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CITY OF SOLiTH BEND PETITION FOR <br />TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION <br />The undersigned owner(s) of new manufacturing equipment, persona( property, located within the <br />City of South Bend, hereby petitions the Common Council of the City of South Bend for personal <br />property {new manufacturing equipment) tax abatement consideration and pursuant to #.C.~ 6-1.1- <br />12.1, et__ seal and South Bend Municipal Code Section 2.84-2, et_ _ secy.. for this position states the <br />following: <br />1. Describe the proposed project, including information about the new manufacturing <br />equipment personal property {"Equipment") to be installed, the amount of land to be used, <br />if any, the proposed use of the Equipment, and a general statement as to the ualue of the <br />project to your business. Petitioner plans to acquire and install new equipment for <br />manufacturing, servicing, processing and material handling of steel and steel products. The <br />protect will allow the Petitioner to continue service expanding requirements of certain <br />markets as weU as reach other markets for its products. <br />2. The project wii# create 7 to 19 new, permanent jobs within the first year, representing a new <br />annual payrol! of $2,12,700 to $582,864.8 and wil# onaintain at leastfour existing permanent <br />full_#ime and _„ existing part-time jobs representing an annual payroll of $133,120. The <br />projected annual salaries fvr each new position created are estimated to be as follows: <br />Laser operator $30,864 per year; Crane operator $30,864 per year; Material handling <br />specialist $30,864 per year; Inside sales person $32,000 per year. This does not include <br />performance incentives and benefits including participation in Petitioner's 401K plan and <br />health insurance plan, and paid holidays and vacations. <br />3. Estimate the total cost of the Equipment: $2,40Q000-$3,000,000 <br />4. (a) The Equipment is owned ar to be owned by the following individuals or corporations <br />(if the business organization is publicly held, indicate also the name of the corporate parent, <br />if any, and the name under which the corporation has filed with the Securities and Exchange <br />Commission): <br />NAME <br />Steel Warehouse Company LLC <br />Aff<liates and Equipment lessors <br />ADDfiE55 INTEd~EST <br />27,22 W. 7Lcker Drive SB, IN 1009b <br />(b) The fiollowing other persons lease, intend to lease, or have an option to buy this <br />Equipment (including corporate information as required in (4)(a) above, if applicable): n/a <br />NAM£ ADDItE55 INTEREST <br />1 <br />