11-25-13 Common Council Agenda & Packet

Home Browse Search

DocuSign Envelope ID:D8F1C726-DE71-4282-AE01-AD6D18F646AD 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, et seg., and South Bend Municipal Code Sec. 2-76 et sea., for this petition state the following: 1. 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: In order to strengthen and aid in redensification of core value within downtown South Bend we propose interior exterior and site renovation for Hotel LaSalle building. This marks the 3rd in 5 currently slated improvement projects for downtown South Bend sites also including American Trust Place Phase I Phase II on the horizon, Main Street Row, and Citizen's Bank & Trust This all addling to the value creation for downtown Land Size 0 . 75 Acres acres; Building Size 10 7, 000 sq.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): The property is currently vacant in need of renovation for __ occupancy. After renovation the primary use would residential with commercial use on the main level . 3. Estimate the dollar value of the project (excluding land): $ 9, 537, 076 . 10 4. The current assessed valuation of the real property before rehabilitation, redevelopment, economic revitalization, or improvement is: $__L62, 600 (This information may be obtained from the St.Joseph County Assessor's 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(%) Great Lakes 112 W. Jefferson Blvd. 100% Capital Development Suite 200 South Bend, IN 46601 (Rev 5/13/11) 1