07-12-10 Council Agenda & Packet

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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 seq., and South Bend Municipal Code Section 2 -84.2, et se g. 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 busimss. The McCormick South Bend Condiment Plant manufactures condiments (ketchup. mustard, salad dressing, cocktail sauces BB sauce for maior restaurant chains in the United States. A prooect is under consideration to either keep the distribution o eraton in Michi an or move the o eration to Indiana Illinois or another state where McCormick has a distribution and manufacturing site. The site consideration for Indiana is on the current manufacturing site Propem. We are considering building estimated construction manufacturing site afor the distribution operation of a 50,000 square foot addition with f $5.7 million. Included in this cost are additional manufacturing a uipment amounting to approximately $590.000 including fork lifts,coolers, racking, computers and furniture and fixtures. 2. The project will create 5 new, permanent jobs within the first year, representing a new annual payroll of $ 177L247 and will maintain 123 existing permanent full -time and 0 existing part -time jobs representing an annual payroll.of$ 6 288 998 . The projected annual salaries for each new position created are estimated to be as follows: $33 407 $ 35,322 $35J22 $3.6,598 $36.598 3. Estimate the total cost of the Equipment: $689,229,L lerfyy`7 1 7 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 Bled with the Securities and Exchange Commission): NAME ADDRESS INTEREST McCormick & Company, Inc. 18 Loveton Circle Owner, 100% Sparks, MD 21152 (Revised 812102)