Confirming Tax Abatement - 3702 Progress Drive - Parrish/Meyer Machine, Inc.

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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, et seg•, and South Bend Municipal Code Section 2-84.2, et se for this petition states the following: 1. Describe the proposed project, including information about the new manufacturing equipment personal property (Aequipment@) 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. Addition of one new Mori Seiki NH-5000/40 DCG machine for production machinina. This machine will allow us to machine additional parts for our client thereby growing our business and our employment opportunities. 2. The project will create two new, permanent jobs within the first year, representing a new annual payroll of $ X01,486 and will maintain existing permanent full-time and ~_ existing part-time jobs representing an annual payroll of $ ~51,.48F The projected annual salaries for each new position created are estimated to be as follows: machinist 1st shift @$12.00/hr = $25,000.00 per year machinist 2nd shift @$12.00/hr = $25,000.00 Rr year 3. Estimate the total cost of the Equipment: - $400,000.00 4. (a) The Equipment is owned or to be owned by the following individuals or corporations (if the business organization is publicly= 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 1st Source Bank PO Box 1602 South Bend, IN 46634 100% 1