Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - June 20, 1997 <br />6. NEW BUSINESS (CONT.) <br />d. continued.... <br />and achieve future growth. It is estimated <br />that this project will create ten (10) <br />permanent new jobs within the first year <br />representing an annual payroll of <br />$208,000. The project will also maintain <br />seventy (70) full time and part time jobs <br />representing an annual payroll of <br />$1,423,233. <br />A review of the tax abatement records <br />found no previous tax abatement <br />consideration granted to General Sheet <br />Metal, Inc. The building commissioner <br />has 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 maps finds that the <br />majority of the property is located in the <br />Tax Abatement Impact Area, however, a <br />parcel lying west of the conrail tracks is <br />not in the Tax Abatement Impact Area. A <br />review of the South Bend Redevelopment <br />Allocation areas finds that the property is <br />located in the Sample Ewing Development <br />Area, which is a Tax Incremental <br />Financing Allocation Area, therefore, the <br />petition first requires the approval of the <br />South Bend Redevelopment Commission. <br />A review of the Tax Abatement Ordinance <br />finds that General Sheet Metal, Inc. meets <br />the qualifications for a five year (5) <br />personal property tax abatement. <br />With the project cost of $728,900, the <br />taxes generated total approximately <br />$72,871. The taxes abated over the five <br />-12- <br />