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Confirming Tax Abatement - East Bank South Bend Development LLC 215 N. Sycamore St. (8 Year Real Property)
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Confirming Tax Abatement - East Bank South Bend Development LLC 215 N. Sycamore St. (8 Year Real Property)
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12/11/2013 3:40:59 PM
Creation date
12/11/2013 3:38:35 PM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
12/9/2013
Ord-Res Number
4307-13
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South Bend Tax Abatement Ordinance <br />Contribute toward health plan <br />34 <br />Contribute to pension or retirement plan <br />29 <br />Provide training to employees which consists of certified training or educational <br />courses or programs conducted within or outside the place of employment <br />28 <br />Provide or contribute to cost of child day care <br />15 <br />Provide Transportation Assistance to lower income employees such as using <br />public transportation, subsidized public transportation orspecial van services. <br />14 <br />Provide an employer-assisted home ownership program <br />9 <br />226 <br />267 <br />Workforce Related Actions of Applicant <br />268 <br />Create a specified number of new jobs <br />42 <br />Retain a specified number of existing jobs <br />41 <br />Maintain or establish an Affirmative Action Plan <br />35 <br />Provide targeted hiring preference for residents of Census Tracts designated by <br />the Community & Economic Dev. Dept. that have the highest unemployment or <br />the highest percentage of low and moderate income individuals. <br />34 <br />394 <br />& over <br />Pay for extending or over sizing municipal infrastructure including water, <br />sewer, drainage facilities, wastewater treatment facilities, road and street <br />improvements, street lighting, and traffic control and related public <br />improvements. <br />Over sizing (cumulative) <br />14 <br />Pay 26 to 50% of extension (cumulative) <br />26 <br />Pay for 51 to 75% of extension cumulative <br />39 <br />Pay for 76 to 100% of extension cumulative <br />52 <br />Support a Municipal Facility <br />Provide significant financial support to a municipally owned facility such as a <br />ark, recreation, cultural arts or entertainment facility. <br />84 <br />Yes: 34 <br />Yes: 29 <br />Yes: 28 <br />Yes: 14 <br />Yes: 09 <br />Yes: 42 <br />Yes: 34 <br />Public Benefit Points and thresholds for Additional Abatement Years Total: 402 <br />The following points must be achieved to earn consideration for each additional year of <br />abatement. <br />Table II - Multifamily Development Projects <br />From <br />To <br />Additional Years <br />0 <br />141 <br />0 <br />142 <br />183 <br />1 <br />184 <br />225 <br />2 <br />226 <br />267 <br />3 <br />268 <br />309 <br />4 <br />310 <br />351 <br />5 <br />352 <br />393 <br />6 <br />394 <br />& over <br />7 <br />(Rev. 5/13/11) <br />X: 402 pts. 3 Years + 7 Additional Years: 10 Years <br />
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