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ste eh®USe 2722 wesf fucker drive ® p.o. Lox 1377 <br /> 574-236-5100 <br /> soufh Lend, indiana 46624 • 800-348-2529 <br /> fax no. 574-236-5154 <br /> December 2, 2011 <br /> Office of City Clerk <br /> County—City Building <br /> Room 455 <br /> 227 W. Jefferson Blvd. F <br /> South Bend, IN 46601 <br /> r <br /> Tax Abatement Proposal <br /> Dear Sirs: <br /> On behalf of Steel Warehouse Company LLC, I enclose a Petition for Tangible <br /> Personal Property Tax Abatement and exhibits thereto, a Statement of Benefits Form and <br /> a check to the City of South Bend in the amount of$250.00. <br /> Steel Warehouse hereby submits its application for Personal Property Tax <br /> Abatement in connection with a project to add new equipment having a value of <br /> approximately$19 million to $3.4 million. Steel Warehouse believes that the project <br /> will create ten new full time jobs with an annual payroll increase of$314,000 and <br /> maintain twenty existing full time jobs with an annual payroll of$653,800. <br /> Steel Warehouse Company LLC is a steel service center with a primary focus on <br /> flat rolled, low carbon steel. Its operations involve slitting, leveling,pickling, shearing, <br /> temper rolling and cold reducing. It also manufactures and supplies profiling parts using <br /> its plasma and laser cutting operations. The proposed project will enable Steel <br /> Warehouse to accommodate the increasing demand of its customers for prefabrication <br /> parts. <br /> The project qualifies five (5) years Personal Property Tax Abatement under <br /> standards established for tax abatement by the City Council. We respectfully request <br /> your favorable action on our Petition. <br /> Very truly yours, <br /> ry F A" , <br /> Gerald F. Lerman <br /> GL:Id <br />