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- <br />South Bend Redevelopment Commission <br />Regular Meeting - August 21, 1998 <br />6. NEW BUSINESS (CONT.) <br />d. continued.... <br />Per the petition, it is estimated that this <br />project will create 44 new, permanent jobs <br />within the first year, representing a new <br />annual payroll of $449,109. A review of the <br />tax abatements previously granted finds that <br />the South Bend Brewery has not been <br />granted any previous tax abatement. The <br />building commissioner has reviewed the <br />petition and finds the property to be properly <br />zoned for the proposed project. The <br />property is located in an area presently <br />designated as a Tax Abatement Impact Area <br />by the South Bend Common Council. <br />The property is located in an Economic <br />Development Target Area established by the <br />South Bend Economic Development <br />Commission. A review of the designated South <br />Bend Redevelopment areas finds that the <br />property is located in the South Bend Central <br />Development Area, which is a Tax Incremental <br />Allocation Area; therefore, the petition for real <br />and personal property tax abatement must first <br />be approved by the South Bend Redevelopment <br />Commission. A review of the Tax Abatement <br />Ordinance finds that the South Bend Brewery <br />meets the qualifications for a three -year real <br />property tax abatement under Retail <br />Development in the Central Business District, <br />the East Bank Development Area and Tax <br />Abatement Impact Areas, and the South Bend <br />Brewery meets the qualifications for a five -year <br />personal property tax abatement under Tangible <br />Personal Property Tax Abatement. <br />HAWPDATA \C0MMSN\082198.MIN -12- <br />