Laserfiche WebLink
South Bend Common Council <br />RE: Tax Abatement for CBK Land Development, LLC <br />October 6, 2014 <br />Page 2 <br />efficient manner. A new facility will allow Chase additional capacity for the storage of product and to <br />provide additional truck dock doors to gain functional efficiencies. <br />Taxes abated for the ten year abatement are $546,734. Taxes paid for the ten year term are $960,185 <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the project will create five (5) new, permanent full -time positions and <br />zero (0) part-time positions with an annual payroll of $143,000 by the end of 2019. In ten years the <br />project will create 13 jobs with a payroll of $400,000. The project will maintain 12 jobs with a payroll of <br />$430,000. <br />ABATEMENT QUALIFICATION <br />A review of the tax abatements previously granted finds that the Petitioner, CBK Land <br />Development, LLC has not been granted any previous abatements. <br />2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned <br />for the proposed project. <br />The property is located in the Airport Economic Development area. <br />4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the <br />qualifications for a (10) ten -year real property tax abatement under section 2 -75 Real Property <br />Tax Abatement General Standards. <br />