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South Bend Redevelopment Commission RE: Tax Abatement Federal- Mogul Powertrain, Inc. May 1, 2012 Page 2 $21,802,000. Total taxes to be abated during the (5) five -year abatement period are estimated at $215,239. Total new taxes to be paid over five years are $1,898,562. Combined existing and new taxes will be $6,310,349 over five years. EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will create twenty (20) new, permanent, full -time jobs within the first year, representing a new annual payroll of $932,000. The project will maintain 409 existing, permanent full -time jobs representing an annual payroll of $20,503,000. ABATEMENT QUALIFICATION A review of the tax abatements previously granted, finds that the petitioner has been granted or associated with 15 (fifteen) previous tax abatements: Term/Type Resolution No. Date 5 -year personal property 3641 -06 07/28/2006 5 -year personal property 3397 -04 10/28/2004 5 -year personal property 3232 -03 08/25/2003 5 -year personal property 3086 -02 04/22/2002 3 -year real property 3085 -02 04/22/2002 10 -year real property 2929 -00 09/25//2000 5 -year personal property 2930 -00 09/25/2000 6 -year real property 2686 -98 10/26/1998 5 -year personal property 2685 -98 10/26/1998 5 -year personal property 2174 -94 09/26/1994 5 -year personal property 2057 -93 07/26/1993 10 -year personal property 2056 -93 07/26/1993 5 -year personal property 1864 -91 04/22/1991 5 -year personal property #R07 -86 05/13/1986 10 -year real property #R07 -86 05/13/1986 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