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TAXABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: BROCK ZEEB <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />Kruk Electric, LLC <br />DATE: May 6, 2015 <br />On Monday, May 4, 2015, a petition from Kruk Electric, LLC was received and <br />subsequently filed with the City Clerk for personal properly tax abatement consideration <br />for property to be located at 3702 W. Sample, South Bend, IN 46619. Pursuant to Chapter <br />2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition <br />was referred to the Department of Community Investment for purposes of investigation <br />and preparation of a report determining whether the area qualifies as an Economic <br />Revitalization Area pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have <br />been met. <br />The Department of Community Investment has reviewed the petition (a copy of which is <br />attached), investigated the area, and makes the following report. <br />PROJECT SUIVEVIARY <br />➢ Purchase of two new wire former machines to expand production capabilities <br />➢ New project taxes — $15,012 <br />➢ Estimated taxes being abated during five year abatement period — $6881 <br />Total taxes to be paid on new and existing equipment over the next five years — <br />$8131 <br />EMPLOYMENT EMTACT <br />Per the petition, it is estimated that the total project will: <br />➢ Create zero (0) permanent, full-time and zero (0) permanent, part -time jobs within <br />the first year, representing a new annual payroll of $0 <br />➢ Maintain (4) four existing permanent full -time and (0) zero existing part-time jobs <br />with an annual payroll of $83,200. <br />➢ The project will create 0 jobs over ten years with a payroll of $0 per job. <br />PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMHCRESOURCES <br />ATIN KAIN PAMELA C. MEYER CHRIS FIELDING BROCK ZHEB <br />