Confirming Tax Abatement - 2629 Foundation Drive - Value Production, Inc.

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1200 COUNTY-C1TY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PHONE 574/235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY ~ ECONOMIC DEVELOPMENT October 17, 2006 SHARON T. KENDALL EXECUTIVE DIRECTOR Council Member Roland Kelly, Chairperson Community & Economic Development Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Personal Property Tax Abatement Petition for: Value Production, Inc. Dear Council Member Kelly: Please find attached the Department of Community & Economic Development's report on a personal property tax abatement petition for the above-referenced petitioner. Also attached is a copy of the petition, Statement of Benefits form, and supporting information. The project calls for the acquisition and installation of new equipment as part of the company's planned increase in productive capacity in its facility located at 2629 Foundation Drive. The report contains the Department's findings relative to the above petition. Value Production will be purchasing and installing new equipment. The total project cost for the equipment is estimated at $500,000. The project meets the qualifications fora (5) five-year personal property tax abatement and a representative from Value Production will be available to meet with the Committee on Monday, November 13, 2006. Should you or any of the other Council members have any questions concerning the report, or need additional information, please feel free to call me at 235-5825. Sincerely, Sharon Terrell Economic Development Attachments cc: South Bend Common Council Members Mayor Stephen Luecke Sharon Kendall Don Inks Bill Schalliol COMMUNITY DEVELOPMENT' ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT 574/235-9660 5741235-9371 ELIZABETH LEONARD PAX: 574/235-9697 574/235-9371