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Bill No. 22-22 Resolution Confirming Intersection Dylan Dr. & Adams Rd. Tax Abatement for GLC Portage Prairie V LLC
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Bill No. 22-22 Resolution Confirming Intersection Dylan Dr. & Adams Rd. Tax Abatement for GLC Portage Prairie V LLC
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10/18/2022 5:05:00 PM
Creation date
5/18/2022 2:43:31 PM
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City Council - City Clerk
City Council - Document Type
Resolutions
City Counci - Date
5/23/2022
Bill Number
22-22
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i <br /> filed in Clerk's Office <br /> � <br /> City of South Bend PSAY 1 R 2022 rI�,oF w� <br /> Petition for Incentives„ DAwN M 16&;Es <br /> CLERK, SOU 5' <br /> Petition must include a$150 filing fee payable to the City Clerk's Office or onrne-1�1a'C/refity'�wel te.�H BED, I <br /> http://Southbendin.govlgovernment/content/tax-abatement before processing can be complete <br /> General Information Project Name GLC Portage Prairie V Project Number <br /> Legal name as registered with Secretary of GLC Portage Prairie V LLC <br /> t <br /> Business structure <br /> Company website greatlakescapital.com <br /> Proposed Project Information <br /> Proposed project address Dylan Drive Parent company name Great Lakes Capital <br /> City,State,Zip South Bend, IN, 46628 Legal owner GLC Portage Prairie V, LLC <br /> Site acreage or acreage required 30 acres Is the real estate owned or Owned <br /> Square feet of facility 296,400 If leased by whom <br /> Primary Contact Information <br /> Primary company contact name Isaac Hall Title Analyst <br /> Address of company contact 130 S Main St. Suite 325 Phone 574-360-5441 <br /> City,State,Zip South Bend, IN, 46601 Email ihall @ greatlakescapital.com <br /> Senior Official Information <br /> Company senior official name Jeff Smoke Title Managing Director <br /> Address of company contact(if different from 130 S Main St. Suite 325 Phone 574-360-5441 <br /> above <br /> City,State,Zip South Bend, IN, 46601 Email jsmoke@greatlakescapital.com <br /> Consultant Information/Agent <br /> Hired business consultant/agent name Rob Nichols Consultant release(Y/N) <br /> Address 315 W Jefferson Blvd Local economic development partners <br /> approval Y N <br /> City,State,Zip South Bend, IN 46601 Email rnichols@ abonmarche.com <br /> Project Overview <br /> Brief description of your <br /> company,project,and why the Great Lakes Capital is a private equity real estate company based in <br /> property is necessary for South Bend, Indiana that has and is currently developing assets across <br /> economic growth <br /> 8 states. Our company specializes in industrial and mixed-use <br /> developments. South Bend tenants currently have limited options for <br /> move in ready, modern, 50,000 SF+ facilities with 32' clear ceilings. <br /> GLC has proven this concept with three very successful "Spec" buildings <br /> in this same park in the last 36 months. The project is a 296,000 SF <br /> speculative warehouse building (no tenant signed up but a few with solid <br /> interest) and we have a solid track record of getting projects leased <br /> within 12 months of the construction start date. Without an abatement <br /> we are less competitive then other municipalities. <br /> Certified Technology Park appropriate <br /> Is the project in a Tax Incremental Financing Yes <br /> TIF area? If so which? <br /> Certify that the Building Permit has not been no permit Number of residential units created by <br /> lissued Y N <br /> If this is a petition for personal property tax abatement,has <br /> the equipment been installed <br /> Investment Details <br /> Public Infrastructure needs(Off- Has any 504 funding been What is the value of any equipment being purchased in What is the value of any equipment being <br /> site of project in dollars) received? Indiana for the project? purchased from out of state for the project? <br /> None No N/A TBD <br />
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