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SpUTH <br /> U C <br /> \PEACE" <br /> x x <br /> 1865 <br /> CITY OF SOUTH BEND <br /> COMMUNITY INVESTMENT <br /> October 4,2017 Filed in Clerk's Office <br /> Council Member Gavin Ferlic, Chairperson OCT �4 2017]Community Investment Committee <br /> South Bend Common Council <br /> 4th Floor, County City Building KAREEti1AH FOWLER <br /> South Bend, IN 46601 CITY CLERK,SOUTH C'END, IN <br /> RE: Personal Property Tax Abatement Petition for: Masterbilt,Incorporated <br /> Dear Council Member Ferlic: <br /> Masterbilt, Incorporated located at 325 South Walnut Street, is a family owned business that <br /> has been in South Bend since 1941. For more than 60 years, Masterbilt, has provided customers <br /> with quality precision machined parts.Their extensive experience in CNC turning and milling <br /> allows them to quickly and accurately manufacture everything from complex prototypes and <br /> preproduction parts,to long and short productions runs. Masterbilt was recently awarded a <br /> contract from a local South Bend company.As a result of this new production, 2 advanced <br /> manufacturing jobs will be added to go along with the 10 jobs that will be retained. <br /> Please find the attached information pertaining to a personal property tax abatement petition for <br /> Masterbilt,Incorporated: <br /> ➢ Department of Community Investment's summary report <br /> ➢ Copy of the petition <br /> ➢ Statement of Benefits form <br /> ➢ Supporting information. <br /> The report contains the Department's findings relative to the above petition. Masterbilt, <br /> Incorporated will be purchasing and installing approximately$575,000 of new equipment as part <br /> of their project that will allow to process new orders as well as keep up with current production. <br /> The project meets the qualifications for a(5)five year personal property tax abatement and a <br /> representative from Masterbilt,Incorporated will be available to meet with the Committee on <br /> October 9,2017. <br /> Should you or any of the other Council members have any questions concerning the report,or <br /> need additional information,please feel free to call me at 235-5823. <br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT <br /> 14005 County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov <br />