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South Bend Redevelopment Commission <br />Regular Meeting - October 4, 1996 <br />6. NEW BUSINESS (Cont.) <br />b. continued.... <br />estimated at $160,000. Per the petition, it <br />is estimated that this project will create <br />one new, permanent, full -time job within <br />the first year representing a new annual <br />payroll of $25,000. The project will also <br />maintain ninety -five full time jobs and five <br />part time jobs representing an annual <br />payroll of $4,500,000. <br />A review of the tax abatements previously <br />granted finds that Manufacturing <br />Technology, Inc. has been granted three <br />previous tax abatements. The first was a <br />five year personal property abatement <br />granted to Adams Engineering (the <br />predecessor of Manufacturing <br />Technology, Inc.) for real and then <br />personal property. The real property <br />abatement was for six years and was <br />passed in January 1992. The last <br />abatement was for personal property and <br />was passed in January 1992. <br />Manufacturing Technology, Inc. is in <br />compliance with the reporting <br />requirements for the previous abatements. <br />The Building Commissioner has reviewed <br />the petition and finds that the property is <br />properly zoned for the proposed use. A <br />review of the tax abatement designation <br />maps finds that the property is located in <br />the Tax Abatement Impact Area and the <br />Economic Development Target Area. A <br />review of the Redevelopment designation <br />areas finds that the property is located in <br />the West Washington- Chapin <br />Development Area, which is a Tax <br />Incremental Allocation Area, therefore, <br />in <br />