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South Bend Redevelopment Commission <br />Regular Meeting -August 15, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />(1) continued... <br />deduction for property located at 1827 <br />North Bendix Drive in the Airport <br />Economic Development Area. (Mann + <br />Hummel USA) <br />Mr. Mathia gave the staff report on the <br />project. Mann + Hummel USA manufactures <br />various products for the automotive industry. <br />The products are made of nylon and plastic <br />and are manufactured using injection <br />molding. Mann +Hummell plans to install <br />machinery and equipment costing <br />approximately $2,000,000 which will be used <br />to manufacture manifolds and air intake <br />systems for General Motors and Toyota. <br />It is estimated that the total project will <br />create four new permanent, full-time jobs <br />within the first year, representing a new <br />annual payroll of $120,000. The project will <br />retain one hundred fifty-four existing full- <br />time jobs, of which 46 are minority <br />employees, with an annual payroll of <br />$4,500,000. <br />Mann +Hummell was granted five previous <br />tax abatements from 1991 to 2005. The <br />property is properly zoned for the proposed <br />use. The property is located in the Airport <br />Economic Development Area which is a Tax <br />Increment Financing Allocation Area; <br />therefore, the petition for personal property <br />tax deduction must first be approved by the <br />South Bend Redevelopment Commission. <br />The project qualifies for five years of <br />personal property tax deduction under the tax <br />7 <br />