Confirming Tax Abatement - South Bend Redevelopment Commission/Oliver Plow Partners LP (7 Yr. Real Property)

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o`�s�U; IH�B��'d IZOO CAUNTY-CITYBUILDING �.�i �� j a PxorrE 574/235-9371 � �� \� ,�„ .� .. 227 W.JEFFERSON BOLJI.EVARD W, �� PEACE FAX 574/235-9021 $OUTH BEND,Ixnvwn 46601-1830 S�N \` I��,��a�' r y k 1865 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY � ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECUTIVE DIRECTOR September 6, 2011 Council Member Timothy Rouse, Chairperson Community&Economic Development Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Commercial Real Property Tax Abatement Petition for: OLIVER PLOW PARTNERS, LP Dear Council Member Rouse: The petitioner, Oliver Plow Partners, is in the process of purchasing 4.4 acres in the Oliver Plow Industrial Park from the South Bend Redevelopment Commission. Oliver Plow intends to construct a warehouse/distribution facility to accommodate a tenant,ABC Supply Company Incorporated. The building will have approximately 40,800 square feet. It will be a pre-engineered steel facility with a masonry wainscot or fa�ade. The building will be of high quality and will match the character of the surrounding industrial uses near to the property. The estimated cost of the building is$1,750,000. ABC Supply Company is a distributor of exterior housing products. They are a primary supplier to the construction industry which will match the current uses found within Oliver Plow Industrial Park. When the designating resolution was passed,the Petitioner has just begun collecting information on potential suppliers and contractors for the project. For this reason they were unable to answer the questions related to suppliers of construction materials and construction contractors. They intended to submit this information prior to the Common Council meeting to consider their confirming resolution. At that time the final points would be awarded and the length of the abatement term set. Based on recently submitted information,the Petitioner has scored sufficient points for a seven year term. Per the petition,it is estimated that the project will create two(2)new,permanent full-time positions with total wages estimated at$65,000. It will retain ten(10)existing permanent full-time positions and one (1) existing part time position, including two (2) existing permanent full-time minority employees, with a total annual payroll of$419,958. COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL 8L PROGRAM PAMELA C.MEYER DONALD E.INKS ,. MANAGEMENT 5741235-9GG0 574/235-9371 ELIZABETH LEONAAD Fn�c 574/235-94G9 574/235-9371