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South Bend Common Council <br /> RE: Tax Abatement Federal- Mogul Powertrain, Inc. <br /> May 1, 2012 <br /> Page 2 <br /> 4.3L/6.2L Piston Line; 3) a LKW 2.5 L Piston Line; and 4) an aluminum bulk metal furnace. <br /> Additionally, they will install a new R & D prototype lab costing $3,462,000. The total project cost is <br /> $21,802,000. Total taxes to be abated during the (5) five-year abatement period are estimated at <br /> $215,239. Total new taxes to be paid over five years are$1,898,562. <br /> EMPLOYMENT IMPACT <br /> Per the petition,it is estimated that the total project will create twenty(20) new,permanent,full-time jobs <br /> within the first year, representing a new annual payroll of$932,000. The project will maintain 409 <br /> existing, pennanent full-time jobs representing an annual payroll of$20,503,000. <br /> ABATEMENT !QUALIFICATION <br /> I. A review of the tax abatements previously granted, finds that the petitioner has been granted or <br /> associated with 15 (fifteen) previous tax abatements: <br /> Terns/Type Resolution No. Date <br /> 5-year personal property 3641-06 07/28/2006 <br /> 5-year personal property 3397-04 10/28/2004 <br /> 5-year personal property 3232-03 08/25/2003 <br /> 5-year personal property 3086-02 04/22/2002 <br /> 3-year real property 3085-02 04/22/2002 <br /> 10-year real property 2929-00 09125//2000 <br /> 5-year personal property 2930-00 09/25/2000 <br /> 6-year real property 2686-98 10/26/1998 <br /> 5-year personal property 2685-98 10/26/1998 <br /> 5-year personal property 2174-94 09/26/1994 <br /> 5-year personal property 2057-93 07/26/1993 <br /> 10-year personal property 2056-93 07/26/1993 <br /> 5-year personal property 1864-91 04/22/1991 <br /> 5-year personal property #R07-86 05/13/1986 <br /> 10-year real property #R07-86 05/13/1986 <br />