HomeMy WebLinkAbout19-07 SWGS Properties, LLC Designating Vacant Building Tax Abatement Filed in Clerk's Office
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KAREEMAH FOWLER
I '/ CITY CLERK,SOUTH BEM),IN
CITY OF SOUTH BEND
COMMUNITY INVESTMENT
JAMES MUELLER, EXECUTIVE DIRECTOR
January 22,2019
Council Member Gavin Ferlic,Chairperson
Community Investment Committee
South Bend Common Council
4th Floor,County City Building
South Bend,IN 46601
RE: Vacant,Real&Personal Property Tax Abatement Petition for: SWGS Properties,LLC
Dear Council Member Ferlic:
Please find the attached information pertaining to a vacant,real and personal property tax abatement petition
submitted by SWGS Properties, LLC to purchase a vacant building located at 2920 W Sample St. South
Bend,IN 46619 and new equipment for fabrication of steel products.The business,a distributor for hot and
cold rolled metal products for steel industry, was formed in 2015 and has overgrown its existing facility
10,000 sq ft in Mishawaka,IN.This petition package includes:
> Department of Community Investment's summary report
> Petition
➢ Statement of Benefits forms(Vacant Building,Real and Personal properties)
> Supporting information
The report contains the Department's findings relative to the above petition. The petitioner proposes to
purchase the vacant building for$765,000, invest in its renovation approximately$500,000 and purchase
new equipment with estimated cost of$700,000. A total project cost is approximately $2,000,000. A
representative from SWGS Properties, LLC will be available to meet with the Committee on Monday,
January 28,2019.
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 235-5823.
Sine rely,
010
Dani. quc e 4 er
Director,Business Development
DANIEL j.BUCKE.VMEYER ALKEYNA ALDRIDGE PASIEL',MEYER TIM CORCORAN
BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOwEFU ENT NEIGHBORHOOD DEVELOPMENT PLANNING&COMMUNITY RESOURCES
EXCELLENCE I ACCOUNTABILITY I INNOVATION ; INCLUSION I EMPOWERMENT
1400S County-City Building;227 W.Jefferson Blvd.j South Bend,Indiana 466011p 574.235.9371 I www.southbendin.gov
Filed in Clerks Office
JAN 2.3 2019
TAX ABATEMENT REPO KAREEMAI-i FOWLER
CITY CLERK,SOUTH BEND,IN
TO: South Bend Common Council
FROM: Daniel Buckenmeyer,Director of Business Development
SUBJECT: VACANT, REAL & PERSONAL PROPERTY TAX ABATEMENT
PETITION FOR:
SWGS Properties,LLC
DATE: January 23, 2019
On Monday, January 14, 2019, a petition from SWGS Properties, LLC was received and
subsequently filed with the City Clerk for vacant,real and personal property tax abatements
consideration for property located at 2920 W Sample Street, South Bend, IN 46619.
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 purchase price of$765,000 with an additional$500,000 in planned private
investment for building upgrades to operate a manufacturing and distribution
facility including modem roof, flooring, and loading docks.
> There are two parcels including a vacant building and land that have not been
utilized for close to 5 years. Currently, the building has leaks and requires
immediate repairs and renovation.
> Additional private investment in personal property/capital equipment with purchase
price of$700,000.The industrial equipment is for forming hot and cold rolled metal
products.
> Estimated taxes phase-in and paid:
Property Estimated Total Taxes Est.Taxes Phase-In Est.Taxes Paid
Vacant—6Y $125,569 5104,096 $21,473
Renovation-6Y $82,952 $68,767 $14,185
Equipment—5Y $60,437 $40,119 $20,318
Total: $268,958 $212,982 $55,976
EMPLOYMENT IMPACT
Per this petition, it is estimated that the company will:
➢ Bring four (4) permanent full-time jobs representing a total annual payroll of
$160,576 to South Bend. The hourly average wage is$19.30.
➢ Create sixteen (16) new permanent, full-time jobs within first four years with a
total estimated annual payroll of$624,000. The estimated hourly average wage is
$18.75.
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted, finds that the petitioner has not
been granted or associated with previous abatements.
2. The Area Plan Commission 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 River West Development Area.
4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner
meets the qualifications for a six(6)year vacant building,a six(6)year real property
and five (5) year personal tax abatements under section 2-82.1, Industrial
development in Urban Enterprise Zone and Redevelopment Blighted Areas, and
section 2-84.2,Tangible Personal Property Tax Abatement.
Filed in Clerk's Office
r_71
j
KAREERAAH FOWLER
CITY CL ERK,SOUTH SEND.IN
BILL NO. 19-07
RESOLUTION NO.
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
2920 W Sample Street, South Bend, IN 46619
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
SIX (6) YEAR VACANT BUILDING TAX ABATEMENT FOR
SWGS Properties, LLC
WHEREAS, a petition for real property tax abatement consideration has been filed with
the City Clerk for consideration by the Common Council of the City of South Bend, Indiana,
requesting that the area commonly known as 2920 W Sample Street, South Bend, IN 46619 and
which is more particularly described as:
400' On Sample Beg 330' E & 35' S Nw Cor Nw Sec 15-37-2e
and which has Key Numbers 018-8075-282401 be designated as an Economic Revitalization Area
under the provisions of Indiana Code 6-1.1-12.1 et sec., and South Bend Municipal Code Sections
2-76 et seg., and;
WHEREAS,petitioner has agreed to and has accepted responsibility to report any changes
in the final legal description and to report the final, appropriate Key Number to the Department of
Community Investment and to the Office of the City Clerk; and
WHEREAS,the Department of Community Investment has concluded an investigation and
prepared a report with information sufficient for the Common Council to determine that the area
qualifies as an Economic Revitalization Area under Indiana Code 6-1.1-12.1, et secq., and South
Bend Municipal Code Sections 2-76, et q., and has further prepared maps and plats showing the
boundaries and such other information regarding the area in question as required by law; and
WHEREAS,the Community Investment Committee of the Common Council has reviewed
said report and recommended to the Common Council that the area qualifies as an Economic
Revitalization Area.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby determines and finds that the Petition for Real Property
Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the
requirements of Indiana Code § 6-1.1-12.1 et seq., for tax abatement.
SECTION II. The Common Council hereby determines and finds the following:
A. That the description of the proposed redevelopment or rehabilitation meets the
applicable standards for such development;
B. That the estimate of the value of the redevelopment or rehabilitation is reasonable
for projects of this nature;
C. That the estimate of the number of individuals who will be employed or whose
employment will be retained by the Petitioner can reasonably be expected to result from the
proposed described redevelopment or rehabilitation;
D. That the estimate of the annual salaries of those individuals who will be employed
or whose employment will be retained by the Petitioner can be reasonably expected to result from
the proposed redevelopment or rehabilitation;
E. That the other benefits about which information was requested are benefits that can
be reasonably expected to result from the proposed described redevelopment or rehabilitation; and
F. That the totality of benefits is sufficient to justify the requested deduction, all of
which satisfy the requirements of Indiana Code § 6-1.1-12.1-3.
SECTION III. The Common Council hereby determines and finds that the proposed described
redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the
Statement of Benefits, Sections 1 through 3 of the Petition for Vacant Building Tax Abatement
Consideration and the Memorandum of Agreement between the Petitioner and the City of South
Bend, and that the Statement of Benefits form completed by the petitioner, said form being
prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under
Indiana Code § 6-1.1-12.1-3.
SECTION IV. The Common Council hereby accepts the report and recommendation of the
Community Investment Committee that the area herein described be designated as an Economic
Revitalization Area and hereby adopts a Resolution designating this area as an Economic
Revitalization Area for purposes of real property tax abatement.
SECTION V. The designation as an Economic Revitalization Area shall be limited to three (3)
calendar years from the date of the adoption of this Resolution by the Common Council.
SECTION VI. The Common Council hereby determines that the property owner is qualified for
2
and is granted vacant building property tax deduction for a period of six (6) years outlined below
as well as shown by the attachment pursuant to Indiana Code 6-1.1-12.1-17.
Year 1 - 100%
Year 2 - 100%
Year 3 - 95%
Year 4 - 90%
Year 5 - 80%
Year 6 - 70%
SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of
this Declaratory Resolution for a Vacant Building Real Property Tax Abatement to be published
pursuant to Indiana Code § 5-3-1 and Indiana Code § 6-1.1-12.1-2.5, said publication providing
notice of the public hearing before the Common Council on the proposed confirming of said
declaration.
SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approval by the Mayor.
Tim Scott, Council President
South Bend Common Council
3
City of South Bend .,
Petition for Incentives
Sl •
Petition must Include a$250 filing fee payable to the City Clerk's Office or online via the City's website at
httpf/southbendln.gov/povernment/content/tax-abatement before processing can be complete ~ '
General Information Project Name Project Number IEDC#420573
Legal
SWLcnalsteasregistaredwith Secretaryof Grace Steel Corporation (Adding Grace Steel, LLC in coming days with Tax FEIN)
e spat strutture Grace Steel LLC would be Joint Venture with Steel Warehouse (Female Owned)
Compa r4 wabsfta
www.gracesteelservice.com `"'G S /'/�U�,Les L_e_ C.
Propo,ed Project Information
P:cposw'pro}ect address 2920 West Sample St Parent company name Grace Steel Corporation
city,scale,zip South Bend, IN 46619 Legal ovine. Pam Andre(Female owned)
Site acreage.or acreage requited Is the real acme owned or Would be Owned
le ac's
Square eel of facility73,000 If leased by v;horn
Prima'y Contact Information
Primary company contact name TRIC
David Andre President
AddrQsso(coma/nymallet 21601 Durham Way Phone 574-536-2445
City,s;a E,zip Bristol, IN 46507 `m0' davidandre@gracesteelservice.com
Senior Official Information
Company senior official eetne Same as above Title
address of company contact(if n.ffercor Iron Phs^e
3hoyei
City,Ste e.Lp En.s.I
Consutant information/Agent
liked business concultant/agontname RSM US LLP/Eric Levenhagen Consultantfeleaae(vfNl Y
Address 9225 Priority Way W Drive#300 Local economic development partners
aooroval
City.sea e,zip Indianapolis, IN 46240 em"' yll
Project Overview
Orlcf de rlptlon of your
compsnr,project and why the Grace Steel has outgrown its existing facility 10,000 sq ft in Mishawaka, IN as a
property is necessary for distributor for hot and cold rolled metal products for steel industry and other industrial
economt growth markets. We are seeking potential sites of 70.000 sq ft or larger for growth. Evaluation
criteria include site location, economic incentives and labor force. The potential South
Bend site is 73,000 sq ft and has been vacant for 6 years and under utilized for the past
15 years. It is located in Urban Enterprise Zone Grace Steel is looking to grow in either
Indiana or Michigan to serve a large vendor at Steel Warehouse with up to 15 new jobs
above State/County average wage. There is opportunity to form a joint venture with this
vendor for steel product manufacturing/distribution to save on shipping costs and
streamline efficient operations. We respectfully request analysis for Vacant Building
Deduction Tax Abatement or TIF Funding compared with Enterprise Zone savings over
10 years to achieve this growth plan and major investment into this building.
Certifiaotrechno;ogyPark approprlata Fi{ed in Clerks Ifflce
No
Is the project In a TAY Incremental s'nannng Yes (Sample Street Corridor)
rriflarch?ftIv.r,Nat? AA'
Certify that the Building Permit his net been Y, Number of residential units created by rally
0
Issued fY!r i erciext
If this let petition for personal property tag abatement,has
No
_ _ ---
the equipment been Insteded
CITY CLER'i SO 'TFI 3END,IN
Investment Details
Pudic Infrastructure needs(ON- Has any SO4 funding been What is the value of any equipment being purchased inWhat is e valupm
Willie of any eq:. enbeing
ng
slte tf project 14 dollars) readved7 Indiana for the project? I ti
Purchased from oat of state for dee project?
N/A No $350,000 $350,000
NI eco F rolect Investments
Calendar Year 2018 2019 2020 2021 2022 2023 2024 2025
land Arauisibon
Bwldnt lease Payments
Bwldina Purchase Costs $765,000
New bu I ding ConsOuctlon
Enixtingaulfdinglmprovements $100,000 $200,000 $ 100,000 $100,000
New M;dtUnery&Equipment $400,000 $ 100,000 $100,000 $100,000
5ponal`ooPng/netooang
New fir niture/FDttures
New Co neuter/IT Hardware
$10,000
New So nears $10,000 $10,000 $ 10,000 $ 10,000
On-site tan Infrastructure
on-site-Iba Infrastructure
TOTAL $765.000 $520.000 $310.000 $210.000 S 210.000 5 0 S 0 $0
Full-Ti ne Permanent Indiana-Resident Positions by Calendar Year
Calendlnr rear Jobs retained Total hourly I Cumulative N of net NEW full time Hourly average wage,w/o Total training Total A to be
wage w/o permanent jobs created rat project benefits or bonuses,of expenditure- trained-not
fringe or cumulative net new jobs not cumulative
bonuses cumulative
2028 4(0 at project site) 19.30
2019 5 19.40 515000 5
1.020 10 18.75 $20000 10
2021 15 18.75 $25000 15
2022 20 1875
2023 20 18.75
2024 20 18.75
2025 20 18.75
2026 20 18.75
2023 20 18.75
2025 20 18.75
2029 20 '8.75
Provide hourly wage Information for new employees In the following positions.
Full time Parr time
Laborers
Technical 515
Managerial $22
Admlnistrathw
Wno wii be the 1rtt0Mdual re spans,me for coord'naung with
.worltor,on ravaJHna 7 favid Andre
Does yo or company have an CEO hiring pol cy? Yes Ara you an EEA employer?
ll},es
r+
Please/list the number of full time and part time minority and/or female employees for each of Please describe your commitment to
the last three years: cffversity and Inclusion by d.tamng your
Year outreach end recruitment efforts for the tart
three years as wen as current policies.
Full Time Part Time Full Time Part Time Full Time Part Tune
• Pam Andre is Owner and
Hispanic they have made company
'man female owned business.
man Company is EEO employer
Female 1 1 that does not discriminate
in hiring process.
Other 3 3 3
Complete below for Real or Personal Property Tax Abatement only.
Please sign for all requested incentives.
Public Benefit Item:
Information Is required on both the construction companies end the
con'panics which will provide materials purchased for this project.
Pleas i complete the table below with the appropriate information. If Quality gamed Points Available Points
you qualify for the points,please enter the full amount of available lyes or No)
points.
Construction Related jContractorsl:
A. Employ Local Companies(75%) Yes 20 20
8. Purchase Materials from Local Companies(75%) Yes 20 20
C. Require Employees vs.Independent Contractors Yes 19 19
D. Require Prevailing Wage(Davis Bacon) Yes 22 22
E. Require Health Benefits Yes 22 22
F. Require Pension Benefits Yes 18 18
G. Maintain Affirmative Action Plan No 20
ISub-total Construction Related: 121 141
2 Want&Benefit Related iOwnerl:
A. Pay Target Wage Levels Yes 33 33
B. Provide Health Benefits Yes 34 34
C. Provide Pension Benefits Yes 29 29
D. Provide Training Yes 28 28
E. Provide Child Care No 15
F. Provide Transportation Assistance No 14
G. Dray:de Employer assisted Housing program No 9
ISub-total Wage&Benefit Related: 124 162
A Workforce Related:
A. Create New Jobs Yes 42 42
B. Retain Existing Jobs Yes 41 41
C. Maintain Affirmative Action Plan No 35
D. Provide Targeted Hiring Preference Yes 34 34
Su b-total Workforsa Related: 117 152
4 Support a Municipal Facility:
A Support a SB Munlc!pal Facility(donations to the l
coo,conservatory,museum,etc.) Yes 34 1 84
Name of Facility South Bend Zoo
_ 1 1S0-total Municipal Facility: 54 34
Sub-total from Above: 445 539
The urderslgned owner(s)of real property,located within the City o'South Bend,herby petition the Common Council of the City
of South Bend for areal and/or personal roperty x abatement consideration and pursuant to I.C.,6-1.1-12.1-1,ejp.,and
South Bend Mu cipal de Sec. -gt sea.,for this petition state the above.
Submitted By: / Date. ti/
For Staff Use Only Below This Line
,C. s& 5v a
What Is the current assessed value? Real Property:
5.1 cow Personal Proper y:
What Is the projected assessed value? Real Property: / Personal Property: ,u
What Is the tax key number for this project?
/ 1.�'S S�'c). SU do
What is the six digit NAICS code? /023510.
n 3 510 - —
CJ/� Filed in Clerk'{ -f- 1
Please attach a Google map and street view of the location. I
Please list the amount of real and personal property taxes Real Property Taxes: Personal roperty Taxes:r r�'
paid forthelast five years when applicable. I-ti N t 1
fic sJ 71:12 Year One _7f0 (/ , _-
7` /� Year Two Or.v/ (C�/,' KARtttviA FOWLER
�/�J /- .9- 3 Cr YCLERK. r,ot r s BEND,lrt,
)0/
•// Year Three �� -v�
/17/ / —YearFour
137
2 Z/
f7t
�/ 620, / /Year Five a 1 ' �L
`
Please fill out the following Public Benefit Summary Information and add to total from above.
jY or NI Points Points
Public Benefit Item:
Project Related:
5 A. Redevelop a Site that has Special Needs 49
B Develop Based on Local University Research 35
C. Achieve a Physical Element of a Plan 36
Sub-total Project Related: 120
6 aper Size Prolects(point values are cumulativel:
A. 100%to 199% PZ�j 25
B. 200%to 299% ✓ 68
C. 300%to 399% 65
D 400%and Over 52
Sub-total Super Size Projects: 210
7 Pay for Municipal Infrastructure:
A. Pay for Oversizing or Upgrading 14
B Pay for 26-50%of Extension Cost 26
C. Pay for 51-75%of Extension Cost 39
D Pay for 76-100%of Extension Cost 52
IISub-total Infrastructure Related: 131
Total from Applicant Section: �z,/6 539
Total from Staff Section: ✓"T 461
Total Public Benefit Points: L..7-1 1000
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'7!"; STATEMENT OF BENEFITS Filed in Clerk's Office 20 19 PAY 2a
jai VACANT BUILDING DEDUCTION -- ---- 20
(2 ') State Form 55182(R/2-14) FORM S13-1/VBD
Rrescribed by the Department of Local Government inance JAN b J 19
PRIVACY NOTICE
This statement i I being completed for real property that qualifies as n"eiigl by The cost and any specific indrvidue!'s
IC Cr-1.1-12.1-1(17y EEt-,�i l CW�R salary information is confidential,the
CITY CLERF BEND,IN balance of the titin is public record
per IC 6-1.1-12.1-5.1 Wand(d).
INSTRUCTIONS:
1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body
requires info Mallen from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise,this statement
must be sub pitted to the designating body BEFORE the occupation of the eligible vacant building for which the person wishes to claim a deduction.
2. To obtain a vacant building deduction,a Form 322NBD must be filed with the county auditor before May 10 in the year in which the property owner
or his tenant occupies the vacant building or not later than thirty(30)days after the assessment notice is mailed to the property owner if it was
mailed after April 10. if the property owner misses the May 10 deadline in the initial year of occupation,he can apply between March 1 and May 10
of a subsequent year.
3 A property o vner who files the Form 322NBD must provide the county auditor and the designating body with a Form CF-1NBD to show compliance
with the app eyed Form SB-1NBD. The Form CF-INBD must also be updated each year in which the deduction is applicable.
SECTION 1 TAXPAYER INFORMATION
Name of taxpaye
SWGS Properties, LLC (Operating Entity is Grace Steel LLC-Pam Andre is Woman Owner)
Address of taxpa er(number end street,city,state,and ZIP code)
21601 Durham Way,Bristol, IN 46507
Name of contact/gasp Telephone number E-mail address
David Andre I( 574 ) 536-2445 davidandre@gracesteelservice.com
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name at designs Ing body Resolution number
South Bend ttity Council
Location of propriety I County DLGF taxing district number
2920 West S mole Street,South Bend, IN 46619 ST JOSEPH 026
Description of ell ible vacant building that the property owner or tenant will occupy(use additional sheets it necessary). Estimated occupancy date(month,day,year)
Planned$500,000 building upgrades to operate mfr/logistics facility including modern roof,flooring, 2/15/2019
and loadingocks.There are 2 parcels for vacant building/land that have not been utilized for close Estimated date placed-in-use(month,day,year)
to 5 years. Legal description is 400'On Sample Beg 330' E&35'S NW Cor NW Sec 15-37-2e. 12/31/2020
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS A RESULT OF PROPOSED PROJEC
Current number Salaries Number retained Salaries Number additional Salaries
0 0.00 0 0.00 10 416,000.00
SECTION ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
REAL ESTATE IMPROVEMENTS
COST ASSESSED VALUE
Current value 549,000.00
Plus estimate 1 values of proposed oroiect 500.000.00 I 500,000.00
Less values of any property being replaced
Net estfmatec,values upon completion of project 500,000.00 1,049,000.00
SECTION 5 EFFOR rS TO SELL OR LEASE VACANT BU,LD:NG
Described effort-by the owner or previous owner to sell,lease,or rent the building dunng penod of vacancy:
Schupan Properties has owned building and has not made great effort to use building or sell it in recent years.
Show amountfol which the building was offered for sale,lease,or rent during period of vacancy.
$765,000-SEE ATTACHED PURCHASE AGREEMENT
List any other benefits resulting from the occupancy of the eligible vacant building.
Company wi Immediately help neighborhood with new hires spending money at local vendors and improving security at building with
upgraded faiade to eliminate appearance of deterioration along with theft prevention. There are building upgrades planned and would
provide mon ay to City and local utilities with building back in use for greater utility usage. Underground storage tanks will be removed to
ensure no fu'ure contamination issues.
SECTION ii rAXPAYER CERTIFICATION
I hereby certify that the representations in this statement are true.
Signature of cut&er-sed re. 5. • Ttsei Date signed(month,day,year)
Br' (I yAP.141 1!17/2019
Pagel of 2
FOR USE OF THE DESIGNATING BODY
We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution,passed or to be passed
under IC 6-1 1-12.1,provides for the following limitations:
A. The d rsignated area has been limited to a period of time riot to exceed _ calender years`(see below). The date this
deslgralion expires Is
B. The amount of the deduction applicable is limited to$ .
C. Other limitations or conditions(specify)
D. Number of years allowed: ❑ Year 1 0 Year 2 0 Year 3 0 Year 4 0 Year 5('see below)
❑ Year 6 0 Year 7 0 Year B 0 Year 9 0 Year 10
E. For a i;atement of benefits approved after June 30,2013,did the designating body adopt an abatement schedule per IC 6-1.1-12.1-17?
[] Yes 0 N
if yes. attach a copy of the abatement schedule to this form.
If no,Jre designating body is required to establish an abatement schedule before the deduction can be determined,
We have als a reviewed the Information contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined mat the totality of benefits Is sufficient to Justify the deduction described above.
Approved(signelore and title of authorized member of designating body) Telephone number Date signed(month,day,year)
( )
Printed name of I.,thorized member of designating body Name of designating body
Attested by(sigr.)tue and 5rre of attester) Panted name or attester
`If the denigrating body limits the time period during which an area is an economic revitalization area,that limitation does not limit the length of time a
taxpayer is r ntitled to receive a deddction to a number of years that is less than the number of years designated under IC 6-1 1-12.1-17
IC 6-1,1-12.1-1(17)°Eigible vacant building-means a building that:
(A)is zoned for commercial or Industrtel purposes;and
(8)Is unocc.ipied for at least one(1)year before the owner of the building ora tenant of the owner occupies the building,as evidenced
by a valid ca rtlficate of occupancy,paid utility receipts,executed lease agreements,or any other evidence of occupation that the
department:if local government finance requires.
IC 6-1.1-12.1-17
Abatement chedules
Sec. 17.(a)A designating body may provide to a business that is establishes in or relocated to a revitalization area and that receives a deduction under
section 4 or 4.5 of this chapter an abatement schedule based on the following factors:
(1) The total amount of the taxpayer's Investment in real end personal property.
(2) The number of new full-time equivalent jobs created.
(3) The average wage of the new employees compared to the state minimum wage.
(4) The infrastructure requirements for the taxpayer's investment,
(b)This subsection applies to a statement of benefits approved after June 30,2013. A designating body shall establish an abatement schedule
for each deduction allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of
the deduction. An abatement schedule may not exceed ten(10)years.
(c)An abatement schedule approved for a particular taxpayer before July 1,2013,remains In effect until the abatement schedule expires under
the terms of the resolution approving the taxpayer's statement of benefits.
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