Confirming Tax Abatement - 4701 Nimtz Parkway - Schafer Gear Works, Inc

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y 1200 COL7NTY-CI'CY BUILDING 227 W. JEFFERSON BOULEVARD SOUGH BEND, INDIANA 46601-1830 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY SL ECONOMIC DEVELOPMENT January 15, 2007 ,JEFFREY V. GIBNEY EXECUTIVE 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: SCHAFER GEAR WORKS, INC. 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. Also attached is a copy of the petition, Statement of Benefits form, and supporting information. The project calls for the acquisition and installation of new equipment as part of the company's planned increase in productive capacity in its facility located at 4701 Nimtz Parkway. The report contains the Department's findings relative to the above petition. Schafer Gear Works will be purchasing and installing new equipment. The total project cost for the equipment is estimated at $843,000. The project meets the qualifications fora (5) five-year personal property tax abatement and a representative from Schafer Gear Works will be available to meet with the Committee on Monday, February 12, 2007. Should you or any of the other Council members have any questions concerning the report, or need additional information, please feel free to call me at 235-5825. Sincerely, PxoNE574/235-9371 FAx 574!235-9021 TDD 574/ 235-5567 l~pJ ~JtJ~ Sharon Terrell Economic Development Attachments cc: South Bend Common Council Members Mayor Stephen Luecke Jeff Gibney Don Inks Bill Schalliol COMMUNITY DEVELOPMENT PAMELA C. MEYER 574/235-9660 FAX: 574/235-9697 ECONOMIC DEVELOPMENT DONALD E. INKS 574/235-9371 FINANCIAL LL PROGRAM MANAGEMENT ELIZABETH LEONARD 574/235-9371