04-27-15 Agenda, Packet & Committee Meeting Notice

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BROCK ZEEB SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: Ameriplex Superior Partners, LP DATE: April 22, 2015 On Thursday, April 16, 2015, a petition from Ameriplex Superior Partners, LP was received and subsequently filed with the City Clerk for real property tax abatement consideration for property to be located at 5231 Dylan Drive, South Bend, IN 46628. Pursuant to Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community Investment for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. The Department of Community Investment has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT SUMMARY ➢ Building addition to the existing Hubbell Electrical facility located in the Ameriplex industrial park. Hubbell Electric has acquired another business and desires to bring the operations of that business to Indiana which requires building on to the current facility. ➢ $5,600,000 investment in new building construction and building expansion ➢ Total project taxes — $1,959,402 ➢ Estimated taxes being abated during seven year abatement period — $238,634 ➢ Total taxes to be paid during seven year abatement period — $1,720,767 EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will: ➢ Create 8 permanent, full -time and zero (0) permanent, part-time jobs within the first year, representing a new annual payroll of $268,736 ➢ Retain 62 permanent, full -time jobs with an annual payroll of $1,945,308 PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES JITM KAIN PAMELA C. MEYER CHRIS FIELDING BROCK ZEEB