Confirming Tax Abatement - 1401 South Main Street - Blk, LLC d/b/a Old Fort Building Supplyed

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CITY OF SOUTH BEND PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for real property tax abatement consideration and pursuant to I.C., 6-l.1-12.1-1, et seq., and South Bend Municipal Code Sec. 2-76 et_ seq• • for this petition states the following: 1. Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the amount of land to be used, an estimate of the cost of the project, the proposed use of the improvements, and a general statement as to the importance of the project to your business: Our project is a complete renovation of an old city owned, overgrown vacant lot into a modern paved and fenced outdoor storage yard for masonry products. It encompasses approximately one acre and the costs are expected to be $200,000. The additional storage is Phase I of a four phase expansion plan at Old Fort Building Supply, Inc.. Without the additional space, we would be forced to relocate our facility. d ~~' ° 2. The redevelopment or rehabilitation project itself will create ~~ ~ new, permanent jobs within the first year, representing a new annual payroll of $ ~D, ~D• and will maintain ~` existing permanent full-time and l existing permanent part-time jobs with an annual payroll of $ ~1~ot o~. .The projected annual salaries for each new position created are estimated to be as follows: One Tn~ck Driver chi $37,000 and one Driver's Helper @ $23,000. These projections are based on strong economic and constn~ction industry growth in the Michiana area. Our projections are subject to the changes within the local constn~ction industry. 3. Estimate the dollar value of project (excluding land): $ ~ol~ t txx~ 4. (a) The real property for which tax abatement consideration is petitioned (Property) is owned or to be owned by the following individuals or corporations (if the business organization is publicly held, indicate also the name of the corporate parent, if any, and the name under which the corporation has filed with the Securities and Exchange Commission): NAME ADDRESS INTEREST William L. Jagger, Vice President, Old Fort Building Supply, Inc. Beneficiary of BLK, LLC 207 Woodland LaPorte, IN 46350