12-21-2007 2007 sees major growth in residential developments

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is truly remarkable." For 11 consecutive years, construction has started on more than 100 new homes annually within the city limits. The growth in residential tax abatements also extends to the industrial and commercial arena Earlier this year, a preliminary report on tax abatements showed that 2007 also was shaping up to be one of the best years in a decade for new-job creation, commercial investment and growth. For the first eight months of 2007, approved tax abatements were projected to lead to the creation of 186 new jobs with an increased payroll of$8.9 million. During that same period, tax abatement petitions filed by 17 commercial firms helped retain in South Bend an additional 1,453.5 jobs. Through Aug. 25 of this year alone, the projected $102.7-million investment in South Bend exceeded full-year totals for the past nine years, while 2007's total payroll increase for two-thirds of the year already was the largest of all but one of the last nine years. For more information about the mid-year preliminary report, see http://www.southbendin.gov/docs/News 090707 TaxAbatements.pdf - 30 -