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1200 CouNTY -CITY BUILDING <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 COMMON COUNCIL <br />FROM: KATHY HAHN <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />R 2 DIAGNOSTICS, INC. <br />DATE: April 17, 2012 <br />On April 16, 2012, a petition for personal property tax abatement consideration for property located <br />at 1801 Commerce Drive was filed with the City Clerk by R 2 Diagnostics, Inc. Pursuant to Chapter <br />2, Article 6, Section 2 -82 of the Municipal Code of the City of South Bend, this petition was referred <br />to the Department of Community and Economic Development for purposes of investigation and <br />preparation of a report determining whether the area qualifies as an Economic Revitalization Area <br />pursuant to 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 <br />the 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 <br />and clotting disorders. R2D uses proteins from Enzyme Research Laboratories (ERL) to insure the <br />highest quality final products with no lot -to -lot variation. ERL is the primary supplier of coagulation <br />and fibrinolytic proteins for the research community. The Company's products are distributed <br />worldwide to researchers and pharmaceutical companies to aid in the development of novel <br />therapeutic compounds and assays to diagnose and treat coagulation/hemostatis disorders. R21) <br />intends to purchase equipment in the amount of $459,500 to complement current equipment in order <br />to support client demands and higher 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 <br />COMMUNITY DEVELOPMENT ECONOMiC DEVELOPMENT <br />PAMELA C. MEYER DONALD E. INKS <br />574/235 -9660 574/235 -9371 <br />FAx: 574/235 -9469 <br />