Confirming Tax Abatement - 4747 W. Cleveland Road - Tuliptree Associates, LLC/ PEI-Gensis, Inc.

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1200 COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PHONE 574(235-9371 FAX 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY ~ ECONOMIC DEVELOPMENT SHARON T. KENDALL EXECUTIVE DIRECTOR TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: SHARON TERRELL~~. SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: Tuliptree Associates, LLClPEI-Genesis, Inc. DATE: June 19, 2006 On June 8, 2006, a petition for real property tax abatement consideration for property located at 4747 West Cleveland Road was filed with the City Clerk by Tuliptree Associates, LLC/PEI-Genesis, Inc. Pursuant to Chapter 2, Article 6, Section 2-77 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 (a copy of which is attached), investigated the area and makes the following report. PROJECT SUMMARY Tuliptree Associates, LLC/PEI-Genesis, Inc., 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. The addition will allow PEI-Genesis to consolidate its North American manufacturing opera- tions. The estimated cost of the addition is $7,250,000. As a result of the expansion, the company will increase its full-time workforce by (12) twelve people. COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT 574/235-9660 574/235-9371 ELiuserx LEONARD FAX: 574/235-9697 574/235-9371.