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227 W. JEFFERSON BOULEVARD <br />SUITE 1400 S. <br />SOUTH BEND, IN 46601 -1830 <br />February 22, 2017 <br />CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR <br />COMMUNITY INVESTMENT <br />Council Member Gavin Ferlic, Chairperson <br />Community Investment Committee <br />South Bend Common Council <br />4th Floor, County City Building <br />South Bend, IN 46601 <br />PHONE: 574/235 -9371 <br />FAx: 574/235 -9021 <br />Filed in Clerk's Office <br />FEB 2 2 2017 <br />KAREEMAH FOWLER <br />CITY CLERK, SOUTH BEND, IN <br />RE: Real Property Tax Abatement Petition for: Hibberd Development, LLC <br />Dear Council Member Ferlic: <br />Please find the attached information pertaining to a real property tax abatement petition <br />for Hibberd Development, LLC: <br />➢ Department of Community Investment's summary report <br />➢ Copy of the petition <br />➢ Statement of Benefits form <br />➢ Supporting information. <br />The report contains the Department's findings relative to the above petition. The total <br />cost for the project is estimated at $5,250,000. The project meets the qualifications for a <br />(6) six year real property tax abatement. As discussed with Council, DCI's ability to <br />flexibly approach projects has led staff to conclude that a 5 (five) year abatement best <br />meets the needs of both the developer and the City. A representative from Hibberd <br />Development, LLC will be available to meet with the Committee on Monday, February <br />27, 2017. <br />Should you or any of the other Council members have any questions concerning the <br />report, or need additional information, please feel free to call me at 235 -5823. <br />Sincerely, <br />Aaron Kobb <br />Director of Economic Resources <br />PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES <br />TIM CORCORAN PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB <br />