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1200 CouNTY -CiTV BUtLDrNc <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601 -1830 <br />PHONE 574/235 -9371 <br />FAx 574/235 -9021 <br />CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR <br />COMMUNITY & ECONOMIC DEVELOPMENT <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND REDEVELOPMENT COMMISSION <br />FROM: KATHY HAHN <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />R2 DIAGNOSTICS, INC. <br />DATE: April 17, 2012 <br />On April 16, 2012, a petition for personal property tax abatement consideration for property located at <br />1801 Commerce Drive was filed with the City Clerk by R2 Diagnostics, Inc. Pursuant to Chapter 2, <br />Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was referred to the <br />Department of Community and Economic Development for purposes of investigation and preparation of a <br />report determining whether the area qualifies as an Economic Revitalization Area pursuant to <br />I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition, investigated the <br />area, and makes the following report. <br />PROJECT SUMMARY <br />R2 Diagnostics, Inc. (R2 D) manufactures and sells clot based diagnostic kits that test for bleeding and <br />clotting disorders. R213 uses proteins from Enzyme Research Laboratories (ERL) to insure the highest <br />quality final products with no lot -to -lot variation. ERL is the primary supplier of coagulation and <br />fibrinolytic proteins for the research community. The Company's products are distributed worldwide to <br />researchers and pharmaceutical companies to aid in the development of novel therapeutic compounds and <br />assays to diagnose and treat coagulation/hemostatis disorders. R21) intends to purchase equipment in the <br />amount of $459,500 to complement current equipment in order to support client demands and higher <br />volume. <br />Two of the tax key numbers are in Portage Township and two of the tax key numbers are in German <br />Township. Using tax rates for Portage Township results in $18,317 of tax being abated and using tax rates <br />COMMUNITY DEVELOPMENT ECONOMIC DF.VEI.OPMENT <br />PAMELA. C. ME.YEA DONALD E. INKS <br />574/235 -9660 574/235 -9371 <br />FAx: 574/235 -9469 <br />