HomeMy WebLinkAboutBill No 22-29 Resolution Modifying and Confirming Res No 4833-19 TOYO SEIKO NORTH AMERICA Inc.
World Leading Company for Shot Peening Media
June 17, 2022 Filed in Clerk's Office `}
JUN' 2 2 2J''
On the 181 of December 2019, Toyo Seiko was granted tw tax hhatemPnt fnr a �
new project to be located at 3585 Moreau Ct. South Bend ^,'N M. ._IoNEs
p �i L L SOUTH BEND,IN
abatements were as follows. ~�
Real Property Abatement Bill # 19-79 Confirming Resolution 4832-19. This
abatement had a commitment of 1,600,000.00 for building and improvements
for the above address.
A personal property abatement Bill 319-81 Confirming Resolution 4834-19
This abatement had a commitment of$1,055.000.00.
We began construction of this facility in the fall of 2020 with completion
targeted for May of 2021. Mid project the covid-19 pandemic began.
The building and grounds were completed end of May 2021. The amount
expended exceeded the abatement commitment. However, we failed to properly
submit tax deduction forms to the St. Joseph County Auditor Office in May
2021 AND May 2022 and therefore we received assessed tax bills. The tax
deduction forms including 322 RE were filed on June 14', 2022
Even though we were able to meet our goals on the building construction, we
encountered significant delays on purchasing the equipment due to the supply
chain crisis. An unexpected but temporary drop in revenue negated the need for
the additional equipment. Once this passed, the shipping cost to bring the
machines from overseas had gone from $30,000 to $200,000. This caused Toyo
Seiko to delay shipping the machines until ocean container pricing returned to
normal rates. Employment commitments and actual jobs as of today to retain
four permanent jobs and create one full time job within two years have been
met.
Toyo Seiko is therefore requesting a two-year waiver on real property
abatement#4832-19. We are also requesting an extension of the designation
period on personal property abatement #4834-19 for an additional two years.
Sincerely,
Larry A Ca zarite
Corporate Secretary.
3585 Moreau Ct.South Bend In. 46628
TEL:+1-574-288-2000
Email: sales@toyoseiko-na.com URL: http://www.toyoseiko-na.com/
Filed in C'+,,rk'S Office
BILL NO. 22-29
JUG; 2 2 20'i_
RESOLUTION NO. 4964-22 �-- ----�
DA1^JN N,: 'ONES
CITY CLERK_ rREND, IN
N_
A RESOLUTION MODIFYING AND RECONFIRMING THE ADOPTIO OF
DECLARATORY RESOLUTION NO. 4833-19 DESIGNATING CERTAIN
AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
3585 Moreau Ct, South Bend, IN 46628
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
FIVE (5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
Toyo Seiko North America, Inc.
WHEREAS, the Common Council of the City of South Bend has adopted Declaratory
Resolutions designating certain areas within the City as Economic Revitalization Areas for the
purpose of tax abatement consideration.
WHEREAS, Declaratory Resolution No. 4833-19 designated the area located at 3585
Moreau Ct., South Bend, IN 46628 and certain business personal property therein, as more
specifically set forth in Declaratory Resolution No. 4833-19, which has Key Numbers to be
assigned, as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et
SeMc., and South Bend Municipal Code Sections 2-76 et SeMc.; and
WHEREAS, upon proper notice, a public hearing was held, after which the Common
Council issued a Confirming Resolution No. 4834-19 confirming the adoption of a Declaratory
Resolution No. 4833-19 on December 9, 2019; and
WHEREAS, the Petitioner was granted a three-year designation period in the Confirming
Resolution No. 4834-19, which will expire on November 25, 2022; however, the project will not
be completed until November 2024.
WHEREAS, the Petitioner has requested additional two years to complete the project.
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 extension of the
designation is appropriate and meets the requirements of Indiana Code § 6-1.1-12.1 et seq.
SECTION II. The Common Council hereby reconfirms its Declaratory Resolution No. 4833-19
ri
and its Confirming Resolution No. 4834 19 designating the area described herein as an Economic
Revitalization Area for the purpose of a personal property tax abatement. Such designation is
limited to five (5) calendar years from the date of adoption of the Declaratory Resolution No.
4833-19 by the Common Council.
SECTION III. The Common Council hereby determines that the property owner is qualified for
and is granted property tax deduction for a period of five (5) years as shown below and further
determines that the petition, the Statement of Benefits and the Memorandum of Agreement
between the Petitioner and the City of South Bend comply with Chapter 2, Article 6, of the
Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq.
Year 1 — 100%
Year 2—95%
Year 3 —90%
Year 4-85%
Year 5 —80%
SECTION IV. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approval by the Mayor.
Sharon L. McBride, Council President
South Bend Common Council
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