5093-24 Declaratory Resolution - Real Property Tax Abatement 619 Sherman Avenue, 620 Sherman Avenue, and 1021 1/2 - 1023 1/2 Lincoln Way West

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� STATEMENT OF BENEFITS 2024 PAY 2025 x' `�` REAL ESTATE IMPROVEMENTS State Form 51767(R7 FORM SBA 1 Real Property Prescribed by the Department of Local Government Finance PRIVACY NOTICE This statement is being completed for real property that qualifies under the following Indiana Code(check one box): Any information concerning the cost Redevelopment or rehabilitation of real estate improvements(IC 6-1.1-12.1-4 of theindividual al a specific salaries P P ) paid to individual employees by the ❑ Residentially distressed area(IC 6-1.1-12.1-4.1) property owner is confidential per IC 6-1.1-12.1-5.1. INSTRUCTIONS. 1. This statement must be submitted to the body designating the Economic Revitalization Area pnor 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 redevelopment or rehabilitation of real property for which the person wishes to claim a deduction 2. The statement of benefits form must be submitted to the designating body and the area designated an economic revitalization area before the initiation of the redevelopment or rehabilitation for which the person desires to claim a deduction. 3. To obtain a deduction.a Form 322/RE must be filed with the county auditor before May 10 in the year in which the addition to assessed valuation is made or not later than thirty(30) days after the assessment notice is mailed to the property owner if it was mailed after Apnl 10 A property owner who failed to file a deduction application within the prescribed deadline may file an application between January 1 and May 10 of a subsequent year 4. A property owner who files for the deduction must provide the county auditor and designating body with a Form CF-1/Real Property The Form CF-1/Real Property should be attached to the Form 322/RE when the deduction is first claimed and then updated annually for each year the deduction is applicable. IC 6-1 1-12 1-5.1(b) 5. For a Form SB-1/Real Property that is approved after June 30, 2013, the designating body is required to establish an abatement schedule for each deduction allowed. For a Form S8-1/Real Property that is approved prior to July 1 2013, the abatement schedule approved by the designating body remains in effect IC 6-1.1-12.1-1 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 Last Name: 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 Location of property Number and Street City State ZIP County DLGF taxing district number 619,620 Sherman&1021 1/2-1023 1/2 LWW South Bend IN 46616 St. Joseph 026(South Bend-Portage) Description of real property improvements,redevelopment,or rehabilitation(use additional sheets if necessary) Estimated start date(month,day,year) Construction of 4 new duplexes:One duplex on the west side of Sherman at 619 Sherman Ave.Two 10/31/2024 duplexes will be built on east side of Sherman just north of a newly-built duplex.The fourth duplex Estimated completion date(month,day yea') will be built on the northeast corner of Lincoln Way West and Sherman. 10/31/2025 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current Number Salaries Number Retained Salaries Number Additional Salaries 0 $0 0 $0 0 $0 SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE Current values $o $0 Plus estimated values of proposed project $1,440,000 $6o4,soo Less values of any property being replaced S o $0 Net estimated values upon completion of project $1,440.000 $604,800 SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) 0 Other benefits SECTION 6 TAXPAYER CERTIFICATION I hereby certify tha .• epr-:-ntations in this statement are true_ Signature of authpriz d repress..-ise Date signed(month,day.year) 9/16/2024 Printed name o -.honze representative Title Jord= Richardson CEO Page 1 of 2