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~'A~ATEM~N~ I~~'l~®I~T <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: KATHY HAHN <br />SUB3ECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />S'T`EEL WAREHOUSE CO., LLC and AFIFIIL)IATES and EQUI(PNTENT <br />LESSORS ()I400 W Tiverside I)r. ) <br />DATE: September 2, 2010 <br />On September 1, 2010, a petition for personal property tax abatement consideration far property <br />located at 1400 West Riverside Drive was filed with the City Clerk by Steel Warehouse Company, <br />LLC. Pursuant to Chapter 2, Article 5, Section 2-84.2 of the Municipal Code of the City of South <br />Bend, this petition was referred to the Department of Community and Economic Development far <br />purposes of investigation and preparation of a report determining whether the area qualifies as an <br />Economic Revitalization Area pursuant to I.C.6-1. I -12.1 and whether all zoning requirements have <br />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 />Steel Warehouse is a steel service center focusing an flat rolled, Tow carbon steel, with operations <br />involving slitting, leveling, pickling, temper rolling, shearing and cold reducing, The company also <br />supplies profiling gaits using its plasma and laser cutting operations. In connection with its <br />operations the company takes substantial positions in steel products for future sale and marketing of <br />same to its customers. Under the proposed project Steel Warehouse will add laser cutting and <br />material handling capacity for its existing and expanding customer base. <br />