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HomeMy WebLinkAboutConfirming Tax Abatement - 3511-3615 Voorde Drive - Fortis Plastics, LLCRESOLUTION 3942-09 Passed by the Common Council of the City of South Bend, Indiana January 26, Zo 09 Attest: n,z,., ..P,/~ / ,~~' ~~,c~S~-c.~ ~kx1~~-2n~,~~ City Clerk ~ /~ / ~' President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana January 27, 20 09 Approved and signed by me January 2 8 , 20 ~_ , ~~~ ~ ~-- Clerk RESOLUTION NO. 3 ~ `~ 2- ~ ~ `~ A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 3511 - 3615 Voorde Drive TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT -FOR Fortis Plastics, LLC WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 3511 - 3615 Voorde Drive, South Bend, Indiana, and which is more particularly described as follows: Land Situated in the State of Indiana, County of St, Joseph, City of South Bend. PARCEL I: A portion of the East '/Z of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian, and a part of the City of South Bend, in St. Joseph County, Indiana, more particularly described as follows: Commencing at the Northeast corner of the Southeast '/a Section 33, thence South 0 degrees, 07 minutes, 29 seconds West, along and with the East line of said Southeast Quarter of Section 33, a distance of 815.52 feet; thence North 89 degrees 40 minutes 09 seconds West, a distance of 1,348.23 feet to the intersection of the Northerly Right-of--Way line of Voorde Drive and the Westerly Right-of--Way line of proposed Progress Drive, said point being the point of beginning; thence North 0 degrees 19 minutes 51 seconds East, along and with the said Westerly Right-of- Way line of proposed Progress Drive, a distance of 455.00 feet; thence North 89 degrees 40 minutes 09 seconds West, along a line parallel with the Northerly Right-of--Way line of Voorde Drive, a distance of 250.00 feet; thence South 0 degrees 19 minutes 51 seconds West, a distance of 455.00 feet to a point on the Northerly Right-of--Way line of Voorde Drive; thence South 89 degrees 40 minutes 09 seconds East, along and with the Northerly Right-of--Way line of Voorde Drive, a distance of 250.00 feet to the place of beginning. PARCEL II: A portion of the Southeast'/4 of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian, in and part of the City of South Bend, in St. Joseph County, Indiana, more particularly described as follows: Commencing at a brass plug at the center of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian; thence South 0 degrees O1 minutes 14 seconds West, a distance of 814.60 feet to the North line of Voorde Drive projected West; thence South 89 degrees 40 minutes 09 seconds East, on and along the said-North line. of Voorde Drive, a distance of 737.20 feet to the point of beginning; thence North 0 degrees 18 minutes Slseconds East, a distance of 455.00 feet; thence South 89 degrees 40 minutes 09 seconds East, a distance of 302.21 feet; thence South Ol degrees 18 minutes 51 seconds West, a distance of 455.00 feet to the North line of said Voorde Drive; thence North 89 degrees 40 minutes 09 seconds West, a distance of 302.21 feet to the place beginning. EXCEPTING THEREFROM the following described real estate: A portion of the Southeast'/4 of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian, in and part of the City of South Bend, in St. Joseph County, Indiana, more particularly described as follows: Commencing at a brass plug at the center of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian; thence South 0 degrees O1 minutes 14 seconds West, a distance of 814.60 feet to the North line of Voorde Drive projected West; thence South 89 degrees 40 minutes 09 seconds East, on and along the said North line of Voorde Drive, a distance of 737.20 feet; thence North 0 degrees .18 minutes 51 seconds East, a distance of 217.02 feet, along the West property line of Norman F. Ernsberger and Lavern D. Jessup, a General Partnership; thence South 89 degrees 40 minutes 09 seconds East, a distance of 30.24 feet to the Northwest corner of a existing building, said Northwest corner being the point of beginning for this description; thence continuing South 89 degrees 40 minutes 09 seconds East, along the North wall of said existing building, a distance of 161.00 feet; thence North 0 degrees 18 minutes 51 seconds East, a distance of 134.28 feet; thence North 89 degrees 40 minutes 09 seconds West, a distance of 161.00 feet; thence South 0 degrees 18 minutes 51 seconds West, a distance of 134.28 feet to the point of beginning. PARCEL III: A portion of the Southeast '/4 of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian, in and part of the City of South Bend, in St. Joseph County, Indiana, more particularly described as follows: Commencing at a brass plug at the center of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian; thence South 0 degrees O1 minutes 14 seconds West, a distance of 814.60 feet to the North line of Voorde Drive projected West; thence South 89 degrees 40 minutes 09 seconds East, on and along the said North line of Voorde Drive, a distance of 737.20 feet; thence North 0 degrees 18 minutes 51 seconds East, a distance of 217.02 feet, along the West property line of Norman F. Ernsberger and Lavern D. Jessup, a General Partnership; thence South 89 degrees 40 minutes 09 seconds East, a distance of 30.24 feet to the Northwest corner of a existing building, said Northwest corner being the point of beginning for this description; thence continuing South 89 degrees 40 minutes 09 seconds East, along the North wall of said existing building, a distance of 161.00 feet; thence North 0 degrees 18 minutes 51 seconds East, a distance of 134.28 feet; thence North 89 degrees 40 minutes 09 seconds West, a distance of 161.00 feet; thence South 0 degrees 18 minutes 51 seconds West, a distance of 134.28 feet to the point of beginning and which has Tax Key Numbers New Parce171-03-33-401-006.000-026 (Parcel I), New Parce171-03-33-401-007.000-026 (Parcel II) and New Parce171-03-33-401-008.000-026 (Parcel III) presently, as an Economic Revitalization Area; and WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for an economic revitalization area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for Personal property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION II. The Common Council hereby determines that the property owner is qualified for and is granted Personal Property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et sew. SECTION III. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. Member of the Common Council ;,~.~-; Wit-?RC"'"'% _., .c~~o~rd~ l-Zb-`'`` Fi(~~ (n ~(~~~'~ ~ffi~e DEC 2 9 200Q JnHPl V^OR4E CITY CLERl., ~0. B~fdD, IH. 1200 COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PHONE 574/235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY HL ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY December 18, 2008 EXECUTIVE DIRECTOR Council Member Derek D. Dieter, Chairperson Community & Economic Development Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Personal Property Tax Abatement Petition for: Fortis Plastics, LLC Dear Council Member Dieter: Please find attached the Department of Community & Economic Development's report on a personal property tax abatement petition for the above-referenced petitioner. Also attached is a copy of the petition, Statement of Benefits form, and supporting information. The project calls for the acquisition and installation of new and used equipment as part of the company's planned renovation of a facility to manufacture of plastic components used in a variety of industrial and consumer applications. The facility is owned by AIC Ventures and will be leased to Fortis Plastics. The facility is located at 3615 Voorde Drive and it has been vacant over one year. Any used equipment acquired would come from outside the State of Indiana. The report contains the Department's findings relative to the above petition. The total cost for the equipment is estimated at $2,218,900. The project meets the qualifications fora (5) five-year personal property tax abatement and a representative from Fortis Plastics will be available to meet with the Committee on Monday, January 12, 2009. Should you or any of the other Council members have any questions concerning the report, or need additional information, please feel free to call me at 235-5835. Sincerely, Bob Mathia Assistant Director, Economic Development Attachments cc: South Bend Common Council Members Mayor Stephen Luecke Jeff Gibney Don Inks COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL 8C PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT 574!235-9660 574/235-9371 ELizAeerH LEONARD FAX: 574/235-9697 5741235-9371 1200 COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PHONE 574/235-9371 Fax 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY ~ ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECUTIVE DIRECTOR TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BOB MATHIA SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: FORTIS PLASTICS, LLC DATE: December 18, 2008 On December 16, 2008, a petition for personal property tax abatement consideration for property located at 3615 Voorde Drive was filed with the City Clerk by Fortis Plastic, LLC. 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 and Economic Development 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 and Economic Development has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT SUMMARY Fortis Plastics and AIC Ventures are proposing to renovate and equip an approximate 92,250 square foot building for the manufacture of plastic components used in a variety of industrial and consumer applications. The building has been vacant over one year. It is owned by AIC Ventures and will be leased to Fortis Plastics. Fortis uses both injection molding and extrusion production systems to produce its plastic products. The company is weighing the consolidation of its existing Elkhart operations to South Bend or to Henderson, Kentucky. The South Bend site requires renovation of the building and installation of equipment. The equipment to be purchased includes new and used plastic injection mold machines and extruders, computers, IT infrastructure and servers. The used equipment would be acquired from outside the State of Indiana. The total cost of the equipment is estimated to be $2,218,900. COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL LC PROGRAM PAMELA C. MHYER DONALD E. INKS MANAGEMENT 5741235-9660 574/235-9371 ELIZABETH LeoNAaD FAX: 574/235-9697 574/235-9371 South Bend Redevelopment Commission RE: Tax Abatement for Fortis Plastics, LLC December 18, 2008 Page 2 The building renovation includes the installation of docks, office build out/remodeling, new sprinkler system installation, electrical upgrades, HVAC improvements and reception area build out. Areal property tax abatement application is being submitted as part of the total project. Total taxes to be abated during the (5) five-year abatement period are estimated at $86,698. Total taxes to be paid during. the (5) five-year abatement period are estimated at $70,013. EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will create twenty (20) new, permanent, full-time jobs within the first year of the project representing a new annual payroll of approximately $1,620,000. The project will retain one hundred twenty-six (126) existing permanent, full-time jobs (of which 21 are minority employees) with an annual payroll of $3,925,900. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted finds that the petitioner has not been granted or associated with any previous tax abatements. However, it has applied for afive-year real property tax abatement along with this application. 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. A review of the South Bend Redevelopment designation areas finds that the property is located in the Airport Economic Development Area, which is a Tax Incremental Allocation Area; therefore, the petition for personal property tax deduction must first be approved by the South Bend Redevelopment Commission. 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications fora (5) five-year personal property tax abatement under section 2-84.2, Tangible Personal Property Tax Abatement. 5 YEAR Fortis Plastics, LLC South Bend Portage Township Personal Property Tax Abatement Schedule* Tax Key Number Current Assessed Value: Estimated Project Cost: 71-03-401-006.000-026 0 2,218,900 22-Dec-08 40% 56% 42°l0 32% 24% Current 100% 80% 60% 40% 20% Assessed Value: AV & Tax Year 1 Year 2 Year 3 Year 4 Year 5 Current Assessed Value 100% 0 0 0 0 0 0 Base Assessed Value 887,560 1,242,584 931,938 710,048 532,536 Less Abatement Deduction (887,560) (994,067) (559,163) (284,019) (106,507) Net Assessed Value 0 0 248,517 372,775 426,029 426,029 Prooerty Taxes: Assume constant tax rate of 4.3015% 4.3015% 4.3015% 4.3015% 4.3015% 4.3015% Gross Tax (tax rate x net assessed value) Less Circuit Breaker Credit Net Tax Circuit Breaker Cap Circuit Breaker Debt Service Circuit Braker Cap 0 0 10,690 16,035 18,326 18,326 0 0 0 0 0 0 0 0 10,690 16,035 18,326 18,326 3.0000% 0 26,627 26,627 26,627 26,627 26,627 0.5477% 0 0 1,361 2,042 2,333 2,333 0 26,627 27,988 28,668 28,960 28,960 New Combined Net Existing Project Existing & New Tax Tax Year Taxes Taxes Taxes Abated Paid 1 0 31,488 31,488 31,488 0 2 0 33,432 33,432 22,742 10,690 3 0 31,731 31,731 15,696 16,035 4 0 30,516 30,516 12,190 18,326 5 0 29,543 29,543 4,581 24,962 Totals 0 156,711 156,711 86,698 70,013 "This schedule is for estimation purposes only and assumes constant tax rates. The true tax values will ultimately be determined by the actual assessed valuation and the then current tax rates. • 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 seq., and South Bend Municipal Code Section 2-84Z, 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 land 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. Fo is nlaati s is an rud .r of Mastic romnonents used in a variety of industrial and consumer 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 ~,¢ _ new, permanent jobs within the first year, representing a new annual payroll of $1,~~ 4 ~~~ and will maintain i~,G existing permanent full-time and o existing part-time jobs representing an annual payroll of $~,~1zf,.vU4 ~~ . 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: 2,10,900 ~ ~~~ are.: ~, z JB,~g ~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) • (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 II~ITEREST 5. Give a brief description of the overall nature of the business and of the operations occurring at the location for which tax abatement is requested: Plastic Infection Molded Products Manufacturing 6. The commonly known address of the property where the Equipment is to be located is:3511-3615 Voorde Drive, South Bend, Indiana • 7. -The Key Number of said property is: 71-03-33-401-006.000-026 8. Attach the legal description of the property where the equipment is to be located, marked "Exhibit A," and is hereby incorporated herein. 9.. Attach a map and/or plat describing the property where the equipment is to be located, marked "Exhibit B," and is hereby incorporated herein. 10. Attach photographs of the property, taken within 30 days of filing of this petition, marked "Exhibit C," and hereby incorporated herein. 11. The current assessed valuation of the tangible personal property to be replaced by the aew manufacturing equipment is $ o (This information may be obtained from the St. Joseph County Assessors office 235-9523) 12. The current use of the real property where the Equipment is to be installed is Vacant Industrial Building and the current zoning is Light Inc (use) and s5 (height and area). (This information may be obtained from the Building Department 235-9553) • (Revised 8/2102) 2 • 13. List the real and personal property taxes paid at the location during the previous five years, whether paid by the current owner or a previous owner: YEAR REAI, PROPERTY TAXES PERSONAL PROPERTY TAXES 2004 92571 2005 58310 91143 2006 61369 105670 2007 59517 102303 (This information may be obtained from the St. Joseph County Treasurers office 235-9531) • 14. Describe the commitment made within the past five years by your firm to hiring minority individuals, including number of minorities employed during each of the past five years, specifying whether full time or part-time and whether permanent or temporary employees. The Petitioner shall also list the current number of total employees (full and part-time) and the current number of minority individuals (full and part-time}. Number of minorities employed in the past three years: 2006 = 106; 2007 = 71; and 2008 = 47 Current number of minority em~yees =21 15. Describe on-site child care or day care facilities, services or benefits. currently offered or proposed to be offered by the Petitioner for children of employees. n/a 16. What is your best estimate of the market value of the new Equipment after installation? $ 2.000,000 17. What is your best-estimate of the amount of taxes to be abated during each of the five years after installation? $ 30,000 18. What is the commitment your firm will make to minority employment during the five years of tax abatement? Company has an established EEO policy which expresses our commitment to provide all associates and applicants equal opportunities, without regards to race, color, religion, sex, na Iona origin, age, isa i i y or ve eran a urr y as approxima e y r~ U (Revised 8/2102) 3 • 19. The Equipment has not been installed as of the date of filing of this petition. (The signature at the end of this Petition is verification of this statement) 20. The standard Industrial Classification Manual major group within which the proposed project would be classified, by number and description: 3082 SIC 32612 NAICS 21. The Internal Revenue Service Code of Principal Business Activity by which the proposed project would be classified, by number and description: 4231000 Motor Vehicle Parts 8~ Supplies; 423990 other Misc Durable Goods ` 22. The real property where the Equipment will be installed is located in the following Allocation Area, if any, declared and confirmed by the South Bend Redevelopment Commission: , Airport 23. Other anticipated public financing for the project including, if any, industrial revenue-bonding to be sought or already authorized, assistance through the • United States Department of Housing and Urban Development funds from the City of South Bend, Small Business Association Sections 503 and 504 financing through the Business Development Corporation of South Bend, Mishawaka, and St. Joseph County, Indiana; or other public financial assistance, including but not limited to public works improvements. n/a 24. Describe how and why the manufacturing equipment to be replaced or the facility in which Equipment will be added is currently technologically, economically or energy obsolete and how and why that obsolescence may lead to a decline in employment and tax revenues: Building currently vacant 25. The new manufacturing equipment will be used in the direct production, manufacture, fabrication, assembly, extraction, mining, processing, refining, or finishing of other tangible personal property and that the equipment was never before used by its owner for any purpose in Indiana. The signature at the end • of this Petition is verification of this statement. (Revised 8~2i02) 4 ii•i~ e . 1 • .~'~aZ1~1~.:~IX;~ii-~~• . ~ ~ 'SI~:~~-'1~1~'Y~1~'~~~' ~ :~ • 7062772 CR0INECHIZEK 05:16:OSp.m. 12-15-2009 616 26. "The following persons} should be contacted as Petitioner's agent regarding additional information and public hearing notil-ications: Name: LSsaMakowald Address' 2965 LaVeMUre Place city, State, Zip Code: Epchart.lN 46514 Telephone: t5ra}9~o-9.477 • • WHEREFORE, Petitioner requests that the Common Council of the City of South Bend, Indiana, adopt a declaratory resolution designating the area described herein to be an economic revitalization area for purposes of tangible personal property tax abatement consideration, and after publication of notice and public hearing, determine qualifications for an economic revitalization area have been met, and confirm such resolution. Petitioner herein hereby verities that the required 5250.00 filing fee to cover processing and administrative costs pursuant to Section 2-84.7 of the Municipal Code of the City of South Bend has been paid in full. (Revisod 8/2/()21 Name of Property Owners}: Forth Plastics LLC (Lessee} gy: ( lgned Name} LFSa Makowski (Typed or printed name and capaeity of signor if signed by an agent or representative of tt+e owner) Record Description The land referred to herein below in the County of St. Joseph, State of Indiana, and is described as follows: Lead Situated in the State of Indiana, County of St, Joseph, City of South Bend. PARCEL I: A portion of the East 'h of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian, and a part of the City of South Bend, in St. Joseph County, Indiana, more particularly described as follows: Commencing at the Northeast corner of the Southeast Section 33, thence South 0 degrees, 07 minutes, 29 seconds West, along and with the East line of said Southeast Quarter of Section 33, a distance of 815.52 feet; thence North 89 degrees 40 minutes 09 seconds West, a distance of 1,348.23 feet to the intersection of the Northerly Right- of-Way line of Voorde Drive and the Westerly Right-of--Way line of proposed Progress Drive, said point being the point of beginning; thence North 0 degrees 19 minutes 51 seconds East, along and with the said Westerly Right-of--Way line of proposed Progress Drive, a distance of 455.00 feet; thence North 89 degrees 40 minutes 09 seconds West, along a line parallel with the Northerly Right-of--Way line of Voorde Drive, a distance of 250.00 feet; thence South 0 degrees 19 minutes 51 seconds West, a distance of 455.00 feet to a point on the Northerly Right-of--Way line of Voorde Drive; thence South 89 degrees 40 minutes 09 seconds East, along and with the Northerly Right-of--Way line of Voode Drive, a distance of 250.00 feet to the place of beginning. PARCEL II: A portion of the Southeast'/ of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian, in and part of the City of South Bend, in St. Joseph County, Indiana, more particularly described as follows: Commencing at a brass plug at the center of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian; thence South 0 degrees O1 minutes 14 seconds West, a distance of 814.60 feet to the North line of Voorde Drive projected West; thence South 89 degrees 40 minutes 09 seconds East, on and along the said North line of Voorde Drive, a distance of 737.20 feet to the point of beginning; thence North 0 degrees 18 minutes 51 seconds East, a distance of 455.00 feet; thence South 89 degrees 40 minutes 09 seconds East, a distance of 302.21 feet; thence South O1 degrees 18 minutes 51 seconds West, a distance of 455.00 feet to the North line of said Voorde Drive; thence North 89 degrees 40 minutes 09 seconds West, a distance of 302.21 feet to the place beginning. EXCEPTING THEREFROM the following described real estate: A portion of the Southeast '/ of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian, in and part of the City of South Bend, in St. Joseph County, Indiana, more particularly described as follows: Commencing at a brass plug at the center of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian; thence South 0 degrees O1 minutes 14 seconds West, a distance of 814.60 feet to the North line of Voorde Drive projected West; thence South 89 degrees 40 minutes 09 seconds East, on and along the said North line of Voorde Drive, a distance of 737.20 feet; thence North 0 degrees 18 minutes 51 seconds East, a distance of 217.02 feet, along the West property line of Norman F. Ernsberger and Lavern D. Jessup, a General Partnership; thence South 89 degrees 40 minutes 09 seconds East, a distance of 30.24 feet to the Northwest corner of a existing building, said Northwest corner being the point of beginning for this description; thence continuing South 89 degrees 40 minutes 09 seconds East, along the North wall of said existing building, a distance of 161.00 feet; thence North 0 degrees 18 minutes 51 seconds East, a distance of 134.28 feet; thence North 89 degrees 40 minutes 09 seconds West, a distance of 161.00 feet; thence South 0 degrees 18 minutes 51 seconds West, a distance of 134.28 feet to the point of beginning. PARCEL III: A portion of the Southeast % of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian, in and part of the City of South Bend, in St. Joseph County, Indiana, more particularly described as follows: Commencing at a brass plug at the center of Section 33, Township 38 North, Range 2 East of the Second Principal Meridian; thence South 0 degrees O1 minutes 14 seconds West, a distance of 814.60 feet to the North line of Voorde Drive projected West; thence South 89 degrees 40 minutes 09 seconds East, on and along the said North line of Voorde Drive, a distance of 737.20 feet; thence North 0 degrees 18 minutes 51 seconds East, a distance of 217.02 feet, along the West property line of Norman F. Ernsberger and Lavern D. Jessup, a General Partnership; thence South 89 degrees 40 minutes 09 seconds East, a distance of 30.24 feet to the Northwest corner of a existing building, said Northwest corner being the point of beginning for this description; thence continuing South 89 degrees 40 minutes 09 seconds East, along the North wall of said existing building, a distance of 161.00 feet; thence North 0 degrees 18 minutes 51 seconds East, a distance of 134.28 feet; thence North 89 degrees 40 minutes 09 seconds West, a distance of 161.00 feet; thence South 0 degrees 18 minutes 51 seconds West, a distance of 134.28 feet to the point of beginning. Tax Identification Number(s): Parcel I: 018-2184-693816 New Parcel #71-03-33-401-006.000-026 Parcel II: 018-2184-693805 New Parcel #71-03-33-401-007.000-026 Parcel III: 018-2184-693817 New Parcel #71-03-33-401-008.000-026 Street Address: 3511 - 3615 W. 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' .. ~ - ~ ~ -Y - I ---~ ''--- ---------- ~~ ~ 0 `~--~. ~ - A37 eet Map provided by The City of South Bend GIS -2007 ~ - II Property 1 B-2164-693816 3615 Voorde Dr Owner Capitol Technologies Inc South Bend IN 46628 The City of South Bend Bureau of GIS Online Mapping .,w *n,G ;J~ ~ rG c y w.n ~ 'y ~ 14~ 0 http://s outhbend.in.schneidercrorp.com/Ris/print/41.asp?DETAIL=YES&PIN=18-2184-69... 10/22/2008 EXHIBIT C Fortis Plastics EXHIBIT C Fortis Plastics ._ __-r~. EXHIBIT D Estimated Investment Projections Fortis Plastics New Equipment List & Installation Estimates 2009 New Chiller & Powder Twin Screw Extruder $ 350,000.00 New Silos $ 175,000.00 2010 New Powder Twin Screw Extruders; $ 260,000.00 Rebuilds and repairs $ 375,000.00 New Extruders/Downstream Equipment $ 260,000.00 2011 New Extruders/Downstream Equipment $ 750,000.00 Silos $ 2,170,000.00 Building Improvements Estimates 2009 Modifications/ Improvements $ 60,000.00 Offices Buildout/remodeling for HQ $ 50,000.00 Lobby Reception area buildout $ 5,000.00 Electrical/Wiring Offices $ 8,000.00 Sprinkler System $ 145,000.00 Loading Docks/ Bays new doors, concrete $ 310,000.00 and mechanical work Electrical work building and equipment $ 612,000.00 connections Mechanical -air/water piping, hvac $ 87,000.00 $1,277,000.00 Job Classification Projected Retained Headcount Average Annual Wages Hourl Positions 131 29,000 Salaried Positions 33 59,000 Head uarters Positions 20 81,000 Totals 184 Employment Hourly Positons Salaried Positions Total Employment Potential Jobs Production Manufacturing Headquarters/Back Office TOTALS Manufacturing and Headquarters 2009 2010 2011 2012 2013 Total 97 104 112 121 131 131 29 31 32 33 33 33 126 135 144 154 164 164 126 135 144 154 164 164 20 0 0 0 0 20 146 135 144 154 164 184