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1200 ~'.oiJN'IY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 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 ~ 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 />ROYAL HOLDINGS, INC. d.b.a. ROYAL ADHESIVES <br />DATE: February 4, 2009 <br />On February 2, 2009, a petition for real property tax abatement consideration for property located at <br />2001 West Washington Street was filed with the City Clerk by Royal Holdings. Inc. d.b.a. Royal <br />Adhesives. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal Code of the City of <br />South Bend, this petition was referred to the Department of Community and Economic Development <br />for 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 <br />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 />Royal Adhesives is a maker of specialty adhesives for use in industrial and commercial settings. The <br />Petitioner is proposing to: (a) demolish an old O'Brian Paint building and replace it with an 8,294 <br />square foot factory building; (b) equip the new building for a state of the art specialty adhesive <br />mixing operation; and (c) add a 22,525 square foot warehouse to support the operation. The total cost <br />of the construction portion of the project is estimated at $1,127,543. <br />The equipment to be purchased includes mixers, raw material storage tanks, various pilot mixers for <br />development work and testing equipment associated with the production and testing of specialty <br />adhesives. Some equipment may be used, however, all used equipment would be acquired from <br />outside the State of Indiana. A personal property tax abatement application is being submitted as <br />part of the total project. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574!235-9660 574/235-9371 ELIZABETH LEONARD <br />FAx: 574/235-9697 574/235-9371 <br />