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Abatement Qualification <br /> 1. A search of Common Council online records indicates that Steel Warehouse and its <br /> subsidiaries have received 22 abatements since 2000. <br /> • Personal Property: 16 abatements (12 for Steel Warehouse and 4 for Lock Joint <br /> Tube, subsidiary) <br /> • Real Property: 6 abatements (3 for Steel Warehouse and 3 for Lock Joint Tube) <br /> Since 2000, the 22 tax abatements received by Steel Warehouse and its subsidiaries <br /> had job-creation estimates totaling 99 to 149 jobs. <br /> The most recent abatement was approved in 2022. Confirming Resolution No. 4982-22 <br /> approved a five-year(5) personal property tax abatement for$3.7 million in equipment to <br /> expand the company's cold reducing mill operations. <br /> 2. The property is properly zoned for the proposed project. <br /> 3. Taxes on the property have been paid in full. <br /> 4. A review of the South Bend Redevelopment designation areas finds that the property is <br /> in the River West Development Area. <br /> 5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets <br /> the qualifications for a six-year(6) industrial development real property tax abatement <br /> under Division 7 (Industrial Development Real Property Tax Abatement), Section 2-82 <br /> (Industrial development city-wide general standards). <br /> The petitioner also meets the qualifications for a five-year(5) personal property tax <br /> abatement under Division 10 (Personal Property Tax Abatement), Section 2-84.2 <br /> (Tangible personal property tax abatement). <br /> Filed in Clerk's Office <br /> APR 0 3 2024 <br /> Bianca Tirade <br /> City Clerk, South Bun IN <br /> 3 <br />