My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
05-12-14 Council Agenda & Packet
sbend
>
Public
>
Common Council
>
Common Council Agenda Packets
>
2014
>
05-12-14 Council Agenda & Packet
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/8/2014 11:40:42 AM
Creation date
5/22/2014 1:12:48 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
5/12/2014
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
131
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
South Bend Common Council <br />RE: Tax Abatement for Colfax Hill Partners, LLC <br />April 28, 2014 <br />Page 2 <br />It was determined they best met the established criteria. The site is surrounded by successful area <br />investment including Eddy Street, the Triangle Neighborhood, St. Joseph High School, and multiple <br />downtown South Bend projects. The successful development of this site wi l] further the revitalization of <br />the East Bank Village and Downtown South Bend as well as enhance the ongoing area investment. The <br />project cost is $2,900,000. <br />Based on an eight year abatement, taxes abated would be $299,443 and net tax paid would be <br />$416,172. <br />EMPLOYMENTIMPACT <br />Per the petition, are not any jobs forecasted to be retained or created; however, there will be created <br />jobs for the businesses in the commercial space. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abaterne is previously granted finds that the Petitioner, Colfax Hill Partners, <br />LLC has not been granted any previous abatements. <br />2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned <br />for the proposed project. <br />3. The property is located in the East Bank Business District. <br />4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the <br />qualifications for an (8) eight -year real property tax abatement under section 2 -80 Mixed Use <br />Developments in the East Bank Business District. <br />
The URL can be used to link to this page
Your browser does not support the video tag.