5054-23 Designating (2 YR) Vacant Building Tax Abatement for 542 N. Scott St. & 430 Cottage Grove Ave._Property Bros LLC

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'"`�"w STATEMENT OF BENEFITS zo 23 PAY2024 VACANT BUILDING DEDUCTION (' State Form 55182(R2/1-21) FORM SB-1/VBD 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 322NBD 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 322NBD must provide the county auditor and the designating body with a Form CF-1NBD to show compliance with the approved Form SB-1NBD. The Form CF-1NBD must also be updated each year in which the deduction is applicable. SECTION 1 TAXPAYER INFORMATION Name of taxpayer Property Bros LLC Address of taxpayer Number and Street: 1251 N. Eddy Street, Suite 200 city South Bend State: IN ZIP: 46617 Name of contact person Telephone number E-mail address First Name Jordan 1.asl sam,. Richardson (574)904-5674 jordan@propertybrosllc.com SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resolution number Common Council of the City of South Bend 954-23 Location of property County DLGF taxing district number Number and Street: 542 N. Scott St. City, South Bend State: IN %Ip:46616 St. Joseph rr 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) Vacant 4-unit residential building 2024-01-31 Estimat t placed in use(month,day,year) SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS A RESULT OF PROPOSED PROJECT II 33 Current Number a Salaries$ O Number Retained 0 Salaries $ O Number Additional O Salaries 0 SECTION ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE Current values $90,000 $49,400 Plus estimated values of proposed project $277,100 $171,680 Less values of any property being replaced $0 $0 Net estimated values upon completion of project $367,100 $221,080 SECTION 5 EFFORTS TO SELL OR LEASE VACANT BUILDING Described efforts by the owner or previous owner to sell lease or rent the building during period of vacancy: Current owner recently purchased the building and will rehabilitate the property. It is been vacant for several years and is currently in no shape to be rented. Show amount for which the building was offered for sale,lease,or rent during period of vacancy. $90,000 List any other benefits resulting from the occupancy of the eligible vacant building. SECTION 6 TAXPAYER CERTIFICATION n I hereby certify that the representations in this statement are true. Signatur (.(epfl` f � j( TtI�EO Da �ig dIr�pnt}t9day,year) Page 1 of 2 23 lJ9 1 Document Ref:TSSID-WE7ZE-V8A6R-RTABU