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227 W. JEFFERSON BOULEVARD <br />SUITE 1400 S. <br />SOUTH BEND, IN 46601 -1830 <br />CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR <br />COMMUNITY INVESTMENT <br />SCOTT FORD, EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: KATHY HAHN <br />SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />GREAT LAKES CAPITAL DEVELOPMENT <br />DATE: February 12, 2014 <br />PHONE: 574/235 -9371 <br />FAX: 574/235 -9021 <br />On August 21, 2013, a petition for real property tax abatement consideration for property located at 237 <br />North Michigan Street was filed with the City Clerk by Great Lakes Capital Development. Pursuant to <br />Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was <br />referred to the Department of Community Investment for purposes of investigation and preparation of a <br />report determining whether the area qualifies as an Economic Revitalization Area pursuant to <br />I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. <br />The Department of Community Investment has reviewed the petition, investigated the area, and makes the <br />following report. <br />PROJECT SUMMARY <br />In order to strengthen and aid in the redensification of core value within downtown South Bend, the <br />petitioner proposes interior, exterior, and site renovation for the Hotel LaSalle building. This will mark the <br />third in five currently slated improvement projects for downtown South Bend. The other sites include <br />American Trust Place Phase I, Phase II, Main Street Row, and Citizen's Bank & Trust. This all adds to <br />the value creation for downtown. The proposed rehabilitation will cost $9,537,076.10. After renovation <br />the primary use would be residential with commercial use on the main level. <br />ASSISTANT EXECUTIVE DIRECTOR PLANNING NEIGHBORHOOD ENGAGEMENT ECONOMIC RFSOURCES <br />CHRIS FIELDING JITIN KAIN PAMELA C. MEYER BROCKZEEB <br />