08-25-08 Council Meeting Agenda & Packet

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CITY OF SOUTH BEND PETITION FOR TANGIBLE PERSONAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of new manufacturing equipment, 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, et seg., and South Bend Municipal Code Section 2 -84.2, et seq., for this petition states the following: 1. Describe the proposed project, including information about the new manufacturing equipment personal property (Aequipment @) 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. The project involves the installation of machinery and equipment costing approximately $2.0 million The machinery and equipment will be used to manufacture manifolds and air intake systems for General Motors and Toyota. 2. The project will create 4 new, permanent jobs within the first year, representing a new annual payroll of $120,000 and will maintain 154 existing permanent full-time and 0 existing part -time jobs representing an annual payroll of $ 4,500,000. The projected annual salaries for each new position created are estimated to be as follows: Hourly: Four (4) (&,14.33 per hour = $120,000 3. Estimate the total cost of the Equipment: $2,000,000 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 MANN +HUMMEL USA, INC 1827 N. BENDIX DR. SOUTH BEND, IN 46628 (Revised 8 /2/02) 1 INTEREST