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09-27-10 Council Agenda & Packet
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09-27-10 Council Agenda & Packet
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TAX ARATEIVIENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />PROM: KATHY HAHN <br />SUB.IECT: PERSONAL PROPERTY TAX ABATEMENT PETITIONS POR: <br />STEEL WAREH®USE COMPANY, LLC and AFFILIATES and <br />EQUIPMENT LESSORS (2722 W. TUCKER DRIVE ) <br />DATE: September 7, 2014 <br />On September 3, 2010, a petition for personal property tax abatement consideration for <br />property located at 2722 West Tucker Drive was filed with the City Clerk by Steel Warehouse <br />Company, LLC, et al. Pursuant to Chapter 2, Article 6, Section 2-77 of the Municipal Code of the <br />City of South Bend, the petition was referred to the Department of Community and Economic <br />Development for purposes of investigation and preparation of a report determining whether the areas <br />qualify as Economic Revitalization Areas pursuant to 1.C.6-1.1-12.1 and whether all zoning <br />requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition, <br />investigated the areas and makes the following report. <br />PROJECT SUMMARY <br />Steel Warehouse Company LLC is a steel service center with a primary focus on flat rolled, <br />low carbon steel with operations involving slitting, leveling, pickling, shearing, temper rolling, and <br />cold reducing. The petitioner also supplies profiling parts through its plasma and laser cutting <br />operations. In connection with its operations, the company takes substantial positions in steel and <br />steel products for the future sale and marketing of the same to its customers. <br />The abatement request for personal property at 2722 W. Tucker involves the acquisition of <br />equipment for manufacturing, servicing, processing and material handling ofsteel and steel products, <br />having a total cost expected to be from $1,000,000 to $2,500,000. The acquisition will enable the <br />company to add capacity and modernize its existing manufacturing equipment and Facilities at this <br />
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