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South Bend Common Council <br /> RE: Tax Abatement for Curtis Products, Inc. <br /> November 16, 2012 <br /> Page 2 <br /> Total New Project Taxes for the (5)five-year abatement period are estimated at$58,752. Taxes abated <br /> for five years would be $6,661. <br /> EMPLOYMENT IMPACT <br /> Per the petition, it is estimated that the project will create nine (9) new, permanent full-time positions <br /> with an annual payroll $230,000. The project will maintain 324 permanent full-time and 7 permanent <br /> part-time jobs representing an annual payroll of$10,300,000 for existing employees. <br /> ABATEMENT QUALIFICATION <br /> 1. A review of the tax abatements previously granted finds that the Petitioner, Curtis Products, <br /> Incorporated,has been granted a five year personal property abatement at 4/01/2000 and a five year <br /> personal property abatement at 7/12/2004. <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 South Bend Central Development 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 />