Confirming Tax Abatement - Crowe, Chizek & Company LLP 330 E. Jefferson Blvd. (10 Year Real Property)

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WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council pursuant to Section 2 -84 of the South Bend Municipal Code finds the ten " years is the appropriate and rational time period for this tax abatement in light of the following: The petitioner is a long time South Bend based business and is the headquarters for its worldwide operations. 2. The petitioner currently employs over 430 people in the South Bend office and has an annual payroll of over $28 million. The petitioner also projects to add 150 new people to its payroll over the next six years. The petitioner wants to expand its capabilities in the training and seminar areas, which will result in thousands of new visitors to our community annually. The petitioner cites the enormous costs associated with this project, with construction costs of nearly $7.8 million and total project costs of over $10.8 million. SECTION II. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION III. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of ten (10) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6- 1.1 -12 et sea. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. PRESENTED x"-13 -0` NOT APPROVED ADOPTED 8--k3-01 2 Member of the Common Coiheir Filed in Clerk's Office i Y 7001 LORMAJ. DU()8+ CL CITY VR 80.6@ND, IN.