Confirming Tax Abatement - SBG Realty 3849 Showerlux Dr. (8 Yr. Real Property)

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CITY OF SOUTH BEND PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for real property tax abatement considerationand pursuantto I.C., 6-1.1-12.1-1, etse .and South Bend Municipal Code Sec. 2-76 et se .for this petition states the following: Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the proposed use of the improvements, and a general statement as to the importance of the project to your business: Development of a site on the NW corner of South Bend, IN as a joint venture between an established South Bend business and a very mature, family owned Italian company. The company formed in this joint venture will produce engine gears for the heavy duty Class 8 on Highway truck market in North America. The building will be over 50,000 square feet in its first phase in what could be three phases eventually doubling the initial size. This project allows Schafer Gear Works to grow and expand in the South Bend area, while creating new jobs and adding economic activity to the area. Land Size 5.54 acres; Building Size 50,666 sq.ft. 2. Describe the overall nature of the business and of the operations occurring at the Property (attach additional sheet if more space is needed): The business will turn raw material (forgings) into gears by machining and heat treating the metal. The customer is based in Stuttgart, Germany, but the product will be shipped to their subsidiary in Detroit, Michigan. (Rev 10/23/06)