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i 4iZ"L" ''Nf If4‘--„, <br /> !461,\,,. <br /> CITY OF SOUTH BEND <br /> ._ COMMUNITY INVESTMENT <br /> July 8, 2025 Filed in Clerk's Office <br /> Council Member Troy Warner JUL 8 2025 <br /> Chairperson, Community Investment Committee <br /> South Bend Common Council Bianca Tirado <br /> County-City Building, 49' Floor City Clerk, South Bend, IN <br /> South Bend, Indiana 46601 <br /> RE: Confirming Resolution: Multi-Family Development Real Property Tax Abatement <br /> Petition for the KCG Donald & Main, LP (c/o KCG Companies, LLC) <br /> Dear Council Member Warner, <br /> Please find the enclosed Confirming Resolution and Memorandum of Agreement for a multi- <br /> family development real property tax abatement for KCG Companies, LLC, an Indiana Limited <br /> Liability Company. The petitioner plans to construct a new affordable apartment building at 2020 <br /> S. Main Street. This proposed abatement is part of a support package partnering with KCG <br /> Companies, which is applying for rental housing tax credits through the Indiana Housing & <br /> Community Development Authority (IHCDA). The abatement will go into effect only if this project <br /> is chosen by IHCDA in this year's competitive Tax Credit application round. <br /> The total investment for this project is $14,000,000. The project meets the qualifications for an <br /> ten-year(10) multi-family development real property tax abatement. <br /> A representative from KCG Companies LLC, will be available to meet with the Committee on <br /> Monday, July 14, 20245. <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) 245-6022 <br /> Sincerely, <br /> Joseph Molnar, <br /> Assistant Director, Growth & Opportunity <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov <br />