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South Bend Common Council <br />RE: Tax Abatement for Mann + Hummel USA, Inc. <br />August 1, 2008 <br />Page 2 <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will create four (4) new, permanent, full-time jobs <br />within the first year representing a new annual payroll of $120,000. The project will retain one hundred <br />fifty-four (154) existing permanent, full-time jobs (of which 46 are minority employees) with an annual <br />payroll of $4,500,000. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted, finds that the petitioner has been granted or <br />associated with the following five (5) previous tax abatements: <br />Term/Type <br />5 year personal property <br />5 year personal property <br />5 year personal property <br />5 year personal property <br />5 year personal property <br />2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned <br />for the proposed project. <br />3. A review of the South Bend Redevelopment designation areas finds that the property is located in <br />the Airport Economic Development Area, which is a Tax Incremental Allocation Area; therefore, <br />the petition for personal property tax deduction must first be approved by the South Bend <br />Redevelopment Commission. <br />4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the <br />qualifications fora (5) five-year personal property tax abatement under section 2-84.2, Tangible <br />Personal Property Tax Abatement. <br />~l1~!~$ ~~a i~~~3',5'~ (3iflGe <br />A.UG 1 2008 <br />Mai ^^ <br />Resolution No. Date <br />1882-91 7/22/1991 <br />2098-93 9/13/1993 <br />3005-01 5/14/2001 <br />3231-03 8/25/2003 <br />3523-OS 9/26/2005 <br />