Confirming Tax Abatement - Bamar Plastics Inc. 1702 S. Robinson St. (5 Year Personal Property)

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BROCK ZEEB SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: Bamar Plastics, Inc. DATE: April 6, 2015 On Monday, April 6, 2015, a petition from Bamar Plastics, Inc. was received and subsequently filed with the City Clerk for personal property tax abatement consideration for property to be located at 1702 S. Robinson St, South Bend, IN 46613. 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 I.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 ➢ New vertical rotary press being purchased to meet market needs and to help attract new customers ➢ New project taxes — $30,883 ➢ Estimated taxes being abated during five year abatement period — $14,156 ➢ Total taxes to be paid on new and existing equipment over the next five years — $16,727 EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will: ➢ Create 2 -3 permanent, full -time and zero (0) permanent, part-time jobs within the first year, representing a new annual payroll of $20,800 - $31,200 per job ➢ Maintain (0) zero existing permanent full -time and (0) zero existing part-time jobs with a payroll of $0. ➢ The project will create 2 -3 jobs over ten years with a payroll of $208,000- 312,000 per job. PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES Jaw KAIN PAMELA C. MEYER CHRIS FIELDING BROCK ZEEB