19-19 Molding Products Confirming Personal Property Tax Abatement

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EMPLOYMENT IMPACT Per this petition, the company will retain forty-five (45) full-time jobs with an annual payroll of $1,684,800. It is estimated that the business will create twenty(20)new, permanent full-time positions and zero (0)part-time positions with an annual payroll of$748,800 within the next four years. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner, Molding Products, LLC has not been granted or associated with any previous abatement. 2. The Area Plan Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. The Building Commissioner has reviewed the petition and finds no building permit was issued. 4. A review of the South Bend Redevelopment designation areas finds that the property is located in the River West Development Area. 5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications for a(5)five-year personal property tax abatement under section 2-84.2,Tangible Personal Property Tax Abatement.