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Tx B Fi9ed in �i .r`s 8, }:� kce <br /> " d CCT 99 2017 <br /> w y <br /> PEACE � � u^�^ <br /> x x KAREEMAF7 FOWLER <br /> is65 Orr CLERK,SOUTH BEND,IN <br /> CITY OF SOUTH BEND <br /> COMMUNITY INVESTMENT <br /> October 19,2017 <br /> Mr.Tim Scott, President <br /> South Bend Common Council <br /> 4th Floor City-County Building <br /> South Bend, IN 46601 <br /> RE:Substitute resolution and Memorandum of Understanding regarding Tax Abatement for 23464 Adams Rd. (the"Property") <br /> Dear President Scott: <br /> On October 9, 2017,the Common Council adopted Resolution No.4678-17 directing the City Clerk to give notice of a public hearing <br /> on a proposed resolution(the"Proposed Resolution"),which would modify the Common Council's Resolution No.4607-17,dated <br /> January 9, 2017,declaring a 9-year tax abatement for the Property. The Proposed Resolution would replace the original 9-year tax <br /> abatement schedule with a more aggressive 6-year tax abatement schedule. <br /> Enclosed for the Council's consideration on October 23,2017,is a substitute version of the Proposed Resolution,along with an <br /> associated Memorandum of Agreement to be executed in the event the Common Council adopts the Proposed Resolution. This <br /> substitute version corrects errors in the property description and the corporate entity name of Great Lakes Capital company <br /> responsible for this project appearing in the originally filed version of the Proposed Resolution. <br /> Again,the Department of Community Investment appreciates the Council's support on this project which will bring a critically <br /> important piece of commercial real estate inventory to the City of South Bend—and subsequently bring a new business entrant and <br /> accompanying jobs, investment and eventual tax revenue. <br /> Both I and Jeff Smoke of Great Lakes Capital will attend the Community Investment Committee and Council meetings on October 23, <br /> 2017 to address any questions. <br /> Thank you, <br /> Sincerely, <br /> Daniel . Buckenmeyer <br /> Director of Business Development <br /> Department of Community Investment <br /> EXCELLENCE I ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov <br />