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Filed in Clerk's Office <br /> 4SpUTH 8��� <br /> AUG 0 9 2017 <br /> \PEAK KAREE°,fM F0, `vA1L`..R <br /> CIT'r'CLERK,SOUT'FHEI 0, I`ve <br /> 1865 <br /> CITY OF SOUTH BEND <br /> COMMUNITY INVESTMENT <br /> August 7,2017 <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 /> RE: Submission of Resolution Approving Waiver of Noncompliance for Real Property <br /> Tax Abatement for CBK Land Development, LLC <br /> Dear Council Member Ferlic, <br /> Attached please find a proposed form of resolution approving a waiver of <br /> noncompliance, pursuant to Indiana Code 6-1.1-12.1-11.3, for CBK Land Development, <br /> LLC (the "Company"). The South Bend Common Council (the "Common Council") <br /> adopted its Confirming Resolution 4406-14 confirming the designation of a certain area in <br /> the City of South Bend, Indiana as an Economic Revitalization Area for the purposes of <br /> granting a ten(10)year tax abatement for real property in conjunction with the construction <br /> of a distribution by the Company. The St. Joseph County Assessor's Office distributed a <br /> Notice of Assessment on January 1,2016. The Company filed a Form CF-1/Real Property <br /> with the City of South Bend on or about March 11, 2016, however, the Company <br /> inadvertently did not file the Form 332/RE with the Auditor's office. The Company <br /> subsequently received a Tax Bill in April 2017 providing that the spring installment of <br /> 2016 property taxes on the Parcel was due May 10,2017.Upon receipt of the Tax Bill,the <br /> Company filed Form 322/RE with the Auditor's office on or about May 9, 2017. The <br /> Company timely remitted payment of$61,392.57 to St. Joseph County Treasurer prior to <br /> the May 10,2017 due date for Spring Taxes. The Company is requesting that the Common <br /> Council waive noncompliance with the filing deadline for the Form 322/RE. <br /> The Department of Community Investment endorses and supports this waiver as <br /> the Company has exceeded their abatement milestones.The Company exceeded the project <br /> cost stated in the original petition for tax abatement. The initial cost of the project was <br /> estimated to be $4,885,376 and the actual cost was $5,634,953, which sum is made up of <br /> a land acquisition cost of$484,663.38 and construction costs of$5,150,300. The project <br /> has met the employment representation stated in the original petition for tax abatement <br /> from when the project began operating,until the present date. <br /> EXCELLENCE I ACCOUNTABILITY INNOVATION INCLUSION I EMPOWERMENT f! <br /> 14005 County-City Building 227W.Jefferson Bvld. South Bend.Indiana 46601 p574.235.9371 www.southbendin.gov �N <br />