Confirming Tax Abatement - Portage Prairie Development - Huron Partners, L.P

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CITY OF SOUTH BEND PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for real property tax abatement consideration and pursuant to I.C.. 6-1.1-12.1-1, et seQ.• and South Bend Municipal Code Sec. 2-76 et sep., for this petition states the following: 1. Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the proposed use of the improvements, and a general statement as to the importance of the project to your business: The proposed redevelopment, known as the "Huron", is a speculative light industrial building that will house multiple tenants that perform a wide variety of business functions. The building will be constructed using pre-cast concrete panels. This building will be the first improvement of the Portage Prairie project which expects to produce over 350 million dollars in private investment. It is extremely important that this first building is successful as it will provide momentum for the Portage Prairie project which has an expected build out of 12- 15years. Land Size 13.238 acres; Building Size 148,000 sq.ft. 2. Describe the overall nature of the business and of the operations occurring at the Property (attach additional sheet if more space is needed): Due to the fact that this building is being built on a speculative basis we can only estimate what type of businesses will locate in this building. We are assuming that there will be a broad mix of businesses including, but not limited to, medical supply companies, data storage facilities, food distribution facilities, printing companies, etc. 3. Estimate the dollar value of the project (excluding land): $ 5,000,000 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement: $_794,280 or (Rev 8/11/03)