Bill No. 23-06 Tax Abatement Property 536 S. Main St SB, IN 46601

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Fit^_: s ''_fifce 451-' 4' STATEMENT OF BENEFITS FEC [ I 'i J 20 PAY 20_` i,*at. REAL ESTATE IMPROVEMENTS I State Form 51767(Re 1 10-14) I- FORM SB-1 I Real Property Prescribed by the Department of Local Government F ance DAWN M.JONES CI:•CLERK .SOUTH BEND, IN PRIVACY NOTICE This statement is being completed for real property thatqualifies unde •: • •- • . - -- Any information concerning the cost o Redevelopment or rehabilitation of real estate improvements(IC 6-1.1-12.1-4) of the property and specific satanes paid to individual employees by the Re;idenllaly distressed area(IC 6-1.1-12.1-4.1) property owner Is confidential per IC 6-1 1-12.t-5.1 INSTRUCTIONS: 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing if the designating body requires information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise,this statement must be submitted to the designating body BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction. 2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the initiation of the redevelopment or rehabilitation for which the person desires to claim a deduction, 3. To obtain a deduction,a Form 322/RE must be filed with the County Auditor before May 10 in the year in which the addition to assessed valuation Is made or not later than thirty(30)days after the assessment notice is mailed fo the property owner if it was mailed after April 10. A property owner who failed to file a deduction application within the prescribed deadline may file an application between March 1 and May 10 of a subsequent year. 4. A property owner who files for the deduction must provide the County Auditor and designating body with a Form CF-1/Real Property. The Form CF-1/Real Property should be attached to the Form 322/RE when the deduction is first claimed and then updated annually for each year the deduction is applicable. IC 6-1.1-12.1-5.1(b) 5. For a Form SB-1/Real Property that is approved after June 30, 2013,the designating body is required to establish an abatement schedule for each deduction allowed. For a Form SB-1/Real Property that is approved prior to July 1, 2013,the abatement schedule approved by the designating body remains in effect. iC 6-1.1-12.1-17 SECTION 1 TAXPAYER INFORMATION Name of taxpayer SoMa Capital LLC 16Address of taxpayer(number and street,city[state,and ZIP code) 15 W. Colfax Avenue, South Bend, IN 46601 Name of contact person Telephone number E-mail address 3r 71 A gir1 C.!'7-cam) 574-286-7119 b.emberton@outlook.com SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resolution number Common Council of South Bend Location of property 1 County DLGF taxing district number 536 S. Main St, South Bend, IN 46601 St. Joseph', 026 Description of real property improvements,redevelopment,or rersabihlatxn(use adddsonai sheets d necessary) Estimated start date(month,day,year) 04/01/2023 Redevelopment of a building into 12 new apartments with new electric,gas,water, HVAC aEstimated completion date(month,day,yea')103/31/2024 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Salaries Numter retained Salaries Number additional Salaries SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS I COST I ASSESSED VALUE I Current values 1237000 1213900 Plus estimated values of proposed project 12065000 I 1 Less values of any property being replaced 10 I Net estimated values upon completion of project 2302000 SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER N/A Estimated solid waste converted(pounds)Estimated hazardous waste converted(pounds)N/A Other benefits SECTION 6 TAXPAYER CERTIFICATION I hereby certify that the representations in this statement are true. Signature of authorized representativeDate signed(month,day,year) 1 102/21/23 Printed name of authorized representativeTitle Mark W. Neal ICo-Manager Page 1 of 2