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25-06 Designating Resolution - Vacant Building Tax Abatement for 635 South Main Street
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25-06 Designating Resolution - Vacant Building Tax Abatement for 635 South Main Street
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• Current estimated annual real property taxes: $15,326 <br /> • Total estimated combined taxes during the two-year (2) abatement period: $30,652 <br /> o Estimated taxes being abated during the abatement period: $20,441 <br /> • Estimated total taxes to be paid during the abatement period: $10,211 <br /> Abatement Qualification <br /> 1. A review of the tax abatements previously granted finds that the petitioner has been <br /> granted the following prior abatement. <br /> • Resolution No. 4514-15 (12/14/25): Ten-year (10) real property tax abatement for <br /> property located at 635 S. Lafayette Blvd granted to RDistrict One LLC. The <br /> petitioner (Studebaker Admin QOZB LLC) and RDistrict One LLC are under <br /> common ownership. <br /> 2. The property is properly zoned for the proposed project. <br /> 3. Taxes on the property have been paid in full. <br /> 4. A review of the South Bend Redevelopment designation areas finds that the property is <br /> in the River West Development Area. <br /> 5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets <br /> the qualifications for a Two-year (2) vacant building tax abatement under Division 9 <br /> (Miscellaneous Real Property Tax Abatement), Section 2-84 (Council's Authority to <br /> Enlarge Real Property Tax Abatement General Standards). <br /> 2 <br />
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