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Filed in Clerk's Office <br />APR 0 3 2024 <br />Bianca Tirado <br />City Clerk, South Bond, I <br />Abatement QualificationIN <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 />3