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South Bend Redevelopment Commission <br />Regular Meeting —July 2, 2004 <br />ILI 6. NEW BUSINESS (CONT.) <br />A. Public Hearing <br />(2) continued... <br />Upon a motion by Mr. Hunt, seconded <br />by Mr. Blake and unanimously carried, <br />the Commission approved Resolution <br />No. 2064. <br />B. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 2067 approving an <br />application for personal property tax <br />deduction for property located at <br />1137 S. Lafayette Blvd. in the Sample - <br />Ewing Development Area. (Exacto, <br />Inc.) <br />Mr. O'Brien gave the staff report on the <br />project. The petitioner is a precision <br />machine shop which manufactures <br />machined parts and components for <br />diesel engine fuel injector systems, <br />turbochargers and air compressors for <br />trucks. The new equipment creates <br />additional machine capacity that will <br />allow the petitioner to meet increased <br />customer demands. It is estimated that <br />the total cost of the new equipment will <br />be $600,000. <br />Per the petition, this project will create 8 <br />new, permanent jobs within the first <br />year, representing a new annual payroll <br />of $183,040 and will help maintain 78 <br />existing permanent full -time jobs <br />representing an annual payroll of <br />$1,898,000. <br />c, <br />COMMISSION APPROVEDRESOLUTIONNo. 2064 <br />