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in Clerk's Office <br /> 0 8 2023 <br /> UAWRI M.JONES <br /> 1141ft,, CITY OF SOUTH BENDS clf RKSOUTH BEND,IN <br /> COMM UNITY INVESTMENT <br /> March 8, 2023 <br /> Council Member Rachel Tomas Morgan <br /> Chairperson, Community Investment Committee <br /> South Bend Common Council <br /> 4th Floor, County City Building <br /> South Bend, IN 46601 <br /> RE: Declaratory Resolution: Commercial Development Real Property Tax Abatement for <br /> 7468 Vorden Parkway, LLC (Coast Southwest, Inc) <br /> Dear Council Member Tomas Morgan, <br /> Please find the enclosed information pertaining to an industrial development real property tax <br /> abatement petition submitted by Coast Southwest, Inc., a California S corporation. Coast Southwest <br /> is a chemical distribution and ingredient technology company. The company has formed an Indiana <br /> limited liability corporation named 7468 Vorden Parkway, LLC, as a subsidiary of the parent <br /> company. Coast Southwest will construct a new building at 7468 Vorden Parkway on the northwest <br /> side of South Bend at the southwest corner of Vorden Parkway and Didam Boulevard. <br /> This petition package includes: <br /> • Department of Community Investment's summary report <br /> • Petition <br /> • Statement of Benefits form (SB-1 / Real Property) <br /> • Supporting information <br /> The report contains the Department's findings relative to the above petition. The petitioner plans to <br /> construct a new distribution center on Vorden Parkway. Once constructed, Coast Southwest will <br /> relocate their current distribution center from Illinois to South Bend. Relocating their <br /> distribution center to South Bend is anticipated to create 43 new jobs over the next 10 years. The <br /> average hourly wage will begin at$31.07 in year 1 and will increase to $44.31 at the end of the 10- <br /> year period. The total private investment to develop this new industrial real property is$8.203 <br /> million. The project meets the qualifications for a ten-year(10)commercial development real <br /> property tax abatement, and a representative from Coast Southwest, Inc., will be available to meet <br /> with the Committee on Monday, March 13, 2023. <br /> Should you or any of the other Council members have any questions concerning the report or need <br /> additional information, please feel free to call me at(574)235-5838. <br /> Sincerely, <br /> Erik Glavich <br /> Director, Growth and Opportunity <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 14005 County-City Building 227W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />