Laserfiche WebLink
1200 COUNTY -Crfy BUILDING <br />227 W JEFFERSON BOULEVARD <br />SouTH BEND, INDmA 46601 -1830 <br />PHONE 5741235 -9371 <br />FAX 5741 23 5 -902 1 <br />TDD 5741235 -5567 <br />CITY of SouTH BENb STEPHEN J. LUECKE, MAYOR <br />COMMUNITY & ECONOMIC DEVELOPMENT <br />JEFFREY V. GmNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: BOB MATHIA <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />MC CORMICK AND COMPANY, INC. <br />DATE: July 2, 2010 <br />On July 2, 2010, a revised petition for personal property tax abatement consideration for property <br />located at 3425 West Lathrop Drive was filed with the City Clerk by McCormick and Company, <br />Incorporated. The original petition was submitted on May 11, 2010. Pursuant to Chapter 2, Article <br />6, Section 2 -82 of the Municipal Code of the City of South Bend, this petition was referred to the <br />Department of Community and Economic Development for purposes of investigation and <br />preparation of a report determining whether the area qualifies as an Economic Revitalization Area <br />pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition, investigated <br />the area, and makes the following report, <br />PROJECT SUMMARY <br />McCormick and Company is proposing to construct and equip an approximate 50,000 square foot <br />addition to their manufacturing facility. The addition will house a distribution operation for the <br />products the company makes. The company's products include condiments (ketchup, mustard, salad <br />dressing, etc.) for major restaurant chains. The company is weighing where to locate the proposed <br />addition. Sites in Michigan, Illinois and other states where McCormick has <br />manufacturing /distribution facilities are also being considered. The equipment to be purchased <br />includes fork lifts, coolers, racking, computers, and furniture and fixtures. The estimated cost of the <br />equipment is $875,173. <br />The addition's construction is estimated to cost $5,010,913. A real property tax abatement <br />application is being submitted as part of the total project. The total project cost is estimated to be <br />$5,886,086. <br />COMMUNITY DEVELOPMENT ECONOMIC DEvFLoPMENT FINANCIAL & PROGRAM <br />PAAIELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235 -9660 5741235 -9371 ELIZABETH LEONARD <br />FAX! 574/235 -9697 5741235 -9371 <br />