Bill 16-31 Confirming Intersection of Mayflower Rd and Western Ave for a six (6) year real property tax abatement

Home Browse Search

TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: AARON KOBB SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: County Development, LLC DATE: March 22, 2016 On Tuesday, March 22, 2016, a petition from County Development, LLC was received and subsequently filed with the City Clerk for real property tax abatement consideration for property to be located at the intersection of Mayflower Rd and Western Avenue, South Bend, IN 46619. Pursuant to Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community Investment for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. The Department of Community Investment has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT SUMMARY ➢ Approximately $6,800,000 construction of a new 40,000 square foot supermarket store and 4000 square foot convenience store and fuel center business. ➢ Estimated total taxes on new building construction during six year abatement period — $1,180,460 ➢ Estimated taxes being abated on new building construction during six year abatement period — $464,668 ➢ Estimated taxes to be paid on new building construction during six year abatement period — $715,792 EMPLOYMENT IWACT Per the petition, it is estimated that the total project will: ➢ Create 13 permanent, full-time jobs within the six year abatement period, representing a new annual payroll of approximately $453,440 ➢ 30 total jobs will be retained with a total annual payroll of approximately $936,000 PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB