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v. <br /> CITY OF SOUTH BE • !_.____�_.� <br /> ,‘ .�' COMM U N I TY INVESTMENT Fi led in Clerk's Office <br /> 1865 <br /> 2023 <br /> June 21, 2023 DAWN M.JONES <br /> CITY CLERK,SOUTH BEND,IN <br /> Council Member Rachel Tomas Morgan <br /> Chairperson, Community Investment Committee <br /> South Bend Common Council <br /> 4th Floor, County-City Building <br /> South Bend, Indiana 46601 <br /> RE: Confirming Resolution: Industrial Development Real Property Tax Abatement Petition for <br /> GLC Portage Prairie, LLC <br /> Dear Council Member Tomas Morgan: <br /> Please find the enclosed information pertaining to an industrial development real property tax <br /> abatement petition submitted by GLC Portage Prairie, LLC, an Indiana Limited Liability Company. <br /> This petition package includes: <br /> • Department of Community Investment's summary report <br /> • Petition for abatement <br /> • Statement of Benefits form (SB-1 /Real Property) <br /> • Supporting information <br /> The report contains the Department's findings relative to the above-mentioned petition. The <br /> petitioner is expanding the facility located at 5448 Dylan Drive, which is occupied by AM General. <br /> The building's expansion is necessary for AM General to meet the requirements of its new contract <br /> for the manufacturing of the U.S. Army's Joint Light Tactical Vehicles and trailers. <br /> AM General leases the facility from GLC Portage Prairie, LLC, through a triple-net lease, which <br /> dictates that all operating expenses, including real property taxes, are paid by AM General. <br /> Therefore, AM General will receive all of the benefits of the proposed abatement. The company <br /> plans to hire 15 new full-time employees by the end of 2024. The 167,000+square foot expansion <br /> will cost$12 million. <br /> The project meets the requirements established by Section 2-82 et seq. and would qualify for a nine- <br /> year(9) industrial development real property tax abatement. Representative from AM General and <br /> GLC Portage Prairie, LLC, will be available to meet with the Committee on Monday, June 26, 2023. <br /> If you or any of the other Council members have questions concerning the report or need additional <br /> information, please feel free to call me at(574)235-5838. <br /> Sincerely, <br /> Erik Glavich <br /> Director, Growth and Opportunity <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227 W.Jefferson Blvd. South Bend.Indiana 46601 p 574.235.9371 www.southbendin.gov <br />