Confirming Tax Abatement - 1215 S. Walnut St. - Lock Joint Tube, LLC

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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. 1-1 et sec ., and South Bend Municipal Code Section 2-84.2 et sec ., for this petition states the following: Describe the proposed project, including information about the new manufacturing equipment personal property ("equipment") to be installed, the amount of land to be used, if any, the proposed use of the equipment, and a general statement as to the value of the project to your business. This proposed project consists of the acquisition and installation of new machinery and equipment, including without limitation, milling and fabricating equipment for use in Lock Joint Tube, LLC's Walnut Street facility in South Bend. This equipment will increase the efficiency and accurac~of precision milling and fabrication as well as reduce scrap steel in the Company's operations. The entire cost for this proposed project is estimated to be between $2,200,000 and $3,200,000. Investment in this new equipment will support the Company's ability to cut and fabricate heavier Qauge steel, with more precision, thereby enhancing our position within a very competitive industry 2. The project will create at least 0 new, permanent, jobs within the first year, representing a new annual payroll of at least N/A and will maintain 42 existing permanentfull-time and 0 existing part-time jobs with an annual payroll of $_1,352,000` (Walnut Street). The projected annual salaries for each position are as follows: N/A 3. Estimate the cost of the Equipment: Lock Joint Tube, LLC estimates the cost of the new equipment will be between $2.2 and $3.2 million. 4. (a) The Equipment is owned or to be owned by the following individuals or corporations (if the business organization ispublicly-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): NAME ADDRESS INTEREST Lock Joint Tube, LLC 515 W. Ireland Road Owner South Bend, Indiana 46614