Confirming Tax Abatement - 2722 Tucker Drive - Steel Warehouse Company LLC

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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, etet seg•, and South Bend Municipal Code Section 2-84.2, et sea., for this petition states the following: 1. Describetheproposedproject,includinginformationaboutthenewmanufacturingequipment 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. The project involves acquisition of equipmentformanufacturing,servicing, processingandmaterialhandlingofsteelandsteel products, having a total cost expected to be from $2.5 million to $S. 0 million. The project wild enable Petitioner to add capacity to and to modernize its existing manufacturing equipment and facilities 2. It is anticipated that the project will create up to five (5) new permanent full time j obs, which would represent a new annual payroll of$156, 000 and will help Petitionerto maintain its 446 existing permanent full time representing an annual payroll of $20, 605, 400. The projected annual salaries for each position are as follows: An average of $15.00 per hour 3. Estimate the total cost of the Equipment: A minimum of $2.5 million and a maximum of $S.0 million. 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): Inapplicable NAME ADDRESS INTEREST Steel Warehouse Company LLC 2722 W. Tucker Drive Owner and Aff liates South Bend, IN 46619 and Equipment Lessors (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): Inapplicable NAME ADDRESS INTEREST 5. Give a brief description ofthe overall nature of the business and of the operations occurring at the location for which tax abatement is requested: Petitioner is a steel service center specializing in flat rolled, law carbon steel, with operations irrvolving slitting, leveling, pickling, temper rolling shearing and cold reducing. Petitioner also supplies profiling parts through its plasma and laser cutting operations. In connection with its operations, Petitioner takes substantial positions in steel and steel products for the future sale and marketing of the same to its customers. 6. The commonly known address of the Property where the Equipment will be located are: 2722 W. Tucker Drive, South Bend, Indiana 7. The Key Numbers of said property are: 18-8075 - 2838; 2839; 2843; 2844.03; 2844.04; 2844.06; 2845.01; 2845.02; 2845.03. 8. Attach the legal description of the Properties where the Equipment is to be located, marked