Confirming Tax Abatement - Harbor Metal Treating of Indiana Inc. 802 S. Fellows (5 Year Personal Property)

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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 sea., and South Bend Municipal Code Section 2 -84.2, et sea., for this petition states the following: Describe the proposed project, including information about the new manufacturing equipment personal property ( "equipment ") to be installed, the amount of land to be used, if any, an estimate of the cost of the project, the proposed use of the equipment, and a general statement as to the value of the project to your business. We will install a new vacuum draw furnace ($200.000) and a new var,n,m furnace ($500,000) to our existing furnace line. The total cost will be approximately $700,000. The new furnaces will keep us competitive in the heat treatment of manufactured dies and related metal products 2. The project will create 1 new, permanent, full time jobs, representing a new annual payroll of $ 24,000 and will maintain 36 existing permanent full time and existing part -time jobs with representing an annual payroll of $ 1,113,000 The projected annual salaries for each position are as follows: One _new, permanent. full time job starting nt$241,nnn 3. Estimate the total cost of the Equipment: $700,000 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 INTEREST Uarbor Metal Treating 802 S. Fellows X007 of Indiana, Inc. South Bend, IN 46624 (b) The following other persons lease, intend to lease, or have an option to buy this Equipment (include corporate information as required in (4)(a) above, if applicable): NAME ADDRESS INTEREST 1