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227 W. JUMSON BOULEVARD <br />SUFTE 1400 S. <br />Scum BEND, IN 46601 -1830 <br />August 17, 2016 <br />CITY OF SOU'T'H BEND PETE BUTnma, MAYOR <br />COMMUNITY INVESTMENT <br />Council Member Gavin Ferlic, Chairperson <br />Community Investment Committee <br />South Bend Common Council <br />4th Floor, County City Building <br />South Bend, IN 46601 <br />RE: Personal Property Tax Abatement Petition for: 3B Tech, Inc. <br />Dear Council Member Ferlic: <br />Bill No. 16 -65 <br />Pnom 574t235 -9371 <br />FAx: 574/235 -9021 <br />Filed in Clerk's Office <br />AUG 17 2016 <br />KARMMAH FOWLER <br />CITY CLERK, SOUTH BEND 9 IN <br />Please find the attached I information pertaining to a personal property tax abatement <br />petition for 3B Tech, Inc.: <br />➢ Department of Community Investment's summary report <br />➢ Copy of the petition <br />➢ Statement of Benefits form <br />➢ Supporting information. <br />The report contains the Department's findings relative to the above petition. 3B Tech, <br />Inc. will be purchasing and renovating the old Invacare facility. This will enable them to <br />continue to grow their brand and e- commerce businesses, remain in South Bend, and <br />expand their workforce. 3B Tech plans to renovate the existing warehouse with new <br />racking, automation, and support equipment. At the same time, they plan to expand the <br />existing tech room and add a lab to support in house R&D for new products. 3B Tech, <br />Inc. plans to spend approximately $640,000 on the purchase of new equipment along <br />with $200,000 towards building improvements. The project meets the qualifications for a <br />(5) five year personal property tax abatement. A representative from 3B Tech, Inc. will <br />be available to meet with the Committee on Monday, August 22, 2016. <br />Should you or any of the other Council members have any questions concerning the <br />report, or need additional information, please feel free to call me at 235 -5823. <br />Sincerely, <br />/4 /e-r� <br />Aaron Kobb <br />Director of Economic Resources <br />PLANMG NEIGHBORHOOD ENGAGEMENT BUSUG S DEVEiAWM1RNr ECONOMIC RESOURCES <br />DM CORCORAN PAMELA G MEM BRIAN PAWUMM AARON KOBB <br />