01-12-09 Common Council Meeting Agenda & Packet

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CITY OF SOL-TH 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 persona! 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 se .for this petition states the following: 1. Describe the proposed project, including information about the new manufacturing equipment personal property ("equipment") to be installed, the amount of {and 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. Fortis nlacti .a is an .xt ~d .r of placti . romnon .ntc is .d in a vari .t; of ind ~ctrial and .ons ~m .r applications. The company is weighing the consolidation its existing Elkhart operations to South Bend, IN or Henderson, KY. The South Bend facility would require building rehabilitation and improvements in the 2. The project will create ~a _ new, permanent jobs within the first year, representing a new annual payroll of $ /,610 <<G _ and will maintain ~~,G existing permanent full-time and o existing part-time jobs representing an annual payroll of $~,~~f,.v~.v .The projected annual salaries for each new position created are estimated to be as follows: 97 -Direct Labor @ $29,300; 2q -Salaried @ $51,000; 20 Headquarters @_ $81,000 (average) 3. Estimate the total cost of the Equipment:_ 2,170,900 ~ ~~ ~r~ : z, z ~~,~ ~4 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 Fortis Plastics LLC 2965 LaVanture Place, Elkhart, IN 46514 (Revised 8/2/02)