07-26-10 Council Agenda & Packet

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r r i CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION I The undersigned owner(s) of new manufacturing equipment, 8 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 and South Bend Municipal Code Section 184.2, et sea.. 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 business. The McCormick South Bend Condiment Plant manufactures condiments ketchu mustard salad dressing, cocktail sju_cess BBO sauce for ma'or restaurant chains in the United States. Aj2rooectis under consideration to either kee the distribution a eraton in Michigan or move the operation to Indiana Illinois or another state where McCormick has a distribution and manufacturin site. The site consideration for Indiana is on the current manufacturin site eropgM, We are considering buildin onto the manufacturinLy site for the distribution operation of a 50 OUD square foot addition with an estimated construction cost of 5.7 million. Included in this cost are additional manufartilrina 2. The project will create �5 new, permanent jobs within the first year, representing a new annual payroll of 177,247 and will maintain 123 existing permanent full -time and � existing part -time jobs representing an annual payroll.of $ 60288,998 _. The projected annual salaries for each new position created are estimated to be as follows: ....$332107 $153322 $35 322 $36,528 $36,598 3. Estimate the total cost of the Equipment: $689,229+- l�yr r p7f 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 Marne under which the corporation has filed with the Securities and Exchange Commission): NAME ADDRESS INTEREST McCormick & Company, Inc. I8 Loveton Circle Owner, 100% Sparks, MD 21152 (Revised 8 /2/02)