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South Bend Common Council <br /> RE: Tax Abatement for South Bend Woodworks, LLC <br /> November 20, 2012 <br /> Page 2 <br /> Total Taxes Abated for the (5) five-year abatement period are estimated at$1,986. Taxes Paid for five <br /> years would be $1,933. <br /> EMPLOYMENT IMPACT <br /> Per the petition,it is estimated that the project will create two (2)new,permanent full-time positions and <br /> four(4)part-time positions with an annual payroll of$75,000 to$100,000. The project will not maintain <br /> any existing positions as this is a start-up company. <br /> ABATEMENT QUALIFICATION <br /> 1. A review of the tax abatements previously granted finds that the Petitioner, South Bend <br /> Woodworks, LLC has not been granted any previous abatements. <br /> 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned <br /> for the proposed project. <br /> 3. A review of the South Bend Redevelopment designation areas finds that the property is located in <br /> the Sample-Ewing area. . <br /> 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the <br /> qualifications for a (5) five-year personal property tax abatement under section 2-84.2, Tangible <br /> Personal Property Tax Abatement. <br />