01-26-15 Agenda, Packet and Committee Meeting Notice

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227 w. JI(FEEIMN 13OUI.EVARD Suw( 14005. Sm i rl Ilan. IN 46601 -1830 CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR COMMUNITY INVESTMENT SCOTT FORD, EXECUTIVE DIRECTOR TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BROCK ZEEB PHONR:574/235 -9371 FAX: 574/135 -9021 SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: HERAEUS KULZER, LLC DATE: January 14, 2015 On Monday, January. 12, 2015 a petition was received for personal property tax abatement consideration. The property will be located at 4315 S. Lafayette Blvd, South Bend, is filed with the City Clerk by Heraeus Kulzer, LLC. Pursuant to Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community Investment for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to 1.C.6 -1.1 -12.1 and whether all zoning requirements have been met. The Department of Community Investment has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT SUMMARY Dcntal equipment and Supply manufacturing equipment. New project taxes will be $108,325. Total taxes to be abated during the (5) five -year abatement period are estimated at $ 53,811. Total taxes to be paid over five years on the new and existing equipment are estimated at $54,514. EMPLOYMENTIMPACT Per the petition, it is estimated that the total project will: (a) create two (2) permanent, full - time and zero (0) permanent, part-time jobs within the first year, representing a new annual payroll of $ 95,680 and (b) will maintain 90 existing permanent full -time and zero (0) PI.AN'NING NEIGHBORiIOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES J111N KAIN P.ANIM A C MEYER CI IRIS Flumm, HRrx'K ZI.F11