07-26-10 Council Agenda & Packet

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CITY OF SOUTH BEND PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for real property tax abatement consideration and pursuant to I.-C. 6 -1 .1- 12.1 -1, et sea.. and South Bend Municipal Code Sec. 2 -76 et sea., for this petition states the following; Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the proposed use of the improvements, and a general statement as to the importance of the project to your business: A project is under consideration to either keep the distribution operation in Michigan or move the operation 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 proyerty. We are considering building onto the manufacturing site for the distribution operation of a 50,000 s uare foot addition with an estimated construction cost of S.7 million. included in this cost are additional manufacturing eguip„ment amounting to aooroximately S69d 000fii ;r including fork lifts coolers rackln ' computers and furniture and fixtures h d' ,�r'T rj, a, ° ,6 r�7e, l3r, Land Size 8.3 acres; Building Size 57,000 current+ 50 000 s .ft addition. 2. Describe the overall nature of the business and of the operations occurring at the Property (attach additional sheet if more space is needed): The McCormick South Bend Condiment Plant manufactures condiments iketchuo, mustard salad dresshm. cocktail sauces BBO sauco for major restaurant chains in the United States. The facility operates 24 hours /da 5 da s /week storing raw materials rocessin and acka in finished goods-to be stored and distributed by- a third party logistics firm. .rlV 3. Estimate the dollar value of the project (excluding land): $ ; million 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: $ 1,423,500 5. (a) The real property for which tax abatement consideration is petitioned (Property) 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 filed with the Securities and Exchange Commission): (Rev 10/23/06)