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1200 COUNTY-CITY BUILDING <br />227 W JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601 -1830 <br />PHONE 574/235 -9371 <br />FAX 574/235 -9021 <br />TDD 574/ 235 -5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY & ECONOMIC .DEVELOPMENT <br />SHARON T. KENDALL <br />EXECUTIVE DIRECTOR <br />TAX ABA TEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: SHARON TERRELL,JJ <br />SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />NILES/WASHINGTON LP f /b /o AM GENERAL <br />DATE: August 31, 2006 <br />On August 14, 2006, a petition for real property tax abatement consideration for property located at <br />105 North Niles Avenue was filed with the City Clerk by Niles /Washington LP. Pursuant to Chapter <br />2, Article 6, Section 2 -82 of the Municipal Code of the City of South Bend, this petition was referred <br />to the Department of Community and Economic Development for purposes of investigation and <br />preparation of a report determining whether the area qualifies as an Economic Revitalization Area <br />pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition (a copy of <br />which is attached), investigated the area, and makes the following report. <br />PROJECT SUMMARY <br />The Niles Avenue office is AM General's corporate headquarters. AM General is a major supplier <br />to the U.S. military of personnel vehicles and a builder of sport utility vehicles (SUVs) for General <br />Motors. The company plans to construct a 17,500 square foot addition and make improvements to <br />the existing building of 35,000 square feet. The construction of the new addition and improvements <br />to the existing office building will allow AM General to remain in South Bend with space to grow as <br />the market dictates. The estimated cost of the addition is $2,009,000 and improvements to the <br />existing building of approximately $500,000. Total taxes to be abated during the (8) eight -year <br />abatement period is estimated at $388,942. Total taxes to be paid during the (8) eight -year <br />abatement period is estimated at $299,450. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235 -9660 574/235 -9371 ELIZABETH LEONARD <br />FAx: 574/235 -9697 574/235 -9371 <br />