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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting –August 26, 2009 <br /> <br />6. NEW BUSINESS (CONT.) <br /> <br />A. Public Hearings <br /> <br />(3) continued… <br /> <br />There was no one else who wished to speak <br />regarding Resolution No. 2596. Ms. Jones <br />closed the Public Hearing for whatever <br />action the Commission wished to take. <br /> <br /> <br />(4) Approval of Resolution No. 2596. <br /> <br />CRN.2596 <br />Upon a motion by Mr. Downes, seconded by <br />OMMISSION APPROVED ESOLUTION O <br />DP <br />AMENDING THE EVELOPMENT LAN FOR THE <br />Mr. Varner and unanimously carried, the <br />AEDA <br />IRPORT CONOMIC EVELOPMENT REA AND <br />Commission approved Resolution No. 2596 <br />L <br />ADDING ONE OR MORE PARCELS TO THE IST OF <br />amending the Development Plan for the <br />PA <br />ARCELS TO BE CQUIRED <br />Airport Economic Development Area and <br />adding one or more parcels to the List of <br />Parcels to be Acquired. <br /> <br /> <br />B. Tax Abatements <br /> <br /> <br />(1) Resolution No. 2597 approving an <br />application for personal property tax <br />deduction for property located at 4701 <br />Nimtz Parkway in the Airport Economic <br />Development Area (Schafer Gear Works) <br /> <br />Mr. Mathia gave the staff report on the <br />project. Schafer Gear Works manufactures <br />gears and machined components to customer <br />specifications. The company has received <br />new business from three customers that <br />require the purchase of new equipment. The <br />equipment consists of three CNC lathes, one <br />CNC hobbing machine, one CNC gear <br />grinding machine, one CNC machining <br />center, two deburring machines and one <br />internal gear grinding attachment. The total <br />estimated cost of the equipment is <br />$2,800,000. <br /> 11 <br /> <br />