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South Bend Redevelopment Commission <br /> Regular Meeting—September 13, 2012 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Tax Abatements <br /> (1) continued... <br /> project will maintain 70 existing permanent, <br /> full-time jobs with an annual payroll of <br /> $2,500,000. <br /> Information about construction related <br /> activities is not yet known, but will be <br /> available prior to the Common Council's <br /> date for granting a confirming resolution. <br /> The company will qualify for a three-to <br /> four-year real property abatement. Total <br /> taxes to be abated during a four-year <br /> abatement period are estimated at $10,044. <br /> Total taxes to be paid during a four-year <br /> abatement period are estimated at $291,483. <br /> Total taxes to be abated during a three-year <br /> abatement are estimated at $7,995. Total <br /> taxes to be paid during a three-year <br /> abatement are estimated at $218,150. <br /> Indiana Rotomolding was granted one <br /> previous, four-year abatement in 2007. <br /> Since this property is located within the <br /> Airport Economic Development Area, <br /> Commission approval is required. <br /> Upon a motion by Mr. Downes, seconded by COMMISSION APPROVED RESOLUTION No.3074 <br /> Mr. Alford and unanimously carried, the APPROVING AN APPLICATION FOR REAL <br /> Commission approved Resolution No. 3074 PROPERTY TAX DEDUCTION FOR PROPERTY <br /> LOCATED AT 3300 N.KENMORE IN THE AIRPORT <br /> approving an application for real property tax ECONOMIC DEVELOPMENT AREA(INDIANA <br /> deduction for property located at 3300 N. ROTOMOLDING). <br /> Kenmore in the Airport Economic <br /> Development Area.(Indiana Rotomolding) <br /> 10 <br />