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1200 CouNTY -CITY BUILDING <br />227 W. JEFFERSON BOUI,EvARD <br />Sours BEND, INDIANA 46601 -1830 <br />May 3, 2010 <br />PHONE 5741 23 5 -9371 <br />FAx 5741 235 -9021 <br />TDD 574/ 235 -5567 <br />CITY of SOUTH BEND STEPHEN J. LuEcKE, MAYOCZ <br />COMMUNITY& EcONomic DEVELOPMENT <br />JEFFRF -Y V. GiBNFY <br />EXECUTIVE DIRECTOR <br />Council Member Timothy Rouse, Chairperson <br />Community & Economic Development Committee <br />South Bend Common Council <br />4th Floor, County City Building <br />South Bend, IN 46601 <br />RE: Personal Property Tax Abatement Petition for: <br />Value Production, Inc. <br />Dear Council Member Rouse: <br />Please rind attached the Department of Community & Economic Development's report on a personal <br />property tax abatement petition for the above - referenced petitioner. Also attached is a copy of the petition, <br />Statement of Benefits form, and supporting information. The project calls for the acquisition and <br />installation of new equipment as part of the company's planned increase in productive capacity in its facility <br />located at 2629 Foundation Drive. <br />The report contains the Department's findings relative to the above petition. Value Production will be <br />purchasing and installing new equipment. The total project cost for the equipment is estimated at <br />$1,500,000. The project meets the qualifications for a (5) five -year personal property tax abatement and a <br />representative from Value Production will be available to meet with the Committee on Monday, May 24, <br />2010. <br />Should you or any of the other Council members have any questions concerning the report, or need <br />additional information, please feel free to call me at 235 -5835. <br />Sincerely, <br />Bob Mathia <br />Assistant Director, <br />Economic Development <br />Attachments <br />cc: South Bend Common Council Members <br />Mayor Stephen Luecke <br />Jeff Gibney <br />Don Inks <br />COMMUNITY DEVELOPMENT P.GONOMIC: DE"LOPMENT FINANCIAL & PROGRAM <br />PAMELA C. MEYER DONALD E. INK5 MANAGEMENT <br />5741235 -9660 5741235 -9371 ELIZABETH LEONARD <br />FAX: 574/235 -9697 5791235 -9371 <br />