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I?UUGn~.~~~i-Cln LSi in~n~, <br />2P\Y. Jri ri ka w R~,~, ii:~.uti~ <br />Sucre ~ lir.~o, I~uin~n 46(,01-I N ili <br />I'rioNr ~--i/ Z35-9 i? 1 <br />1U1) 5?4/Z3>-5567 <br />Crn r~r Su~-~ri Bi.vi~ SrF,rFn-:h J. I,l°i-c:hF, M wen: <br />COMMUNITY & ECONOMIC DF.VELOPMF,NT <br />Jerra~.v v. Git~x~e5~ <br />tCxrr:ri~~i_I>~ri_~ r~nz <br />TAX ABATEMENT REPOR T <br />~hO: SOUTH BI~Nll REDEVELOPMENT COMMISSION <br />PROM: BOB MATIIIA ~~~ iI`~`~' <br />SUBJEC"h: REAL PROPER"I~Y "I~AX ABA"I~F,MEN"I' PI:~fI110N EOR: <br />FORTIS PLAS"GIGS, LLCIAIC VENTURES <br />DA"hI?: December 16, 2008 <br />On December 16, 2008, a petition for real property tax abatement consideration for property located at <br />361 ~ Voorde Drive was tiled with the City Clerk by Fortis Plastics, LLC in the name of its proposed <br />landlord, AIC Ventures. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal Codc of the City <br />oI~ South Bend, this petition was referred to the llepartrnent oC Community and Economic Development <br />for purposes of investigation and preparation of a report determining whether the area qualifies as an <br />Economic Revitalization Urea pursuant to LC.6- l .l -12.1 and whether all zoning requirements have been <br />met. <br />The Department of Conul~unity and Economic Development has reviewed the petition, investigated the <br />area, and makes the following report. <br />PROJECT SUMMARY <br />Fortis Plastics is an estrudcr oC plastic components used in a ~~~ariety of~ industrial and consumer <br />applications. The compan}' is weighing the consolidation of its existing Elkhart operations to South Bend <br />or Henderson, Kentucky. The applicant has submitted an application in the name of its proposed landlord <br />in South Bend, AIC Ventures. ~l~hc South Bend site would require rehabilitation and installation oC <br />equipment in the landlord's building. ~hhe rehabilitation includes the installation of docks, office build <br />out/remodeling. ne~~° sprinkler system installation. electrical upgrades. 1IVAC improvements and <br />reception area build out in a 92?49 square foot building located at 361 ~ Voorde Drive. "fhe total cost of <br />the rehabilitation is estimated at Sl ,?77.000. Fortis Plastics would lease the building from AIC Ventures. <br />Qtemun~i rv Di vri i>rn~i,~ i ~;CONUibllC Du~r~nrnai_~ r riNnn~<ani. & Paocio~~n <br />... >~..~t~~~~ u~~~,_,r_;., iYLwncr~~n_~~r <br />