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,......____. Filed in T6Ik'SOffiice 6--613T11. ai) r N 14 2019 �� PE CE_ ,a=/ KAREENIAH FOWLER 15'�� CITY CLERK,SOUTH BEND IN CITY OF SOUTH BEND COMVUNITY INVESTMENT To: Common Council Members From: Daniel J. Buckenmeyer, Director of Business Development Re: 2018 Tax Abatement Annual Report Date: June 14, 2019 Dear Common Council Members: It is our pleasure to present the Annual Tax Abatement Report for 2018 from the Department of Community Investment. The staff reviewed annual CF-1 forms submitted by tax abatement holders and found that all 75 active Tax Abatements were in compliance. • 47 Real Property Tax Abatements • 28 Personal Property Tax Abatements Job creation goals have been shattered across all tax abatements: • Real Property Abatements committed 2,402 jobs and achieved 2,837 jobs • Personal Property Abatements committed 2,543 jobs and achieved 2,791 jobs Private Investment has the appearance of lagging, but please keep in mind that several of these abatements are for projects that are soon-to-launch or partly underway, and several are significantly large. DCI is not concerned and remains confident that those goals will be met: • Real Property Abatements committed $283M and invested $210M so far • Personal Property Abatements committed $363M and invested $323M so far Average Hourly Wages hover appropriately near the BLS National Average of$24.98: • Real Property Abatements reported an average hourly wage of$22.34 • Personal Property Abatements reported an average hourly wage of$25.05 Minority Employment: • 1,182 minorities are employed by Real and Personal Tax Abatement recipients D:\..NIELJ.BLCKENM EVER ad.KEVNA A1.URNCE P:\.\tEL{ME ER TIM CORCOR9N BOSINEss DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DE EIAI'NF_.T P1AN\9SG&CONDIUN v RF-SOURCES EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov