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~ ~-~') <br />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 />C['I'Y OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY $L ECONOMIC DEVELOPMENT <br />JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX A BA TEMENT REPOR T <br />TO: SOUTH BEND REDEVELOPMENT COMMISSION <br />FROM: BOB MATHIA ~.,~ <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />GLOBAL PARTS NETWORK, LLC <br />DATE: February 17, 2011 <br />On February 17, 2011, a petition for personal property tax abatement consideration for property located at <br />5102 Dylan Drive was filed with the City Clerk by Global Parts Network, LLC. Pursuant to Chapter 2, <br />Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend, this petition was referred to the <br />Department of Community and Economic Development for purposes of investigation and preparation of a <br />report determining whether the area qualifies as an Economic Revitalization Area pursuant to <br />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, investigated the <br />area, and makes the following report. <br />PROJECT SUMMARY <br />Global Parts Network is proposing to set up a new manufacturing/distribution facility that will <br />manufacture/distribute brake shoes and other parts for the heavy duty truck market. The project will <br />acquire several pieces of equipment including a press, press washers, blasters, paint line, packaging <br />machines, forklifts, riveters and deriveters as well as computer hardware and peripheral equipment. The <br />Petitioner plans to lease a portion of the Huron Building managed by Holladay Properties to house the <br />new facility. The company is considering the South Bend location as well as sites in Illinois and <br />Kentucky. <br />The estimated cost of the project is $2,075,000. Total taxes to be abated during the (5) five-year abatement <br />period are estimated at $90,250. Total taxes to be paid during the (5) five-year abatement period are <br />estimated at $82,121. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235-9660 574/235-9371 ELizAeEry LEONARD <br />FAx: 574/235-9469 574/235-9371 <br />