Confirming Tax Abatement - 2722 W Tucker Dr. (5yr.pp) Steel Warehouse Co.

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CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTYTAX ABATEMENT CONSIDERATION The undersigned owner(s) of new manufacturing equipment, personal property, located within the City of South Bend, hereby petitions the Common Council of the City of South Bend for personal property (new manufacturing equipment) tax abatement consideration and pursuant to I.C., 6-1.1- 12.1, et se .and South Bend Municipal Code Section 2.84-2, et sea.• for this position states the following: 1. Describe the proposed project, including information about the new manufacturing equipment personal property ("Equipment") to be installed, the amount of land to be used, if any, the proposed use of the Equipment, and a general statement as to the value of the project to your business. Petitioner plans to acquire and install new equipment (i) to replace certain existing equipment, and (iiJ to add additional capacity for manufacturing, servicing, processing and material handling of steel and steel products. The project will allow the Petitioner to continue to reach certain markets for its products that it currently does not serve. 2. The project will create four (4J to seven (7) new, permanent jobs within the first year, representing a new annual payroll of $134,500 to $232,600 and will maintain at least four existing permanent full-time and _ existing part-time jobs representing an annual payroll of $133,120. The projected annual salaries for each new position created are estimated to be as follows: Leveler operator $35,340; Leveler helper $31,900; Material handling specialist $30,900 per year. This does not include performance incentives and benefits including participation in Petitioner's 401K plan and health insurance plan, and paid holidays and vacations. 3. Estimate the total cost of the Equipment: $1,000,000-$2,500,000 4. (a) The Equipment 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): NAME Steel Warehouse Company LLC Affiliates and Equipment Lessors ADDRESS INTEREST 2722 W. Tucker Drive SB, IN 100% (b) The following other persons lease, intend to lease, or have an option to buy this Equipment (including corporate information as required in (4)(a) above, if applicable): n/a NAME ADDRESS INTEREST