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,......____. <br /> Filed in T6Ik'SOffiice <br /> 6--613T11. <br /> ai) <br /> r <br /> N 14 2019 <br /> �� PE CE_ ,a=/ KAREENIAH FOWLER <br /> 15'�� CITY CLERK,SOUTH BEND IN <br /> CITY OF SOUTH BEND <br /> COMVUNITY INVESTMENT <br /> To: Common Council Members <br /> From: Daniel J. Buckenmeyer, Director of Business Development <br /> Re: 2018 Tax Abatement Annual Report <br /> Date: June 14, 2019 <br /> Dear Common Council Members: <br /> It is our pleasure to present the Annual Tax Abatement Report for 2018 from the Department of <br /> Community Investment. The staff reviewed annual CF-1 forms submitted by tax abatement holders and <br /> found that all 75 active Tax Abatements were in compliance. <br /> • 47 Real Property Tax Abatements <br /> • 28 Personal Property Tax Abatements <br /> Job creation goals have been shattered across all tax abatements: <br /> • Real Property Abatements committed 2,402 jobs and achieved 2,837 jobs <br /> • Personal Property Abatements committed 2,543 jobs and achieved 2,791 jobs <br /> Private Investment has the appearance of lagging, but please keep in mind that several of these <br /> abatements are for projects that are soon-to-launch or partly underway, and several are significantly <br /> large. DCI is not concerned and remains confident that those goals will be met: <br /> • Real Property Abatements committed $283M and invested $210M so far <br /> • Personal Property Abatements committed $363M and invested $323M so far <br /> Average Hourly Wages hover appropriately near the BLS National Average of$24.98: <br /> • Real Property Abatements reported an average hourly wage of$22.34 <br /> • Personal Property Abatements reported an average hourly wage of$25.05 <br /> Minority Employment: <br /> • 1,182 minorities are employed by Real and Personal Tax Abatement recipients <br /> D:\..NIELJ.BLCKENM EVER ad.KEVNA A1.URNCE P:\.\tEL{ME ER TIM CORCOR9N <br /> BOSINEss DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DE EIAI'NF_.T P1AN\9SG&CONDIUN v RF-SOURCES <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />