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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULL•VARD <br />SOUTH BEND,INDIANA 46601-1830 <br />PHONE 574/ 235-9371 <br />FAx 574/235-)021 <br />TDD 574/ 235-5567 <br />CITY' OF SOUTH BEND STEPHEN J. LUECKE, iVIAYOR <br />COMMUNITY ~ ECONOMIC DEVELOPMENT <br />JEFFREY V. GIE3NEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: BOB MATHIA <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />TRIANGLE MACHINE, INC. <br />DATE: March 4, 2008 <br />On March 3, 2008, a petition for personal property tax abatement consideration for property located at <br />3702 West Sample Street, Suite 1125 was filed with the City Clerk by Triangle Machine, Inc. Pursuant to <br />Chapter 2, Article 6, Section ~-84.2 of the Municipal Code of the City of South Bend, this petition was <br />referred to the Department of Community and Economic Development 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 and Economic Development has reviewed the petition (a copy of which is <br />attached), investigated the area,-and makes the following report. <br />PROJECT SUMMARY <br />Triangle Machine, Inc. is a manufacturer of precision machined components. The company plans to <br />purchase and install new equipment (one Haas VF-l CNC Milling Center) that will give it the ability to <br />complete work in-house that is currently outsourced to other firms and at the same time increase its <br />productive capacity. .. <br />The project will invest $75,586. Total taxes to be abated during the five-year (5) abatement period are <br />estimated at $4,636. Total taxes to be maid during the five-year (5) abatement period are estimated at <br />$2,413. <br />COMMUNITY DEVELOPMENT' ECONOMIC DEVELOPMENT FINANCIAL ~C PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235-9660 574/235-9371 ELIZABETH LEONARD <br />FAX: 574!235-9697 ~ ~ 574/235-93'1 <br />