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O� <br /> l <br /> . :-. <br /> � d CITY OF SOUTH BEND <br /> w ,ia <br /> ';�, `-::mar` COMMUNITY INVESTMENT <br /> K �lHwd 2 o cal <br /> City Clerk, South Bend, IN <br /> /8165 <br /> March 20, 2024 <br /> Council Member Troy Warner <br /> Chairperson, Community Investment Committee <br /> South Bend Common Council <br /> County-City Building, 4th Floor <br /> South Bend, Indiana 46601 <br /> RE: Confirming Resolution: Mixed-Use Development Real Property Tax Abatement <br /> Petition for the Momentum Development Group, LLC <br /> Dear Council Member Warner, <br /> Please find the enclosed Confirming Resolution and Memorandum of Agreement for a mixed- <br /> use development real property tax abatement for Momentum Development Group, LLC, an <br /> Indiana Limited Liability Company. The petitioner plans to redevelop the property at 510 S. Main <br /> Street into an entrepreneurship hub with co-working spaces, commercial kitchen, and retail <br /> space. The building has been vacant for several years and was previously owned by the <br /> Salvation Army before the City acquired the property in 2019. <br /> The total investment for this project is $6,343,000. The project meets the qualifications for an <br /> eight-year (8) mixed-use development real property tax abatement. <br /> A representative from Momentum Development Group, LLC, will be available to meet with the <br /> Committee on Monday, March 25, 2024. <br /> Should you or other Council members have questions about the report or need additional <br /> information, please feel free to call me at (574) 235-5838. <br /> Sincerely, <br /> Erik Glavich <br /> Director, Growth and Opportunity <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />