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Filed in Clerk's Office <br /> �\ <br /> OR <br /> liir/ tl <br /> �p.E huE $ SEP 0 5 2018 <br /> N � a F• <br /> i AFREIfMTXH FOW E <br /> CITY OF SOUTHBENff=LE–����j' —N COMMUNITY INVESTMENT <br /> JAMES MUELLER, EXECUTIVE DIRECTOR <br /> September 5, 2018 <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: Real Property Tax Abatement Extensions for: Historic JMS Building LLC,JSK <br /> Development Inc.,RDistrict One LLC,Imagineering Enterprises Inc.,Tower at <br /> Washington Square LLC. <br /> Dear Council Member Ferlic: <br /> i <br /> As part of our annual review process, we have found the need for several extensions to the <br /> designation period for previously approved tax abatements. These extensions would not alter the <br /> length of the abatement itself, however. It has been a general practice, when granting a tax <br /> abatement, to allow a two-year designation period for the project to get underway, be completed, <br /> and receive its higher reassessed value. The clock on the designation period starts when the <br /> abatement is granted by Council. Sometimes a project takes a bit longer to get underway and/or <br /> be completed, and sometimes the Assessor's office does not issue the reassessed value (and <br /> accompanying Form 11)within the two-year timeframe. For these situations (detailed below) the <br /> petitioners are asking Council to grant extensions of the designation period on the following tax <br /> abatements. <br /> Attached please find proposed forms of resolutions modifying and reconfirming the adoptions of <br /> declaratory resolutions for Historic JMS Building LLC,.JSK Development Inc.,RDistrict One <br /> LLC, Imagineering Enterprises Inc., Tower at Washington Square LLC which combined <br /> were granted a total of eleven real property tax abatements. <br /> DANIELJ.BUCKENMEYER ALKEYNAALDRIDGE PAMEIA MEYER Tim CoRcoRAN <br /> Busni ms DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DEVELOPMENT PLANNwG&CoNomjNm REsoURGEs <br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT <br /> 1400S County-City Building 1 227 W.Jefferson Blvd.I South Bend,Indiana 466011 p574.235.9371 I wvvw.southbendin.gov <br />