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HomeMy WebLinkAbout21-16 Mossberg and Company Inc Designating Tax AbatementFiled in Clerk's Ce APR 06 2021 CITYCM. JONES I_E �N QlJTH BEND, IN CITY OF SOUTHBEND COMMUNITY INVESTMENT April 5, 2021 Council Member Rachel Tomas Morgan, Chairperson Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Personal Property Tax Abatement Petition for: Mossberg & Company, Inc. Dear Council Member Tomas Morgan: Please find the attached information pertaining to a personal property tax abatement petition submitted by Mossberg & Company, Inc. to purchase new industrial & manufacturing equipment. The company is planning to expand their business in South Bend, Indiana. This petition package includes: ➢ Department of Community Investment's summary report ➢ Petition ➢ Statement of Benefits forms (Personal property) ➢ Supporting information The report contains the Department's findings relative to the above petition. The petitioner proposes to purchase new industrial & manufacturing equipment with estimated cost of $2,827,700. A representative from Mossberg & Company, Inc. will be available to meet with the Committee on Monday, April 12, 2021. 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. Sincerely, Daniel J. Buckenmeyer Director, Business Development DANIEL J. BUCKEN;VIEYER ALKEYNA ALDRIDGE PAMF.LA MEYER TI.M CORCORAN BUSINESS DEVELOPMENT ENC.AGEMENT & ECONOMIC EMPOWERYIENT NFIGHBORHOOD DEVELOPMENT PI,ANYING & COALM NITY RESOURCES EXCELLENCE!, ACCOUNTABILITY INNOVATION INCLUSION ' EMPOWERMENT 1400S County -City Building 227 W. Jefferson Blvd. South Bend, Indiana 46601 p 574.235.9371 www,southbendin.gov TAX ABATEMENT REPORT TO: South Bend Common Council FROM: Daniel Buckenmeyer, Director of Business Development SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: Mossberg & Company, Inc. DATE: April 5, 2021 On Thursday, March 4, 2021, a petition from Mossberg & Company, Inc was received and subsequently filed with the City Clerk for a personal property tax abatement consideration for property located at 301 E. Sample Street, South Bend, IN 46601. 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 ➢ One of North America's most respected printing companies, Mossberg's focus on precision still prevails in all areas of production and services. The company embraces new, value -adding technology, and Mossberg's skilled professionals work hard to ensure that new resources contribute to delivering measurable results for our customers. ➢ The main facilities have grown to the present size of 64,000 SF and staffed with 73 individuals. The company also leases nearly 102,000 SF of warehouse space at 4100 Technology Drive, South Bend, staffed with 37 individuals. ➢ The company is proposing an investment of approximately $2.9m for the critical and strategic replacement of printing equipment. ➢ 5-year personal property tax abatement with estimated taxes of $34,527 for the five years of the tax abatement period. EMPLOYMENT IMPACT Per this petition, it is estimated that the company will: ➢ Retain one hundred ten (110) jobs with a total annual payroll of $5,571,164 (at both locations — Sample Street and Technology Drive). ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner has been granted two tax abatements. a. 5-Y Personal Property — Confirming Resolution #4524-16, January 2016 2. A review of the South Bend Redevelopment designation areas finds that the property is located in the River West Development Area. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications for 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. �m�� :, ��w 00 OD N 0) N 0 N N Cl) } M V m O r r Cl) O 00 N L o O O 0) O O CCD � 0) 0) � ti � �o 0000 O N N } N o M O O 00 00 I- co N O m r LO Cl) M M o O LC I- C) 1� O M Ln O co N In Mm t6 M 00 W L6 O) LO M r iA V IT 00 o N OOQ] o MOM m am m O If) m N 00 Cl) 0) I - O 0) H t` 0) N f0 1- 00 O LO Ln 00 00 } C0 r V M v V O O a N (Y) Y 00 LO kn _ 00 (O (Q to Q U N L co r +. � N OO 0000 O O O O M O 03 ate.. f0 O r O O O 0) M W } M M M M [7 cn C LO U Q)x 08 a ;, L m mQ a) co CDw ooQ o00 ai w O` o U M coc a LO ai G it 2N cu > U a y N E V) O � (n a` Z Q a Y 2m E m `_ •in I-aw W } N 0 0 0 0 0 0 0 0 Cl) O a) m a 0 in d c = o a) in m « � a m ai , > N M 6 c U to U OJ 7 a X X X Y N °° M m N EQ c - Ym1m Q (cn D a) tl) N Q cn 0 a 0 U ` '� X O) 2z f° N N ppU0U a) N N N N N m w ,n 0 m 2 Uco-j Q 5-j U Z~al OLOM00 N00 N V 000-7 NI N LO Cl) ITM O I— N I� 00 m a) M N 00 Q CO V CO N ON N 0) I'- rnODMzca M- a E O~ M V) V Cl) M Q U .S X w (n O) 7 Z a) > O O] O M M Cl) O O) Y to Cr) LO It M (M G CV ? X L C f— N ul =3 U C N 0 0 a 0 0 O c x� X y N w c ca a � c ns U .0 r N M f a 7 } mmmmm 'nm } } } } } (n a M a) cn to V 10 o I— T fN c m 0 Z cn aa) o z a (A W a I ui m c a cn [Z3 .o a m � E. °' a)�c N D _ U a LL L E U •� u! � H � LFiledin Clerks Office BILL NO.21-16 R a6rry N M. ;jpNES RESOLUTION NO. C' SDUTH BEND, IN 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 301 E. Sample Street, South Bend IN 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A (5) FIVE-YEAR PERSONAL PROPERTY TAX ABATEMENT FOR Mossberg & Company, Inc. WHEREAS, a petition for personal 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 301 E. Sample Street, South Bend IN 46601, and which is more particularly described as follows: Business Personal Property and which has Key Numbers to be assigned, be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq., and South Bend Municipal Code Sections 2- 76 et seq., 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 seq., and South Bend Municipal Code Sections 2-76, et seq., 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 pursuant to Indiana Code 6-1.1- 12.1-4.5 et seq., that: a. The estimate of the cost of the new industrial and manufacturing equipment is reasonable for equipment of that type; b. That the estimate of the number of individuals that will be employed or whose employment will be retained by the Petitioner can reasonably be expected to result from the proposed installation of new industrial and manufacturing equipment; C. That the estimate of the annual salaries of those individuals that will be employed or whose employment will be retained by the Petitioner can be reasonably expected to result from the proposed installation of new industrial and manufacturing equipment; d. Any other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed new industrial and manufacturing equipment; and e. The totality of benefits is sufficient to justify the deduction requested. SECTION II. The Common Council hereby determines and finds that the proposed new industrial and manufacturing equipment can be reasonably expected to yield the benefits identified in the Statement of Benefits as set forth in Sections 1 through 3 of the Petition for Personal Property Tax Abatement Consideration and that 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 6-1.1-12.1-4.5. SECTION III. The Common Council hereby accepts the report and recommendation of the Department of Community Investment, and the Community Investment Committee's favorable recommendation, that the area herein described be designated as an Economic Revitalization Area for purposes of personal property tax abatement and hereby makes such a designation. SECTION IV. The Common Council determines that such designation is for personal property tax abatement only and shall be limited to three (3) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of (5) five years as shown below pursuant to Indiana Code 6-1.1-12.1-17. Year 1-100% Year 2- 95% Year 3- 90% Year 4- 85% Year 5- 80% SECTION VI. The Common Council directs the City Clerk to cause notice of the adoption of this Declaratory Resolution for Personal Property Tax Abatement to be published pursuant to Indiana Code 5-3-1, said publication providing notice of the public hearing before the Common Council on the proposed confirming of said declaration. SECTION VII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. 2 Karen White, Council President South Bend Common Council City of South Bend Petition for Incentives Petition must Include a $250 flfing fee payable to the City Clerk's Office or online via the City's website at bttp://southbendin,gov/government/content/tax-abatement before processing can be complete = General Information Project Name Project Blum er Wolf name asregistered with Secretary of Mossberg & Company, Inc. - uslnessstructure Main Office MAR U 41021 ear"pany "'ensue www.mossbergco.com Progose_d Project Information GI Proposed project address 301 East Sample Street Parent company name Mo tmPRrparrq 11 l. city, state, iip' South Bend, IN 46601 4egalawner Mossberg & Company, Inc. Site acreage or acreagerequired Approximately 2.1 acres 'Is the real estate owned or Owned Square Met -of Faculty 64,330 If leased 14W1ii0iri N/A rinfory ontact Information Prinirirycbmpergrmmattsame ,lames W. Hillman retie President & CEO AAddress`ofcompany contact 301 East Sample Street Phone ' 574-289-9253 city,State, Zip South Bend, IN 46601 Email jhillman@mosssbergco.com Senior Official Information company senior official name Jean Crumlish 'Title Director of Administration Address of company contact (if different from 301 East Sample Street Phone 574-216-4672 city;. State, Zip South Bend, IN 46601 email jrumlish@mossbergco.com Consultant Information/Rent HirtllliuslnessconsuHantlaBent name N/A Consultant release (YIN ) Address Local econopiledeveldprnmit partners a 0 P r°val (YIN icity, State, Zip Email Pro ject OveMew Brief description of your Founded in 1930 by Herman T. Mossberg at 302 East Tutt Street, Mossberg and Bodell Company began as a company, project, and why the sheetfed printing operation. The strong tradition of quality, service and unique products at Mossberg continues properNlsnecessary for today, ninety-one years later. While Mossberg & Company has maintained its core sheetfed printing operations, we economicgrowth now offer a wide variety of printing methods, combined with custom technology solutions, packaging and fulfillment. Throughout Mossberg's history, the corporate headquarters have remained between Tutt Street and Sample Street in South Bend. Our main facilities have grown to their present size of 64,000 square feet, staffed with 73 individuals and housing our primary production equipment. We also lease nearly 102,000 square feet of warehouse space at 4100 Technology Drive, South Bend, staffed with 37 individuals, for additional production and warehousing. Our customers rely on the diverse products produced by Mossberg under one virtual roof. Both to maintain and broaden our market segments, we are proposing an investment of $2,800,000-$2,900,000 for the critical and strategic replacement of printing equipment. This investment will help us grow, which we anticipate will result in retention of our employees. Mossberg is committed to the City of South Bend, and respectfully request that the Council approve this Petition. Certified Technology Park appropriate - NO 3s tfie prblect In 9Tax incremental F[nancing N O r IF CertifythaftheBuilding Permit hasnotbcen N/A iYumberfaf•residenfielunl4scieatetltiy olect N/A If this is a petifiori.for personiiproperty iaxabatement, has NO the a ui ment been Installed nvasiment [ietal(la Public Infrastructure needs (Off- -,site of project In dollars) Has any 504funding been received? What Is the value of any equipment being purchased In Indiana For the project7 What Is the value of any equipment being purchased from out of state for the project? None No $20,000-$70,000 $2,620,000-$2,790,000 (lice ;ND, IN New Protect Ine Calendar Year land Acqulsltlon Building lease Payments Bulldln$ Purchase Costs Now Building Construction Existing Building Improvements Now Machinery & Equipment Spettal Tooling/Ratooling New Furniture/Fixtures Naw Computer/IT Hardware New Software Qn•site Rail Infrastructure On -site Fiber Infrastructure 2021 2022 2023 2024 202+5 2926 2027 2028 $ 2,827,700.00 $ 21,88&00 $ 20.000.00 TOTAL S.7.5Wjd BAD $ U0 $ 0.00 $ ©.Q0 $0.001 $ 0.00 $ o'00 Fup•Tirne Permanent Indiana -Resident Pmdtlans by Calamdar Year Calendar Year Jabs retained Total hourly Cumulative 0 of net NEW full time -wage w/o permanent jobs created at project -fringe or hanuses Hourly averagewage, w/o Total Training Total 11to be benefits or bonuses, of expenditure - trained - not cumulative net new jobs not cumulative cumulative 2021 110 $5,571,1fi4 2022 2023 2024 t025 2026 2027 2028 2029 2030 2031 2032 Provlda:hownfy wagi Inferm. Mien for new employees In thatollowing posWoffs, Full time Part time laborers Technical Managerial Administrative Who will lie trie individual responsld a ror coordinating With WorkOne an recruttin 7 -Fes— Does your company have an EEO hiring policy? Yes Are you an EEO employer? Please list the number of full time and part time minority and/or female employees far each of the Dist three years: Year 2020 2019 2018 Please describe your commitment to diversity and Indsslon by detalling your outreach and recruhment efforts for the last Three years as will as current policies. Full Time Part Time Full Time PartTime Full Time I Part Time Black 3 1 2 5 Mossberg & Company Is an equal opportunity employer. Employment decisions are based on merit and need and not on race, color, citizenship status, national origin, gender, age, religion, disability, sexual olentallon, or any other status protected by law. We continue to recruit through varous broad means, to expand our reach and pool of interested applicants. Hispanic 3 3 5 Asian Indian Female 44 3 39 2 53 4 Other 104 10 104 7 125 tt_8 For Staff Use Only Below This Line whatlsthechrientassesse valtie7", ll Raal Proovty: ercui� Asses"4p)l $ IPersonal Property Lr u,e 649,300 1T5,494,820 e«o<" What Is the Proletterlassesied value? i- • Real Property: ' ,' ' Personal Property: Not yet available Not yet available . .1 -toeteakeriiiin,herforthisprcle�t7 Tax IDE Number:71-018-06830-00: Property Number: 71-126-06830-00 What is the six digit NAICS code? - 323111 Commercial Printing Please attach a Google map and street view of the location, See Attachment #1 and Attachment #2 PteasiIlsttheaincunt elroal end persondl property taxes , pall] for th a last five years when applicable. Rerl Property Taxes: Pei snnal Prnporiyrarrs: Year one 2020 $19.479.00 $164.844.60 ,Year TWo 2oi9 $21,518.04 $185.429.14 Year Three 2019 $20,933.60 $184,505.80 Year Four 2017 $21.243.30 $180,130.38 Year Five 2016 $21,089.58 $166,346.64 Please fill out the following PublIC BenefitSummary Iriformat-son and add to toWfrom above. o IY Poirifs Poinis Public Benefit Item: Project Related: 5 A. Redevelop a Site that has Speclal Needs No 49 B. IDevelop Rased on Local University Research No 35 C Achieve a Physical Element.of a plan No 36 Sub -total Project Related: 120 6 SvperSixe Proiects (Paint varues are cumufa8ve):• No 25 A. 100% to .199% B. 200% to 299% No 68 C. 300% to 399% No 65 d. .400% and Over No 52 :sub -total Super Size.Projects: 210 7 far Murtielnal Infrastrtwtrarei • A. Pay for00aldng or 0pgradling No 14 8- Pay for 26-50% of Extension cost- : No 26 C. Pay for 51.75 % of Extension Cost No 39 D. Pay for 76-1p0% of Eritgnsion Cost No I 52 Sub -total Infrastructure Related. 131 Total from Applicant Section: 249 539 Tatal from staff section:: 461. Total Public Benefit Points: 249 1000 Com. plate below for Real or Personal Property Tax Abaterlsent only. Please sign for all reque9ted lnctentlt/es. Public Benefit Item: Information is required on both the construction companies and the companies which will provide materials purchased for this project. Please complete the table below with the appropriate information, If you qualify for the points, please enter the full amount of available points. Qualify (Yes or No) Earned Points Available Po In 1 Construction Related iContract— A. Employ Local Companies (75%) NIA 20 B. Purchase Materials from Local Companies (75%) N/A 20 C, Require Employees vs. Independent Contractors NIA 19 D. Require Prevalltng Wage (Davis Bacon) N/A 22 E. Require Health Benefits N/A 22 F. Require Pension Benefits N/A 18 G. Maintain Affirmative Action Plan N/A 20 Sub -total Construction Related: 0 141 2 Waita & Benefit Relate wner : A. 1PaY Target Wage Levels Yes 33 33 B. iProvide Health Benefits Yes 34 34 C. [Provide Pension Benefits Yes 29 29 D. ProvideTraining Yes 28 28 E. Provide Child Care No 15 F. Provide Transportation Assistance No 14 G. Provide Employer Assisted Housing program No 9 Sub -total Wage & Benefit Related: 124 167 3 Wurkforce elated: A, Create New lobs No 42 B. IRetatn Existing lobs Yes 41 41 C. -Maintain Affirmative Action Plan No 35 D. Provide Targeted Hiring Preference 34 Sub -total Workforce Related: 41 152 4 Support a lVimlicipal Faculty: A. Support a Se Municipal Facility (donations to the zoo, conservatory, museum, etc.) Yes S4 84 Name of Facility Nodhb INF—IB,,k,KrocCen@r,GePaulAC¢demy,YWCA,Bays&GidsClub,Areas wlsandnuNNhomes sub -total Municipal Facility: 64 84 Sub -total from Above: 249 539 The undersigned owner(s) of real property, located within the City of South Bend, herby petition the Common Council of the City of South Bend for a real and/or personal property tax abatempt consideration and pursuant to I.C., 6-1.1-12.1-1, et seq., and South $aqd Municipal Code Spc.;f;fet sea„ for this petition state the above, j Submitted By: IIHZ. � _I Date: I March 4, 2021 STATEMENT OF BENEFITS ,. PERSONAL PROPERTY State Form 517e4 (R4111-15) Prescribed by the Department of Local Government ?ffice MAR 0 4 2021 W1 AWN M, JM NS fY CLERK, SOUTH BEND, IN FORM SB-1 / PP PRIVACY NOTICE Any information coneurning the cast of the property and speQlc saiorlea paid to Individual ampteyees by the property owner Is Contidenlfal pur IC 6.1.1.12.1-5.1. INSTRUCTIONS i, This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires information from the applicant in making Its decision about whether to designate an Economic Revitalization Area. Otherwise this statement must be submitted to the designating body BEFORE a person Installs the new manufacturing equipment and/or research and development equipment, and/or logistical distribution equipment andlor information technology equipment for which the person wishes to claim a deduction. 2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the installation of qualifying abatable equipment for which the person desires to claim a deduction. 3. To obtain a deduction, a person must file a certified deduction schedule with the person's personal property return on a certified deduction schedule (Form 103-ERA) with the township assessor of the township where the property Is situated or with the county assessor If there Is no township assessor for the township. The 103-ERA must be filed between January 1 and May 15 of the assessment year in which new manufacturing equipment andlor research and development equipment andlor logistical distribution equipment andlor information technology equipment is Installed and fully functional, unless a filing extension has been obtained. A person who obtains a filing extension must file the form between January 1 and the extended due date of that year. 4. Property owners whose Statement of Benefits was approved, must submit Form CF-1/PP annually to show compliance with the Statement of Benefits, (iC 6-1.1-12.1-5.6) 5. For a Form SB-11PP that is approved after June 30, 2013, the designating body is required to establish an abatement schedule for each deduction allowed. For a Form SB-1/PP that Is approved prior to July 1, 2013, the abatement schedule approved by the designating body remains in effect. (IC 6-1.1-12.1-17) SECTION■• • Name of taxpayer Name of contact person Mossberg & Company, Inc Jean Crumlish Address of taxpayer (number and street city, state, and ZiP code) Telephone number 301 East Sample Street, South Berld, IN 46601 1(574 )216-4672 SECTION■ AND DESCRIPTION OF PROPOSED PROJECT Name ofdesigneting body Resolution numbers) South Bend Common Council Location of property County DLGF taxing district number 301 East Sample Street, South Bend, IN 46601 St Joseph 71026 Description of manufacturing 0 Ulpment andlor research and development equippment andlor ioogglslical distribution equipment andlor Information technology equlpment, (Use addi(lonal sheets if necessary.) ESTIMATED START PATE DATE Manufacturing Equipment 4/16/2021 -COMPLETION 6/1/2021 Both to maintain and broaden our market segments, we are R & D Equipment proposing an investment of $2,800,000-$2,900,000 for the critical replacement of printing equipment. This investment will help us grow, which will result in retention of our employees. Loglst Dist Equipment IT Equipment SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULTOF PROPOSED PROJECT Currpntnumidr Salaries Numberrelatned NumberaddltIenal Salaries 73 $4,055,494 73 $4,055,494 0 I SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT NOTE: Pursuant to IC 5-1.1-12.1-5.1 (d) (2) the MANUFACTURING EQU MENT R & D EQUIPMENT LOGIST DIST IT EQUIPMENT EQu[PMENT COST ASSESSED VALUE COST ASSESSED VALUE COST ASSESSED VALUE COST _ ASSESSED VALUE COST of the property is confidential. Current values $5 494 820 Plus estimated values of proposed project +2,870 000 Less values of any -pro erty being replaced -$7,609,000 Not estimated values u on com letlon of project SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated solid waste converted (pounds) ^_ Estimated hazardous waste converted (pounds) . Other benefits: SECTION I hereby certify that therepresentations In this statement are true. Signature ofaut Date signed (month, day, year) S4;�� March 4, 2021 Printed name of RuOrized representative Title Jean Crumlish Director of Administration Page 1 of 2 FOR USE OF DESIGNATING BODY We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards adopted In the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, provides for the following limitations as authorized under IC 6-1.1-12.1-2. A. The designated area has been limited to a period of time not to exceed calendar years " (see below). The date this designation expires Ig NOTE: This question addresses whether the resolution contains an expiration date for the designated area. B. The type of deduction that is allowed In the designated area is limited to: 1 . Installation of new manufacturing equipment; ❑ Yes ❑ No ❑ Enhanced Abatement per IC 6-1.1-12.1-16 2 . Installation of new research and development equipment; ❑ Yes ❑ No Check box if an enhanced abatement was approved for one or more of these types. 3 ,Installation of new logistical distribution equipment. El Yes ❑ No 4. Installation of new Information technology equipment; ❑ Yes ❑ No C . The amount of deduction applicable to new manufacturing equipment is limited to $ cost with an assessed value of $ . (One or both lines maybe filled out to establish a limit if desired.) D . The amount of deduction applicable to new research and development equipment is limited to $ cast with an assessed value of $ . (One or both lines maybe filled out to establish a limit, if desired.) E, The amount of deduction applicable to new logistical distribution equipment is limited to $ cost with an assessed value of $ . (One or both lines may be filled out to establish a limit, if desired.) F. The amount of deduction applicable to new Information technology equipment is limited to $ _ cost with an assessed value of $ . (One or both lines may be filled out to establish a limit If desired.) G. Other limitations or conditions (specify) H. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or new information technology equipment Installed and first claimed eligible for deduction Is allowed for: ❑ Year 1 ❑ Year 2 ❑ Year 3 ❑ Year 4 ❑ Year 5 ❑ Enhanced Abatement per IC B t.1-12.1-15 Number of years approved: ❑ Year 6 ❑ Year 7 ❑ Year 8 ❑ Year 9 ❑ Year 10 (Enter one to twenty (1-20) years; may not exceed twenty (20) years.) I. For a Statement of Benefits approved after June 30, 2013, did this designating body adopt an abatement schedule per IC 6-1.1-12.1-177 ❑ Yes ❑ No If yes, attach a copy of the abatement schedule to this form. If no, the designating body Is required to establish an abatement schedule before the deduction can be determined. Also we have reviewed the Information contained in the statement of benefits and find thal the estimates and expectations are reasonable and have determined that the totality of benefits Is suPorlent to justify the deduction described above. Approved by: (signature and title of authodzed member of designating body) Telephone number ( ) Date elgned (month, day, year) Printed name of authorized member of designating body Name of designating body Attested by: (signature and title of attester) Printed name of attester * If the designating 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 entitled to receive a deduction to a number of years that Is less than the number of years designated under IC 6-1.1-12.1-17. IC 6-1.1-12.1-17 Abatement schedules Sec. 17. (a) A designating body may provide to a business that is established 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 kt real and personal properly. (2) The number of new full-time equlvalent 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, Adesignating 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. Page 2 of 2 Attachment #1: City of South Bend Petition for Incentives Application Mossberg & Company, Inc. 301 East Sample Street, South Bend, IN 46601 March 4, 2021 Z r..�._ rj)W z, Z � fl U C: Vp MancI13 Sl RUal1 St N O O 3 a y ® np ]< Fellovrx4 Marinbu St a O fA o c 7 U O (7 a a N 0 00 O a �t Ao� [ U s 0 m z CD p N d �• rT rry 00 }rl gU N { p S,ca � ® I 0 i a 0 as L � Q, m } ou e N Y oi) G o' W n P 0 0: co c y �_ U Q c I o N (> r EE v 5r a E L) Q b NLD a C V V C lyJ. 6i 1 z Garral5t a C U a m O d N L1 � .9 C] c Li o O t ficnria t a I "I N a T ri Ci N s O U N O a O0In wN O= ma7 qd1 U xxE N O ®LOGy Cu3 �g ca E o o m �n t17 U a a g U m W ap la o u E ® I n u m EL a o Rail Stone M y o Y ° cr � r } S Main SI ® a a v W o ID- o v v Q a it tap Sri nj rn 0 C c } C) o `. o i'r a g r o x 31.a1;aye0a 9lvd S Larayepe Blvd a F y � � c o CL N O U .o E � a. � . n 9 � Ff511A11n S; Tran+lin Si rn 0)