Confirming Tax Abatement - 3722 Foundation Court - Imagineering Enterprises, Inc.

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: Kathy Hahn SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: Imagineering Enterprises, Inc. DATE: August 1, 2007 On July 27, 2007, a petition for personal property tax abatement consideration for property located at 3722 Foundation Court Drive, South Bend was filed with the City Clerk by Imagineering Enterprises, Inc. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition, investigated the area, and makes the following report. PROJECT SUMMARY Imagineering Enterprises, Inc. intends to acquire a vacant 59,000 square foot building at 3722 Foundation Court, South Bend, IN. The acquired building will be the processing facility and office of their operation in South Bend. The estimated total cost of the project is $5.1 million with new equipment being installed at a cost of $3.5 million. The processing facility will provide electroless nickel plating, phosphate coatings, passivation processes, non destruction testing and quality assurance testing for client's components as the final step in the manufacturing process. The new equipment for the manufacturing process will include lab equipment, wet processing and phosphate passivation equipment, paint line, NDT equipment, and waste treatment equipment.