17-10 Confirming a nine (9) year real property tax abatement for GLC III

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DocuSign Envelope ID: 93FFE9DB- 24EC- 4A8E- 8F37- 772DF2DOBEC2 40 STATEMENT OF BENEFITS REAL ESTATE IMPROVEMENTS State Form 51767 (R6I 10 -14) Prescribed by the Department of Local Government Filed in Clerk's Office 20 PAY 20 FEB 2 2 2017 FORM SB -1 I Real Property ance PRIVACY NOTICE This statement is being completed for real property thatqualifies under 11, he folio ® box): Any information concerning the cost ❑ Redevelopment or rehabilitation of real estate improvements (IC 6- 1- 4 of the property and specific salaries ❑ Residentially distressed area (IC 6- 1.1- 12.1 -4.1) dW 61 -ERK, SOUTH BEND, IN paid to individual pro oner confide bntial p e er IC 6 -1.1- 12.1 -5.1. INSTRUCTIONS: 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise, this statement must be submitted to the designating body BEFORE the redevelopment orrehabilitation of real property for which the person wishes to claim a deduction. 2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the initiation of the redevelopment or rehabilitation for which the person desires to claim a deduction. 3. To obtain a deduction, a Form 3221RE must be filed with the County Auditor before May 10 in the year in which the addition to assessed valuation is made or not later than thlity (30) days after the assessment notice is mailed to the property owner if it was mailed afterAprii 10. A property owner who failed to file a deduction application within the prescribed deadline may file an application between March 1 and May 10 of a subsequent year. 4. A property owner who files for the deduction must provide the County Auditor and designating body with a Form CF -1 /Real Property. The Form CF -1 /Real Property should be attached to the Form 3221RE when the deduction is first claimed and then updated annually for each year the deduction is applicable. IC 6- 1.1- 12.1- 5.1(b) 5. For a Form SB -i /Real Property that is approved after June 30, 2013, the designating body is required to establish an abatement schedule for each deduction allowed. For a Form SB -1 /Real Property that is approved prior to July 1, 2013, the abatement schedule approved by the designating body remains in effect. lC 6 -1.1- 12.1 -17 SECTION •. • Name of taxpayer GLC PORTAGE PRARIE III, LLC Address of taxpayer (number and street, city, state, and ZIP code) 112 W Jefferson Suite 200 South Bend IN 46601 Name of contact person Telephone number E-mail address Jeff Smoke ( ) 574- 251 -4400 'smoke @greatlakescapital.com SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of eeldna ng ody Resolution number Common Council of City of South Bend Location of property County DLGF taxing district number NE Corner of Adams Rd. and US 31 St. Joseph 71 -003 Description of real property improvements, redevelopment, or rehabilitation (use additional sheets ifnecessary) Estimated start date (month, day, year) Feb 15, 2017 Proposed investment of at least $13,250,000 in the development and construction of a commerical Estimated completion date (month, day, year] "spec" facility containing approximately 315,000 square feet (or more) December 1, 2017 SECTION 33 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Selarles Number retained Salaries Number additional Salaries 300 $11 -35+ 300 $11 -35+ 100 $11 -35+ SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE Current values Plus estimated values of proposed project 114,250,000 Less values of any property being replaced Net estimated values upon com letlon of ro act 14 250 000 SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds) I Other benefits I I hereby certify that the representations in this statement are true. zed representative Date signed (month, day, year) ny.,e A,es 112/13/16 naatetjAtpj sized representative Title Ryan C. Rans Managing Member of Manager Page 1 oft I