Confirming Tax Abatement - 4747 W. Cleveland Road - PEI-Gensis, Inc.

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proposed project would be classified, by number and description: 334000 Computer and Electronic Product Manufacturer 22. The real property where the Equipment will be installed is located in the following Allocation Area, if any, declared and confirmed by the South Bend Redevelopment Commission: Airport Economic Development Area 23. Other anticipated public financing for the project including, if any, industrial revenue-bonding to be sought or already authorized, assistance through the United States Department of Housing and Urban Development funds from the City of South Bend, Small Business Association Sections 503 and 504 financing through the Business Development Corporation of South Bend, Mishawaka, and St. Joseph County, Indiana; or other public financial assistance, including but not limited to public works improvements. Based on recent tax law changes, it is likely that Tuliptree and PEI will be seekin~to finance a portion of the project using Industrial Development Bonds. The City of South Bend and the Indiana Economic Development Corporation will be providing- up blic infrastructure including_public road infrastructure and the extension of steel conduit from the current St. Joseph Valley Metronet location to the new facility. 24. Describe how and why the manufacturing equipment to be replaced or the facility in which Equipment will be added is currently technologically, economically or energy obsolete and how and why that obsolescence may lead to a decline in employment and tax revenues: No equipment is being replaced; rather, the significant expansion of manufacturing~ capacity requires PEI to add new equipment. The new building should be "state-of--the-art" in terms of technology and energy delivery. 25. The new manufacturing equipment will be used in the direct production, manufacture, fabrication, assembly, extraction, mining, processing, refining, or finishing of other tangible personal property and that the equipment was never before used by its owner for any purpose in Indiana. The signature at the end of this Petition is verification of this statement. Consistent with conversations held with members of the City of South Bend Community & Economic Development Department, certain items of equipment are new to istical distribution equipment (approximately $1,000,000.00) and information technology equipment (approximately $200,000.00) and are being_applied for as a special exception. (Revised 8/2/02) 5