Confirming Tax Abatement - Hoosier Tank 1710 North Sheridan St. (5 Yr. Personal Property)

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CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of new manufacturing equipment, perso�al 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 seq•, and South Bend Municipal Code Section 2-84.2, et seq•, for this petition states the following: 1. Describe the proposed project, including information about the new manufacturing equipment personal property (Aequipmentc�) 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. 70' X 290' buildinq addition with new shi�pin�docks with turn around access for six semitrailers. Addition will mainly be warehouse and shipping to accommodate_ our customers' packaqinq needs. Addition will free up manufacturinq floor space� allowinq us to add machinery for a complete third line. This will increase our production capacit by v 25 2. The project will create 15 new, permanent jobs within the first year, representing a new annual payroll of $ 600,000 and will maintain 72 existing permanent full-time and 0 existing part-time jobs representing an annual payroll of$ 3,000,000 . The projected annual salaries for each new position created are estimated to be as follows: 12 production workers = $35,000 __ 2 maintenance technicians = 45,000 1 maintenance supervisor= $55,000 3. Estimate the total cost of the Equipment: $1,175,000 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 ADDRESS INTEREST Hoosier Tank 1710 N. Sheridan, South Bend, IN 46628 100% (Revised 8/2/02) 1