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01-14-08 Council Meeting Agenda & Packet
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01-14-08 Council Meeting Agenda & Packet
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11/25/2008 1:22:12 PM
Creation date
1/10/2008 1:45:37 PM
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City Council - City Clerk
City Counci - Date
1/14/2008
Document Relationships
9816-08 Vacation - Alley - Meade, Kenwood
(Superseded by)
Path:
\Public\Common Council\Legislation\Ordinances\2008
9817-08 Establish Additional fund - Fund #435- TIF District
(Superseded by)
Path:
\Public\Common Council\Legislation\Ordinances\2008
Confirming Tax Abatement - 202 South Michigan Street - Various Floors - Key Bank, LLC (The Hinman Company)
(Superseded by)
Path:
\Public\Common Council\Legislation\Resolutions/Special Resolutions\2008
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CITY OF SOUTH BEND <br />PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION <br />The undersigned owner(s) of real property, located within the City of South Bend, <br />hereby petition the Common Council of the City of South Bend for real property tax <br />abatement consideration and pursuant to I.C., 6-1.1-12.1-1, et se .and South Bend <br />Municipal Code Sec. 2-76 et seq., for this petition states the following: <br />1. Describe the proposed redevelopment or rehabilitation project, including <br />information about physical improvements to be made, the proposed use of the <br />improvements, and a general statement as to the importance of the project to <br />I iJUSIIICSJ <br />Ryan Fireprotection, aleader in the engineering, design and construction of fire protection systems, currently <br />leases a facility in South Bend and employes 17 people. The company is experiencing strong growth in the <br />region and expects this growth to continue. The lease on the existing building expires early in 2008 and the <br />company has decided to construct a new, larger facility to meet their increasing space requirements. Several <br />sites are currently being considered for the project, including locations in Illinois and Michigan. It is <br />anticipated that the new facility will serve clients within a 100 mile radius of South Bend. The new building <br />will be 30,000 sf of light industrial/warehouse, expandable to 50,000 sf. <br />The new facility will be a key factor in Ryan's continued growth. Tax abatement for this new facility is needed <br />to ensure that the company's project move forward at this location as opposed to other locations in Michigan <br />or Illinois. <br />Land Size 4.13 <br />acres; Building Size _ 30,000 sq.ft. <br />2. Describe the overall nature of the business and of the operations occurring at <br />the Property (attach additional sheet if more space is needed): <br />Founded in 1989, Ryan Fireprotection develops the highest-quality, custom fire protection systems <br />available. Ryan Fireprotection custom designs new construction or retrofit fire protection systems, <br />manufactures all systems in their modern in-house fabrication facility in Indianapolis, installs <br />systems according to all required specifications, codes and insurance company requirements, and <br />maintains and inspects systems to ensure proper working order and compliance with required <br />building and fire codes. ' <br />The South Bend newly constructed light industrial /warehouse space will allow for some light <br />fabrication and warehousing of fire protection system parts as well as serve as a base for repair <br />and installation employees to work from. <br />3. Estimate the dollar value of the project (excluding land): $ 1,1o3,s5o <br />4. The current assessed valuation of the real property before rehabilitation, <br />redevelopment, eeonomic'revitalization, or improvement: $ 50,500 <br />5. (a) The real property for which tax abatement consideration is petitioned (Property) is owned <br />(Rev R 11'03) t <br />~- <br />
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