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

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'''' 4. STATEMENT OF BENEFITS 2023 PAY 2024 i4 ; VACANT BUILDING DEDUCTION , State Form 55182(R2l 1-21) FORM SB-1/VBD 1 �w, . Prescribed by the Department of Local Government Finance PRIVACY NOTICE This statement is being completed for real property that qualifies as an"eligible vacant building"as defined by ' The cost and any specific individual's iC 6-1.1-12.1-1(17). salary information is confidential;the balance of the filing is public record per IC 6-1.1-12.1-5.1 (c)and(d). 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 occupation of the eligible vacant building for which the person wishes to claim a deduction. 2. To obtain a vacant building deduction,a Form 322/VBD must be filed with the county auditor before May 10 in the year in which the property owner or his tenant occupies the vacant building or not later than thirty(30)days after the assessment notice is mailed to the property owner if it was mailed after April 10. If the property owner misses the May 10 deadline in the initial year of occupation,he can apply between January 1 and May 10 of a subsequent year. 3 A property owner who files the Form 322/VBD must provide the county auditor and the designating body with a Form CF-1/1180 to show compliance with the approved Form SB-1/VBD The Form CF-1NBD must also be updated each year in which the deduction is applicable. SECTION 1 TAXPAYER INFORMATION Narie of taxpayer Herstoric Properties, LLC Address of taxpayer Number and Strert: 614 South Saint Joseph Street City: South Bend Stat: IN ».p: 46601 Name of contact person Telephone number E-mail address IM-4 Nime Charity T.,V.inv. Stowe (574) 300-8041 charity,herdevelopmiint@gmail.com SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resolution number Common Council of the City of South Bend Location of property County DLGF taxing district number Numberandsnret. 516 S.Michigan St. city,South Sia(,. IN gym:46601 St. Joseph 026(South Bend-Portage) Description of eligible vacant building that the property owner or tenant will occupy(use additional sheets if necessary) Estimated occupancy date(month,day,year) The Monarch Printing Co. building is designated as a local historic landmark. It has been damaged 11/1/2023 by neglect, time and the elements and is in need of repair.The building is vacant until initial Estimated date placed-in-use(month,day.year) renovations can be completed. 11/1/2023 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS A RESULT OF PROPOSED PROJECT Current Number 0 Salaries Number Retained 0 Saltines Number Additional 3 Salaries $ 210,000 SECTION ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE Current values $0 $36,500 Plus estimated values of proposed project $500,000 $400,000 Less values of any property being replaced $o $0 Net estimated values upon completion of protect $500.000 $436,500 SECTION 5 EFFORTS TO SELL OR LEASE VACANT BUILDING Described efforts oy the owner or previous owner to sell lease or rent the building dJr:ng period or vacancy Took ownership in January 2023. Because renovations are needed, efforts to sell, lease, or rent the building thus far have been challenging. Show amount for which the building was offered for sale,lease,or rent during period of vacancy N/A List any other benefits resulting from the occupancy of the eligible vacant building, Once this building is occupied it will contribute beauty and commerce to the street and the district. SECTION 6 TAXPAYER CERTIFICATION I hereby certify that the representations in this statement are true. Signature of authorized representative (t 'Title Date signed(month.day year) 114.ylct�ft)tL JI Co-owners 6/2/2023 Page 1 of 2