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IMAGINEERING"' <br /> Filed in Clerk's Office <br /> ®� <br /> N FINISHING T1sCI1N01,OGIFS ---� <br /> Vie lnJns lq•AlmnhvlA45nnrce'fivAlelal FlnlslJn.1Bnfu1iuui <br /> ESEPO 5 2018 <br /> May 15,2018 <br /> KAREEMAh9 FOWLER <br /> City of South Bend CITY CLERK,SOUTH BEND,IN <br /> Department of Community Investment <br /> 227 W.Jefferson Blvd. <br /> South Bend, IN 46601 <br /> Re: Real Estate and Personal Property Tax Abatements <br /> Over the past 60 years, Imagineering experienced phenomenal growth. We grew from a single facility with one major <br /> customer, into three fully occupied factories serving over 750 customers(two in South Bend and one in Indianapolis). We <br /> have reached 130,000 square feet under roof and increased the size and capacity for each of our product lines. We <br /> modernized our processing capabilities and added product lines.As a result of these improvements our sales doubled over <br /> just the past 10 years. <br /> This success is a direct result of our team's hard work and dedication. Without everyone's dedication to excellence, these <br /> achievements never could have been realized. As we continue to grow, our trajectory is on pace to exceed our previous <br /> accomplishments,tripling our size. We are at a point in our business where further investment is required for this additional <br /> growth to occur. <br /> We were awarded an abatement on September 26'x',2016 for expansion involving both real estate and personal property at <br /> 3722 Foundation Court. At that point in time,we expected to invest$500,000 in real estate expansion and$3,000,000 in <br /> personal property;creating approximately 25 positions($780,000 in payroll)over the next five years. <br /> Today,we expect to invest approximately$2,500,000 between both of our locations in South Bend(3722 Foundation Court <br /> and 1302 W. Sample Street). <br /> 3722 Foundation Court <br /> We intend on expanding the building by approximately 15,500 square feet;costing approximately$1,500,000. Along with <br /> expanding the building,we will expand our current process offering by adding"Passivation"capabilities to our portfolio; <br /> costing approximately$325,000-$550,000. <br /> 1302 W.Sample Street <br /> We intend on expanding our process offerings by adding "Anodize" capabilities to our portfolio; costing approximately <br /> $450,000. <br /> With this additional real estate and process expansion comes job creation; we expect these investments to create <br /> approximately 25 positions; adding an additional$780,000 to our payroll over the next five years. <br /> We are requesting the original abatement to be modified according the new business plans. <br /> Respectfully, <br /> 9" —�- <br /> Joseph Rowan <br /> CFONP of Finance <br />