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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -August 25, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />() continued... <br />Avenue in the South Bend Central <br />Development Area. (Niles/Washington LP <br />for the benefit of AM General) <br />Mr. Schalliol gave the staff report on the <br />project. The Niles/Washington LP is the <br />partnership of Holladay Corporation which <br />owns the building at Niles and Washington <br />which houses AM General's corporate <br />headquarters. AM General is a major <br />supplier to the U.S. military of personnel <br />vehicles and a builder of sport utility vehicles <br />for General Motors. The company plans to <br />construct a 17,500 sft addition and make <br />improvements to the existing 35,000 sft <br />building. The construction of the new <br />addition and improvements to the existing <br />office building will allow AM General to <br />remain in South Bend with space to grow as <br />the market dictates. The estimated cost of <br />the addition is $2,009,000 with <br />improvements to the existing building of <br />approximately $500,000. <br />The project will create an estimated eleven <br />new permanent, full-time jobs representing a <br />new annual payroll of $800,000. The project <br />will also maintain one hundred four existing <br />permanent, full-time jobs and one part-time <br />job representing an annual payroll of <br />$9,800,000. <br />Niles/Washington LP has not received any <br />previous tax abatements. The property is <br />properly zoned for the proposed project. The <br />property is located in the South Bend Central <br />62 <br />