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South Bend Redevelopment Commission <br /> Regular Meeting—April 26, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> B. Tax Abatements <br /> (1) continued... <br /> Ms. Hahn made a combined staff report on <br /> the real and personal property tax abatements <br /> for Hoosier Tank. Hoosier Tank and <br /> Manufacturing, Inc. is a manufacturer of air <br /> pressure reservoirs for OEM truck and trailer <br /> manufactures domestically and <br /> internationally. Hoosier Tank proposes to: <br /> (a) construct a 70 x 290 foot addition (total <br /> additional area is 20,300 sq. ft.)to its existing <br /> building; and (b) install equipment for a new <br /> production line. The addition will provide <br /> new shipping docks with a turnaround access <br /> for six semitrailers, new warehouse space <br /> and a shipping area to accommodate their <br /> customers' shipping needs. The addition will <br /> free up manufacturing floor space and allow <br /> the company to add machinery for a <br /> complete third production line which will <br /> increase its production capacity by 25 <br /> percent. Hoosier Tank is requesting a seven- <br /> year abatement for the real property <br /> improvements it intends to make to the <br /> building. The cost of the construction portion <br /> of the project is estimated at $760,000. <br /> The equipment for the production line <br /> includes a dust collector, air make-up vent, <br /> new diameter tooling, leveler for shear, laser <br /> cutter, roller, leak detection system, <br /> progressive strap bracket die, forklift, <br /> washer, assembler, and an automated powder <br /> spray paint system. The estimated cost of the <br /> equipment is $1,175,000. The project's total <br /> cost is estimated at up to $1,935,000. <br /> The project will move the company's truck <br /> 6 <br />