HomeMy WebLinkAbout6A (1)6 A C) �
RESOLUTION NO. � C 3
A RESOLUTION APPROVING AN APPLICATION FOR
PERSONAL PROPERTY TAX DEDUCTION
WHEREAS, I.C. 6- 1.1- 12.1 -2(I) provides that an application for property tax deduction may
not be approved when the property is located in an allocation area as defined in I.C. 36- 7- 14 -39,
unless the Redevelopment Commission which designated that allocation area adopts a resolution
approving that application; and
WHEREAS, the South Bend Common Council has received a petition for (5) five years of personal
property tax abatement consideration from R2 Diagnostics, Inc., for personal property located at
1801 Commerce Drive in the Airport Economic Development Area, the legal description of which is
attached hereto, marked Exhibit "A" and incorporated herein; and
WHEREAS, this Commission declared the Airport Economic Development Area by
Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport
Economic Development Allocation Area, Allocation Area No. 1; and
WHEREAS, the property located at 1801 Commerce Drive is located within the Airport Economic
Development Allocation Area, Allocation Area No. 1.
NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission
as follows:
1) The Commission finds that the application from R2 Diagnostics, Inc. for (5) five years of
personal property tax abatement consideration for property located at 1801 Commerce Drive in the
Airport Economic Development Allocation Area, Allocation Area No. 1, should be and is hereby
approved.
2) That a copy of this resolution be forwarded to the South Bend Common Council to
indicate the Commission's approval of the petition for personal property tax abatement for R2
Diagnostics, Inc.
Approved this 24th day of April, 2012, at the regularly scheduled meeting of the South Bend
Redevelopment Commission.
SOUTH BEND REDEVELOPMENT COMMISSION
ATTEST:
EXHIBIT A
LEGAL DESCRIPTION
Description: E PT Lot 25 Airport Industrial park Phase II- Sec 33 -38 -2E Cont .40 acres+/ -
W 287 FT of Lot 25 Airport Industrial Park Phase II- S.W.1 -4 Sec 33 -38 -2E 1.57 acres
S 80 -5 FT of Lot 24 S.W. Sec 33 -38 -2E
Tax Key No.: 025- 1008 - 033502; 025- 1008 - 033508; 018 - 2183 - 688612; 018 - 2183 - 688603
Address: 1801 Commerce Drive
1200 CouNTY -CiTV BUtLDrNc
227 W. JEFFERSON BOULEVARD
SOUTH BEND, INDIANA 46601 -1830
PHONE 574/235 -9371
FAx 574/235 -9021
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
COMMUNITY & ECONOMIC DEVELOPMENT
TAX ABATEMENT REPORT
TO: SOUTH BEND REDEVELOPMENT COMMISSION
FROM: KATHY HAHN
SUBJECT: PERSONAL PROPERTY TAX ABATEMENT PETITION FOR:
R2 DIAGNOSTICS, INC.
DATE: April 17, 2012
On April 16, 2012, a petition for personal property tax abatement consideration for property located at
1801 Commerce Drive was filed with the City Clerk by R2 Diagnostics, Inc. Pursuant to Chapter 2,
Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this 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 Area 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, investigated the
area, and makes the following report.
PROJECT SUMMARY
R2 Diagnostics, Inc. (R2 D) manufactures and sells clot based diagnostic kits that test for bleeding and
clotting disorders. R213 uses proteins from Enzyme Research Laboratories (ERL) to insure the highest
quality final products with no lot -to -lot variation. ERL is the primary supplier of coagulation and
fibrinolytic proteins for the research community. The Company's products are distributed worldwide to
researchers and pharmaceutical companies to aid in the development of novel therapeutic compounds and
assays to diagnose and treat coagulation/hemostatis disorders. R21) intends to purchase equipment in the
amount of $459,500 to complement current equipment in order to support client demands and higher
volume.
Two of the tax key numbers are in Portage Township and two of the tax key numbers are in German
Township. Using tax rates for Portage Township results in $18,317 of tax being abated and using tax rates
COMMUNITY DEVELOPMENT ECONOMIC DF.VEI.OPMENT
PAMELA. C. ME.YEA DONALD E. INKS
574/235 -9660 574/235 -9371
FAx: 574/235 -9469
South Bend Redevelopment Commission
RE: Tax Abatement for R2 Diagnostics, Inc.
April 17, 2012
Page 2
for German Township results in $18,421 of tax being abated.
Total taxes to be paid using Portage Township tax rates during a (5) five -year abatement period are
estimated at $29,068. Total taxes to be paid using German Township tax rates during a (5) five -year
abatement period are estimated at $28,964.
EMPLOYMENT IMPACT
Per the petition, it is estimated that the total project will create at least two (2) new, permanent, full -time
jobs in the first year of production representing a new annual payroll of at least $65,000. The project will
maintain fifteen (15) existing, permanent, full -time jobs and one (1) part-time job with a total annual
payroll of $800,000.
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted finds that the petitioner has not been granted
any previous tax abatements. The related company, Enzyme Research Laboratories has been
associated with the following abatement:
Type Resolution Number Date
5 year personal property abatement 3555 -06 January 23, 2006
2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned
for the proposed project.
3. A review of the South Bend Redevelopment designation areas finds that the property is located in
the Airport Economic Development Area, which is a Tax Incremental Allocation Area; therefore,
the petition for personal property tax deduction must first be approved by the South Bend
Redevelopment Commission.
4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the
qualifications for a (5) five -year personal property tax abatement under section 2 -84.2, Tangible
Personal Property Tax Abatement.
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