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10-26-15 REVISED Agenda, Packet & Committee Meeting Notice
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10-26-15 REVISED Agenda, Packet & Committee Meeting Notice
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
10/26/2015
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PROJECT SUMMARY FOR THE ONE REQUESTED ABATEMENT <br /> ➢ Total project taxes during ten year abatement period—$1,691,280 <br /> ➢ Estimated taxes being abated during ten year abatement period—$988,579 <br /> ➢ Total taxes to be paid during ten year abatement period—$702,701 <br /> EMPLOYMENT IMPACT <br /> Per the petition,it is estimated that the total project will: <br /> D Create 6 permanent,full-time jobs in the ten year abatement period,representing a <br /> new annual payroll of$200,179 <br /> ABATEMENT QUALIFICATION <br /> 1. A review of the tax abatements previously granted, finds that the petitioner has <br /> been granted or associated with a previous abatement. <br /> 2. The Building Commissioner has reviewed the petition and finds the property to be <br /> properly zoned for the proposed project. <br /> 3. A review of the South Bend Redevelopment designation areas finds that the property <br /> is located in the River West Development Area. <br /> 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner does <br /> not meet the qualifications for a ten year real property tax abatement under section <br /> IC. 6-1.1-12.1-4.8 and requests an exception to the local ordinance. <br /> {ff <br /> pt <br /> 1 Filed 1;. Office <br /> �-i <br /> I OCT 20 2015 I <br /> • <br />
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