Laserfiche WebLink
South Bend Redevelopment Commission <br />Regular Meeting - June 5, 1998 <br />6. NEW BUSINESS (CONT.) <br />c. continued.... <br />(94) existing permanent full -time jobs <br />with an annual payroll of $3,040,000. <br />A review of tax abatements previously <br />granted finds that SGW Realty, LLC is <br />associated with Schafer Gear Works. <br />SGW, LLC has been granted six <br />previous tax abatements and they are as <br />follows: (1) A five -year personal <br />personal property tax abatement was <br />granted in January 1998. (2) A five - <br />year personal property tax abatement <br />was granted in July 1998. (3) A five - <br />year personal property tax abatement <br />was granted in June 1991. (4) A five - <br />year personal property tax abatement <br />was granted in July 1993. (5) A ten - <br />year tax abatement was granted in June <br />1994. (6) A five -year personal property <br />tax abatement was granted in October <br />1995. <br />SGW Realty, LLC is in compliance <br />with the reporting requirements for each <br />of the previous abatements. The <br />building commissioner has reviewed <br />the petition and finds the property to be <br />properly zoned for the proposed project. <br />A review of the designated South Bend <br />Redevelopment areas finds that the <br />property is located in the Airport <br />Economic Development Area, which is <br />a Tax Incremental Allocation Area; <br />therefore, the petition for real property <br />tax abatement must first be approved by <br />the South Bend Redevelopment <br />Ln <br />-18- <br />