HomeMy WebLinkAboutConfirming Tax Abatement - 2722 Tucker Drive - Steel Warehouse Company LLCRESOLUTION
3791-07
Passed by the Common Council of the City of South Bend, Indiana
September 24, 07
zo
Attes
City Clerk
.e
dent of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
September 25,
20
07
Approved and signed by me September 25, 200.x_.
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City Clerk
RESOLUTION NO. 3 ~ ~ ~~ "~~
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
2722 TUCKER DRIVE
TO BE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE
(5) YEAR PERSONAL PROPERTY TAX ABATEMENT FOR
STEEL WAREHOUSE COMPANY LLC
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 2722 Tucker Drive, South Bend, Indiana, and which is more
particularly described as follows:
The following parcels of Real Estate all located in St. Joseph County,
Indiana:
A part of the South '/ of the Northwest'/ of Section 15, Township 37
North, Range 2 East in the City of South Bend, St. Joseph County, Indiana,
described as follows:
Beginning at a point on the East line of the Southwest'/ of the Northwest
'/ of said Section 15, 580.64 feet South of the Northeast corner of said
Southwest'/4 of the Northwest'/, said point being 172.0 feet North of the North
right of way line of the Indiana Northern Railway Company; thence Westerly
parallel with said North right-of-way line 565 feet to the Southwest corner of a
tract of land conveyed to Stanley Enterprise, Inc. By a deed recorded October
16, 1993 in Deed Record 777, page 226; thence North along the West line of
said Stanley Enterprises, inc. tract, said line being parallel with the East line of
said Southwest'/4 of the Northwest'/, 323.0 feet to the South line of Tucker
Drive; thence West along the South line of Tucker Drive 215.93 feet; thence
South parallel with said East line of the Southwest'/ of the Northwest'/, 495.90
feet to the North right-of-way line of the Indiana Northern Railway Company;
thence Easterly along said North right=of-way line, 860.23 feet to the West edge
of Steel Warehouse Co. Ines building; thence North along said West edge of
building, 172.0 feet; thence Westerly parallel with the North right-of-way line of
the Indiana Northern Railway Company, 79.3 feet to the point of beginning,
containing 5.0 acres, more or less.
A part of the Southwest Quarter of the Northwest Quarter of Section 15,
Township 37 North, Range 2 East in the City of South Bend, Indiana, more
particularly described as follows:
Beginning at a point 260 feet South and 25 feet West of the Northeast
corner of said Southwest Quarter of the Northwest Quarter; thence West 540
feet; thence South parallel with the East line of said Southwest Quarter of the
Northwest Quarter, 324.25 feet to a point 172 feet North of the North line of the
right-of-way of the Indiana Northern Railway Company; thence East parallel with
said North line of said right-of-way, 540 feet; thence North parallel with the East
line of said Southwest Quarter of the Northwest Quarter, 320.75 feet to the place
of beginning.
A tract of land in the West Half (1/2) of the Northwest Quarter (1/4) of
Section Fifteen (15), Township Thirty-seven (37) North, Range Two (2) East, now
within and a part of the City of South Bend, St. Joseph County, Indiana, more
particularly described as follows:
Beginning at the center of the Northwest Quarter (1/4) of said Section
Fifteen(15); thence South along the North and South center line of said Quarter
Section Two Hundred Twenty (220) feet to the North line of Tucker Drive; thence
West along said North line to the West line of said Section Fifteen (15); thence
North along said West line One Hundred Twenty-eight and One Tenth (128.1)
feet, more or less, to a line Two Hundred Fifty (250) feet by rectangular
measurement Southeasterly from said original centerline of the New York Central
Railroad right-of-way; thence Northeasterly parallel to the Two Hundred Fifty
(250) feet by rectangular measurement Southeasterly from said original
centerline of the New York Central Railroad right-of-way, Seven Hundred
Twenty-seven and One One-Hundredth (727.01) feet, more or less, to a point on
the East line of the Southwest Quarter (1/4) of the Northwest quarter (1/4) of the
Northwest Quarter (1/4) of Section Fifteen (15); thence Southerly along said East
line One Hundred Ninety-nine and Eighty-six Hundredths (199.86) feet, more or
less, to the South line of the Northwest Quarter (1/4) of the Northwest Quarter
(1/4) of Section Fifteen (15); thence East along said South line Six Hundred
Sixty-three and fifty-two hundredths (663.52) feet, more or less, to the place of
beginning, excepting Thirty (30) feet off the East side thereof for purposes of a
public highway.
A lot or parcel of land situated in the Northwest quarter of Section 15,
Township 37 North, Range 2 East, now within and a part of the City of south
Bend, bounded by a line running as follows, to -wit: Beginning at a point on the
North line of the Southeast Quarter of the Northwest Quarter of said Section
15,600 feet West of the Northeast corner of the Southeast Quarter of the
Northwest Quarter of said Section 15; thence running West along said North line
a distance 725.8 feet to the Northwest corner of said Southeast Quarter of said
Northwest Quarter; thence South a distance 220 feet, more or less, to the North
line of a 40 foot road known as Tucker Drive; thence East along the North line of
said roadway to a point due South of the place of beginning; thence North to the
place of beginning. Together with and subject to an easement over the 40 foot
roadway lying immediately South of the above described real estate known as
Tucker Drive, and extending Eastward to Olive Street.
Part of the Southeast Quarter (1/4) of the Northwest Quarter (1/4) of
Section Fifteen (15), Township Thirty-seven (37) North, Range Two (2) East, now
within and a part of the City of South Bend, described as beginning at a point 260
feet South of the Northwest corner of the Southeast Quarter (114) of the
Northwest Quarter (1/4) of said Section fifteen (15); thence South 492.9 feet to
the North line of the right-of-way of the Indiana Northern Railroad; thence East
along the said North line of the right-of-way of the Indiana Northern Railroad 305
feet; thence North 492.9 feet; thence West 305 feet to the place of beginning.
Together with aright-of-way over a 40 foot roadway North of and adjoining
the aforedescribed tract, and continuing Easterly to Olive Street, which said 40
foot roadway is now commonly known as Tucker Drive in said City of South
Bend.
The East Half of the South East Quarter of the North East Quarter of
Section No. 16, Township No. 37 North, Range No. 2 East, containing 20 acres,
more or less, and being Lot No. 16 in the Sub-division of said Section No. 16,
and now within a part of the City of South Bend, excepting there from the
following:
The original right-of-way across, the North West corner heretofore
conveyed by.Joseph B. Arnold, to the Indiana Illinois, and Iowa Railway
Company.by Warranty Deed dated August 21, 1894 and recorded in Deed
Record 95, page 553, of the records of St. Joseph County, Indiana; and
excepting second the following: Beginning at a point on the West line of said Lot
Numbered 16, where the same is intersected by the South Easterly line of said
original right-of-way, thence running South on the west line of Lot Numbered 16,
219 feet, more or less, to a point distance 250 feet by rectangular measurement
from the original center line of said right-of-way; thence North Easterly parallel
with and 205 feet distant by rectangular measurement from the original center
line of said right-of-way a distance of 733.3 feet, more or less, to a point on the
East line of said Section No. 16, thence North on said East line, a distance of
105.5 feet, more or less, to the North East corner of said Lot No. 16; thence West
along the North line of said Lot No. 16, thence North on said East line, a distance
of 105.5 feet, more or less, to the North East corner of said Lot No 16; thence
West along the North line of said Lot No. 16, a distance 254.5 feet, more or less,
to the intersection with the said Easterly line of said original right-of-way; thence
South Westerly with said Easterly line a distance 454.5 feet, more or less, to the
place of beginning, containing 3.04 acres, more or less; excepting third, all that
part of said lot no. 16 which lies South of the North line of the right-of-way of the
St. Joseph, South Bend and Southern Railroad Company, excepting fourth, a
strip of land 70 feet wide North and South lying next north of and adjoining the
right-of-way of the St. Joseph, South Bend and Southern Railroad Company;
excepting further that a strip of 40 feet in width, North and South, and being a
extension of Tucker Drive, shall be established through the Northerly part of said
tract and dedicated to the public as a highway, which said extension shall extend
to the right-of-way of the New York Central Railroad Company.
All that part of the Southwest Quarter of the Northwest Quarter of Section
15, Township 37 North, Range 2 East, described as follows: Beginning at a point
260 feet South and 330 feet West of the Northeast corner of the said Southwest
Quarter of the Northwest Quarter; thence West 996.08 feet to the West line of
said section; thence South 498.35 feet to the North line of the right-of-way of the
Indiana Northern Railway Company; thence Easterly along the said Northerly line
of said Indiana Northern Railway Company a distance of 996.08 feet, more or
less, to a point on the Northerly line of the said Indiana Northern Railway
Company South of the place of beginning; thence North to the place of
beginning.
Beginning in the center line of Olive Street in said City at a point Seven
Hundred Eighteen and twenty-five hundredths (718.25) feet South of the North
line of said Section No. 15, said point of beginning being on the Southerly line of
a strip of land fifty(50) feet wide reserved for the right of way of the Indiana
Northern Railroad Company thence running South on the center line of Olive
Street, a distance of Six Hundred Eight and fifteen-hundredths (608.15) feet to
the South east corner of said North East quarter of the North West quarter of
Section No. 15; thence running West on said South line, a distance of Thirteen
Hundred twenty-seven (1327) feet to the West line of said quarter Section,
thence North on said West line, a distance of Four Hundred Ninety-three and four
hundredths (493.04) feet to the Southerly line of said parcel deeded by said
Grantors to the New York Central Railway Company; thence North Easterly
along the Southerly line of said last named parcel to a point on the South line or
the right of way of the Indiana Northern Railroad Company due West of the place
of beginning: thence East ten hundred Fifty-seven and Thirteen-hundredths
(1057.13) feet, more or less, to the place of beginning and containing Seventeen
and seven hundred Sixty-one thousandths (17.761) acres, exclusive of Olive
Street.
All that part of the East Half of the North West Quarter of the North West
Quarter of Section No. 15, Township No. 37 North, Range No. 2 East, that lies
South of the right-of-way of the Indiana, Illinois, and Iowa Railroad Company
(now New York Central Railroad), now within and a part of the City of South
Bend; excepting therefrom a lot or parcel of land bounded as follows:
Beginning at the intersection of the South Easterly line of said right-of-way
and the East line of the East Half of the Northwest Quarter of the North West
Quarter of said Section No. 15, thence running South Westerly along the South
Easterly line of said right-of-way to the West line of the East Half of the North
West Quarter of the North West Quarter of said Section; thence running South
219 feet, more or less, to a point; thence North Easterly parallel with and 219 feet
South of the Southerly line of said right-of-way to the East line of the East Half of
the North West Quarter of the North West Quarter of said Section No. 15; thence
North 219 feet, more or less, to the place of beginning.
and which have Key Numbers 18-8075-2838, 18-8075-2839, 18-8075-2843, 18-
8075-2844.03, 18-8075-2844.04, 18-8075-2844.06, 18-8075-2845.01, 18-8075-
2845.02, 18-8075-2845.03, 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, 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 five
(5) 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 6-1.1-12 et
ses.
SECTION III. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approved by the Mayor.
KESENTED ~~Z`~-off
NOT APPROVfEl
ADOPTED ~ ' 2~_ ~ 7
Filed nl Cierk'~ Office
JUL i 6 2007
JOHNlV07~DE
of the ComrT;~n/~ouncil
1200 COUNTY-CITY BUILDING
227 W. JEFFERSON BOULEVARD
$OUI1-I BEND, INDInNA 46601-1830
PHONE 574/235-9371
FAX 574/235-9021
TDD 574/ 235-5567
CITY OF SOUTI-I BEND STEPHEN J. LUECKE, MA1tOR
COMMUNITY HL ECONOMIC DEVELOPMENT
July 16, 2007 ,JEFFREY V. GISNEY
EXECUTIVE DIRECTOR
Council Member Derek D. Dieter, 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, LLG and AFFILIATES and EQUIPMENT LESSORS
2722 W. TUCKER DRIVE, 1400 W. RIVERSIDE DRIVE and
1217 and 1215 S. WALNUT STREET
Dear Council Member Dieter:
Please find attached the Department of Community & Economic Development's report on three (3)
personal property tax abatement petitions for the above-referenced petitioner. Also attached are copies of
the three petitions, Statement of Benefits forms, and supporting information. The projects call for the
acquisition and installation of new equipment as part of the company's planned increase in productive
capacity in its facilities located at the above listed addresses.
The report contains the Department's findings relative to the above petitions. Steel Warehouse, LLC
will be purchasing and installing new equipment at the three above locations. The total cost of the three
projects for the equipment is estimated at $4,400,000 to $11,000,000. Each of the three projects meets the
qualifications for five-year (5) personal property tax abatements. A representative from Steel Warehouse
will be available to meet with the Committee on Monday, August 13, 2007.
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 235-5835.
Sincerely,
Bob Mathia
Assistant Director,
Economic Development
Attachments
cc: South Bend Common Council Members
Mayor Stephen Luecke
Jeff Gibney
Don Inks
COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL H~ PROGRAM
PAMELA C. MEYER DONALD E. INKS MANAGEMENT
574/235-9660 574/235-9371 ELIZABETH LEONARD
Fax: 574!235-9697 574/235-9371
1200 COLIN'CY-CITY BUILDING
227 ~/ JEFFERSON BOULEVARD
SOUTH BEND, INDIANA 46601-1830
PHONE 574/235-9371
FAx 574/235-9021
TDD 574/ 235-5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY SL ECONOMIC DEVELOPMENT
JEFFREY V. GIBNEY
EXECUTIVE DIRECTOR
TAX ABATEMENT REPORT
TO: SOUTH BEND COMMON COUNCIL
FROM: BOB MATHIA
SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITIONS FOR:
STEEL WAREHOUSE COMPANY, LLC and AFFILIATES and
EQUIPMENT LESSORS
2722 W. TUCKER DRIVE
1400 W. RIVERSIDE DRIVE
1217 and 1215 S. WALNUT STREET
DATE: July 16, 2007
On July 5,2005, three (3) petitions for personal property tax abatement consideration for
property located at 2722 West Tucker Drive, 1400 West Riverside Drive and 1217/1215 South
Walnut Street were filed with the City Clerk by Steel Warehouse Company, LLC, et al. Pursuant to
Chapter 2, Article 6, Section 2-77 of the Municipal Code of the City of South Bend, the petitions
were referred to the Department of Community and Economic Development for purposes of
investigation and preparation of a report determining whether the areas qualify as Economic
Revitalization Areas 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 petitions,
investigated the areas and makes the following report. The report reviews and summarizes the
requests from Steel Warehouse Company LLC for all three of the personal property abatements.
PROJECT SUMMARY
Steel Warehouse Company LLC is a steel service center with a primary focus on flat rolled,
low carbon steel with operations involving slitting, leveling, pickling, shearing, temper rolling, and
cold reducing. The petitioner also supplies profiling parts through its plasma and laser cutting
operations. In connection with its operations, the company takes substantial positions in steel and
steel products for the future sale and marketing of the same to its customers.
COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL. & PROGRAM
PAMELA C. MEYER DONALD E. INKS MANAGEMENT
574/235-9660 574/235-9371 ELrznaerH LEONARD
Fax: 574/235-9697 574/235-9371
South Bend Redevelopment Commission
RE: Steel Warehouse (Personal Property Abatement)
July 16, 2007 .
Page 2
The first abatement request for personal property at 2722 W. Tucker involves the acquisition
of equipment for manufacturing, servicing, processing and material handling of steel and steel
products, having a total cost expected to be from $2,500,000 to $5,000,000. The acquisition will
enable the company to add capacity to and to modernize its existing manufacturing equipment and
facilities at this location.
The second abatement request for personal property at 1400 W. Riverside is for the
acquisition of equipment for manufacturing, servicing and processing equipment having a total cost
between $1,500,000 and $3,500,000. The acquisition will enable the company to add capacity to
plasma and laser cutting manufacturing equipment at the Riverside location.
The third abatement request for personal property at 1217 and 1215 S. Walnut involves the
acquisition of manufacturing equipment having a total cost expected to be from $400,000 to
$2,500,000. The acquisition will permit the company to add capacity to its tool steel operations.
'The total investment for the three projects is estimated to be between $4,400,000 and
$11,000,000. The amount of the final investment will depend on a number of factors including
trends in the demand for Steel Warehouse's products and the cost and availability of needed
equipment to be acquired between approval of the abatement requests and the expiration of their
approved Economic Revitalization Area (ERA) designations inJuly/August 2009. Depending on the
exact amount of investment, total taxes to be abated during the five-year (5) abatement period are
estimated to be between $268,901 and $672,254. Again, depending on the exact amount of
investment, total taxes to be paid during the five-year (5) abatement period are estimated to be
between $139,930 and $349,824. Taxes to be abated for each of the prof ects are estimated to be as'
follows: (a) Tucker Drive - $152,785 to $305;570; (b) Riverside Drive - $91,671 to $213,899; and
(c) Walnut Street - $24,445 to $152,785. Taxes to be paid for each of the projects are estimated to
be as follows: (a) Tucker Drive - $79,505 to $159,011; (b) Riverside Drive - $47,704 to $111,308;
and (c) Walnut Street - $12,721 to $79,505.
EMPLOYMENT IMPACT
Per the petition, it is estimated that the projects will create up to five (5) new permanent full
time jobs at the Tucker location, four (4) to twelve (12) at the Riverside location and from five (5) to
twenty-five (25) jobs at the Walnut location representing new annual payrolls of $156,000, $130,400
to $391,200 and $156,000 to $780,000 respectively at the three facilities. The project is also
expected to retain a total of four hundred and eighty-one (481)full-time j obs, representing an annual
payroll of $22,707,500 at the facilities.
South Bend Redevelopment Commission
RE: Steel Warehouse (Personal Property Abatement)
July 16, 2007
Page 3
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted finds that the petitioner has been granted the
following previous tax abatements:
Term/Type 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 11, 1994
10 year real property 237.1-96 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-O1 Sept. 24, 2001
10 year real property 3036-01 Sept. 24, 2001
5 year personal property 3380-04 Sept. 27, 2004
5 year real property 3381-04 Sept. 27, 2004
5 year personal property .3382-04 Sept. 27, 2004
The petitioner is in compliance with the reporting requirements for the previous abatements.
2. The Building Commissioner has reviewed the petitions and finds the properties to be properly
zoned for the proposed projects. The Commissioner noted that two of the facilities (Tucker Drive
and Walnut Street) recently have been issued building permits for construction. However, those
permits are not related to the personal property abatements requested above.
3. A review of the South Bend Redevelopment designation areas finds that the properties located at
2722 W. Tucker Drive and 1217/1215 Walnut Street are located in the Sample Ewing
Development Area, which is a Tax Increment Allocation Area; therefore, the petitions for
personal property tax abatement for those two locations must first be approved by the South
Bend Redevelopment Commission. The 1400 Riverside Drive location is not in a
South Bend Redevelopment Commission
RE: Steel Warehouse (Personal Property Abatement)
July 16, 2007
Page 4
Redevelopment designated area and, therefore, no action by the Commission is required for that
location.
4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the
qualifications for a five (5) year personal property tax abatement under Section 2-84.2 (Tangible
Personal Property Tax Abatement) for the 2722 W. Tucker Drive, 1400 W. Riverside Drive and
1217/1215 S. Walnut Street locations.
Tax Abatement Schedule prepared for:
STEEL WAREHOUSE (Tucker Drive)
South Bend Portage 5 Year Personal Property Abatement Schedule'
Total estimated Equipment Cost: $2,500,000
Assume constant tax rate of: 5.1524
Assume constant SRTC rate of: 7.0433
TTV Assessed Gross Less Net Percent Tax
Year TN% (Year 1-5) Value Tax SRTC Tax Abated Abated
1 0.40 $1,000,000 $1,000,000 $51,524 $3,629 47,895 100% $47,895
2 0.56 $1,400,000 $1,400,000 $72,134 $5,081 67,053 80% $53,643
3 0.42 $1,050,000 $1,050,000 $54,100 $3,810 50,290 60% $30,174
4 0.32 $800,000 $800,000 $41,219 $2,903 38,316 40% $15,326
5 0.24 $600,000 $600,000 $30,914 $2,177 28,737 20% $5,747
$249,891 $17,601 232,290 $152,785
Total Taxes Due During Abatement:
Total Taxes Abated During Abatement:
Total Taxes Paid During Abatement:
$232,290
$152,785
$79,505
16-Jul-07
Tax
Paid
$0
$13,411
$20,116
$22,989
$22,989
$79,505
-This schedule is for estimation purposes only and assumes constant tax rates.
The true tax values will ulimately be determined by the actual
assessed valuation and the then current tax rates.
Tax Abatement Schedule prepared for:
STEEL WAREHOUSE (Tucker Drive)
South Bend Portage 5 Year Personal Property Abatement Schedule*
Total estimated Equipment Cost: $5,000,000
Assume constant tax rate of: 5.1524
Assume constant SRTC rate of: 7.0433
TTV Assessed Gross Less Net Percent Tax
Year TTV% (Year 1-5) Value Tax SRTC Tax Abated Abated
1 0.40 $2,000,000 $2,000,000 $103,048 $7,258 95,790 100% $95,790
2 0.56 $2,800,000 $2,800,000 $144,267 $10,161 134,106 80% $107,285
3 0.42 $2,100,000 $2,100,000 $108,200 $7,621 100,579 60% $60,347
4 0.32 $1,600,000 $1,600,000 $82,438 $5,806 76,632 40% $30,653
5 0.24 $1,200,000 $1,200,000 $61,829 $4,355 57,474 20% $11,495
$499,782 $35,201 464,581 $305,570
Total Taxes Due During Abatement:
Total Taxes Abated During Abatement:
Total Taxes Paid During Abatement:
$464,581
$305,570
$159,011
16-Jul-07
Tax
Paid
$0
$26,821
$40,232
$45,979
$45,979
$159,011
-This schedule is for estimation purposes only and assumes constant tax rates.
The true tax values will ulimately be determined by the actual
assessed valuation and the then current tax rates.
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A
r
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 I.C., 6-1.1-
12.1, etet seg•, and South Bend Municipal Code Section 2-84.2, et sea., for this petition states the
following:
1. Describetheproposedproject,includinginformationaboutthenewmanufacturingequipment
personal property ("equipment") to be installed, the amount of land to be used, if any, an
estimate of the cost of the project, the proposed use of the equipment, and a general
statement as to the value of the project to your business. The project involves acquisition of
equipmentformanufacturing,servicing, processingandmaterialhandlingofsteelandsteel
products, having a total cost expected to be from $2.5 million to $S. 0 million. The project
wild enable Petitioner to add capacity to and to modernize its existing manufacturing
equipment and facilities
2. It is anticipated that the project will create up to five (5) new permanent full time j obs, which
would represent a new annual payroll of$156, 000 and will help Petitionerto maintain its 446
existing permanent full time representing an annual payroll of $20, 605, 400. The projected
annual salaries for each position are as follows: An average of $15.00 per hour
3. Estimate the total cost of the Equipment: A minimum of $2.5 million and a maximum of
$S.0 million.
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): Inapplicable
NAME ADDRESS INTEREST
Steel Warehouse Company LLC 2722 W. Tucker Drive Owner
and Aff liates South Bend, IN 46619
and Equipment Lessors
(b) The following other persons lease, intend to lease, or have an option to buy this Equipment
(include corporate information as required in (4)(a) above, if applicable): Inapplicable
NAME ADDRESS INTEREST
5. Give a brief description ofthe 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, law carbon steel,
with operations irrvolving slitting, leveling, pickling, temper rolling shearing and cold
reducing. Petitioner also supplies profiling parts through its plasma and laser cutting
operations. In connection with its operations, Petitioner takes substantial positions in steel
and steel products for the future sale and marketing of the same to its customers.
6. The commonly known address of the Property where the Equipment will be located are:
2722 W. Tucker Drive, South Bend, Indiana
7. The Key Numbers of said property are: 18-8075 - 2838; 2839; 2843; 2844.03; 2844.04;
2844.06; 2845.01; 2845.02; 2845.03.
8. Attach the legal description of the Properties 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 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 new
manufacturing equipment approximately $700,000.
12. The current use of the real property where the equipment will be installed is for
manufacturing and the current zoning is E Heavy Industrial (use) and F (height and area).
13 . List the real and personal property taxes paid by the Petitioner during the previous five years,
whether paid by the current owner or a previous owner.
YEAR REAL PROPERTY TAXES PERSONAL PROPERTY TAXES
2002 $291, 362. $430, 358.
2003 $298,005 $308,124.
2004 $352, 540. $375, 245.
ZOOS $300, 892. $341,165.
2006 $331, 045. $299, 235.
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).
Petitioner naw and in the past has maintained a policy of hiring and promoting
withoutdiscriminationwithrespecttorace, creed, colororgender. Therrumberofminority
full time employees in the comparry totalled 119 in 2002, 130 in 2003, 132 in 2004, 129 in
2005 and 129 in 2006. Currently the comparry has a total of 446 full time employees and
129 minority full time employees.
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. S million to $S. 0 million.
17. What is your best estimate of the amount of taxes to be abated during each of the five years
after installation? Assuming an investment of $2.5 million in equipment, the estimated
amount of taxes to be abated are as follows: Year 1- $22, SOD; Year 2 - $18, 000; Year
3 - $13, 500; Year 4 - $9, 000; Year S - $4, 500.
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. ThestandardIndustrialClassificationManualmajorgroupwithinwhichtheproposedproject
would be classified, by number and description:
2
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:
SOSO
22. Therealpropei.tywheretheEquipmentwillbeinstalledislocatedinthefollowingAllocation
Area, if any, declared and confirmed by the South Bend Redevelopment Commission:
23. Otheranticipatedpublicfinancingfortheprojectincluding, ifany, industrialrevenue-bonding
to be sought or already authorized, assistance through the United States 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
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:
Petitioner intends to add mamrfacturing equipment as well as replace certain
equipment, which is under capacity for a significant portion of its production.
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 andthatthe equipmentwas neverbefore used by its owner for anypurpose
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: Steel Warehouse Comparry LLC - P. O. Box 1377
City, State, Zip Code: South Bend, IN 46624
Telephone: (574) 236-5130
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
noticeandpublichearing, determinequalificationsforaneconomicrevitalizationareahavebeenmet,
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)
(Typed or printed Warne and capacity of signor if
signed by an agent or representative of the owner)
(tan@ble personal prop aug 200'n
.. .
STATEMENT FOR THE 2007 PROJECT
FOR TAX ABATEMENT
The project involves an investment in new manufacturing, servicing, processing and material
handling equipment, thatwillincreasePetitioner'sproductioncapacityin several ofPetitioner's areas
of focus. It will also improve Petitioner's ability to meet customer demand for products currently
beyond Petitioner's production capacity. The project is expected to create up to five new full time
jobs with an annual payroll increase of approximately $156,000; and to help the Petitioner retain 446
existing full time jobs, with salaries in the range of $31,200 per year.
Petitioner is a steel service center with a primary focus on flat rolled, low carbon steel. Its
operations involve slitting, leveling, pickling, shearing, temper rolling, cold reducing and production
of profiling parts through plasma and laser cutting. The proposed project will allow Petitioner to
expand its production capacity of flat rolled steel in both leveling of steel coils with narrow widths,
and pickling of steel coils with heavier gauges.
&xpC`FS
~UL _ 5 2001
A ~~' L
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EXHIBIT A
A part of the South '/z of the Northwest 1/4 of Section 15, Township 37 North,
Range 2 East in the City of South Bend, St. Joseph County, Indiana, described as
follows:
Beginning at a point on the East line of the Southwest 1/4 of the Northwest 1/4 of
said Section 15, 580.64 feet South of the Northeast corner of said Southwest 1/4
of the Northwest 1/4, said point being 172.0 feet North of the North right of way
line of the Indiana Northern Railway Company; thence Westerly parallel with
said North right-of--way line 565 feet to the Southwest corner of a tract of land
conveyed to Stanley Enterprises, Inc. By a deed recorded October 16 , 1993 in
Deed Record 777, page 226; thence North along the West line of said Stanley
Enterprises, Inc. tract, said line being parallel with the East line of said Southwest
1/4 of the Northwest 1/4, 323.0 feet to the South line of Tucker Drive; thence
West along the South line of Tucker Drive 215.93 feet; thence South parallel with
said East line of the Southwest 1/4 of the Northwest 1/4, 495.90 feet to the North
right-of--way line of the Indiana Northern Railway Company; thence Easterly
along said North right-of--way line, 860.23 feet to the West edge of Steel
Warehouse Co. Inc.'s building; thence North along said West edge of building,
172.0 feet; thence Westerly parallel with the North right-of--way line of the
Indiana Northern Railway Company, 79.3 feet to the point of beginning,
containing 5.0 acres, more or less.
A part of the Southwest Quarter of the Northwest Quarter of Section 15,
Township 37 North, Range 2 East in the City of South Bend, Indiana, more
particularly described as follows:
Beginning at a point 260 feet South and 25 feet West of the Northeast corner of
said Southwest Quarter of the Northwest Quarter, thence West 540 feet; thence
South parallel with the East line of said Southwest Quarter of the Northwest
Quarter, 324.25 feet to a point 172 feet North of the North line of the right-of--way
of the Indiana Northern Railway Company; thence East parallel with said North
line of said right-of--way, 540 feet; thence North parallel with the East line of said
Southwest Quarter of the Northwest Quarter, 320.75 feet to the place of
beginning.
A tract of land in the West Half ('/z) of the Northwest Quarter (1/4) of Section
Fifteen (15), Township Thirty-seven (37) North, Range Two (2) East, now within
and a part of the City of South Bend, St. Joseph County, Indiana, more
particularly described as follows:
Beginning at the center of the Northwest Quarter (1/4) of said Section Fifteen
(15); thence South along the Norther and South center line of said Quarter Section
Two Hundred Twenty (220) feet to the North line of Tucker Drive; thence West
along said North line to the West line of said Section Fifteen (15); thence North
along said West line One Hundred Twenty-eight and One Tenth (128.1) feet,
more or less, to a line Two Hundred Fifty (250) feet by rectangular measurement
Southeasterly from said original centerline of the New York Central Railroad
right-of--way; thence Northeasterly parallel to the Two Hundred Fifty (250) feet
by rectangular measurement Southeasterly from said original centerline of the
New York Central Railroad right-of--way, Seven Hundred Twenty-seven and One
One-Hundredth (727.01) feet, more or less, to a point on the East line of the
Southwest Quarter (1/4) of the Northwest Quarter (1/4) of the Northwest Quarter
(1/4) of Section Fifteen (15); thence Southerly along said East line One Hundred
Ninety-nine and Eighty-six Hundredths (199.86) feet, more or less, to the South
line of the Northwest Quarter (1/4) of the Northwest Quarter (1/4) of Section
Fifteen (15); thence East along said South line Six Hundred Sixty-three and Fifty-
two hundredths (663.52) feet, more or less, to the place of beginning, excepting
Thirty (30) feet offthe East side thereof for purposes of a public highway.
A lot or parcel of land situated in the Northwest Quarter of Section 15, Township
37 North, Range 2 East, now within and a part of the City of South Bend,
bounded by a line running as follows, to-wit: Beginning at a point on the North
line of the Southeast Quarter of the Northwest Quarter of said Section 15, 600 feet
West of the Northeast corner of the Southeast Quarter of the Northwest Quarter of
said Section 15; thence running West along said North line a distance of 725.8
feet to the Northwest corner of said Southeast Quarter of said Northwest Quarter;
thence South a distance of 220 feet, more or less, to the North line of a 40 foot
road known as Tucker Drive; thence East along the North line of said roadway to
a point due South of the place of beginning; thence North to the place of
beginning. Together with and subject to an easement over the 40 foot roadway
lying immediately South of the above described real estate known as Tucker
Drive, and extending Eastward to Olive Street.
Part of the Southeast Quarter (1/4) of the Northwest Quarter (1/4) of Section
Fifteen (15), Township Thirty-seven (37) North, Range Two (2) East, now within
and a part of the City of South Bend, described as beginning at a point 260 feet
South of the Northwest corner of the Southeast Quarter (1/4) of the Northwest
Quarter (1/4) of said Section Fifteen (15); thence South 492.9 feet to the North
line of the right-of--way of the Indiana Northern Railroad; thence East along the
said North line of the right-of--way of the Indiana Northern Railroad 305 feet;
thence North 492.9 feet; thence West 305 feet to the place of beginning.
Together with aright-of--way over a 40 foot roadway North of and adjoining the
aforedescribed tract, and continuing Easterly to Olive Street, which said 40 foot
roadway is now commonly known as Tucker Drive in said City of South Bend.
The East Half of the South East Quarter of the North East Quarter of Section No.
16, Township No. 37 North, Range No.2 East, containing 20 acres, more or less,
and being Lot No. 16 in the Sub-division of said Section No. 16, and now within a
part of the City of South Bend, excepting there from the following:
2
The original right-of--way across, the North West corner heretofore
conveyed by Joseph B. Arnold, to the Indiana Illinois, and Iowa Railway
Company by Warranty Deed dated August 21, 1894, and recorded in Deed
Record 95, page 553, of the records of St. Joseph County, Indiana; and
excepting second the following: Beginning at a point on the West line of
said Lot Numbered 16, where the same is intersected by the South
Easterly line of said original right-of--way, thence running South on the
west line of Lot Numbered 16, 219 feet, more or less, to a point distant
250 feet by rectangular measurement from the original center line of said
right-of--way; thence North Easterly parallel with and 250 feet distant by
rectangular measurement from the original center line of said right-of--way
a distance of 733..3 feet, more or less, to a point on the East line of said
Section No. 16, thence North on said East line, a distance of 105.5 feet,
more or less, to the North East corner of said Lot No. 16; thence West
along the North line of said Lot No. 16, thence North on said East line, a
distance of 105.5 feet, more or less, to the North East corner of said Lot
No. 16; thence West along the North line of said Lot No. 16, a distance of
254.5 feet, more or less, to the intersection with the said Easterly line of
said original right-of--way; thence South Westerly with said Easterly line a
distance of 454.5 feet, more or less, to the place of beginning, containing
3.04 acres, more or less; excepting third, all that part of said Lot No. 16
which lies South of the North line of the right-of--way of the St. Joseph,
South Bend and Southern Railroad Company, excepting fourth, a strip of
land 70 feet wide North and South lying next north of and adjoining the
right-of--way of the St. Joseph, South Bend and Southern Railroad
Company; excepting further that a strip of 40 feet in width, North and
South, and being a extension of Tucker Drive, shall be established through
the Northerly part of said tract and dedicated to the public as a highway,
which said extension shall extend to the right-of--way of the New York
Central Railroad Company.
All that part of the Southwest.Quarter of the Northwest Quarter of Section
15, Township 37 North, Range 2 East, described as follows: Beginning at
a point 260 feet South and 330 feet West of the Northeast corner of the
said Southwest Quarter of the Northwest Quarter; thence West 996.08 feet
to the West line of said section; thence South 498.35 feet to the North line
of the right-of--way of the Indiana Northern Railway Company; thence
Easterly along the said Northerly line of said Indiana Northern Railway
Company a distance of 996.08 feet, more or less, to a point on the
Northerly line of the said Indiana Northern Railway Company South of
the place of beginning; thence North to the place of beginning.
Beginning in the center line of Olive Street in said City at a point Seven
Hundred Eighteen and twenty-five hundredths (718.25) feet South of the
North line of said Section No. 15, said point of beginning being on the
Southerly line of a strip of land Fifty (50) feet wide reserved for the right
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of way of the Indiana Northern Railroad Company thence running South
on the center line of Olive Street, a distance of Six Hundred Eight and
fifteen-hundredths (608.15) feet to the South east corner of said North East
quarter of the North West quarter of Section No. 15; thence running West
on said South line, a distance of Thirteen Hundred twenty-seven (1327)
feet to the West line of said quarter quarter Section, thence North on said
West line, a distance of Four Hundred Ninety-three and four hundredths
(493.04) feet to the Southerly line of said parcel deeded by said Grantors
to the New York central Railway Company; thence North Easterly along
the Southerly line of said last named parcel to a point on the South line or
the right of way of the Indiana Northern Railroad Company due West of
the place of beginning; thence East ten hundred Fifty-seven and Thirteen
hundredths (1057.13) feet, more or less, to the place of beginning, and
containing Seventeen and seven hundred Sixty-one thousandths (17.761)
acres, exclusive of Olive Street.
All that part of the East Half of the North West Quarter of the North West Quarter
of Section No. 15, Township No. 37 North, Range No. 2 East, that lies South of
the right-of--way of the Indiana, Illinois, and Iowa Railroad Company (now New
York Central Railroad), now within and a part of the City of South Bend;
excepting therefrom a lot or parcel of land bounded as follows:
Beginning at the intersection of the South Easterly line of said right-of--way and
the East line of the East Half of the Northwest Quarter of the North West Quarter
of said Section No. 15, thence running South Westerly along the South Easterly
line of said right-of--way to the West line of the East Half of the North West
Quarter of the North West Quarter of said Section; thence running South 219 feet,
more or less, to a point; thence North Easterly parallel with and 219 feet South of
the Southerly line of said right-of--way to the East line of the East Half of the
North West Quarter of the North West Quarter of said Section No. 15; thence
North 219 feet, more or less, to the place of beginning.
4
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