Confirming Tax Abatement - 1215 S. Walnut St. - Lock Joint Tube, LLC

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South Bend Common Council RE: Lock Joint Tube, LLC July 14, 2006 Page 2 EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will not create any new, permanent, full-time jobs. However, the project will maintain (42) forty-two existing, permanent, full-time jobs and no existing, part- timejobs representing an annual payroll of $1,352,000. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted finds that the petitioner has been granted or associated with (10) ten previous tax abatements. Term/Type Resolution No. Date 10-year real property 2952-00 11/27/00 10-year real property 2798-99 10/11/99 5-year personal property 2797-99 10/11/99 5-year personal property 2796-99 10/11/99 10-year real property 2531-97 12/08/97 5-year personal property 2530-97 12/08/97 5-year personal property 2328-96 10/26/96 5-year personal property 2209-95 01/09/95 10-year real property 1995-92 12/14/92 5-year personal property 1915-92 01/12/92 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. A review of the South Bend Redevelopment designation areas finds that the property is located in the Sample-Ewing Business District, which is a Tax Incremental Allocation Area; therefore, the petition for personal property must first be approved by the South Bend Redevelopment Commission. 4. A review of the South Bend Urban Enterprise Zone finds that the property is located in the Zone Area; therefore, it is recommended that should the company receive the UEZ designation, the Tax Abatement shall become null and void. The Company may not receive an economic revitalization area deduction if it receives an enterprise zone investment deduction under I.C. 6-1.1-45 for the same property. 5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications fora (5) five-year personal property tax abatement under section 2-84.2, Tangible Personal Property Tax Abatement.