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

Home Browse Search

�`="" STATEMENT OF BENEFITS r 20 24 PAY 20 25 --. - VACANT BUILDING DEDUCTION FORM SB-1 I VBD J f State Form 55182(R2/1-21) �' ,,,. F 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-1/VBD. The Form CF-1NBD must also be updated each year in which the deduction is applicable. SECTION 1 TAXPAYER INFORMATION Name of taxpayer Studebaker Admin QOZB LLC Address of taxpayer Number and Street: 506 W South Street, Suite 210 city: South Bend State: IN ZIP: 46601 Name of contact person YY1 Telephone number E-mail address First Name: Sue Last Name: St I tlth (574) 340-6257 s.smith@iqi-bi.eom 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 County DLGF taxing district number Number and Street: 635 S. Main St. City: soaihBend State: IN ZIP:46601 St. Joseph - 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) Former Studebaker Administration Building Estimated date placed-in-use(month,day,year) SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS A RESULT OF PROPOSED PROJECT Current Number Salaries Number Retained Salaries Number Additional Salaries SECTION ESTIMATED TOTAL COST AND'VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS COST ASSESSED VALUE Current values $518,653 452.900 Plus estimated values of proposed project s 402,000 Less values of any property being replaced Net estimated values upon completion of project S 920,653 $452,900 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' Building was for sale for the past few years and has deteriorated during that time frame. Show amount for which the building was offered for sale,lease,or rent during period of vacancy. 518,653 List any other benefits resulting from the occupancy of the eligible vacant building. Saving of a historic structure. SECTION 6 TAXPAYER CERTIFICATION _ I hereby certify that the representations in this statement are true. Signer irau trorized represintat 1 Title Date sig (month, y;year) C. '"---.,r)^ 0 Ift‘n /I 7.--S"-- - / 7--/ '' ..-6 Page 1 of 2