01-13-14 Council Agenda & Packet

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sO WMAWHINI _`![ to �ia�r�r ,eRZ „; NORTH AMERICA; �, 4601 Nimtz Parkway �EC L South Bend, IN 46628 dC}y;;�y iGi `i�L`F Phone 574- 968 -0273 1; CITY CLIP l , SOUTH BEND, !h, December l6, 2013 Janice Talboom Office of the Clerk 227 W. Jefferson Boulevard, Suite 400 S South Bend, IN 46601 -1830 Re: Somaschini North America, LLC Personal Property Tax Abatement Formerly South Bend Gear, LLC, Personal Property Tax Abatement Dear Ms. Talboom: South Bend Gear, LLC ( "SBG ") received a five -year personal property tax abatement from the South Bend Common Council (see enclosed copy of Memorandum of Agreement dated February 21, 2011 and enclosed copy of Statement of Benefits form SB -UPP dated January 28, 2011 and related attachments). In February 2013, the time frame for meeting the terms of the abatement was extended to February 14, 2014 and the intent was to transfer the MOA to Somaschini North America, LLC. While the original entity that filed the Memorandum of Agreement ( "MOA ") remains the same, we have been advised that the abatement that was applied for in February 2011 needs to be transferred to Somaschini North America, LLC ( "Soma "). Thus, we are writing this letter to finalize the transfer of the abatement to Soma and to recognize that Schafer Gear Works, Inc. is no longer a part of the entity or the abatement. The original MOA was filled by Mr. Stan Blenke for SBG. SBG was formed as a two- member LLC at that time. The two members were: Soma and Schafer Gear Works, Inc. Effective December 1, 2012, SBG became a single member LLC with Soma as the sole member. In early 2013, the entity changed its name to Somaschini North America, LLC.