11-12-12 Council Agenda & Packet

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: DAVID RELOS ' SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: EW MARINE, INC. DBA INDIANA ROTOMOLDING, INC. DATE: October 31, 2012 On October 29, 2012, a petition for personal property tax abatement consideration for property located at 3300 N. Kenmore was filed with the City Clerk by EW Marine, Inc. DBA Indiana Rotomolding,Inc. Pursuant to Chapter 2,Article 6, Section 2-82 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report,to determine whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1, and that all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition,investigated the area, and makes the following report. PROJECT SUMMARY EW Marine, Inc. DBA Indiana Rotomolding, Inc. is a custom plastic processor utilizing the rotational molding process to manufacture yellow crash barrels for highway safety,along with a wide variety of other small and large hollow products which are shipped up to 800 miles away. EW Marine, Inc. DBA Indiana Rotomolding intends to purchase equipment in the amount of$1,000,000 to complement current equipment in order to support client demands and higher volume. Being located at 3300 N. Kenmore, EW Marine, Inc. DBA Indiana Rotomolding is in German Township. Using German Township's tax rate, during a five (5) year abatement period, total taxes being abated are estimated at $15;039. Total taxes being paid are estimated at $168,072.