Confirming Tax Abatement - Lock Joint Tube, LLC 1217 S. Walnut Street (5 Yr. Personal Property)

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CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of new manufacturing equipment and related personal property, located within the City of South Bend, hereby petitions the Common Council of the City of South Bend for personal property (new manufacturing equipment) tax abatement consideration and pursuant to I. C. 6- 1.1 -12. 1 -1 et seg., and South Bend Municipal Code Section 2 -84.2 et seq., for this petition states the following: Describe the proposed project, including information about the new manufacturing equipment personal property ( "equipment ") to be installed, the amount of land to be used, if any, the proposed use of the equipment, and a general statement as to the value of the project to your business. Lock Joint Tube, LLC (the "Petitioner ") manufacturers mechanical and structural arg de steel tubing in Indiana (and other states) for use in various industries, including _(among _others) automotive recreational vehicle office /furniture healthcare and construction. Petitioner is proposing to invest between $8,000,000 and $9,000,000 in new manufacturing, information technology and logistical distribution equipment to expand its production capabilities at its Walnut Street (South Bend) facility. This investment in new equipment will (a)i create the length, wall thickness and width of steel tubing that can be manufactured by Petitioner, as well as (b) enhance the coating, weld capabilities and overall quality control standards for production of finished goods. In turn, these increased capabilities will expand the types of products that Petitioner can manufacture and expand its existing markets and open new markets for the production and delivery of goods, including markets such as automotive axles, roll -over protection systems and other heave structural applications. 2. The project will create at least _7 -11 new, permanent, jobs within the first year, representing a new annual payroll of between $210,000 and $330,000. The Petitioner anticipates that the number of j obs (and associated payroll) will nearly double as production progresses through 2013 and 2014 if additional shifts are added. The jobs related to this proposed project are new jobs to the South Bend community. 3. Estimate the cost of the Equipment: The estimated cost of equipment which will be reported for Indiana personal property taxes is estimated to be between $8,000,000 and $9,000,000. 4. (a) The Equipment 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 Lock Joint Tube 515 W. Ireland Road Owner (or subsidiary) South Bend, Indiana 46614