HomeMy WebLinkAboutBill No. 23-59 Resolution Confirming (5 YR) Personal Property Tax Abatement Petition for Imagineering Enterprises, Inc.September 20, 2023
CITY OF SOUTH
COMMUNITY INVESTME
Council Member Rachel Tomas Morgan
Chairperson, Community Investment Committee
South Bend Common Council
County-City Building, 4th Floor
South Bend, Indiana 46601
RE: Confirming Resolution: Personal Property Tax Abatement Petition for lmagineering
Enterprises, Inc
Dear Council Member Tomas Morgan:
Please find the enclosed information pertaining to a personal property tax abatement petition
submitted by lmagineering Enterprises, Inc, an Indiana sub-chapter S Corporation. The
abatement would apply to new equipment to be installed at 1302 West Sample Street in South
Bend. This petition package includes:
•Department of Community Investment's summary report
•Petition for abatement
•Statement of Benefits form (SB-1 / PP)
•Supporting information
The report contains the Department's findings relative to the above-mentioned petition. The
petitioner plans to purchase and install a new electroless nickel line at a cost of $2,631,500. The
investment will increase revenues by 25 to 30 percent and enable lmagineering to hire 10 new
full-time employees.
The project meets the requirements established by Sections 2-79 et seq. and would qualify for a
five-year (5) personal property tax abatement. A representative from lmagineering Enterprises,
Inc will be available to meet with the Committee on Monday, September 25, 2023.
If you or any of the other Council members have questions concerning the report or need
additional information, please contact me at (574) 235-5836.
Sincerely,
Mark Bemenderfer
Manager Business Development, Community Investment
EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT
1400S County-City Building 227 W. Jefferson Blvd. South Bend, Indiana 46601 p 574.235.9371 www.southbendin.gov
BILL NO. 23-59