Confirming Tax Abatement - East Bank South Bend Development LLC 215 N. Sycamore St. (8 Year Real Property)

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CITY OF SOUTH BEND PETITION FOR REAL PROPERTY TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for real property tax abatement consideration and pursuant to I.C., 6 -1.1- 12.1 -1, at se g., and South Bend Municipal Code Sec. 2 -76 et seg., for this petition state the following: Describe the proposed redevelopment or rehabilitation project, including information about physical improvements to be made, the proposed use of the improvements, and a general statement as to the importance of the project to your business: Construction of a 5 story mixed use building with ground floor commercial and residential on floors 2, 3,4 and 5. Commercial ground floor space is approximately 3,200 square feet. The objective is to test the market for new residential apartments in South Bend's Central Business District. Each of the floors 2 - 5 will consist of a one bedroom apartment, a two bedroom apartment and a three bedroom apartment. The total # of residential units is 12. The building is to be built adjacent to the the East Bank Townhomes, facing Sycamore St. Land Size o.lo acres; Building Size 16,000 q.ft. 2. Describe the overall nature of the business and of the operations occurring at the Property (Please attach an additional sheet if more space is needed): Multifamily building renting to single families with ground floor commercial space. 3. Estimate the dollar value of the project (excluding land): $ 2, Soo, 000.00 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement is: $ 6,100.00 (This information may be obtained from the St. Joseph County Assessors Office 235- 9557.) 5. (a) The real property for which tax abatement consideration is petitioned (Property) is owned or to be owned by the following individual(s) or corporation(s) (if the business organization is publicly held, indicate also the name of the corporate parent, if any, and the name under which the corporation has filed with the Securities and Exchange Commission): NAME ADDRESS INTEREST( %) East Bank South Bend Development, IJC 121 S. Niles Ave., South Bend, In 46617 1006 (Rev 5/13111) 1