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227 W. JEFFERSON BOULEVARD <br />SUITE 1400 S. <br />SOUTH BEND, IN 46601 -1830 <br />CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR <br />COMMUNITY INVESTMENT <br />SCOTT FORD; EXECUTIVE DIRECTOR <br />RE: Tax Abatement for Ceol Mor Properties, LLC and Crooked Ewe, Inc. <br />July 3, 2013 <br />Page 2 <br />South Bend Common Council <br />PHONE: 574/235 -9371 <br />FAX: 574/235 -9021 <br />will be storage and a deck overlooking the St. Joseph River. There is also a two story section which will <br />be rehabilitated. And finally a flat roof off the rear of the building will be rehabilitated. The renovations <br />will cost $320,000 and will be financed with an SBA 504 loan. Our local code provides for tax abatement <br />for manufacturing concerns on a city wide basis having 10,000 square feet of rehabilitated space. Because <br />this structure has only 7,400 square feet and because this establishment will be a combination <br />manufacturing facility and restaurant, this request for real property abatement is an exception under the <br />City Code. <br />The brewing equipment that the tenant, Crooked Ewe, intends to install consists of 13 vessels (ranging <br />from 310 gallons to 400 gallons). A small computer system will also be installed for brewing software <br />which will allow them to closely monitor the product. They will also install 20 solar panels on the roof to <br />aid in water heating. The cost of the brewing equipment and IT equipment is $114,037. Any restaurant <br />equipment would not be covered by the abatement due to the definitions of equipment in the State and <br />local code. <br />Total taxes to be abated during the (5) five -year personal property abatement period are estimated at <br />$5,032. Total new taxes to be paid over five years are estimated at $4,899. Total taxes to be abated during <br />the three (3) year real property abatement period are estimated at $14,096. Total new taxes to be paid over <br />three (3) years are estimated at $14,506. <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the 40tal project will: (a) create 21 permanent, full -time and 5 <br />permanent, part-time jobs within the first year, representing a new annual payroll of $752,460. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted, finds that the petitioner has not been granted <br />any previous tax abatements. <br />PIANNING NEIGHBORHOOD ENGAGEMENT ECONOMIC RESOURCES <br />JITIN KAIN PAMELA C. MEYER DONALD E. INKS <br />