Confirming Tax Abatement - Exacto, Inc. of South Bend 1137 S. LaFayette Blvd. (5 Year Personal Property)

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1200Cou - CITYBUILDING 227 W. JEFFERSON BOULEVARD SOuTN BEND, INDIANA 46601 -1830 July 6, 2004 PHONE 574/ 235-9371 FAx 574/235 -9021 TDD 574/ 235 -5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY & ECONOMIC DEVELOPMENT SHARON T. KENDALL EXEC7r1VE DIRECTOR Council Member Roland Kelly, Chairperson Community & Economic Development Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Personal Property Tax Abatement Petition for: Exacto, Inc. of South Bend 1137 South Lafayette Blvd. Dear Council Member Kelly: Please find attached the Department of Community & Economic Development's report on a personal property tax abatement petition for the above referenced petitioner for new manufacturing equipment to be located at 1137 South Lafayette Blvd., South Bend, Indiana. Also attached is a copy of the petition, Statement of Benefits form and supporting information. The report contains the Department's findings relative to the above petition. The petitioner, Exacto, Inc. of South Bend, proposes to purchase manufacturing equipment to increase production capacity to meet increased customer demand. The total cost is estimated to be $600,000. Exacto meets the qualifications for a five (5) year tax abatement. A representative of Exacto will be available to meet with the Committee on Monday, July 12, 2004. Should you or any of the other Council members have questions concerning the report or need additional information, please feel free to call me at 235 -5828. Sincerely, E . Terry J. 'Brien Economic Development Specialist Attachments c: South Bend Common Council Members Mayor Stephen Luecke Filed In Clerk's office n r, YV„- CITY CLERK, SO-BEND,' N• COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT 574/235 -9660 574/235 -9371 ELIZABETH LEONARD FAx: 574/235 -9697 574/235 -9371