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South Bend Redevelopment Commission <br />Regular Meeting - May 5, 2000 <br />6. NEW BUSINESS (CONT.) <br />b. continued... <br />Per the petition, it is estimated that this <br />project will create 10 new, permanent, <br />full -time jobs within the first year, <br />representing a new annual payroll of <br />$350,000 and will maintain 38 existing <br />permanent, full -time jobs representing an <br />annual payroll of $1,700,000. <br />A review of the tax abatements <br />previously granted, finds that Blackthorn <br />Nimtz Partners L.P. (Haldex Garphyttan <br />Wire) has been granted two previous tax <br />abatements. <br />The building commissioner has reviewed <br />the petition and has found the property <br />to be properly zoned for the proposed <br />use. <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 a <br />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 />Commission. <br />A review of the Tax Abatement <br />Ordinance finds that Blackthorn Nimtz <br />Partners L.P. (Haldex Garphyttan Wire) <br />meets the qualifications for a ten -year <br />real property tax abatement under <br />Industrial Development Citywide. <br />-4- <br />