Confirming Tax Abatement - Demby Enterprises LLC 212-220 W. Ewing Ave. (7 Year Real Property)

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: KATHY HAHN SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: DEMBY ENTERPRISES, LLC DATE: November 14, 2013 On November 14, 2013, a petition for real property tax abatement consideration for property identified as 212 -220 West Ewing Avenue was filed with the City Clerk by Demby Enterprises, LLC. Pursuant to Chapter 2, Article 6, Section 2 -82 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community Investment for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. The Department of Community Investment has reviewed the petition, investigated the area, and makes the following report. PROJECT SUMMARY Demby Enterprises LLC actively manages the property. The real estate property is a cold storage warehouse facility with maintained temperature capabilities between -5 degrees and +40 degrees. The real estate is currently leased to Plumrose USA. Plumrose occupies 100% of the facility. Plumrose is a bacon and processed meat manufacturer that uses the property for inventory management and distribution. There is daily in and out semi -truck activity at the property. Demby manages the property for their use. Demby sustained a substantial fire loss in November 2012 rendering the property unusable for its intended use. The petitioner submitted a report showing the assessed value to be $450,300 but this assessed value does not reflect the effects of the fire. The petitioner is going to appeal this assessment and the petitioner indicates that his estimated value of the property is approximately $225,150. For our apreadsheet purposes the lower assessed value of $225,150 has been used to calculate the taxes presently on the building.