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Confirming Tax Abatement - Federal-Mogul Powertrain Inc. 3605 West Cleveland Road (5 Yr. Personal Property)
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Confirming Tax Abatement - Federal-Mogul Powertrain Inc. 3605 West Cleveland Road (5 Yr. Personal Property)
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9/12/2012 10:28:13 AM
Creation date
6/8/2012 11:20:46 AM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
5/29/2012
Ord-Res Number
4185-12
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4. The projected annual salary for each new position indicated in item 2 above is <br />estimated to be as follows (Please attach a separate sheet if more space is <br />needed): <br />POSITION (Indicate Full time [FT] or Part time [PT]) EMPLOYMENT WAGE <br />Potential new hires are 1 Prototype Admin - $26,000, 1 Prototype Manager - $85,000, 2 Maintenance Techs - $118,000, <br />2 Shipping & Receiving Operators - $60,000,4 Engineers - $250,000 administrative, 10 Line Operators - $393,000. <br />5. Estimate the total cost of the new Equipment: $ 21.802,000 <br />6. (a) The Equipment is owned or to be owned by the following individual(s) or <br />corporation(s) (if the business organization is publicly held, indicate also the <br />name of the corporate parent, if any, and the name under which the corporation <br />has filed with the Securities and Exchange Commission): <br />NAME ADDRESS INTEREST ( %) <br />Federal -Mogul Corporation located at 26555 Northwestern Highway, Southfield, MI 48034 with 100% Owning Interest <br />dba Federal Mogul Powertrain, Inc. <br />(b) The following other person(s) or corporation(s) lease, intend to lease, or have <br />an option to buy the Equipment (include corporate information as required in <br />(6)(a) above, if applicable): <br />NAME ADDRESS INTEREST ( %) <br />Not Applicable <br />7. Give a brief description of the overall nature of the business and of the operations <br />occurring at the location for which tax abatement is requested: <br />Federal -Mogul Powertrain, Inc. is a manufacturer of automotive pistons. Customers include most of the major foreign and <br />domestic automotive manufacturers. Operations in South Bend, IN began in 1987. Federal -Mogul has maintained employment <br />levels consistently between 300 and 400 full time positions with total salaries between $18 and $20 million. Total gross sales <br />generated from the South Bend facility averaged $82 million over the past 5 years despite a very difficult economy. <br />8. The commonly known address of the REAL property where the Equipment is to be <br />located is: 3605 W. Cleveland Rd., South Bend, IN <br />9. The Key Number(s) of said property is: 25- 1013 -0218 <br />10. A legal description of the REAL property where the Equipment is to be located is <br />attached hereto, marked "Exhibit A," and incorporated herein. <br />11. A map and /or plat describing the REAL property where the Equipment is to be <br />located is attached hereto, marked "Exhibit B," and incorporated herein. <br />(Rev. 5/13/11) <br />
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