Confirming Tax Abatement - 3950 William Richardson Court - Ryan Fireprotection, Inc

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CITY OF SOUTH BEND PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owners} of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for rea! property tax abatement consideration and pursuant to I.C.. 6-1.1-12.1-1, et seg•, and South Bend Municipal Code Sec. 2-76 et seq., for this petition states the following: Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the proposed use of the improvements, and a general statement as to the importance of the project to i SJU51r ICJS. cyan Fireprotection, aleader inthe engineering, design and construction of fire protection systems, currently eases a facility in South Bend and employes 17 people. The company is experiencing strong growth in the ~egion and expects this growth to continue. The lease on the existing building expires early in 2008 and the ;ompany has decided to construct a new, larger facility to meet their increasing space requirements. Several sites are currently being considered for the project, including locations in Illinois and Michigan. It is anticipated that the new facility will serve clients within a 100 mile radius of South Bend. The new building NiII be 30,000 sf of light industrial/warehouse, expandable to 50,000 sf. the new facility will be a key factor in Ryan's continued growth. Tax abatement for this new facility is needed o ensure that the company's project move forward at this location as opposed to other locations in Michigan x Illinois. Land Size 4.13 acres; Building Size ____ 30,000 sq.ft. 2. Describe the overall nature of the business and of the operations occurring at the Property (attach additional sheet if more space is needed): Founded in 1989, Ryan Fireprotection develops the highest-quality, custom fire protection systems. available. Ryan Fireprotection custom designs new construction or retrofit fire protection systems, manufactures all systems in their modern in-house fabrication facility in Indianapolis, installs systems according to all required specifications, codes and insurance company requirements, and imaintains and inspects systems to ensure proper working order and compliance with required building and fire codes. The South Bend newly constructed light industrial /warehouse space will allow for some light fabrication and warehousing of fire protection system parts as well as serve as a base for repair and installation employees to work from. 3. Estimate the dollar value of the project (excluding land): $ 1,1o3,s5o 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: $ 50,500 5. (a} The real property for which tax abatement consideration is petitioned (Property) is owned (Rer~ R' 11 `03 )