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South Bend Common Council <br />RE: Parrish/Meyer Machine, Inc. <br />October 17, 2006 <br />Page 2 <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the total project will create (2) two new, permanent, full-time jobs in <br />the first year of production representing a new annual payroll of $50,000. The project will also maintain <br />(34) thirty-four existing, permanent full-time jobs representing an annual payroll of $701,486. <br />ABATEMENT QUALIFICATION <br />A review of the tax abatements previously granted finds that the petitioner has not been granted or <br />associated with any previous tax abatements <br />2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned <br />for the proposed project. <br />3. A review of the South Bend Redevelopment designation areas finds that the property is located in <br />the Airport Economic Development Area, which is a Tax Incremental Allocation Area; therefore, <br />the petition for personal property tax deduction 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 meets the <br />qualifications fora (5) five-year personal property tax abatement under section 2-84.2, Tangible <br />Personal Property Tax Abatement. <br />