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17-76 Tax Abatement for River Park Corp.
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17-76 Tax Abatement for River Park Corp.
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11/21/2017 1:35:59 PM
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11/21/2017 1:35:53 PM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
11/27/2017
Bill Number
17-76
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3 i:•_r-+a_a_.,�ae�aLarvrraavea..rvra_rva.. <br /> FORM SBA SBA I Real Property <br /> =y --.! State Form 51767(R6 110-14) <br /> - Prescribed by the Department of Local Government Finance <br /> PRIVACY NOTICE <br /> This statement is being completed for real property that qualifies under the following Indiana Code(check one box): Any information concerning the cost <br /> Redevelopment or rehabilitation of real estate improvements IC 6-1.1-12.1-4 of the property and specific salaries <br /> p p ( ) paid to individual employees by the <br /> ❑Residentially distressed area(IC 6-1.1-12.1-4.1) property owner is confidential per <br /> C 6-1.1-12.1-5.1 <br /> INSTRUCTIONS: <br /> 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires <br /> information from the applicant in making its decision about whether to designate an Economic Revitalization Area- Otherwise,this statement must be <br /> submitted to the designating body BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction. <br /> 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 <br /> the redevelopment or rehabilitation for which the person desires to claim a deduction. <br /> 3. To obtain a deduction,a Form 3221REmustbe filed with the County Auditor before May 10 in the yearin which the addition to assessed valuation is <br /> made or not later than thirty(30)days after the assessment notice is mailed to the property owner ifit was mailed afterApril 10. A property owner who <br /> failed to file a deduction application within the prescribed deadline may No an application between March 1 and May 10 of a subsequentyear. <br /> 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 <br /> 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. <br /> IC 6-1.1-12.1-5.1(b) <br /> 5. For a Form SB-1 1Real Property that is approved after June 30, 2013, the designating body is required to establish an abatement schedule for each <br /> 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 <br /> remains in effect. IC 6-1.1-12.1-17 <br /> SECTION TAXPAYER INFORMATION <br /> Name of taxpayer <br /> River Park Leasing Corporation <br /> Address of taxpayer(number and street,city,state,and ZIP code) <br /> c/o Randall Hesser; 121 West Franklin, Suite 400; Elkhart, Indiana 46516 <br /> Name of contact person Telephone number E-mail address <br /> Randall Hesser 1( 574) 294-7491 <br /> SECTION 2 LOCATION AND D . PROJECT <br /> Name of designating body Resolution number <br /> Common Council of City of South Bend <br /> Location of property County DLGF taxing district number <br /> SW Corner of Main St. and Jefferson Blvd., South B I St. Joseph 71-011 <br /> Description of real property improvements,redevelopment,or rehabilitation(use additional sheets ifnecessary) Estimated start date(month,day,year) <br /> Proposed investment of at least$9,000,000 to the development and construction of a new office building(with first March 2018 <br /> floor retail)at the SW comer of Main Street and Jefferson Blvd.,in South Bend,Indiana. <br /> Estimated completion date(month,day,year) <br /> July 2019 <br /> SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT <br /> Current number Salaries Number retained Salaries Number additional Salaries <br /> 15 750000 <br /> • r . . •-. <br /> REAL ESTATE IMPROVEMENTS <br /> COST ASSESSED VALUE <br /> Current values <br /> Plus estimated values of proposed project Q <br /> Less values of any property being replaced <br /> Net estimated values upon completion of project 90000M , <br /> -SECTIOW5 WASTE CONVERTED AND OPROMISED BY THE TAXPAYER <br /> Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) <br /> l'99181jsestimates that the project will result in the creation of at least 15 new full time jobs having an annual payroll of$750,000 within <br /> three years of building completion. These jobs are in addition to the creation of employment by tenants within the first floor retail and <br /> office tenants on floors 2-4 of the building. <br /> • CERTIFICATION <br /> 1 hereby certify that the representations in this statement are true. <br /> Signature of autho' ed representative Date signed(month,day,year) <br /> Nov. t0 , 2017 <br /> Printed name of authorized representative Title <br /> �'Of.►nrt� Ck-cJ�9 �-�+9�JSr// �60. <br />
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