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i$OUTH 44, <br />U d <br />W <br />PE CE (: <br />a <br />x •iw x <br />1865 <br />CITY OF SOUTH BEND <br />COMM UN ITY 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.BUCKE.NSIEYFR ALKEYNA.ALDRIDGE. PA..MEL\MEYER Tn1 CORCORA.N <br />BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEICIIBORHOOU DEVELOPMENT PLANNING&COMMUNITY RESOURCES <br />EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br />14005 County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />BILL NO. 20-08, (2ND <br />COUNCIL DISTRICT, <br />COUNCILMEMBER HENRY <br />DAVIS JR.)