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South Bend Redevelopment Commission <br />Regular Meeting— December 7, 2001 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements (Continued...) <br />(1) Continued... <br />Mr. Beitzinger introduced Mr. Stan Blenke and <br />Mr. Bipin Doshi from Schafer Gear Works. <br />Mr. Doshi thanked the Commission for their <br />consideration of the tax abatement. He <br />expressed their excitement and confidence about <br />the project. He also offered to answer any <br />questions the Commission may have had. <br />Upon a motion by Mr. Caldwell, seconded by <br />Mr. Kahn and unanimously carried, the <br />Commission approved Resolution No. 1854 <br />approving an application for personal property <br />tax deduction for property located at 4701 <br />Nimtz Parkway in the Airport Economic <br />Development Area. (Schafer Gear) <br />(2) Commission approval requested for <br />Resolution No. 1855 approving an <br />application for personal property tax <br />abatement for property located at 400 West <br />Sample Street in the Sample -Ewing <br />Development Area. (AQM Products, Inc.) <br />Mr. Beitzinger gave the staff report on the <br />project. AQM Products, Inc., is a startup <br />manufacturing company which will specialize in <br />close tolerance manufactured metal products. <br />AQM is in the process of acquiring the assets of <br />the former A- Quality Machine Products, Inc., <br />which was located at 56790 Magnetic Drive, <br />Mishawaka, Indiana. The equipment to be <br />acquired includes numerous CNC machines, <br />presses, grinders, lathes, saws, and related <br />support and inspection equipment. The total <br />cost of the equipment is $500,000. <br />COMMISSION APPROVED RESOLUTION NO. <br />1854 APPROVING AN APPLICATION FOR <br />PERSONAL PROPERTY TAX DEDUCTION FOR <br />PROPERTY LOCATED AT 4701 NIMTz <br />PARKWAY IN THE AIRPORT ECONOMIC <br />DEVELOPMENT AREA. (SCHAFER GEAR) <br />