17-76 Tax Abatement for River Park Corp

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r r Filed in Clerk's Office o4spUTH$ d .� NOV 2 12017 a EACH' .� KAREEMAH FUWLER x x CITY CLERK:SOUTH BEAD, IN ]865 CITY OF SOUTH BEND COMMUNITY INVESTMENT November 21,2017 Council Member Gavin Ferlic,Chairperson Community Investment Committee South Bend Common Council 4th Floor,County City Building South Bend,IN 46601 RE: Real Property Tax Abatement Petition for:River Park Leasing Corp. Dear Council Member Ferlic: Please find the attached information pertaining to a real property tax abatement petition for River Park Leasing Corp. River Park Leasing Corporation,owned by a South Bend native and entrepreneur,is proposing the development and construction of the first new downtown office structure in decades. While exciting for that reason alone,the project is even more desirable as it will be comprised of Class A office and retail space,with premier fit and finishes offering companies and tenants the highest quality of office space.The proposed building will sit on Jefferson&Main downtown, and will be inclusive of high-end ground-floor retail topped by 5 stories of prime office space. Early renderings will be shared at committee. It is also important to recognize the extended impact of job creation and retention this development will drive. The owner/developer can only list and be held accountable for the jobs that will be directly created in his top floor business/office. However,from the first floor retail to four additional floors of office space totaling 38,000 square feet of the building,there will be many more"indirect"jobs created and/or retained in South Bend as a result of this development. EXCELLENCE ( ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 14005 County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p574.235.9371 i www.southbendin.gov