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REGULAR MEETING MAY 12, 2003 <br />the Council with a favorable recommendation. <br />Mr. Tom Walz, Hahn, Walz and Knepp, 509 West Washington Street, South Bend, Indiana, made <br />the presentation for this bill. <br />Mr. Walz advised that he represents Total Enterprises and that he and Mr. Jack Long are present <br />to answer any questions the Council may have regarding this tax abatement. <br />Mr. Watz stated that Total Enterprises is going to be acquiring a 1996 Giddings & Lewis CNC <br />Horizontal Boring Machine and related equipment. The project will create conservatively two (2) <br />full time and two (2) part time new employment positions. The project will initially add an increase <br />in payroll of approximately one hundred eighty -seven thousand dollars ($187,000.00). The addition <br />of this equipment will have a ripple effect on the business operations and will hopefully add more <br />employment positions. The cost of the machine is three hundred fifty thousand dollars <br />($350,000.00). This machine adds the next generation of technology to Total Enterprises and will <br />also perpetuate its existence in South Bend. <br />Mr. Walz advised that it appears that there will be a tax abatement of approximately forty thousand <br />dollars ($40,000.00) with the total tax liability being approximately sixteen thousand dollars <br />($16,000.00). Additionally, Total Enterprises has made a firm commitment in employing minority <br />individuals in their operations and has a very solid history in doing so in all of its employment <br />practices. <br />A Public Hearing was held on the Resolution at this time. <br />There being no one present wishing to speak to the Council either in favor of or in opposition to this <br />Resolution, Councilmember Coleman made a motion to adopt this Resolution. Councilmember <br />Varner seconded the motion which carried and the Resolution was adopted by a roll call vote of eight <br />(8) ayes. <br />Mr. Watz offered his compliments to the Redevelopment Commission with whom he has had many <br />dealings. He noted that they have been very accommodating and the community is very well served <br />by the Community Development Department. <br />RESOLUTION NO. 3187 -03 A RESOLUTION OF THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND DESIGNATING CERTAIN <br />AREAS WITHIN THE CITY OF SOUTH BEND, <br />INDIANA, COMMONLY KNOWN AS 3751 OLIVE ROAD <br />AN ECONOMIC REVITALIZATION AREA FOR <br />PURPOSES OF A FIVE (5) YEAR PERSONAL <br />PROPERTY TAX ABATEMENT FOR GIBBS WIRE AND <br />STEEL COMPANY, INC. <br />WHEREAS, a petition for personal property tax abatement consideration has been filed with <br />the City Clerk for consideration by the Common Council of the City of South Bend, Indiana, <br />requesting that the area commonly known as 3751 Olive Road, South Bend, Indiana, and which is i <br />