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�y�ur 6 <br /> u c <br /> File i, ! k's Office <br /> CITY OF SOUTH BE D 202 ' <br /> COMMUNITY INVESTMENT DA-Wii 1.:iONFS <br /> f CITY CLERK,SOUTH BEND,IN <br /> June 22, 2022 <br /> Councilmember Rachel Tomas Morgan, Chairperson <br /> Community Investment Committee <br /> South Bend Common Council <br /> 4t' Floor, County-City Building <br /> South Bend, IN 46601 <br /> Dear Councilmember Tomas Morgan, <br /> Attached please find a proposed form of resolution approving a waiver of noncompliance,pursuant <br /> to Indiana Code 6-1.1-12.1-11.3, for Toyo Seiko North America Inc. <br /> The Company filed a Form CF-1/RP and CF-1/PP with the City of South Bend in 2021 and 2022, <br /> however, the Company inadvertently did not file the Form 322 with the St. Joseph County <br /> Auditor's office in 2021 and 2022 related to the Real Property tax abatement. After realizing the <br /> omission, the company filed the appropriate forms with the Auditor's office this month. <br /> The company is requesting that the Common Council waive noncompliance with the filing <br /> deadline for omitted Form 322 in 2021 and 2022. <br /> The Department of Community Investment endorses and supports this waiver as the Company has <br /> been on track with their abatement milestones. The initial projection associated with building <br /> improvements was $1.6 million and the actual cost through December 31, 2022,was$2.1 million. <br /> The project has met the employment representation stated in the original petition for tax abatement <br /> from when the project began operating, until the present date. <br /> Additionally, the company has also requested an extension on its existing Personal Property <br /> abatement,as shipping costs and unexpected supply chain issues have delayed the purchase of new <br /> equipment for the South Bend facility. We recommend amending the existing designating and <br /> confirming resolutions to extend the designation period for the personal property tax abatement to <br /> November of 2024. <br /> We ask that the attached resolution be referred to the Community Investment Committee for an <br /> advisory recommendation and then heard at the Common Council meeting to be held on June 26, <br /> 2022. <br /> EXCELLENCE ACCOUNTABILITY . INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />