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South Bend Common Council <br />RE: Tax Abatement for MHM Realty <br />February 15, 2007 <br />Page 2 <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will create (4) four new, permanent, full-time <br />jobs and (28) twenty-eight part-time, permanent jobs within the first year representing a new annual <br />payroll of $489,232. <br />ABATEMENT QUALIFICATION <br />A review of the tax abatements previously granted finds that the petitioner has not been granted <br />or associated with any previous tax abatements: <br />2. The Building Commissioner has reviewed the petition and finds the property to be properly <br />zoned for the proposed project. <br />3. A review of the South Bend Redevelopment designation areas finds that the property is located <br />in the Central Development Area, which is a Tax Incremental Allocation Area; therefore, the <br />petition for real property tax abatement must first be approved by the South Bend <br />Redevelopment Commission. <br />4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner does meet the <br />qualifications fora (6) six-year real property tax abatement under Section 2-79, Retail <br />Developments in the Central Business District. <br />