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South Bend Redevelopment Commission <br /> Regular Meeting—April 10, 2012 <br /> 6. NEW BUSINESS (CONT.) <br /> A. Tax Abatement <br /> (2) continued... <br /> Street in the Airport Economic <br /> Development Area (Lock Joint Tube). <br /> Ms. Hahn noted that Lock Joint Tube, LLC, <br /> will invest between $8 and $9 million in the <br /> purchase and installation of new <br /> manufacturing, information technology, and <br /> logistical distribution equipment to expand <br /> its production capabilities at its Walnut Street <br /> facility. This equipment will increase the <br /> length, wall thickness and width of steel <br /> tubing that can be manufactured as well as <br /> enhance the coating, weld capabilities and <br /> overall quality control standards for <br /> production of finished goods. These <br /> increased capabilities will expand the types <br /> of products the Lock Joint Tube can <br /> manufacture and will expand its existing <br /> markets, plus open new markets such as <br /> automotive axles, roll-over production <br /> systems and other heavy structural <br /> applications. Total taxes to be abated during <br /> the five-year abatement period range from <br /> $285,808 to $329,933 depending upon the <br /> final amount the company will invest in the <br /> new equipment. The taxes to be paid are <br /> expected to range from $663,675 to <br /> $706,631. <br /> The real property tax abatement petition <br /> describes two investments in two projects. <br /> They are going to move and reconstruct their <br /> roof, raising approximately 60,000 sq. ft of <br /> roof from 15 ft. to 40 ft. They are also going <br /> to construct a new 30,000 sq. ft. addition for <br /> additional manufacturing, storage and <br /> 6 <br />