Confirming Tax abatement - 1400 West Riverside Drive - Steel Warehouse Company, LLC

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CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned 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 seg•, and South Bend Municipal Code Section 2-84.2, et se .for this petition states the following: 1. Describe the proposed project, including information about the new manufacturing equipment personal property ("equipment") 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. Petitioner plans to acquire and install releveling equipment, as part of the project to condition armor plate steel, in preparation for burning parts, either by Petitioner or by third parties. The process will involve the use of Petitioner's temper mill to level special alloy steel, having subcontractors heat treat the steel, and then returning the steel to Petitioner for releveling. These processes will allow Petitioner, or third party processors to whom Petitioner will distribute the steel, to produce parts for customers needing armor plate processed to highly demanding tolerances. 2. The project will create 3-12 new, permanent jobs within the first year, representing a new annual payroll of $93,600-$374,400 and will maintain at least four existing permanent full-time and existing part-time jobs representing an annual payroll of $124,800. The projected annual salaries for each new position created are estimated to be as follows: Leveler operator -- $31,200 per year. This does not include performance incentives and benefits such as 401k, paid holiday and vacations, and health insurance. 3 . Estimate the total cost of the Equipment: $2,100, 000-$3, 000, 000 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 filed with the Securities and Exchange Commission): NAME Steel Warehouse Company LLC ADDRESS INTEREST 2722 W. Tucker Drive SB, IN 1 DD% (Revised 8/2/02)