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RM 09-06-96
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RM 09-06-96
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South Bend Redevelopment Commission <br />Regular Meeting - September 6, 1996 <br />5. OLD BUSINESS (Cont.) <br />a. continued.... <br />will create six (6) new permanent full - <br />time jobs within the first year, <br />representing an annual payroll of <br />$167,450 and will maintain forty seven <br />(47) full -time and part-time jobs, <br />representing an annual payroll of <br />$1,400,000.00 <br />A review of the tax abatements <br />previously granted finds that Total <br />Enterprises has not been granted any <br />previous tax abatement consideration. <br />The Building Commissioner has <br />reviewed the petition and finds the <br />property to be properly zoned for the <br />proposed use. A review of the tax <br />abatement designation areas finds that <br />the property is not located in an area <br />presently designated as a Tax Abatement <br />Impact Area nor is it located in the <br />Economic Development Target Area. A <br />review of the Redevelopment <br />designation areas finds that the property <br />is located in the Airport Economic <br />Development Area, which is a Tax <br />Incremental Allocation Area, therefore, <br />the petition first requires the approval of <br />the South Bend Redevelopment <br />Commission. A review of the Tax <br />Abatement Ordinance finds that Total <br />Enterprises, Inc. meets the qualifications <br />for a five (5) year personal property tax <br />abatement. <br />Using the estimated project cost of <br />$241,879 the taxes expected to be <br />c <br />
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