Confirming Tax Abatement - Federal-Mogul Powertrain Inc. 3605 West Cleveland Road (5 Yr. Personal Property)

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