05-12-08 Council Meeting 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 Sec. 2-76 et se .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: Construction of a 12,000 square foot storage warehouse with the addition of outside storage areas for products specific to Old Fort's business. The additional capacity will unable us to buy in larger volume to remain competitive in the downturn of the construction industry. Land Size - 3$,000 square feet Land Size Building Size - 12,000 square feet acres;. Building Size sq.ft. 2. Describe the overall nature of the business and of the operations occurring at the Property (attach additional sheet if more space is needed): Old Fort Building Supply is a major supplier of construction materials to the Michiana area. Between 80-90% of its sales are to professional contractors and subcontractors. Our main product lines are brick, architectural block, stone, landscapingpavers and wall, drywall, steel studs, insulation, acoustical ceilings and related products. 3. Estimate the dollar value of the project (excluding land): $ 325, ooo, 00 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: $ 44, 700 5. (a) The real property for which tax abatement consideration is petitioned (Property) is owned (Rev 10;23/06)