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CITY OF SOUTH BEND OFFICE OF THE CLERK
<br /> Dan Buckenmeyer stated, You might recall, we did an abatement for Greysteel back in the
<br /> February, March time frame, which was just a few doors down. So, this is the second (2nd) long
<br /> vacant industrial building that's been reactivated on Sample Street.
<br /> Committeemember John Voorde asked, Which one was that? Do you remember?
<br /> Mr. Buckenmeyer replied, Thirty-nine(39). Twenty-ninth (29th).
<br /> Committeemember John Voorde replied, Yeah, most of those buildings along there, I think were
<br /> mostly Studebaker support businesses at one time, but how many people are employed in Wood
<br /> Dale, Illinois?
<br /> Mr. Capsaskis replied, So, employees would be six (6), and then upper management positions
<br /> would be four(4). So, we're going to try to retain as many as possible on the move,but obviously,
<br /> it is a two and a half hour(2 1/2)hour difference. So, people leaving their families and what not. I
<br /> love it here. We do a lot of business here, and I'm always traveling here. So, I love the City, and
<br /> I've seen it transform over the last few years.
<br /> Committee Chair Gavin Ferlic asked if there was anyone from the public wishing to speak either
<br /> in favor of or against Bill No. 19-61. Seeing none, Committee Chair Gavin Ferlic stated,the public
<br /> portion of this meeting is now closed. Again, we do not have a quorum. All bills will go forward,
<br /> but we cannot provide a recommendation at this time.
<br /> Bill No. 19-63- Designating Personal Property Tax Abatement for Kruger Plastic Products,
<br /> LLC dba Springboard Manufacturing
<br /> Dan Buckenmeyer, Director of Business Development for the City of South Bend Community
<br /> Investment Department,with offices on the 14th floor of the County-City building stated,This one
<br /> is exciting as it brings a few different locations of a Michigan company to consolidate here in
<br /> South Bend. This is not a real property tax abatement.They're leasing the space that they are going
<br /> into. It is a personal property tax abatement. So, it's an abatement on capital equipment that is
<br /> being purchased, about 4 million dollars of that. One hundred-twenty (120) new jobs will be
<br /> retained or created here in town. They serve some markets where it makes it convenient for us and
<br /> for them. Five (5) years is the norm for a personal tax abatement. In this case, we estimate that
<br /> about $173,000 or $174,000 dollars will be saved allowing them to reinvest and create more of
<br /> those jobs and so on. The taxes paid over that term will be about forty thousand($40,000)dollars.
<br /> So,we have a few representatives,including the CEO of the parent company,Mr. Doug Constable.
<br /> So, I'll let him say a few words.
<br /> Mr. Doug Constable,2935 Windsor Road,Winston Salem,North Carolina, stated,First(1St)of all,
<br /> thank you for your time today. We are excited about this move. We recently acquired, about two
<br /> (2)years ago,a company called Kruger Plastics Products based in Bridgeman,Michigan with three
<br /> (3) locations that are very disjointed, outdated and very inefficient. We put them as part of our
<br /> bigger company which operates under the name of Springboard Manufacturing. So,if you see that
<br /> name, that's just a DBA that we use for this. We have a total of about two hundred-fifty (250)
<br /> employees in the country right now. All of our manufacturing is made in the USA, and we're
<br /> determined to keep it that way as much as we possibly can. This particular phase will instantly,
<br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION EMPOWERMENT
<br /> 455 County-City Building 227W.Jefferson Bvld South Bend.Indiana 46601 p 574.235.9221 f 574.235.9173 I 10574.235.5567 www.southbendin.gov
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