Confirming Tax Abatement - Triangle Machine Inc. 3702 W. Sample St. Suite 1125 (5 Yr. Personal Property)

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: KATHY HAHN SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: TRIANGLE MACHINE INC. DATE: November 30, 2012 On November 30,2012,a petition for personal property tax abatement consideration for property located at 3702 West Sample Street, Suite 1125 was filed with the City Clerk by Triangle Machine Inc. Pursuant to Chapter 2, Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. 7 : The Department of Community and Economic Development has reviewed the petition,investigated the area, and makes the following report. PROJECT SUMMARY Triangle Machine Inc. manufactures machined components for a wide variety"of industries such as aerospace, automotive, and orthpaedic. They intend to replace a sixteen year old machine with a new CNC OKUMA LATHE. The new machine will cost $87,250.