Bill No. 23-35 Declaratory Resolution 1202 Lafayette 10 yr. Real Property Tax Abatement KCG Company

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City of South Bend :Instructions:Complete pags ~t 1d Ft(etJ-•t' r' rk'E Office AND the proper Form SB-1 ijor Petition for Incentives the type ofabatement(rea+ property or personal propefLty) � "- Petition must include a$250 filing fee payable to the City Clerk's Office for which you are applying.' s IiJ! 71 2123 before processing con be complete I General Information Project Name TBD PrbjectNumi`e`r DAWN M.JONES Legal name as registered with ) CT�Y Ut-ERK,SOUTh BEND,IN Secretary of State KCG Companies, LLC (Florida entity) __--.--_ Business structure LLC Company website https://www.kcgcompanies.com/ Proposed Project Information Proposed project address 1202 S. Lafayette Blvd. Parent company name KCG Companies City,State,Zip South Bend, IN 46624 Legal owner Dept.of Redevelopmenl-City of South Bend Site acreage or acreage required 0.92 acres Is the real estate owned or leased? Owned by Dept.of Redevelopment Square feet of facility Approx. 50,500 Ifleased,by whom? N/A Primary Contact Information Primary company contact name Todd Jensen -rule VP of Development- Midwest Address of company contact 9311 N. Meridian St, Ste. 100 Phone (317) 688-1729 City,State,Zip Indianapolis, IN 46260 Email todd.jensen@kcgcompanies.com Senior Official Information Company senior official name RJ Pasquesi Title President Address of company contact Phone (H different from above) 9311 N. Meridian St, Ste. 100 317-708-6519 CIty,State,Zip Indianapolis, IN 46260 Email rj.pasquesi@kcgcompanies.com Consultant Information/Agent Hired business consultant/agent name N/A Consultant release?(Y/N) Address Local economic development partners approval?(Y/N0 City,State,Zip Email Project Overview Brief description of your Founded in 2015,KCG Companies is an Indianapolis-based,developer,builder and manager of company,project,and why the property Is necessary for affordable housing. KCG would like to be part of the solution to address(he affordable housing economic growth shortage in South Bend now&in the future. Please see the attached KCG Resume for additional background on our company. KCG Development is proposing a 50-unit,multifamily affordable housing development consisting of 30 one-bedroom&20 two-bedroom units.Rents would be a mix of 60%,50%&30%of the Area Median Income(AMI)with eight units offering Project-Based Vouchers.The property is currently a vacant parcel. KCG will be competing for Low Income Housing Tax Credits(LIHTC)with the Indiana Housing&Community Development Authority if successful in receiving a satisfactory LIHTC award,KCG would move forward on this project with total development costs currently projected at approximately$12 5MM.Providing quality,affordable housing in the downtown area is crucial to the area's economic growth. Many employees want to live close to their jobs-especially given the high gas prices the last few years.With the loss of hundreds of affordable housing units in the area due to the recent closings of Rabbi Shulman&Monroe Circle Apartments,replacing those units so that residents can continue to Eve and work in the downtown area is important for the local economy. Certified Technology Park appropriate No Is the project lea Tau Incremental Financing (rift area? if so,which? Yes, River West Development Area Have Building Permits been Issued?(V/N) 'Number of residential units created by 50 [Note-Not eligible for abatement if Yes] No project It this Is a petition for personal property tan abatement,has the equipment been installed? Equipment has not been installed. Investment Details Public Infrastructure needs Has any 504 funding been What is the value of any equipment being purchased in What Is the value of any equipment being (Off-site of project In dollars) received? Indiana for the project? purchased from out of state for the project? No