Confirming Tax Abatement - Schafer Industries Inc. 4701 Nimtz Parkway (5 Yr. Real Property)

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227 W. JEFFERSON BOULEVARD SUITF 1400 S. SOUTH BEND, IN 46601 -1830 CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR COMMUNITY INVESTMENT SCOTT FORD, EXECUTIVE DIRECTOR PHONE: 574/235 -9371 FAX: 574/235 -9021 Council Member Gavin Ferlic, Chairperson November 21, 2013 Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Personal Property Tax Abatement Petition for: Schafer Industries, Inc. Dear Council Member Ferlic: Please find attached the Department of Community Investment's report on a personal property tax abatement petition for the above - referenced petitioner. Also attached is a copy of the petition, Statement of Benefits form, and supporting information. The project calls for the acquisition and installation of new equipment as part of the company's planned increase in productive capacity in its facility located at 4701 Nimtz Parkway. The report contains the Department's findings relative to the above petition. Schafer Industries, Inc. will be purchasing and installing new equipment. The total project cost for the equipment is estimated at $1,400,000. The project meets the qualifications for a (5) five -year personal property tax abatement and a representative from Schafer Industries, Inc. will be available to meet with the Committee on Monday, December 9, 2013. Should you or any of the other Council members have any questions concerning the report, or need additional information, please feel free to call me at 235 -9339. Sing y l e Brock k eebb Director Economic Resources Attachments cc: South Bend Common Council Members Mayor Pete Buttigieg Aladean DeRose Scott Ford Chris Fielding ASSISTANT EXECUTNE DIRECTOR PIANNING NEIGHBORHOOD ENGAGEMENT ECONOMIC RFSOURCES CHRIS FIELDING JITIN KAIN PAMELA C. MEYER BROCK ZEEB