Confirming Tax Abatement - 3702 West Sample Street, Suite 1125 - Triangle Machine, Inc.

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South Bend Common Council RE: Triangle machine, Inc. March 4, 2008 Page 2 EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will create one (1) new, permanent, full-time job in the first year of production representing a new annual payroll of $30,000. The project will also maintain two (2) existing, permanent full-time jobs and one (1) existing part-time job representing an annual payroll of $75,000. ABATEMENT QUALIFICATION A review of the tax abatements previously granted finds that the petitioner has been granted or been associated with two (2) previous tax abatement. Term/Type Resolution No. Date 5-year personal property 3485-OS 7/11/2005- 5-year personal property 2583-98 3/23/1998 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. A review of the South Bend Redevelopment designation areas finds that the property is not located in any of the development areas; therefore, approval of the tax abatement petition by the South Bend Redevelopment Commission is not required. 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications for afive-year (5) personal property tax abatement under section 2-84.2, Tangible Personal Property Tax Abatement.