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DocuSign Envelope ID:DBF1C726-DE7142B2-AE01-AD6D16F646AD <br /> South Bend Tax Abatement Ordinance Overview <br /> Procedures and General Standards—Abatement in Tiers <br /> South Bend's Abatement Program is a program which awards a base level of <br /> abatement for any project that meets certain minimum level development standards. <br /> Additional years of abatement may be added to this base for projects involving the <br /> development or rehabilitation of commercial real property listed in the following table <br /> provided the project fosters certain economic development and other public benefits. <br /> Base Abatement <br /> Base Abatements may be awarded according to the following schedule: <br /> Development Area New Rehab. Add- Base <br /> Constr. On? Yrs <br /> Multi-Family EDTA $1,000,000 $250,000 Yes 3 <br /> Single Family Ci -wide An n.a. No 5 <br /> Office CBD 15,000 sf 5 000 sf Yes 3 <br /> Office EBDA,TAIA 7,500sf 5,000 sf Yes 3 <br /> Retail CBD, EBDA,TAIA An An Yes 3 <br /> Retail UEZ An An Yes 3 <br /> Mixed Use CBD 15,000 sf 5,000 sf Yes 3 <br /> Mixed Use EBDA 7,500 sf 5,000 sf Yes 3 <br /> Institutional CBD, EBDA,UEZ An An Yes 3 <br /> Hotel/Motel CBD, EBDA,AEDA 20 rooms n.a. Yes 3 <br /> Industrial City-wide 10,000 sf 10,000 sf Yes 3 <br /> Industrial UEZ, RBA An An Yes 3 <br /> Warehouse City-wide 25,000 sf 25,000 sf Yes 3 <br /> Warehouse EDTA, UEZ, RBA Any Any Yes 3 <br /> Personal Property City-wide Any None No 5 <br /> E ui . & Machine <br /> Definitions of Area Abbreviations <br /> Airport Economic Development Area Central Business District <br /> East Bank Development Area Economic Development Target Area <br /> Redevelopment Blighted Area Tax Abatement Impact Area <br /> Urban Enterprise Zone <br /> Additional Base Abatement Criteria <br /> • The project must be perceived to generate a ten-year financial return (in taxes, <br /> fees,pmts,community econ & social benefits...) sufficient to justify the <br /> City's direct investment in infrastructure support. <br /> • A Memorandum of Agreement is executed which speaks to: <br /> • The conditions of the abatement <br /> • The timeframe for actions <br /> • An agreement to respond to surveys related to co FlifflU C t ! <br /> (Rev. 5/13/11) SOUO TrFa i 8_ro a s, <br /> Lt <br /> i i <br /> tD <br />