6B1. Resolution No. 2615 - Laserfiche WebLink

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12U~ COUNTY-CITY BLIfLDING 227 W. JEFFERSON BOULEVARD SOUTH BEND,INDIANn 46601-1830 PHONE 574/235-9377 Fnx 574/235-)021 'FDD 574/ 235-5567 CI'IZ' OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY ~ ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECI;TIVE DIRECTOR TAX ABATEMENT REPOR T TO: SOUTH BEND REDEVELOPMENT COMMISSION FROM: BOB MATHIA ~~ ~~'~ SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: HOOSIER TANK AND MANUFACTURING, INCORPORATED DATE: NOVEMBER 24, 2009 On November 18, 2009, a petition for personal property tax abatement consideration for property located at 1710 North Sheridan Street was filed with the City Clerk by Hoosier Tank and Manufacturing, Incorporated. Pursuant to Chapter 2, Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition, investigated the area, and makes the following report. PROJECT SUMMARY Hoosier Tank manufactures air pressure reservoirs for OEM truck and trailer manufacturers nationwide and internationally. They perform metal forming, welding and painting operations to make tanks that can hold air and other gases under pressure. The company has the opportunity to purchase the assets (machinery, tooling, etc.) of a large competitor located in Missouri. The company also wants to install a state of the art powder coat system. This additional equipment will allow increased production to accommodate the company's increased customer base. It will also position Hoosier Tank to be the leader in their industry and to be ready for the economic upturn ahead. The equipment to be purchased is made up of various metal forming and metal working machines including laithes and hand welders, resistance and robot welders and seamers, testers, various head and COMMENT"I'Y DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL. HL PROGRAM I'A,\-I I:LA C. MEYER DC>N ALD E. INKti MANAGEMENT 574/235-96C>0 574/235-9371 I:LLZA68TH LEONARD FAx: 574/235-9697 574/235-937]