Laserfiche WebLink
227 W. JEFFERSON BOULEVARD <br />SUITE 1400 S. <br />SOUTH BEND, IN 46601 -1830 <br />CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR <br />COMMUNITY INVESTMENT <br />March 10, 2014 SCOTT FORD, EXECUTIVE DIRECTOR <br />Council Member, Chairperson Gavin Ferlic <br />Community Investment Committee <br />South Bend Common Council <br />4th Floor, County -City Building <br />South Bend, IN 46601 <br />PHONE: 574 /235 -9371 <br />FAx:574/235 -9021 <br />RE: Personal Property Tax Abatement Petition and Real Property Tax Abatement <br />Petition for: <br />Lock Joint Tube, LLC <br />Dear Council Member Ferlic: <br />Please find attached the Department of Community Investment's report on a personal <br />property tax abatement petition and a real property tax abatement petition for the above - <br />referenced petitioner. Also attached are copies of the petition, Statement of Benefits <br />forms, and supporting information. The project calls for the acquisition and installation <br />of new equipment as part of the company's planned increase in productive capacity in its <br />facility located at 515 West Ireland Road. The company also plans to construct an <br />addition on the present building. <br />The report contains the Department's findings relative to the above petitions. Lock Joint <br />Tube will be purchasing and installing new manufacturing equipment. The total project <br />cost for the equipment is estimated between $3.5 and $4.0 million. The project meets the <br />qualifications for a (5) five -year personal property tax abatement. With the real property <br />improvements, the Company will qualify for a five to seven year real property tax <br />abatement depending on their selection of contractors. A representative from Lock Joint <br />Tube will be available to meet with the Committee on Monday, March 24, 2014. <br />Should you or any of the other Council members have any questions concerning the <br />report, or need additional information, please feel free to call me at 235 -9339. <br />Sincerg�l� <br />Broceeb <br />Director Economic esources <br />Attachments <br />cc: South Bend Common Council Members <br />Mayor Pete Buttigieg <br />Scott Ford <br />Chris Fielding <br />PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES <br />JmN KAIN PAMELA C. MEYER CHRIS FIELDING DONALD E. INKS <br />