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TAX ABATEMENT REPORT <br /> TO: SOUTH BEND COMMON COUNCIL <br /> FROM: BROCK ZEEB <br /> SUBJECT: VACANT BUILDING PROPERTY TAX ABATEMENT PETITION FOR: <br /> Appletree Associates,LP <br /> DATE: December 8,2015 <br /> On Monday, December 7, 2015, a petition from Appletree Associates, LP was received <br /> and subsequently filed with the City Clerk for vacant building property tax abatement <br /> consideration for property to be located at 1915 Bendix Drive, South Bend, IN 46628. <br /> Pursuant to Chapter 2,Article 6,Section 2-84.2 of the Municipal Code of the City of South <br /> Bend,this petition was referred to the Department of Community Investment for purposes <br /> of investigation and preparation of a report determining whether the area qualifies as an <br /> Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning <br /> requirements have been met. <br /> The Department of Community Investment has reviewed the petition (a copy of which is <br /> attached),investigated the area, and makes the following report. <br /> PROJECT SUMMARY <br /> > This 64,500 sq.ft.facility includes production,warehouse,and office space on 4.45 <br /> acres adjacent to the South Bend Airport and has been vacant since 2007. Royal <br /> Adhesive wishes to move into the facility in order to expand their current operations <br /> and help revitalize the area. <br /> > Total project taxes during two year abatement period—$62,932 <br /> > Estimated taxes being abated during two year abatement period—$39,188 <br /> > Total taxes to be paid during two year abatement period—$23,744 <br /> EMPLOYMENT IMPACT <br /> Per the petition, it is estimated that the total project will: <br /> > Create zero(0)permanent,full-time and zero(0)permanent,part-time jobs during <br /> the two year abatement period,representing a new annual payroll of$0 <br /> PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES <br /> JRN KAN PAMELA C.MEYER Cams FIELDING BROCK ZEEB <br />