Bill No. 23-64 Tax Abatement Waiver of Non-Compliance for Nilkanth Properties 4836 W. Western Avenue

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Filed in Clerk's Office BILL NO. 23-64 NOV 0 7 2023 RESOLUTION NO. 5061-23 DAWN CITYCLE K MJONES UTH BEND IN A RESOLUTION REAFFIRMING THE GRANT OF CERTAIN REAL PROPERTY TAX ABATEMENT DEDUCTIONS AND WAIVING NONCOMPLIANCE FOR PROPERTY COMMONLY KNOWN AS 4836 W. WESTERN AVENUE, SOUTH BEND, INDIANA 46619 FOR Nilkanth Properties, LLC WHEREAS, on November 12,2018, the Common Council of the City of South Bend (the "Common Council")adopted Resolution No.4691-18(the"2018 Resolution"),approving a seven- year (7) real property tax deduction for a Dairy Queen Grill & Chill located at 4836 W. Western Avenue, South Bend, Indiana 46619 (the "Building") by Nilkanth Properties, LLC (the "Taxpayer")within an area located in the City of South Bend that had been designated an economic revitalization area in accordance with Indiana Code § 6-1.1-12.1 et seq.; WHEREAS, as part of the Taxpayer's deduction application, the Taxpayer described for the Common Council that Nilkanth Properties, LLC by the end of the three-year (3) designation period would (a) invest $1,660,661 to purchase and develop a new restaurant at 4836 W. Western Avenue, South Bend, Indiana 46619, and (b) create 20 new full-time jobs and 25 part-time jobs with a total estimated annual payroll of$741,000.00. WHEREAS, the Taxpayer completed construction of the Building and has met all objectives in its deduction application; WHEREAS, while the Taxpayer submitted its CF-1/RE and 322/RE forms to the City of South Bend Department of Community Investment in May 2020, May 2021, May 2022, and June 2023,the company may have inadvertently failed to timely and properly file the forms with the St. Joseph County Auditor; WHEREAS,the Common Council recognizes that the Taxpayer(a)has fulfilled its pledge to develop the Building; (b)has requested a waiver of its inadvertent oversight in failing to file the CF-1/RE and 322/RE forms for taxes due and payable in 2021, 2022, 2023 and 2024 with the St. Joseph County Auditor and instead filed forms with the wrong office to claim benefits of the tax deduction for the first four years of the tax deduction, which the Common Council has the power and authority to approve under Indiana law, and (c) would have been entitled to receive the tax deduction for the first four years of the deduction period had no noncompliance event occurred;