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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601-1830 <br />PHONE 574/235-9371 <br />FAx 574/235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY SL ECONOMIC DEVELOPMENT <br />SHARON T. KENDALL <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: SHARON TERRELL~ <br />SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />HURON PARTNERS, L.P. <br />DATE: July 17, 2006 <br />On July 13, 2006, a petition for real property tax abatement consideration for property known as the <br />"Huron" located in the Portage Prairie Project, was filed with the City Clerk by Huron Partners. <br />Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal Code of the City of South Bend, this <br />petition was referred to the Department of Community and Economic Development for purposes of <br />investigation and preparation of a report determining whether the area qualifies as an Economic <br />Revitalization Area pursuant to I.C.6-l .1-12.1 and whether all zoning requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition (a copy of <br />which is attached), investigated the area, and makes the following report. <br />PROJECT SUMMARY <br />Huron Partners will be constructing a $5,000,000 development known as the "Huron." It is a <br />specive, 150,000 square-foot, light-industrial building that will house multiple tenants <br />performing a variety of business functions, such as a medical supply company, data storage facility, <br />or printing company. The building will be constructed using pre-cast concrete panels. The building <br />will be the first improvement of the Portage Prairie project, which expects to produce over $350 <br />million in private investment. It is extremely important that the first building be successful, as it will <br />provide momentum for the Portage Prairie project, which has an expected build out of 12 to 15 years. <br />Total taxes abated during the (9) nine-year period is $847,679. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235-9660 574/235-9371 ELIZABETH LEONARD <br />FAX: 574/235-9697 5741235-9371 <br />