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CITY OF SOUTH BEND j COMMUNITY INVESTMENT <br /> Ima ing_ Bering Entezprises: <br /> The company was granted personal and real property tax abatements and proactively requested a <br /> designation period extension due to a significant increase in its strategic investments. The <br /> designation period will expire on September 26,2018. <br /> Tower at Washington Glotel and Parking Garage): <br /> Two projects were completed in September 2017. The company has invested $38.5 million and <br /> created 45 new j obs.The company received a form 11 from the St. Joseph County Assessor Office <br /> in July 2018 but is still waiting for a full assessment of these properties. The designation period <br /> will expire on September 29,2018. <br /> Tower at Washington(Retail and Apartments): <br /> Two projects have not been completed yet due to the size and nature of the project. The company <br /> is investing $15 million into the ongoing project. The company requested an extension of the <br /> designation period for these project elements.The designation period will expire on September 29, <br /> 2018 for the Retail elements and on October 26, 2018 for the Apartments. <br /> The Department of Community Investment supports these requests for extension of the designation <br /> period. These companies have met or exceeded their other abatement milestones and <br /> commitments, generating visible growth and community impact. i <br /> Should you or any of the other Council members have any questions concerning the report,or need <br /> additional information,please feel free to call me at 235-5823. <br /> Since 1 , I <br /> I <br /> Daniel J. uckenmeyer <br /> Director of Business Development <br /> i <br /> I <br /> 3 <br /> f <br /> Page 3 <br />