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ri <br /> 61317i'94' MAY 0 6 2020 <br /> C <br /> w .-a <br /> x'.{y PE CE <br /> �,,... <br /> 1865 <br /> CITY OF SOUTH BEND <br /> COMMUNITY I NVESTM ENT <br /> May 6,2020 <br /> Council Member Jake Teshka, Chairperson <br /> Community Investment Committee <br /> South Bend Common Council <br /> 4th Floor,County City Building <br /> South Bend, IN 46601 <br /> RE: Vacant, Real & Personal Property Tax Abatement Petition for: WSJM-INC aka Midwest Family <br /> Broadcasting <br /> Dear Council Member Teshka: <br /> Please find the attached information pertaining to a vacant, real and personal property tax abatement <br /> petitions submitted by WSJM-INC to purchase a vacant building located at 316 E Monroe Street, South <br /> Bend, IN 46601 and also to purchase new telecommunication and network equipment for broadcasting. <br /> The company is planning to move their regional HQ and four radio stations (WSBT, WNSN, WZOC and <br /> WQLQ) there and build four studios, and administrative offices for about twenty-three employees. This <br /> petition package includes: <br /> > Department of Community Investment's summary report <br /> > Petition <br /> ' Statement of Benefits forms(Vacant Building, Real and Personal properties) <br /> > Supporting information <br /> The report contains the Department's findings relative to the above petition. The petitioner proposes to <br /> purchase the vacant building for $235,000, invest in its renovation approximately $2,500,000 and <br /> purchase new equipment with estimated cost of $800,000. A total project cost is approximately <br /> $3,535,000. A representative from WSJM-INC will be available to meet with the Committee on Monday, <br /> May 11, 2020. <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 /> Sincerely, <br /> Daniel J. Buckenmeyer <br /> Director, Business Development <br /> DANIEL J.BUCKEN\[EVER ALKEYNA ALDRIDGE: PAMELA MEYER TIMI CORCORAN <br /> BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DEVELOPMENT PLANNING&CONI\fUNTTY RESOURCES <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />