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EMPLOYMENT IMPACT <br />Per the petition, the redevelopment and rehabilitation project will create eighteen full-time <br />permanent jobs within the first year, representing a new annual payroll of $465,000 and will maintain <br />six existing permanent full-time jobs with an annual payroll of $156,000. Of the existing jobs, five <br />full time positions are held by minorities. The payroll numbers do not include benefits, for which all <br />employees have eligibility. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted finds that the petitioner has been granted or <br />associated with (5) five previous tax abatements: <br />Term/Tyne <br />6-year real property <br />6-year real property <br />10 year real property <br />10 year real property <br />10 year real property <br />Resolution No. Date <br />2102-94 2/28/94 <br />2242-95 5/22/95 <br />2457.97 5/6/97 <br />2634-98 6/22198 <br />2917-00 8/28/00 <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 Airport Economic Development Area, which is a Tax Incremental Allocation Area; <br />therefore, the 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 2-83.1, Industrial <br />Development in an Economic Development Target Area. <br />