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South Bend Common Council <br />RE: Tax Abatement for Lippert Components Manufacturing, hic. <br />March 21, 2014 <br />Page 2 <br />Total taxes to be abated during the five -year (5) abatement period are estimated at $52,899. Total <br />taxes to be paid during the five -year (5) abatement period are estimated at $58,907. <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will create 200 new, permanent, full -time jobs <br />representing a new annual payroll of $5,200,000 over a two year period. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted finds that the petitioner has not been granted <br />or associated with any previous tax abatements: <br />2. The Building Commissioner has reviewed the petition and finds the property to be properly <br />zoned for the proposed project. <br />3. A review of the South Bend Redevelopment designation areas finds that the property is located <br />in the Sample -Ewing Development area. <br />4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the <br />qualifications for a five year personal property tax abatement. <br />