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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601-1H3O <br />PxoNE574/235-9371 <br />Fax 574/235-9021 <br />TDD 5741235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY ~L ECONOMIC DEVELOPMENT <br />JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: BOB MATHIA <br />SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />AIC VENTURES/FORTIS PLASTICS, LLC <br />DATE: December 18, 2008 <br />On December 16, 2008, a petition for real properly tax abatement consideration for property located <br />at 3615 Voorde Drive was filed with the City Clerk by Fortis Plastics, LLC in the name of its <br />proposed landlord, AIC Ventures. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal <br />Code of the City of South Bend, this petition was referred to the Department of Community and <br />Economic Development for purposes of investigation and preparation of a report determining <br />whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and <br />whether all zoning requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition, investigated <br />the area, and makes the following report. <br />PROJECT SUMMARY <br />AIC Ventures/Fortis Plastics, LLC are proposing to renovate and equip an approximate 92,250 <br />square foot building for the manufacture of plastic components used in a variety of industrial and <br />consumer applications. The building has been vacant over one year. AIC Ventures owns the <br />building and Fortis Plastics would lease it from that organization for their manufacturing operation. <br />Fortis Plastics uses both injection molding and extrusion production systems to produce its plastic <br />products. The company is weighing the consolidation of its existing Elkhart operations to South <br />Bend or to Henderson, Kentucky. The South Bend site requires renovation of the building and <br />installation of equipment. The renovation includes the installation of docks, office build <br />outlremodeling, new sprinkler system installation, electrical upgrades, HVAC improvements and <br />reception area build out. The total cost of the renovation is estimated at $1,277,000. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235-9660 574/235-9371 EL[zaseTH LEONARD <br />FAX: 574/235-9697 574!235-9371 <br />