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TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: KATHY HAHN <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />SCHAFER INDUSTRIES, INC. <br />DATE: November 21, 2013 <br />On November 20, 2013 a petition for personal property tax abatement consideration for property located at <br />4701 Nimtz Parkway, South Bend, is filed with the City Clerk by Schafer Industries, Inc. Pursuant to <br />Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was <br />referred to the Department of Community Investment for purposes of investigation and preparation of a <br />report determining whether the area qualifies as an Economic Revitalization Area pursuant to <br />I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. <br />The Department of Community Investment has reviewed the petition (a copy of which is attached), <br />investigated the area, and makes the following report. <br />PROJECT SUMMARY <br />The proposed project is the purchase and installation of a new CNC Gear Grinding machine, a CNC <br />Universal Cylindrical Grinder, and a 75 Ton Hydraulic Press. The project serves to increase their <br />production capacity to meet the growing demands of two of their existing customers. The equipment will <br />cost $1,400,000. <br />