04-23-12 Council Agenda & Packet

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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. § 6-1.1-12.1-1 et seq., and South Bend Municipal Code Section 2-76, et s__ cd., for this petition states the following: 1. 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 your business. Lock Joint Tube, LLC and/or its affiliates the "Petitioner") manufacturers mechanical and structural gLade steel tubing in Indiana and other states for use in various industries including (among others) automotive,and construction. he proposed t�roject includs recreational f.,_elfurniture, healthcare c new in two primm building ro'ects including 1 the removal and reconstruction of a new and raised roof structure raised from 15' to 40' covering approximately 60,000 square feet of manufacturin space, 2) anew building addition containing approximately 30,000 square feet to be used for manufacturing, storage and shipping space all located at the Lock Joint Tube, LLC facility on S. Street in_South„Bend. The Petitioner anticipates, that these real estate investments will cost between $1,000,000 and $1,600,004. This proposed investment is bein considered in connection with Petitioner's investment of between $8,000,000 and $9,000,000 in new manufacturing equipment (to be located ,., within .the real. estate subiect to this Petition in order to a-increase Petitioner's prn _ cluction capabilities, including the thickness, width_and„overall length of steel tubing manufactured by Petitioner, and (b) expand existing business_ into new _ g and gain entry___-- markets. Land Size 13.45 acres; Building Size 30,000 sq, ft. new building addition} together with new roof structure over 60,000 sq. ft. 2. Describe the overall nature of the business and of the operations occurring at the Property (Please attach additional sheet if more space is needed): As noted above, Petitioner manufacturers mechanical and structural . ade steel tubing in . Indiana and other states for use in various industries including amon others automotive, _recreational vehicle office/furniture healthcare and construction. This proposed project (and its proposed investment, in new manufacturing equipment) is intended to significantly increase Petitioner's production capabilities and expand the types of products that Petitioner can manufacture and the markets Petitioner serves, including new vroducts. such as automotive axles roll-over Protection systems and other heavy structural a lications.