Confirming Tax Abatement - 1801 Commerce Dr. Michael J. Morris (8 Year Real Property)

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equipment for the move and expansion. This petition relates to only the rehabilitation of the larger facility. A separate petition is being submitted for the purchase of the equipment. South Bend Common Council RE: Tax Abatement for Mike Morris December 16, 2005 Page 2 Currently, both firms are housed in a 9,000 sq. ft. building located at 412 S. Lafayette Blvd. The larger facility is a 25,423 sq. ft. building located at 1801 Commerce Drive. That building sits on a 2.64 acre site. The project will result in increased production capacity and an expanded product line. The estimated cost for the building's rehabilitation is $1,000,000. This tax abatement petition is for the rehabilitation costs only. EMPLOYMENTIMPACT Per the petition, it is estimated that the total project will create six (6) new, permanent, full - time jobs representing anew annual payroll of $300,750. The project will also maintain eleven (11) existing permanent full -time jobs representing an annual payroll of $324,200. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner has not been granted or associated with any previous tax abatement. 2. The building commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. S. A review of the South Bend Redevelopment designation areas finds that the property is located in the Airport Economic Development Area, which is a Tax Incremental Allocation Area, therefore, the petition for real property tax abatement must first be approved by the South Bend Redevelopment Commission. 4. A review of the Tax Abatement Ordinance (no. 8065 -90) finds that the petitioner does meet the qualifications for an eight (8) year real property tax abatement under Section 2 -82 (Industrial Development City - Wide).