Confirming Tax Abatement - 1840 North Commerce Drive - Stanz Food Service, Inc.

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CITY OF SOUTH BEND PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for real property tax abatement consideration and pursuant to I.C. 6-1.1-12 1-1, et seg., and South Bend Municipal Code Section 2-76, et seg., for this petition states the following: 1. Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the proposed use of the improvements, and a general statement as to the importance of the project to your business. Stanz Foodservice, Inc. and/or Stanz Realty Company ("Stanz") propose to make a substantial investment in new real estate construction and rehabilitation at Stanz's primary warehouse and distribution facility located at 1840 N. Commerce Drive in South Bend. This includes investments of (a) between $6,000,000 and $8,000,000 to construct a new cold/freezer warehouse facilitytotaling approximately 48,000 square feet adjacent (and to be connected to) Stanz's existin facility; and (b) between $600,000 and $800,000 to rehabilitate Stanz's existing office and warehouse facility. The overall investment and proposed project is necessary to enable Stanz to (a) increase the size of its warehouse and distribution facility, (b) enhance operating_ efficiencies through new cold/freezer warehouse technology, and (c) accommodate growth in its full line rocery warehouse and distribution business. This investment is in addition to land acquisition costs to be incurred by Stanz to facilitate using its site in the South Bend Airport Industrial Park for the expansion. Land Size approximately 13.50 acres; Building Size 110,000 (existing) and 48,000 (proposed new) sq. ft. 2. Describe the overall nature of the business and of the operations occurring at the Property (Please attach additional sheet if more space is needed): Stanz is a full line food service distribution business which serves customer within a 100- 120 mile radius of South Bend. Stanz uses its warehouse and distribution facility to store dry, refrigerated and frozen goods and to facilitate the transfer and delivery of such goods to customers throughout Northern Indiana and Southern Michigan. 3. Estimate the dollar value of the project (excluding land): $6,600,000 - $8,800,000 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: $966,100 (a) The real property for which tax abatement consideration is petitioned (Property) is -1-