Confirming Tax Abatement - Ancatrice, LLC. 115 S. Hill St. (7 Year Real Property)

Home Browse Search

1200 COUNTY -CITY BU1LDNG 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601 -1830 PHONE 574/235 -9371 FAx 574/235 -9021 TDD 574/ 235 -5567 CITY OF SODTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY & ECONOMIC DEVELOPMENT SHARON T. KENDALL EXECUTIVE DIRECTOR TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: TEDD SCHAFFER SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: Ancatrice, LLC (Omicron Biochemicals, Inc.) 115 South Hill Street DATE: July 18, 2005 On June 20, 2005, a petition for real property tax abatement consideration for property located at 115 South Hill Street was filed with the City Clerk by Ancatrice, LLC of South Bend. Pursuant to Chapter 2, Article 6, Section 2 -77 of the Municipal Code of the City of South Bend, the 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 Areas 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 The Omicron Biochemicals is a manufacturer of specialty stable isotopically labeled biological molecules for use in chemical, biochemical, biological, medical and clinical investigations. They have purchased the building at 115 S. Hill St. and plan to re -roof, install new windows, recondition the exterior surface, seal exterior door openings and replace with new doors; remodel bathrooms, build new research laboratories and remodel the front office. The cost of the project will be $200,000. COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT 574/235 -9660 5741235 -9371 ELDHAEETH LEONARD FAx: 5741235 -9697 574/235 -9371