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CITY OF SOUTH BEND PETITION FOR <br /> TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION <br /> The undersigned owner(s)of new manufacturing equipment and related personal property, located <br /> within the City of South Bend,hereby petitions the Common Council of the City of South Bend for <br /> personal property(new manufacturing equipment)tax abatement consideration and pursuant to I.C. <br /> 6-1.1-12. 1-1 et M., and South Bend Municipal Code Section 2-84.2 et M.,for this petition states <br /> the following: <br /> 1. Describe the proposed project, including information about the new manufacturing <br /> equipment personal property("equipment")to be installed,the amount of land to be used,if <br /> any,the proposed use of the equipment,and a general statement as to the value of the project <br /> to your business. <br /> Lock Joint Tube LLC the"Petitioner" manufacturers mechanical and structural gLade steel <br /> tubing in Indiana Land other states for use in various industries includin (among others <br /> automotive,recreational vehicle,office/furniture_„healthcare and construction. Petitioner is <br /> pip posing to invest between$8,000,000 and$9,000,000 in new manufacturing,information <br /> technology_and logistical distribution equipment to expand its production capabilities at its <br /> ,,,.,_._... <br /> Walnut Street South Bend facility. This investment in new equipment will a increase the <br /> len h wall thickness and width of steel tubing that can be manufactured by Petitioner, as <br /> well as (b) enhance the coating, weld capabilities and overall quality control standards for <br /> production of finished goods. In turn these increased ca abilities will-expand the es of <br /> products that Petitioner can manufacture and expand its existing markets and 012en new <br /> markets for the production and delivery of goods, including markets such as automotive <br /> axles,roll.-over protection systems and other heave structural applications: <br /> 2. The project will create at least 7-11 new, permanent, jobs within the first year, <br /> representing a new annual payroll of between $210,000 and $330,000. The Petitioner <br /> anticipates that the number of jobs(and associated payroll)will nearly double as production <br /> progresses through 2013 and 2014 if additional shifts are added. The jobs related to this <br /> proposed project are new jobs to the South Bend community. <br /> 3. Estimate the cost of the Equipment: The estimated cost of equipment which will be reported <br /> for Indiana personal property taxes is estimated to be between$8,000,000 and $9.000,000. <br /> 4. (a) The Equipment is owned or to be owned by the following individuals or corporations <br /> (if the business organization is publicly-held,indicate also the name of the corporate <br /> parent,if any,and the name under which the corporation has filed with the Securities <br /> and Exchange Commission): <br /> NAME ADDRESS INTEREST <br /> Lock Joint Tube 515 W. Ireland Road Owner <br /> (or subsidiary) South Bend, Indiana 46614 <br />