Confirming Tax Abatement - 4747 W. Cleveland Road - Tuliptree Associates, LLC/ PEI-Gensis, 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 sea., and South Bend Municipal Code Sec. 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: Tuliptree Associates, LLC ("Tuliptree") is in the process of acquiring undeveloped land in South Bend to build a new manufacturin fg acility. The initial facili will be approximately 142,400 sf; however; the site will support a facility in excess of 350,000 sf and the buildin ig s bein designed to accommodate phased ex ansion. The facility will be leased to PEI/Genesis, Inc. ("PEI"). Tuliptree and PEI have common ownership. This property will be Tuliptree's only investment. PEI will use the facility as its main world-wide production facility. PEI will consolidate its North American manufacturing operations in this facility retaining 140 full time jobs (total annual payroll of $3.7 million) in South Bend and generating 12 new jobs in the first year of production. Over 80% of PEI's revenue will be generated from this facility and the facility will employ more than 40% of PEI's total employees. Products will be made and shipped to a1150 states and over 50 countries. The success of this project is critical to PEI's future growth and prosperity. Land Size 20 acres; Building Size 142,400 sq.ft. 2. Describe the overall nature of the business and of the operations occurring at the Property (attach additional sheet if more space is needed): PEI `s core business is the manufacture, assembly and distribution of electronic components, primarily electronic connectors. The Company also designs and manufactures electronic systems, cable assemblies and specialized connectors and components. All phases of the production process are housed in the facility including: receiving, inspection, inventory management, warehousing=quality, production, testing and shipping. PEI currently_produces and ships over 5 million (Rev 8/11/03)