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1200 CouNrY -Cm BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601 -1530 <br />PHONE 574 /235 -9371 <br />Fax 574/235 -9021 <br />TDD 574/ 235 -5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY & ECONOMIC DEVELOPMENT <br />SHARON T. KENDALL <br />ExECUT1VE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: TERRY J. O'BRIEN <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />Exacto, Inc. of South Bend <br />1137 South Lafayette Blvd. <br />DATE: July 6, 2004 <br />On July 6, 2004, a petition for personal property tax abatement consideration for property <br />located at 1137 South Lafayette Blvd. was filed with the City Clerk by Exacto, Inc. of South <br />Bend. Pursuant to Chapter 2, Article 6, Section 2 -77 of the Municipal Code of the City of South <br />Bend, this petition was referred to the Department of Community and Economic Development <br />for purposes of investigation and preparation of a report determining whether the area qualifies <br />as an Economic Revitalization Area pursuant to I.C. 6 -1.1 -12.1 and whether all zoning <br />requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition (a <br />copy of which is attached), investigated the area and makes the following report. <br />PROJECT SUMMARY <br />The petitioner is a precision machine shop which manufactures machined parts and <br />components for diesel engine fuel injector systems, turbochargers and air compressors for trucks. <br />The new equipment creates additional machine capacity that will allow the petitioner to meet <br />increased customer demand. It is estimated that the total cost of the new equipment will be <br />$600,000. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM <br />PAMELA C. MEYER DONALN E. INKS MANAGEMENT <br />574/235 -9660 574/235 -9371 ELIZABETH LEONARD <br />FAx: 574/235 -9697 574/235 -9371 <br />