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South Bend Redevelopment Commission <br />Regular Meeting — September 2, 2005 <br />L6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />(1) continued... <br />Mr. Schaffer gave the staff report on the <br />project. Mann +Hummel USA, Inc. is a <br />manufacturer of air intake manifolds for the <br />auto industry. In order to continue growth, <br />new equipment is needed to accommodate <br />demand and increase productivity for Toyota, <br />BMW and Diamler. Proposed new <br />equipment will provide the South Bend <br />facility with additional capacity to <br />manufacture air intake manifolds. In <br />addition to hiring twelve (12) new <br />employees, local contractors will be used for <br />installation and start up. The total cost of the <br />project is estimated at $3 million. <br />It is estimated that this project will create <br />twelve (12) new permanent jobs within the <br />first year, representing a new annual payroll <br />of $312,000, and will maintain 130 existing <br />permanent full time jobs with an annual <br />payroll of $4,500,000. <br />The petitioner has been associated with or <br />granted four tax abatements since 1991. <br />Mann +Hummel is in compliance with all <br />reporting requirements for those abatements. <br />The property is properly zoned for the <br />proposed use. <br />The property is located in the Airport <br />Economic Development Area, which is a Tax <br />Increment Allocation Area; therefore, the <br />petition for personal property tax abatement <br />must first be approved by the South Bend <br />Redevelopment Commission. <br />L <br />4 <br />