Confirming Tax Abatement - 1801 Commerce Dr. Michael J. Morris (8 Year Real Property)

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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 seq., and South Bend Municipal Code Sec. 2 -76 et seq.• for this petition states the following: 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 yourbuslness: This project encompasses the expansion and relocation of two biotechnology companies, Enzyme Research Laboratories, Inc. (ERL) has been located in the South Bend area for 24 years. It is an ISO 9001 -2000 registered company. R2Diagnostics (R2D) has been in the South Bend area for 8 years and is an ISO 13485 registered company. Presently the companies are housed in a 9,000 sq. ft. building located at 412 S. Lafayette Blvd. This petition is for the purchase and rehabilitation of the 25,000 sq. ft. building located at 1801 Commerce Drive. This building is located in the Economic Development Area of the Airport Corridor and will require significant renovation to meet the needs of these companies. This expansion will result in the increased production capacity of the purified protein product line manufactured by ERL and an increase of product offerings by R2D. The purchase of this building will include the acquisition of manufacturing machinery and equipment, along with the hiring of additional laboratory technical specialists to increase production. These two separate and unique are owned and operated by Michael Morris of South Bend. The companies are housed in the same facility to take advantage of the overlapping technologies and knowledge within each lab specialist. There will be minimal sharing of employees but the expertise in the purification and handling of proteins will be readily available to both companies. Land Size 2.64 acres; Building Size 25.423 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): ERL is a primary supplier of coagulation and fibrinolytic proteins for the research community. Since inception in 1982, ERL has become the world leader for quality and value within the industry. The Company's products are distributed worldwide to researchers and pharmaceutical companies to aid in the development of novel therapeutic compounds and assays to diagnose and treat coagulation /hemostasis disorders. R21) manufactures and sells clot based diagnostic kits that test for bleeding and clotting disorders. R2D uses the proteins produced by ERL to insure the highest quality final products with no lot -to -lot variation. These two points are critical to testing labs such as the South Bend Medical Foundation who rely on our quality for patient care. 3. Estimate the dollar value of the project (excluding land): $ 1,666.000 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: $ 666.000 (Rev 8/11/03)