25-06 Designating Resolution - Vacant Building Tax Abatement for 635 South Main Street

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n CITY OF SOUTH BEND COMMUNITY INVESTMENT r ,WS January 22, 2025 Filed in Clerk's Office Council Member Troy Warner Chairperson, Community Investment Committee South Bend Common Council Bianca Tirado County-City Building, 4th Floor City Clerk,South Bend, IN South Bend, Indiana 46601 RE: Declaratory Resolution: Vacant Building Tax Abatement for Studebaker Admin QOZB LLC Dear Council Member Warner, Please find the enclosed Declaratory Resolution and supporting information pertaining to a tax abatement petition submitted by Studebaker Admin QOZB LLC, an Indiana Limited Liability Company. This petition package includes: • Department of Community Investment's summary report • Petition for abatement • Statement of Benefits forms (SB-1 / Real Property) • Supporting information The report contains the Department's findings relative to the above-mentioned petition. The petitioner intends to stabilize the property at 635 S. Main Street by replacing the roof and installing new windows. The building has been vacant for two decades and was previously the headquarters of the Studebaker Corporation and then the South Bend Community School Corporation. The total investment for this project is $920,653. The project meets the qualifications for a two- year(2)vacant building tax abatement. A representative from Studebaker Admin QOZB, LLC, will be available to meet with the Committee on Monday, January 27, 2025. If you or other Council members have questions about the report or need additional information, please feel free to call me at (574) 245-6022 Sincerely, Joseph Molnar Assistant Director, Growth and Opportunity EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 14005 County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov