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HomeMy WebLinkAboutConfirming Tax Abatement - 1400 W Riverside Dr. (5yr.pp) Steel WarehouseRESOLUTION 4054-10 Passed by the Common Council of the City of South Bend, Indiana October 11, Attes City Clerk mac. Ident of Common Council Presented by me to the Mayor of the City of South Bend, Indiana 10 20 October 12, 20 10 Approved and signed by me Cl r t_ n h A r ]„~ 20l 0 `"`, i p Gi.c. C/,K.G City Clerk RESOLUTION NO. ~.~5 ~ -"~~ A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 1400 WEST RIVERSIDE DRIVE TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR STEEL WAREHOUSE COMPANY, LLC and AFFILIATES and EQUIPMENT LESSORS 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 1400 West Riverside Drive, South Bend, Indiana; and which is more particularly described as follows: Beginning at the Southeast corner of the Southwest'/< of said, section 35; thence South 89 49' S2" West (bearing assumed) along the South line of said section, 308.97 feet; thence North 89 55' 00" West, 116.24 feet; thence North 00 00' 27" West, 12.00 feet to the North line of a 12 foot alley; thence North 89 55' 00" West along said North line of alley; the East line of Kessler Boulevard, 128.00 feet South 89 55' 18" East of the Northeast addition to the City of South Bend recorded April 6, 1906 in the Plat Book 0, pages 30 and 31; thence South 89 55' 18" East along the South line of King Street, 352.84 feet; thence North 00 00' 27" West, 194.85 feet to a point the centerline of the East and West 14 foot alley between King Street and McCartney Street produced East; thence North 00 06' 09" East, 128.81 feet; thence North 89 46' 49" East 287.05 feet to the Westerly line of Riverside Drive; thence South 16 37' 15" West along a chord subtending said Westerly line of Riverside Drive, 455.43 feet to the South line said section 35; thence North 90 00' 00" West along said South line, 156.71 feet to the point of the beginning. Commencing at the Southeast corner of the '/4 of said section 35; thence North 00 00' 30" West (bearing assumed) along the East line of said Southwest '/< a distance of 463.14 feet to the Point of Beginning for the following described tract; thence continuing North 00 00' 30" West along said East line 336.00 feet to the South line of Queen Street; thence South 89 56' 09" West along said South line of Queen Street 176.60 feet, thence North 00 02' 36" Est. 195.00 feet to the centerline of the East and West 14 foot alley between Kinyon Street and Queen Street; thence South 89 56' 09" West along said centerline of alley, 131.27 feet; thence South 00 06' 09" West along the East line of Lot 145 in the Third Plot of Northwest Addition recorded March 7, 1907 in Plat Book 9, page 60 in the Office of the St. Joseph County Recorder and its Northerly and Southerly extensions, 195.00 feet to the South line of Queen Street; thence South 89 56' 09" West along Allen Street; thence South 00 OS' S 1" West along said East line of Allen Street, 329.87 feet to the South line of McCartney Street; thence South 89 58' 27" East along said South line of McCartney Street, 12.91 feet; thence South 00 06' 09" West 6.11 feet; thence North 89 56' 09" East 308.71 feet to the Point of Beginning. and which has Tax Key Numbers 018-2110-4065 and 18-2110-4067, 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 (5) five 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~,rl--i~ et seg. SECTION III. This Resolution shall be in full force and ect ~rcl}n and after its adoption by the Common Council and approved by the Mayor. / I OT ~.PPROVEQ AOt~PiE~ t p--~ t-LCD Fi,,~~, ~~ ~1~r'c':': ~j~~ice SEP 2 8 2010 dONN VOORDF CITY CLER}C, S0. BEND, iN. September 2, 2010 Council Member Timothy Rouse, 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; STEEL WAREHOUSE COMPANY, LLC and AFFILIATES and EQUIPMENT LESSORS (1400 W. Riverside Dr. ) Dear Council Member Rouse: 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 various kinds of metal working equipment to be located at 1400 West Riverside Drive. The report contains the Department's findings relative to the above petition. The total cost for the equipment is estimated at between $2,400,000 and $3,000,000. The project meets the qualifications for a (5) five-year personal property tax abatement and a representative from Steel Warehouse Company will be available to meet with the Committee on Monday, September 27, 2010. 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 235-9278. Sincerely, Kathy Hahn Economic Development Specialist Attachments cc: South Bend Common Council Members Mayor Stephen Luecke Jeff Gibney Don Inks TAX ABATEMENT REPOR T TO: SOUTH BEND COMMON COUNCIL FROM: KATHY HAHN SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: STEEL WAREHOUSE CO., LLC and AFFILIATES and EQUIPMENT LESSORS (1400 W Riverside Dr. ) DATE: September 2, 2010 On September 1, 2010, a petition for personal property tax abatement consideration for property located at 1400 West Riverside Drive was filed with the City Clerk by Steel Warehouse Company, 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, investigated the area, and makes the following report. PROJECT SUMMARY Steel Warehouse is a steel service center focusing on flat rolled, low carbon steel, with operations involving slitting, leveling, pickling, temper rolling, shearing and cold reducing. The company also supplies profiling parts using its plasma and laser cutting operations. In connection with its operations the company takes substantial positions in steel products for future sale and marketing of same to its customers. Under the proposed project Steel Warehouse will add laser cutting and material handling capacity for its existing and expanding customer base. South Bend Common Council RE: Tax Abatement for Steel Warehouse Company, LLC September 2, 2010 Page 2 The total estimated cost of the equipment is $2,400,000 to $3,000,000. Depending on the final value of the equipment to be procured total taxes to be abated during the (5) five-year abatement period are estimated to be between $55,746 and $77,809. Total additional taxes to be paid as a result of the project during the five-year abatement period are estimated to be between $163,197 and $203,997. EMPLOYMENT IMPACT Per the petition, it is estimated that the project will create seven (7) to nineteen (19) new, permanent full-time positions with an annual payroll of $212,700 to $582,864. The project will also maintain four (4) existing permanent full-time positions with a total annual payroll of $133,120. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted finds that the petitioner has been granted or been associated with the previous tax abatements listed below. In addition, at this time the company is also petitioning for a personal property tax abatement at its 2722 W Tucker Dr. location. Term/Tme Resolution No. Date 5 year personal property 1169-84 June 25, 1984 5 year personal property 1432-86 Sept. 8, 1986 5 year personal property 1674-88 Nov. 28, 1988 10 year real property 1964-92 July 27, 1992 5 year personal property 1965-92 July 27, 1992 10 year real property 2157-94 July 11, 1994 5 year personal property 2158-94 July l 1, 1994 10 year real property 2371-96 June 24, 1996 5 year personal property 2372-96 June 24, 1996 10 year real property 2496-97 August 25, 1997 5 year personal property 2495-97 August 25, 1997 5 year personal property 2714-99 March 22, 1999 10 year real property 2798-99 Oct.l 1, 1999 5 year personal property 2896-00 June 26, 2000 10 year real property 2895-00 June 26, 2000 5 year personal property 3035-01 Sept. 24, 2001 South Bend Common Council RE: Tax Abatement for Steel Warehouse Company, LLC September 2, 2010 Page 3 10 year real property ~ 3036-01 5 year personal property 3380-04 5 year real property 3381-04 5 year personal property 3382-04 5 year personal property 3791-07 5 year personal property 3792-07 5 year personal property 3793-07 5 year personal property 3995-09 Sept. 24, 2001 Sept. 27, 2004 Sept. 27, 2004 Sept. 27, 2004 Sept. 24, 2007 Sept. 24, 2007 Sept. 24, 2007 Oct. 26, 2009 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 not located in any Tax Incremental Allocation Areas; therefore, no action, is required 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 for the 1400 W Riverside Drive location. 5 YEAR Steel Warehouse South Bend Portage Township Personal Property Tax Abatement Schedule' Tax Key Number 343;2844.03;2844.04;2844.06;2845.01;2845.02;2845.03 Current Assessed Value: 1,134,980 Estimated Project Cost: 2,400,000 9-Sep-10 40% 56% 100% 80% Year1 Year2 Assessed Value: Current Assessed Value Base Assessed Value Less Abatement Deduction Net Assessed Value Prooertv Taxes: Assume constant tax rate of Gross Tax (tax rate x net assessed value) Less Circuit Breaker Credit Net Tax Circuit Breaker Cap Circuit Breaker Debt Service Circuit Braker Cap 42% 32% 24% 60% 40% 20% Year3 Year4 Years Current AV & Tax Pav 2011 Pav 2012 Pav 2013 Pay 2014 Pav 2015 100% 1,134,980 1,134,980 1,134,980 1,134,980. 1,134,980 1,134,980 960,000 1,344,000 ~ 1,008,000 768,000 576,000 (960,000) (1,075,200) (604,800) (307 200) (115 200) 1,134,980 1,134,980 1,403,780 1,538,180 1,595,780 1,595,780 4.4598% 4.4598% 4.4598% 4.4598% 4.4598% 4.4598% 50,618 50,618 62,606 68,600 71,169 71,169 (10,836) 0 0 0 (6 019) (11 779) 39,782 50,618 62,606 68,600 65,150 59,390 3.0000% . 34,049 62,849 74,369 64,289 57,089 51,329 0.5051% 5,733 5,733 7,090 7,769 8,060 8,060 39,782 68,582 81,460 72,059 65,150 59,390 New Combined Net Existing Project Existing ~ New Tax Tax Year Taxes Taxes Taxes Abated Paid Pay 2011 39,782 33,649 73,431 22,813 50,618 Pay 2012 39,782 47,109 86,891 24,285 62,606 Pay 2013 39,782 35,331 75,114 6,514 68,600 Pay 2014 39,782 26,919 66,701 1,552 65,150 Pay 2015 39,782 20,189 59,972 582 59,390 Totals 198,911 163,197 362,108 55,746 306 363 *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. 5 YEAR Steel Warehouse South Bend Portage Township Personal Property Tax Abatement Schedule" Tax Key Number 343;2844.03;2844.04;2844.06;2845.01;2845.02;2845.03 Current Assessed Value: 1,134,980 Estimated Project Cost: 3,000,000 9-Sep-10 40% 56% 42% 32% 24% 100% 80% 60% 40% 20% Year 1 Year 2 Year 3 Year 4 Year 5 Current Assessed Value: AV & Tax Pav 2011 Pav 2012 Pav 2013 Pav 2014 Pav 2015 Current Assessed Value 100% 1,134,980 1,134,980 1,134,980 1,134,980 1,134,980 1,134,980 Base Assessed Value 1,200,000 1,680,000 1,260,000 960,000 720,000 Less Abatement Deduction (1,200,000) (1,344,000) (756,000) (384 000) (144 000) Net Assessed Value 1,134,980 1,134,980 1,470,980 1,638,980 1,710,980 1,710,980 Prooertv Taxes: Assume constant tax rate of 4.4598% 4.4598% 4.4598% 4.4598% 4.4598% 4.4598% Gross Tax (tax rate x net assessed value) Less Circuit Breaker Credit Net Tax Circuit Breaker Cap Circuit Breaker Debt Service Circuit Braker Cap 50,618 50,618 65,603 73,095 76,306 76,306 (10,836) 0 0 • 0 (4 815) (12 015) 39,782 50,618 65,603 73,095 71,492 64 292 3.0000% 34,049 70,049 84,449 71,849 62,849 55,649 0.5051% 5,733 5,733 7,430 8,278 8,642 8,642 39,782 75,782 91,879 80,128 71,492 64,292 New Combined Net Existing Project Existing 8 New Tax Tax Year Taxes Taxes Taxes Abated Paid Pay 2011 39,782 42,061 81,843 31,226 50,618 Pay 2012 39,782 58,886 98,668 33,065 65,603 Pay 2013 39,782 44,164 83,946 10,851 73,095 Pay 2014 39,782 33,649 73,431 1,940 71,492 Pay 2015 39,782 25,237 65,019 727 64,292 Totals 198,911 203,997 402,908 77,809 325 099 '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 {.C.~ 6-1.1- 12.1, et seq., and South Bend Municipal Code Section 2.84-2, et seQ., for this position 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. Petitioner plans to acquire and install new equipment for manufacturing, servicing, processing and material handling of steel and steel products. The project will allow the Petitioner to continue service expanding requirements of certain markets as well as reach other markets for its products. 2. The project will create 7 to 19 new, permanent jobs within the first year, representing a new annual payroll of $212,700 to $582,864.8 and will maintain at least four existing permanent full-time and _ existing part-time jobs representing an annual payroll of $133,120. The projected annual salaries for each new position created are estimated to be as follows: Laser operator $30,864 per year; Crane operator $30,864 per year; Material handling specialist $30,864 per year; Inside sales person $32,000 per year. This does not include performance incentives and benefits including participation in Petitioner's 401K plan and health insurance plan, and paid holidays and vacations. 3. Estimate the total cost of the Equipment: $2,400,000-$3,000,000 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 Steel Warehouse Company LLC 2722 W. Tucker Drive SB, IN 100% Affiliates and Equipment Lessors (b) The following other persons lease, intend to lease, or have an option to buy this Equipment (including corporate information as required in (4)(a) above, if applicable): n/a NAME ADDRESS INTEREST 1 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: Petitioner is a steel service center specializing in flat rolled, low carbon steel and steel plate, wiht operations involving slitting, leveling, pickling, temper rolling, shearing and cold reducing. Petitioner also supplies profiling parts using plasma and laser cutting operations. In connection with its operations Petitioner takes substantial positions in steel products for the future sale and marketing of its products to its customers. 6. The commonly known address of the property where the Equipment is to be located is: 1400 W. Riverside Drive, South Bend, IN 7. The Key Numbers of said property are: 018-2110-4065 and 18-2110-4067 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 the filing of this petition, marked "Exhibit C",and is hereby incorporated herein. 11. The current assessed valuation of the tangible personal property to be replaced by the new manufacturing equipment is. n/a (This information may be obtained from the St. Joseph County Assessors office 235-8523) 12. The current use of the real property where the Equipment is to be installed is E Heavy Industrial and the current zoning is _ (use) F (height and area). (This information may be obtained from the Building Department 235-9553). 13. List the real and personal property taxes paid at the location during the previous five years, whether paid by the current owner of a previous owner. YEAR 2009 payable 2010 2008 payable 2009 2007 payable 2008 2006 payable 2007 2005 payable 2006 REAL PROPERTY TAXES $31,484,28 $31,965.48 $33,209.39 $31,950.96 $32,863.56 PERSONAL PROPERTY TAXES $0 $0 $0 $0 $0 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). 2 Petitioner now and in the past has maintained a policy of hiring and promoting without discrimination with respect to race, creed, color or gender. The number of minority full-time employees of Petitioner for the years 2005-2009 is as follows: 2005129 minorities out of 457 total 2006128 minorities out of 445 total 2007129 minorities out of 458 total 2008131 minorities out of 506 total 2009 99 minorities out of 419 total 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. None 16. What is your best estimate of the market value of the new Equipment after installation? $2,400,000 to $3,000,000 17. What is your best estimate of the amount of taxes to be abated during each of the five years after installation? Yr1: $33,600 to $42,000; Yr2: $37,632 to $47,040; Yr3: $21,168 to $26,460; Yr4: $10,752 to $13,440; YrS: $5,040 to $6,300 18. What is the commitment your firm will make to minority employment during the five years of tax abatement? Petitioner will continue to hire qualified applicants without regard to race, creed, color or gender. 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: Major Group 33: Primary Metal Industries 21. The Internal Revenue Service Code of Principal Business Activity by which the proposed project would be classified, by number and description: 5050 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: 23. Other anticipated public financing for the project including, if any, industrial revenue- bonding to be sought or already authorized, assistance through the United Stated 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. Petitioner may seek job training assistance for some of the additional personnel to be hired. 3 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: n/a 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. 26. The following person(s) should be contacted as Petitioner's agent regarding additional information and public hearing notifications: Name: Gerald F. Lerman Address: 2722 W. Tucker Drive City, State, Zip Code: South Bend, IN 46619 Telephone: (574) 236-5100 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 verifies that the required $250.00 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. Name of Property Owner(s): Steel Warehouse Company LLC (Signed Name) Gerald F. Lerman (Typed or printed name and capacity of signor if signed by an agent or representative of the owner) (tangible personal prop jun 2010) ~i~"A~ BIZ ~`+~,~'r ~~~tC~ SEP - 1 ~Jl~ 4 dQ~lt: VO~R~E CITY CLrRY., ~0. EcND,1N. Exhibit A Beginning at the Southeast comer of the Southwest'/4 of said, section 35; thence South 89 49'52" West (bearing assumed) along the South line of said section, 308.97 feet; thence North 89 55'00" West, 116.24 feet; thence North 00 00'27" West, 12.00 feet to the North line of a 12 foot alley; thence North 89 55' 00" West along said North line of alley; the East line of Kessler Boulevard, 128.00 feet South 89 55' 18" East of the Northeast addition to the City of South Bend recorded Apri16, 1906 in Plat Book 0, pages 30 and 31; thence South 89 55' 18" East along the South line of King Street, 352.84 feet; thence North 00 00'27" West, 194.85 feet to a point the centerline of the East and 'West 14 foot alley between King Street and McCartney Street produced East; thence North 00 06'09" East, 128.81 feet; thence North 89 46'49" East 287.05 feet to the Westerly line of Riverside Drive; thence South 16 37' 15" West along a chord subtending said Westerly line of Riverside Drive, 455.43 feet to the South line said section 35; thence North 90 00'00" West along said South line, 156.71 feet to the point of the beginning. Commencing at the Southeast corner of the'/4 of said section 35; thence North 00 00'30" West (bearing assumed) along the East line of said Southwest 1/4 a distance of 463.14 feet to the Point of Beginning for the following described tract; thence continuing North 00 00'30" West along said East line 336.00 feet to the South line of Queen Street; thence South 89 56'09" West along said South line of Queen Street 1'16.60 feet, thence North 00 02'36" Est. 195.00 feet to the centerline of the East and West 14 foot alley between Kinyon Street and Queen Street; thence South 89 56'09" West along said centerline of alley, 131.27 feet; thence South 00 06'09" West along the East line of T,ot 145 in the Third Plot of Northwest Addition recorded March 7, 1907 in Plat Book 9, page 60 in the Office of the St. Joseph County Recorder and its Northerly and Southerly extensions, 195.00 feet to the South line of Queen Street; thence South 89 56'09" West along Allen Street; thence South 00 05'51" West along said East line of Allen Street, 329.87 feet to the South line of McCartney Street; thence South 89 58'27" East along said South line of McCartney Street, 12.91 feet; thence South 00 06'09" VrVest 6.11 feet; thence North 89 56'09" East 308.71 feet to the Point of Beginning. F;;^~ in Clerk's Office SEP - 1 ZOI~ S(;§'?~ b't3~7R~E CITY ~t::.,_~ '~-~`,' B"i~D