Confirming Tax Abatement - 3722 Foundation Court - Imagineering Enterprises, Inc.

Home Browse Search

CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT. CONSIDERATION The uadersigned owner{s) of new .manufacturing equipment, personal property, located within the City of South Bend, hereby petitions the Common Council of the City of South Bend for personal property (new manufacturing equipment) tax abatement consideration and pursuant to I.C., 6-1.1-12.1, et se .and South Bend Municipal. Code Section 2-$4.2, et seQ•, for this petition states the following: 1. Describe the proposed project, including information about the new manufacturing equipment personal property {Aequipment@) to be installed, the amount of land to be used, if any, the proposed use of the equipment, and a general statement as to the value of the project to your business. Acquisition of a 59 000 sg. ft. building and purchase of new equipment to be erected at 3722 Foundation Ct. South Bend, IN. St Joseph County. The estimated cost of the project is 5.1 million. It will be the processing facility and off ce of our operation in South Bend. 2. The project will create 6 new, permanent jobs within the first year, representing a new annual payroll of $ 190,000 and will maintain 69 existing permanent full-time and ~_ ezisting part time jobs representing an annual payroll of $2,687,73s .The projected annual salaries for each new position created are estimated to be as follows: Four (4) production technicians at $30,000 each One (1) quality technician at $40,000 ne customer service representative at 30,000 3. Estimate the total cost of the Equipment: 3.5 million 4. (a) The Equipment is owned or to be owned by the following individuals or corporations (if the business organization is publicly= held, indicate also the name of the corporate parent, if any, and the name under which the corporation has fled with the Securities and Exchange Commission): NAME ADDRESS INTEREST Ima~ineering Enterprises, Inc. 100 1302 W. Sample St. South Bend, IN. 46619 (Revised 8/2/02)