Confirming Tax Abatement - USF Holland, Inc. 5550 Cleveland Rd. (6 Year Real Property)

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South Bend Common RE: Tax Abatement March 7, 2000 Page 2 Council for USF Holland Inc. EMPLOYMENT IMPACT Per the petition, it is estimated that this project will create 25 -30 new, permanent, full time jobs within the first year, representing a new annual payroll of $1.3 - 1.5 million and will maintain 299 existing permanent full -time and two (2) part -time jobs representing an annual payroll of $15,300,000. over two (2) years we anticipate that approximately 45 new jobs will be created, which, after two years seniority, will pay an average wage of $52,000. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner has been granted one previous tax abatement. Term /Type Resolution No. Date 5 year real property R21 -89 08/12/97 *Note: This abatement was granted by the St. Joseph County Council 2. The building commissioner has reviewed the petition and has found the property to be properly zoned for the proposed use. 3. 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 and personal property tax abatement must first be approved by the South Bend Redevelopment Commission. The Redevelopment Commission will consider this abatement at their regularly scheduled meeting on Friday, March 3, 2000. 4. A review of the Tax Abatement Ordinance (no. 8065 -90) finds that the petitioner meets the qualifications for a six year real property tax abatement under Section 2 -83 (Warehouse Development City- Wide).