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Confirming Tax Abatement - Mack Tool & Engineering, Inc. 2820 Vridian Dr. (5 Year Personal Property)
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Confirming Tax Abatement - Mack Tool & Engineering, Inc. 2820 Vridian Dr. (5 Year Personal Property)
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11/17/2014 11:22:32 AM
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11/17/2014 11:11:44 AM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
11/10/2014
Ord-Res Number
4404-14
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227 W. JEFFERSON BOULEVARD <br />SUITE 1400 S. <br />SOUTH BEND, IN 46601 -1830 <br />CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR <br />COMMUNITY INVESTMENT <br />SCOTT FORD, EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: KATHY HAHN <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />Mack Tool & Engineering, Inc. <br />DATE: October 6, 2014 <br />PHONE: 574 /235 -9371 <br />FAX: 574/235 -9021 <br />On October 6, 2014 a petition for personal property tax abatement consideration for property located <br />at 2820 Viridian Drive, South Bend, is filed with the City Clerk by Mack Tool & Engineering, Inc. <br />Pursuant to Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this <br />petition was referred to the Department of Community Investment for purposes of investigation and <br />preparation of a report determining whether the area qualifies as an Economic Revitalization Area <br />pursuant to 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 />Mack Tool produces precision machined parts for the aerospace and medical industries. Part types <br />include: Surgical Instruments, Hydraulic and Fuel Manifolds, Actuation Cylinders and Pistons, <br />Matched Solenoid Valves, Gear Boxes, and Avionics Housings. Mack Tool relies on CNC <br />Equipment to increase the productivity of its workforce and allow it to be competitive in a global <br />market. Due to the increasing global demand for commercial airplanes, the aerospace industry is <br />projected to more than double in the next five to ten years. In order to grow and stay competitive <br />Mack Tool must continue to invest in equipment. The project cost for the new equipment for two <br />years is $1,950,000. <br />October 6, 2014 <br />Page 2 <br />South Bend Common Council <br />PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES <br />JITM KAIN PAMELA C. MEYER CHRIS FIELDING DONALD E. INKS <br />
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