SOUTH BEND, Ind. (AP) — The South Bend Common Council has given preliminary approval to a $934,000 tax abatement for a portion of the former Studebaker assembly plant south of downtown.

Union Station Technology Center owner Kevin Smith plans to spend $14.5 million to renovate a 220,000-square-foot section of the building where the last car was made in 1963. The project is just one part of a larger plan to redevelop the sprawling building.

The South Bend Tribune reports the city’s Department of Community Investment estimates the project will generate about $3.2 million in new taxes over 10 years. The project is expected to create a minimum of 22 new jobs over 10 years.

The council will consider final approval of the abatement at its next meeting in December.