Bill No. 23-38 Herstoric Properties LLC CONFIRMING South 516 Michigan St, SB, IN 2 yr. Vacant Building tax abatement

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City of South Bend Instructions:Complete pages 1-3 AND the proper Form SB-1 for •- Petition for Incentives the type ofabatement(r Un property or personal pro I F!ed rn.Cferk,.g Office Petition must Include a$250 filing fee payable to the City Clerk's Office for which you are applying. before processing can be complete General Information Project Name Monarch Printing Co Project Nunjer JUk) n 5 90Lf2' Legal name as registered with tl Secretary of State Herstoric Properties, LLC Business structure LAWN IA.JUNES Domestic Limited Liability Company rtrvrl PRK,SOUTH BEND,IN Company website https://www.instagram.com/herstoricdevelopment/ Proposed Project Information Proposed project address 516 South Michigan St Parent company name Herstoric Properties, LLC City,State,Zip South Bend, IN 46601 Legal owner Herstoric Properties, LLC Site acreage or acreage required Is the real estate owned 0.12 or leased? Owned Square feet of facility 8,900 If leased,by whom? Primary Contact Information Primary company contact name Charity Stowe Title Address of company contact Phone 614 South Saint Joseph Street (574) 300-8041 City,State,Zip South Bend, IN 46601 Email charity.herdevelopment@gmail.com Senior Official Information Company senior official name Rachel Mospan Title Address of company contact Phone (if different from above) 15555 Hunting Ridge Trail (312) 590-0062 City,State,Zip Granger, IN 46530 Email rachelmospan@gmail.com Consultant Information/Agent Hired business consultant/agent name Consultant release?(Y/N) Address Local economic development partners approval?lY/N) City,State,Zip Email Project Overview Brief description of your Herstoric Properties is the property owner for Herstoric Development,an incremental development company focused on the company,project,and why the Monroe Park neighborhood of South Bend.We are enhancing the beauty and function of the neighborhood while honoring the property is necessary for history and preserving the culture that already exists. economic growth The Monarch Printing Co building is designated as a local historic landmark.While it has been damaged by neglect,time and the elements and is in need of repair,it remains an excellent example of Neo-Classical style detailed commercial construction with many original features remaining intact. We plan to restore the building,maintaining historic characteristics and charm,while adapting the use of the building to meet the needs of the surrounding community Phase 1 will be to renovate and activate the first floor commercial spaces.When leasing the space,we will focus on local,small businesses that employ and/or serve the neighbors of Monroe Park.This is one of the few commercial buildings close to the neighborhood,so it will fill a need for beautiful and accessible commercial space,allowing these small businesses;c put down roots,grow and flourish Phase 2 will involve renovating and leasing the second floor as residential apartments.We plan to offer affordable rental rates to all tenants,commercial and residential,as our mission is to keep barriers low for tenants and businesses to participate and thrive in the community and economy Certified Technology Park appropriate N/A Is the project in a Tax Incremental Financing (TIF)area? If so,which? River West Have Building Permits been Issued?IY/N) Number of residential units created by (Note•Noteligible for abatement ifYes) N protect 6 (in Phase 2) If this is a petition for personal property tax abatement,has the equipment been installed? N/A 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? N/A No N/A N/A