Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - November 15, 1996 <br />6. NEW BUSINESS (Cont.) <br />a. continued.... <br />Per the petition, it is estimated that this <br />project will create eight new, permanent, <br />full -time jobs within the first year <br />representing a new annual payroll of <br />$133,120. The project will also maintain <br />seventy existing permanent full time and <br />part time jobs representing an annual <br />payroll of $1,379,040. A review of the tax <br />abatements previously granted finds that <br />the petitioner was granted a ten year real <br />property tax abatement in November 1982, <br />and a five year personal property <br />abatement in September 1993. Exacto, <br />Inc. is in compliance with the reporting <br />requirements for the 1993 abatement. The <br />building commissioner has reviewed the <br />petition and finds the property to be <br />properly zoned for the proposed project. <br />A 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, as <br />well as the Urban Enterprise Zone. <br />A review of the Redevelopment <br />designation areas finds that the property is <br />located in the Sample/Ewing Development <br />Area, which is a Tax Incremental <br />Allocation Area, therefore, the petition <br />first requires the approval of the South <br />Bend Redevelopment Commission. A <br />review of the Tax Abatement Ordinance <br />finds that Exacto, Inc. meets the <br />qualifications for a five year personal <br />property tax abatement under Tangible <br />Personal Property Tax Abatement. <br />H:\ HOME\ CPHIPPS \WPDATA \COMMSN\111596.MIN 4- <br />