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South Bend Redevelopment Commission <br />Regular Meeting - November 15, 1996 <br />3. APPROVAL OF CLAIMS (Cont.) <br />Upon a motion by Mr. Faccenda, seconded by <br />Mr. Donoho and unanimously carried, the <br />Commission approved the Claims submitted <br />November 15, 1996 and ordered the checks to <br />be released. <br />4. COMMUNICATIONS <br />There were no Communications. <br />5. OLD BUSINESS <br />There was no Old Business. <br />6. NEW BUSINESS <br />a. Commission approval requested for <br />Resolution No. 1475 approving an <br />application for personal property tax <br />deduction for property located at 1137 <br />S. Lafayette. ( Exacto, Inc.) <br />Mike Beitzinger gave the staff report. <br />Exacto, Inc. is a precision machine shop <br />manufacturing precision machined parts <br />and components to customer <br />specifications. The Exacto, Inc. project <br />calls for the purchase and installation of <br />two new Miyano Model LZ -01 Automatic <br />CNC Turning Centers, two new Okamoto <br />Model 1 GM ID Grinding Machines, one <br />refurbished Miyano BNC -34 -T 2 axis CNC <br />Turning Center, one Lapping Machine, an <br />Optical Comparator, a Roundness Tester, <br />designated gages and an upgraded CAD - <br />Computer system. Exacto, Inc. expects to <br />purchase the equipment in three phases <br />over the next two years. The total cost of <br />the project is estimated at $863,000. <br />H:\ HOME \CPH PPS \WPDATA \COMMSN\111596.MIN -3- <br />COMMISSION APPROVED THE CLAIMS SUBMITTED <br />NOVEMBER 15, 1996 AND ORDERED THE CHECKS TO <br />BE RELEASED <br />THERE WERE NO COMMUNICATIONS <br />THERE WAS NO OLD BUSINESS <br />