Laserfiche WebLink
TOYO SEIKO NORTH AMERICA Inc. <br /> World Leading Company for Shot Peening Media <br /> June 17, 2022 Filed in Clerk's Office `} <br /> JUN' 2 2 2J'' <br /> On the 181 of December 2019, Toyo Seiko was granted tw tax hhatemPnt fnr a � <br /> new project to be located at 3585 Moreau Ct. South Bend ^,'N M. ._IoNEs <br /> p �i L L SOUTH BEND,IN <br /> abatements were as follows. ~� <br /> Real Property Abatement Bill # 19-79 Confirming Resolution 4832-19. This <br /> abatement had a commitment of 1,600,000.00 for building and improvements <br /> for the above address. <br /> A personal property abatement Bill 319-81 Confirming Resolution 4834-19 <br /> This abatement had a commitment of$1,055.000.00. <br /> We began construction of this facility in the fall of 2020 with completion <br /> targeted for May of 2021. Mid project the covid-19 pandemic began. <br /> The building and grounds were completed end of May 2021. The amount <br /> expended exceeded the abatement commitment. However, we failed to properly <br /> submit tax deduction forms to the St. Joseph County Auditor Office in May <br /> 2021 AND May 2022 and therefore we received assessed tax bills. The tax <br /> deduction forms including 322 RE were filed on June 14', 2022 <br /> Even though we were able to meet our goals on the building construction, we <br /> encountered significant delays on purchasing the equipment due to the supply <br /> chain crisis. An unexpected but temporary drop in revenue negated the need for <br /> the additional equipment. Once this passed, the shipping cost to bring the <br /> machines from overseas had gone from $30,000 to $200,000. This caused Toyo <br /> Seiko to delay shipping the machines until ocean container pricing returned to <br /> normal rates. Employment commitments and actual jobs as of today to retain <br /> four permanent jobs and create one full time job within two years have been <br /> met. <br /> Toyo Seiko is therefore requesting a two-year waiver on real property <br /> abatement#4832-19. We are also requesting an extension of the designation <br /> period on personal property abatement #4834-19 for an additional two years. <br /> Sincerely, <br /> Larry A Ca zarite <br /> Corporate Secretary. <br /> 3585 Moreau Ct.South Bend In. 46628 <br /> TEL:+1-574-288-2000 <br /> Email: sales@toyoseiko-na.com URL: http://www.toyoseiko-na.com/ <br />