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TAX ABATEMENT REPOR T <br /> TO: South Bend Common Council <br /> FROM: Angelina Billo <br /> SUBJECT: Real Property Tax Abatement Petition For: <br /> Hopkins Properties of South Bend,LLC (an affiliate of Truck Centers, Inc.) <br /> DATE: April 1,2019 <br /> On March 27,2019,a petition for real property tax abatement consideration for property located at 4373 <br /> Ameritech Drive, South Bend, IN was filed with the City Clerk by Hopkins Properties of South Bend, <br /> LLC. Pursuant to Chapter 2,Article 6,Section 2-84.2 of the Municipal Code of the City of South Bend, <br /> this petition was referred to the Department of Community Investment for purposes of investigation and <br /> preparation of a report determining whether the area qualifies as an Economic Revitalization Area <br /> pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. <br /> The Department of Community Investment has reviewed the petition,investigated the area,and makes the <br /> following report. <br /> PROJECT SUMMARY <br /> • Hopkins Properties of South Bend,LLC(an affiliate of Truck Centers,Inc.("TCI")is proposing to <br /> invest more than$16,000,000 in the acquisition and construction of approximately 100,000 sq.ft. <br /> dealership facility to support Truck Centers' strategic growth plan and to enhance its ability to <br /> serve customers. <br /> • The new facility would allow Truck Centers to offer a premier service center in Northern Indiana <br /> and increase its support for the on-highway and vocational truck markets as well as providing <br /> additional support for the RV manufacturing industry. <br /> • Total project cost including new machinery and equipment is approximately$18,000,000. <br /> • Petitioner is qualified for a seven-year real property tax abatement. <br /> • The estimated amount of taxes phased-in for the seven-year abatement is$1,945,291. Estimated <br /> paid taxes paid for the seven-year term are $788,279. Current annual taxes for vacant land are <br /> under$7,000. <br /> Truck Centers,Inc.,based in Troy,IL and established in 1970,is a family-owned dealer group providing a <br /> full array of products and service to the heavy truck industry including truck sales, parts, service, body <br /> shop and training.Its network now consists of ten full-service dealerships and two satellite locations in the <br /> St.Louis metro area,Illinois and Indiana representing Freightliner,Western Star,Ottawa,Fuso,Sprinter <br />