18-42 Modifying and Reconfirming Resolution for Historic JMS Building

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STATEMENT OF BENEFITS REAL ESTATE IMPROVEMENTS 20_PAY 20_ State Form 51767(R4 12-13) FORM SB-1 I Real Property Prescribed by the Department of Local Government Finance PRIVACY NOTICE This statement is being completed for real property that qualifies under the following Indiana Code(check one box) The cost and any specific individual's ❑ Redevelopment or rehabilitation of real estate improvements(IC 6-1.1-12.1-4) salary information is confidential;the El Residentially distressed area(IC 6-1.1-12.1-4.1) balance of the filing is public record per IC 6-1.1-12.1-5 1(c)and(d). 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 or rehabilitation of real property for which the person wishes to claim a deduction. 'Projects"planned or committed to after July 1. 1987.and areas designated after July 1, 1987,require a STATEMENT OF BENEFITS. (1C 6-1.1-12.1) 2 Approval of the designating body(City Council Town Board, County Council,etc.)must be obtained prior to initiation of the redevelopment or rehabilitatton.BEFORE a deduction may be approved. 3. To obtain a deduction,a Form 3221RE must be filed with the County Auditor before May 101n the year in which the addition to assessed valuation is made or not later than thirty(30)days after the assessment notice is mailed to the property owner if it was mailed after April 10. If the property owner misses the May 10 deadline in the initial year of occupation,he can apply between March 1 and May 10 of a subsequent year 4. Property owners whose Statement of Benefits was approved after June 30, 1991 must attach a Form CF-1 1Real Property annually to the application to show compliance with the Statement of Benefits. (IC 6-1.1-12.1-5.1(b)and IC 6-1.1-12.1-5.30)). 5. The schedules established under IC 6-1.1-12.1-4(d)for rehabilitated property apply to any economic revitalization areas designated after June 30,2000, unless an alternative deduction schedule is adopted by the designating body(1C 6-1.1-12.1-17). The schedules effective prior to July 1.2000,shall continue to apply to economic revitalization areas designated before July 1.2000, orly, • • Name of taxpayer Historic JMS Building LLC Address of taxpayer(number and street city,state.and ZIPcode) 112 West Jefferson Blvd.,Suite 200,South Bend,IN 46601 Name of contact person Telephone number E-mail address Bradley Toothaker 574 251-4400 ( 1 bloothaker @greatlakescapital.com Name of designating body r l' n nurp South Bend Common Council Resolu ��—� Location of property County DLGF taxing district number 106-110 North Main Street,South Bend,St Joseph County,IN Descnption of real property improvements,redevelopment,or rehabilitation ruse additional sheets if necessary) Estimated start sate(month.day.year) July 1.2015 Renovation of historic office structure built in 1909.Improvements will result in repositioning of the property into high end market rate apartments and gr Estimated completion dale(month.day,year) March 1,2016 ' • =Number t • •••• t -• Current number Salaries ned Salaries Number additional Salaries 0 6 average of S 10 00/hr • • 1 • ••• t •'• log, I REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE Current values 2,400,000 Plus estimated values of proposed project _ 7,600,000 Less values of any property being replaced Net estimated values upon completion of prti act 10,000,000 Estimated solid waste converted(pounds) Estimated hazafde"&ww-4e-c&werted{pou Other benefits 4 '015 JOK SIX CITY CLERK,SOUTH i3END,IN I hereby certify that the re resentati ns in this statement are true. Signature of autho re n tip rue Date signed(month,day,year) Page 1 of 2