Bill No. 23-59 Resolution Confirming (5 YR) Personal Property Tax Abatement Petition for Imagineering Enterprises, Inc.

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September 20, 2023 CITY OF SOUTH COMMUNITY INVESTME Council Member Rachel Tomas Morgan Chairperson, Community Investment Committee South Bend Common Council County-City Building, 4th Floor South Bend, Indiana 46601 RE: Confirming Resolution: Personal Property Tax Abatement Petition for lmagineering Enterprises, Inc Dear Council Member Tomas Morgan: Please find the enclosed information pertaining to a personal property tax abatement petition submitted by lmagineering Enterprises, Inc, an Indiana sub-chapter S Corporation. The abatement would apply to new equipment to be installed at 1302 West Sample Street in South Bend. This petition package includes: •Department of Community Investment's summary report •Petition for abatement •Statement of Benefits form (SB-1 / PP) •Supporting information The report contains the Department's findings relative to the above-mentioned petition. The petitioner plans to purchase and install a new electroless nickel line at a cost of $2,631,500. The investment will increase revenues by 25 to 30 percent and enable lmagineering to hire 10 new full-time employees. The project meets the requirements established by Sections 2-79 et seq. and would qualify for a five-year (5) personal property tax abatement. A representative from lmagineering Enterprises, Inc will be available to meet with the Committee on Monday, September 25, 2023. If you or any of the other Council members have questions concerning the report or need additional information, please contact me at (574) 235-5836. Sincerely, Mark Bemenderfer Manager Business Development, Community Investment EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 1400S County-City Building 227 W. Jefferson Blvd. South Bend, Indiana 46601 p 574.235.9371 www.southbendin.gov BILL NO. 23-59