09-27-99 Community & Economic Development

Home Browse Search

Community and Economic Development Committee September 27, 1999 Page 2 The Committee then reviewed Bill No. 99-91 which is a five(5)year personal property tax abatement request for Lock Joint Tube,Inc./Keycorp Capital Leasing/Steel Warehouse,Inc for the property located at 515 West Ireland Road. Mike Beitzinger reviewed his September 17, 1999 report (copy attached) which noted that the petitioner manufactures commercial steel tubing. The equipment cost is projects to cost between $ 2.5 and $ 3.5 million. The report concluded that the petitioner meets the qualifications under§ 2-84.2 of the South Bend Municipal Code. Phil Faccenda,the attorney for the petitioner, made the presentation. He oted that this is Phase I of a two(2)phase project,with Phase II taking place in 2001. Council Member Kelly noted that the petitioner has been a highly suc ssful company which provides quality employment for members of our community. ike Beitzinger noted that the company was in bankruptcy in the 1980's and that th Petitioner has continued to expand and enlarge its operations ever since. Council Member King made a motion, seconded by Council Member Uj k that Bill No. 99-91 be recommended favorably to Council. The motion passed. The Committee then reviewed Bill No. 99-92 which is a five(5)year pers al property tax abatement request for the property located at 1215 South Walnut Street an Bill No. 99-93 which is a real property tax abatement request for the property locat at 1215 South Walnut Street for Lock Joint Tube Inc and Steel Warehouse, et al.,respec vely. Mike Beitzinger reviewed his report dated September 14, 1999 whic noted that the proposed equipment will cost between$ 1.5 and$2.5 million and that 4- new permanent full time positions would be created. The report concluded that the peti ioner meets the qualifications for a ten (10) year real property tax abatement under § 2-82 of the South Bend Municipal Code and a five(5)year personal property tax abatement under§ 2-84.2 of the South Bend Municipal Code. Mr. Faccenda gave further details and noted that the company is located near the Ice Box. In response to a question from Jean Troutman-Poole, he noted that 50 of 240 employees at the Ireland Road facility are minority and 6 of 45 at the Walnut facility are minority. Council Member King made a motion, seconded by Council Member Sniadecki that Bill Nos. 99-92 and 99-93 be recommended favorably to Council. The motion passed. The Committee then reviewed Bill No. 99-94 which is a five(5)year personal property tax abatement request for the property located at 4401 West Cleveland Road Extension for Adapto-Indiana, Inc. and Bill No. 99-95 which is a ten (10) year real property tax abatement request for the property located at 4401 West Cleveland Road Extension for Cleveland Partners, L.P. Mike Beitzinger reviewed his September 13, 1999 report which noted that the petitioners propose to build a new 50,500 square foot manufacturing facility and then lease it. The building cost is projected at$ 1.9 million and the new machinery and equipment cost is