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

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: KATHY HAHN SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: SCHAFER INDUSTRIES, INC. DATE: November 21, 2013 On November 20, 2013 a petition for personal property tax abatement consideration for property located at 4701 Nimtz Parkway, South Bend, is filed with the City Clerk by Schafer Industries, 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 Investment 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. The Department of Community Investment has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT SUMMARY The proposed project is the purchase and installation of a new CNC Gear Grinding machine, a CNC Universal Cylindrical Grinder, and a 75 Ton Hydraulic Press. The project serves to increase their production capacity to meet the growing demands of two of their existing customers. The equipment will cost $1,400,000.