My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Confirming Tax Abatement - R2 Diagnostics, Inc. 1801 Commerce Drive (5 Yr. Personal Proeprty)
sbend
>
Public
>
Common Council
>
Legislation
>
Resolutions/Special Resolutions
>
2012
>
Confirming Tax Abatement - R2 Diagnostics, Inc. 1801 Commerce Drive (5 Yr. Personal Proeprty)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/12/2012 10:24:20 AM
Creation date
6/8/2012 11:17:29 AM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
5/29/2012
Ord-Res Number
4184-12
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
16
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
South Bend Common Council <br />RE: Tax Abatement for R 2 Diagnostics, Inc.. <br />April 17, 2012 <br />Page 2 <br />rates for German Township results in $18,421 of tax being abated. <br />Total taxes to be paid using Portage Township tax rates during a (5) five -year abatement period are <br />estimated at $29,068. Total taxes to be paid using German Township tax rates during a (5) five -year <br />abatement period are estimated at $28,964. <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will create at least two (2) new, permanent, full - <br />time jobs in the first year of production representing a new annual payroll of at least $65,000. The <br />project will maintain fifteen (15) existing, permanent, full -time jobs and one (1) part-time job with a <br />total annual payroll of $800,000. <br />ABATEMENT QUALIFICATION <br />A review of the tax abatements previously granted finds that the petitioner has not been <br />granted any previous tax abatements. The related company, Enzyme Research Laboratories <br />has been associated with the following abatement: <br />Type Resolution Number Date <br />5 year personal property abatement 3555 -06 January 23, 2006 <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 <br />located in the Airport Economic Development Area, which is a Tax Incremental Allocation <br />Area; therefore, the petition for personal property tax deduction must first be approved by the <br />South Bend Redevelopment Commission. <br />4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the <br />qualifications for a (5) five -year personal property tax abatement under section 2 -84.2, <br />Tangible Personal Property Tax Abatement. <br />
The URL can be used to link to this page
Your browser does not support the video tag.