Substitute 17-62 Designating Real Property Tax Abatement for Tri-Pac, Inc.

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STATEMENT OF BENEFITS l=ill��l ttl rlofl"'W C)fficz3 ! 2018 PAY 20 19 y3 REAL ESTATE IMPROVEMENTS C Stale Form 51707(Ra/10-14) 1 SEp cl r 2011 FORM SB-1/Real Property r Prescribed by the Department of Local Government Finance �l f V I PRIVACY NOTICE This statement is being completed for real property that qualifies under the folloWing Ind�Q a Codt3(cryeck,op rpox}: I Any Information concerning the coat 1. r of tho proporty and epedfic ealartoa Q Redevelopment or rehabilitation of real estate Improvements(IC 6-1.1-12.1 fUl 1 paid to IndlvI ual employees by the -it❑Residentially distressed area(IC 6-1.1-12.1-4.1) Y CLE}il<,St)t1(r r"',30 L_ ,111 Fropper1.1ty.12.1.5.1.ovmer Is confidential per C G- INSTRUCTIONS: 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if ilfe designating body requires Information from the applicant In malting its decision about whether to designate an Economic Revitalization Area. Otherwise,this statement must be submitted to the designating body BEFORE the redevelopment or rehabilitation of reel property for which the person wishes to claim a deduction. 2. Tire statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before tike initiation of the redevelopment orrehabll/tation for which the person desires to claim e deduction. 3. To obtain a deduction,a Form 3221RE must be filed with the County Auditor before May 10 In the year in which the addition to assessed valuatlon Is made or not later then thirty(30)days after the assessment notice Is malted to the property owner ifit Ives mailed afterApril 10. A property owner who felled to file a deduction application within file prescribed deadline may file an application between March 1 and May 10 of e subsequent year. 4. A property owner who files for the deduction must provide file CountyAudltor and designating body with a Form CF-1/Real Property. The Form CF-1/Real Property should be attached to the Form 3221RE when the deduction is first claimed and then updated annually for each year the deduction Is applicable. IC 6-1.1-12.1-5.1(b) 5. For a Form SB-1/Real Property that is approved after June 30, 2013, the designating body Is required to establish an abatement schedule for each deduction allowed. For a Form SB-1/Real Property that Is approved prior to July 1, 2013, the abatement schedule approved by the designating body remains In effect iC 6-1,1-12.1-17 SECTION TAXPAYER INFORMATION Name of taxpayer Tri-Pac, Inc. Address of taxpayer(number and street,city,state,and ZiPcode) 3333 N Kenmore St, South Bend, IN 46628 Name of contact person Telephone number E-mall address Vikram Shah, President ( 269 ) 476-2303 vikram.shah tri- ac.us SECTION LOCATION AND . Name of designating body Resolution number South Bend City Council Location of property County DLGF taxing district number 3333 N Kenmore St, South Bend, IN 46628 St Joseph 009/003 Description of real property Improvements,redevelopment,or rehabilitation(use additional sheets Itnecessary) Estimated start date(month,day,year] Building purchase with planned upgrades to onsite infrastructure and modifications to R&D lab/equipment 11/15/2017 Estimated completion date(month,day,yea) 12/31/2019 Current number Salaries Number retained Salaries Numberaddilional Salaries 7.00 $495,000.00 7.00 $748,800.00 20.00 $748,800.00 REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE Current values Plus estimated values of proposed project 1,000,000 00 1.000,000.00 Less values of any property being replaced Net estimated values upon com lelion of roact 1,000,000 co 1,000,000.00 • • • . • Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) Other benefits SECTION I hereby certify that the representations in this statement are true. Signature of authorize 7epresentative Date signed(monfh,day,year) September 21, 2017 Printed name of-authorized representative Title Vikram Shah President Page 1 of 2 I I