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1200 CouNn• -Cary BUILDING <br />227 W J EFFPRSON BOULCYARD <br />Soc rH BEND, INDIANA 46601 -1830 <br />January 31, 2011 <br />Pm)Nk, 574/ 235-9371 <br />FAY 574/ 235 -9021 <br />Crry o� Sou-i -H BEND STFPHEN J. LuFcKr., MAYOR <br />COMMUNITY& ECONomIC DEVELOPMENT <br />JEFFREY V GIBNEY <br />ExrC:UT1vE 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 />South Bend Gear, LLC <br />Dear Council Member Rouse: <br />Please find 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 equipment to start up a new company to be located at 3849 Showerlux Drive. <br />The report contains the Department's findings relative to the above petition. The equipment will be used to <br />manufacture gears for the heavy duty truck market. The project will be carried out in two phases over a <br />period of two years. The total project cost for the equipment is estimated at $15,600,000. The project meets <br />the qualifications for a (5) five -year personal property tax abatement and a representative from South Bend <br />Gear will be available to meet with the Committee on Monday, February 14, 2011. <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 />COMMUNr1Y D1_,VEL0PMENT ECONOMIC DEVELOPAiENT FINANCIAL & PROCRAM <br />PAIM6LA C, MEYER DONALD H. INKS M.ANAC,EMENT <br />5741235 -9660 5741235 -9371 EiazAiwm Lwow <br />FAX: 5741235 -9469 5741235 -9371 <br />