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South Bend Redevelopment Commission <br />Regular Meeting - July 15, 1994 <br />6. NEW BUSINESS (Cont.) <br />d. continued... <br />Drive in the Airport Economic Development <br />Area. (James and Linda Teske dba: Apollo <br />Precision Machining, Inc.) <br />Mr. Beitzinger read the staff report on the <br />real and personal property tax abatements <br />for Apollo Precision Machining. Apollo is a <br />manufacturing machine shop. They <br />manufacture parts from steel, brass, <br />aluminum, plastic and nylon for the <br />agricultural, dairy and flexible assembly <br />industries, as well as supplying gauging <br />components for the pattern industry. Apollo <br />is capable of a broad range of CNC turning, <br />CNC milling, drilling, tapping, honing and <br />manufacturing parts from bar stock, <br />castings, weldments and burnouts. This <br />project calls for the construction of a 10,000 <br />square foot building in the Toll Road <br />Industrial Park. <br />The estimated project cost is $250,000 to <br />construct the building and $250,000 for new <br />equipment. The project is essential to <br />continue the growth of the business. The <br />project will create an estimated six <br />permanent, new jobs within the first year, <br />representing an annual payroll of $150,000. <br />The project will also maintain twelve full- <br />time jobs representing an annual payroll of <br />$250,000. <br />Apollo Precision Machining has not been <br />granted any previous tax abatement <br />consideration. The property is properly <br />zoned for the proposed use. The property is <br />-12- <br />