full-time jobs representing a new annual payroll of $60,000. The project will also maintain (19) nineteen existing, permanent, full-time jobs and (1) one existing, permanent, part-time job representing an annual payroll of $830,000. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted finds that the petitioner has not been associated with any previous tax abatements: 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. A review of the South Bend Redevelopment designation areas finds that the property is located in the Sample-Ewing Development Area, which is a Tax Incremental Allocation Area; therefore, the petition for real property tax abatement must first be approved by the South Bend Redevelopment Commission. 4. A review of the South Bend Urban Enterprise Zone finds that the property is located in the Urban Enterprise Zone Area; therefore, it is recommended that should the company receive the UEZ designation, the Tax Abatement designation shall become null and void. The Companymaynot receive an economic revitalization area deduction if it receives an enterprise zone investment deduction under I.C. 6-1.1-45 for the same property. Although it qualifies fora (5) five-year abatement, the Redevelopment Commission staff recommends a (3) three-year abatement based upon the type ofproject, which is improvement of a vacant lot for outdoor storage of masonry products and no building construction. 6. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner does meet the qualifications fora (5) five-year real property tax abatement under Section 2-83.1, Warehouse Development in an Economic Development Target Area (EDTA), Urban Enterprise Zone (UEZ), and Redevelopment Blighted Areas (RBA).