Confirming Tax Abatement - 4440 North Portage Road - The South Bend Clinic

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South Bend Common Council RE: Tax Abatement for The South Bend Clinic December 29, 2006 Page 2 The project meets the point requirements for five years of abatement. It would be the staff's recommendation to make the project eligible fora (5) five-year real property tax abatement. Total taxes to be abated during the (5) five-year abatement period are estimated at $301,782. Total taxes to be paid during the (5) five-year abatement period are estimated at $201,188. EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will create (1) one new, permanent, full-time job and (2) two permanent, part-time jobs within the first year representing a new annual payroll of $66,705. The project will also maintain (19) nineteen existing, permanent, full-time jobs and (7) seven, permanent, part-time jobs representing an annual payroll of $600,000. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner has not been granted or associated with any previous tax abatements. 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner does not meet the qualifications for a real property tax abatement. A (5) five-year real property tax abatement is being sought as a special exception.