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South Bend Common Council <br />RE: Tax Abatement for DSM Holding, LLC (dba Deluxe Sheet Metal) <br />June 20, 2000 <br />Page 2 <br />current capacity and are continuing to grow. The project will allow <br />for expansion capabilities for current and future needs. <br />EMPLOYMENT IMPACT <br />Per the petitioner, four (4) new jobs will be created the first <br />year, representing a new annual payroll of $194,100 and will <br />maintain fifty -seven (57) existing permanent full time jobs and one <br />(1)part -time job with an annual payroll of $4,536,000. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted finds that the <br />petitioner has not been granted any.previous tax abatements. <br />2. The building commissioner has reviewed the petition and finds the <br />property to be properly zoned for the proposed project. <br />3. A review of the South Bend Redevelopment designation areas finds <br />that the property is located in the Airport Economic Development <br />Area, which is a Tax Incremental Allocation Area, therefore, the <br />petition for real property tax abatement must first be approved by <br />the South Bend Redevelopment Commission. <br />4. A review of the Tax Abatement Ordinance (no. 8065 -90) finds that <br />the petitioner meets the qualifications for a ten year real <br />property tax abatement under Section 2 -82 (Industrial Development <br />City- Wide). <br />Filed lin Clerk's Office <br />EJUN0 2000 <br />LORETTA J. DUDA <br />CRY CLERK, SO. BEND. W. <br />