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RE: Tax Abatement for Boyd's Services <br />January 24, 2014 <br />Page 2 <br />Boyd's Services has two divisions which are both service businesses. Our tax abatement ordinance <br />does hot have a provision for incentives for service businesses so this would be an exception to the <br />Code. However, approval of the abatement contributes to the revitalization of historic building and <br />the surrounding neighborhood. <br />The total taxes to be abated during that term are estimated at $9,272. Total taxes to be paid during <br />the six -year term are estimated at $13,166 <br />EMPLOYMENT IMPACT <br />Per the petition, it is estimated that the project will create one new, permanent full -time position <br />with a salary of $24,960. It will retain one existing permanent full -time position with a salary of <br />$33,280. <br />ABATEMENT QUALIFICATION <br />A review of the tax abatements previously granted finds that the petitioner has not been granted <br />any previous abatements. <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 West Washington Development Area. <br />4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner will need to be <br />granted an abatement as an exception to the Code under Section 2 -84 Council's Authority to <br />Enlarge Real Property Tax Abatement General Standards. <br />