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South Bend Redevelopment Commission <br />Regular Meeting –February 6, 2009 <br /> <br />positions with an annual payroll of <br />$1,390,806. The project will also maintain <br />one hundred sixteen existing permanent full- <br />time positions, including twenty-five existing <br />permanent full-time minority employees, <br />with a total annual payroll of $6,137,614. <br /> <br />Royal Holdings, Incorporated, has not been <br />granted or associated with any previous tax <br />abatements. However, a previous owner of <br />the company, Uniroyal Technology <br />Corporation, submitted a petition for a real <br />property tax abatement on November 12, <br />1999. That petition was turned down by the <br />Common Council at the Confirming <br />Resolution stage due to a remonstrance by <br />members of the public who were mostly <br />former employees and retirees of the old <br />Uniroyal Corporation. Subsequent to that <br />abatement petition, Uniroyal Technology <br />Corporation sold the company and no longer <br />has any ownership interest in it. <br /> <br />The property is properly zoned for the <br />proposed project. The property is located in <br />the West Washington – Chapin Development <br />Area, which is a Tax Incremental Allocation <br />Area; therefore, the petition for real property <br />tax deduction must first be approved by the <br />South Bend Redevelopment Commission. <br />The project qualifies for up to a five-year real <br />property tax abatement and for a (5) five-year <br />personal property tax abatement under the <br />tax abatement ordinance. <br /> <br />Mr. Varner noted that he is a proponent of <br />helping existing businesses. He was a <br />member of the Council ten years ago when <br />the previous owner wanted tax abatement. <br />He voted in the minority, in favor of the tax <br />abatement then and supports this request. He <br />hopes the company can continue to grow in <br /> 7 <br /> <br />