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Amending Chapter 2 as Tax Abatement Procedures
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Amending Chapter 2 as Tax Abatement Procedures
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11/8/2012 2:51:55 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
2/12/1990
Ord-Res Number
8065-90
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(9) An estimate of the after-rehabilitation <br /> market value of the real property or an estimate of the <br /> market value of the new manufacturing equipment after <br /> installation. <br /> (10) The commitment to minority employment during <br /> the first five (5) years of tax abatement. <br /> (11) A description of the proposed project <br /> (whether rehabilitation, new construction, or installation <br /> of new manufacturing equipment) , including information about <br /> physical improvements to be made or the new manufacturing <br /> equipment to be installed, an estimate of the cost of the <br /> project, the amount of land to be used, the proposed use of <br /> the improvements, and a general statement as to the value of <br /> the project to the business. <br /> (12) An estimate of the number of new permanent <br /> jobs to be created by the project within one (1) year, a <br /> statement of the current 'number of permanent and part-time <br /> jobs at the location and the impact on those current jobs to <br /> be caused by the project, and the projected annual salaries <br /> for each such position to be created. <br /> (13) Verification that no building permit has <br /> been issued for construction on the property for the <br /> improvement proposed or verification that the new <br /> manufacturing equipment has not been installed. <br /> (14) The Standard Industrial Classification <br /> Manual major group within which the proposed project would <br /> be classified, by number and description. <br /> (15) The Internal Revenue Service Code of <br /> principal business activity by which the proposed project <br /> would be classified, by number and description. <br /> (16) A description of on-site child care or day <br /> care facilities, services, or benefits currently offered or <br /> proposed to be offered by the petitioner for children of <br /> employees. <br /> • <br /> (17) Other anticipated public financing for the <br /> project, including, if any, industrial revenue bonding to be <br /> sought or already authorized, assistance through the United <br /> States Department of Housing and Urban Development funds <br /> from the City of South Bend, Small Business Administration <br /> Section 503, financing through the Business Development <br /> Corporation of South Bend, Mishawaka, and St. Joseph County, <br /> Indiana; or other public financial assistance, including but <br /> not limited to public works improvements. <br /> (18) For real property tax abatement, a <br /> description of how the property in question has become <br /> undesirable for or impossible of normal development and <br /> occupancy because of lack of development, cessation of <br /> growth, deterioration of improvements, or character of <br /> occupancy, age, obsolescence, substandard buildings or other <br /> factors which have impaired values and prevent a normal <br /> development of the property or property use. <br /> (19) For personal property tax abatement, a <br /> description of why the facility or group of facilities to be <br /> replaced are technologically, economically or energy <br /> obsolete. whereby the obsolescence may lead to a decline in <br />
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