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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, 1NDL4NA 46601-1830 <br />PHONE 574/235-9371 <br />FAx 574/235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY S~ ECONOMIC DEVELOPMENT <br />SHARON T. KENDALL <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: SHARON TERRELL~ <br />SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: <br />ODYSSIAN TECHNOLOGY <br />DATE: January 8, 2007 <br />On December 11, 2006, a petition for personal propertyy tax abatement consideration for property located <br />at 511 East Colfax Avenue and 210 North Niles Avenue was filed with the City Clerk by Odyssian <br />Technology. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal Code of the City of South <br />Bend, this petition was referred to the Department of Community and Economic Development for <br />purposes of investigation and preparation of a report determining whether the area qualifies as an <br />Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been <br />met. <br />The Department of Community and Economic Development has reviewed the petition (a copy of which is <br />attached), investigated the area, and makes the following report. <br />PROJECT SUMMARY <br />Odyssian Technology is a high technology company focused on technology innovation and creative <br />product development related to advanced lightweight composites, multifunctional structure, smart <br />structure, and integrated systems and is involved in developing technology products for both military and <br />consumer marketplace. <br />The project will invest $384,816 in research and development equipment (see Attachment A) due to <br />Odyssian Technology purchasing and renovating two buildings in the East Bank Development Area <br />(EBDA) located at the above-referenced address. In addition, the company is applying for a real property <br />tax abatement. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235-9660 5741235-9371 ELIZABETH LEONARD <br />FAX: 574/235-9697 574/235-9371 <br />