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1200 Cowry-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601 -1830 <br />PHONE 5741235 -9371 <br />FAx 5741235 -9021 <br />TDD 5741235 -5567 <br />CITY or- SouTH BEND STEPHEN J. L.uECKE, MAYOR <br />COMMUNITY & .ECONOMIC DEVELOPMENT <br />JEFFREY V. GISNEY <br />ExEcmvE DIRECTOR <br />July 2, 2010 <br />Council Member Timothy Rouse, Chairperson <br />Community & Economic Development Committee <br />South Bend Common Council <br />4th Floor, County City Building <br />South Bend, IN 46601 <br />RE: Commercial Real Property & Personal Property Tax Abatement Petitions for: <br />MC CORMICK AND COMPANY, INC. (Bill Nos. 10 -28 & I0-29) <br />Dear Council Member Rouse: <br />Consideration of the Designating Resolutions for the subject petitions was scheduled for Monday, <br />Junel4, 2010. However, prior to that meeting the Petitioner requested additional time to review <br />their petitions and reconsider some of the projections related to their project that they made. <br />Consideration of the Designating Resolutions was continued indefinitely until further notice <br />would be received from McCormick. The company has completed its review and submitted <br />revised petitions. <br />The only change made on both petitions is the number of employees to be retained was reduced <br />from 125 to 123. However, the total annual wages increased from $5,802,988 to $6,288,998. <br />The size of the project has not changed and the total estimated costs for the construction and for <br />the equipment portions of the project have remained unchanged. In addition, because the <br />Petitioner is still in the early stages of its planning process it does not have a firm list of <br />construction contractors, subcontractors and suppliers. Therefore, a range of public benefit points <br />and years was estimated for the length of the company's real property tax abatement term. The <br />estimated points and the range of years have not changed. Finally, neither the estimated taxes to <br />be paid nor the estimated taxes to be abated have changed for either petition. <br />A copy of the revised petitions and updated versions of my staff reports are attached for the two <br />tax abatements. A representative of the Petitioner will be available to meet with the Council's <br />Community and Economic Development Committee at its afternoon meeting on Monday, July 12, <br />2010 and with the full Council at its public meeting on that same date. <br />COMMUNITY DEVLI.OP14 ew ECONOMIC DEVELOPMENT FINANCLu & PROGRAM <br />PAMELA C. MI( YEA DONALD E. INKS . MANAGEMENT <br />574/235 -9660 5741235.9371 ELiZASETIq LEONARD <br />FAX: 574/235,9697 5741235 -9371 <br />