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South Bend Redevelopment Conmission <br />Regular Meting - May 12, 1989 <br />6. NEW BUSINESS (Cont.) <br />b. <br />Ms Robinson read the staff report for <br />this tax abatement. The petitioner, <br />Ziler Cleaners, proposes to expand the <br />present facility to :increase production <br />to acconTcdate the coapany's industrial <br />andcomyercial business. The project is <br />to create thirty new permanent, <br />full time jobs within the first year with <br />an annual payroll of $500,000 and will <br />maintain 110 existing permanent, full <br />tine jobs with an annual payroll of <br />.$2,750,000. Total project cost, <br />including equipment, is estimated at <br />$750,000. <br />property is properly zoned for the <br />posed use. It is located in an area <br />gnated as a Tax Abatement Impact Area <br />is also located in a Tax Incremental <br />ncina Allocation Area. <br />On $300,000 worth of equipment, the <br />estimated personal property taxes to be <br />paid over a five year period would be <br />$33,784. With abatement, the taxes are <br />estimated at $7,063. Therefore, the <br />axro*mt to be abated over a five year <br />pe0iod is estimated at $26,721. <br />Ziker Cleaners qualifies for three years <br />of real property tax abatement under the <br />conmercial. criteria. With a total <br />prcject cost of $450,000, the taxes to be <br />abated over a three year period are <br />imated to be $24,373. Without <br />tement, taxes are estimated at <br />$7 , 396. Therefore, the cost of the <br />tement is estimated to be $48,023. <br />in Butler, attorney for Ziker <br />r� <br />Cleaners, complemented Hedy Robinson on <br />her, timely response to this tax abatement <br />