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South Bend Redevelopment Commission <br />Regular Meeting —April 26, 2011 <br />application for real property tax deduction <br />for property located at 1710 North <br />Sheridan Street in the Airport Economic <br />Development Area. (Hoosier Tank and <br />Manufacturing) <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 />rel <br />