Confirming Tax Abatement - 1400 W Riverside Dr. (5yr.pp) Steel Warehouse

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TAX ABATEMENT REPOR T TO: SOUTH BEND COMMON COUNCIL FROM: KATHY HAHN SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: STEEL WAREHOUSE CO., LLC and AFFILIATES and EQUIPMENT LESSORS (1400 W Riverside Dr. ) DATE: September 2, 2010 On September 1, 2010, a petition for personal property tax abatement consideration for property located at 1400 West Riverside Drive was filed with the City Clerk by Steel Warehouse Company, LLC. Pursuant to Chapter 2, Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition, investigated the area, and makes the following report. PROJECT SUMMARY Steel Warehouse is a steel service center focusing on flat rolled, low carbon steel, with operations involving slitting, leveling, pickling, temper rolling, shearing and cold reducing. The company also supplies profiling parts using its plasma and laser cutting operations. In connection with its operations the company takes substantial positions in steel products for future sale and marketing of same to its customers. Under the proposed project Steel Warehouse will add laser cutting and material handling capacity for its existing and expanding customer base.