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SourxB <br />04 Vl4��I:JJr�'fp <br />227 W. JugI Rsm BnnI Ako <br />50x1L 1400 S. <br />SU(a it BErvO. IN 46601 -1830 <br />� 1865 <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 />COLFAX HILL PARTNERS. LLC <br />DATE: April 28, 2014 <br />PHIIN.: 574n35 -9371 <br />FAX: 574135 -1x121 <br />On August 28, 2014, a petition for real property tax abatement consideration for property <br />located at 525 East Colfax was filed with the City Clerk by Colfax Hill Partners, LLC. <br />Pursuant to Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of <br />South Bend, this petition was referred to the Department of Community Investment for <br />purposes of investigation and preparation of a report determining whether the area <br />..qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1 -12.1 and whether all <br />zoning requirements have been met. <br />The Department of Community Investment has reviewed the petition, investigated the <br />area, and makes the following report. <br />PROJECT SUMMARY <br />Colfax Hill Partners, LLC was formed to purchase and develop the vacant site located on the northwest <br />corner of Colfax Avenue and Hill Street in South Bend, Indiana. The company's background in <br />commercial development and leasing, architecture, and construction was primarily obtained in Chicago, <br />Denver, and Wyoming. They plan to develop a [nixed use building consisting of approximately 4,725 <br />square feet of ground floor commercial space and 18,275 square feet of market rate residential <br />apartments (13 units) for a total development of approximately 23,000 square feet. Their development <br />plan reflects urban design principles and meets the criteria established in the East Bank Village Master <br />Plan for the infill site which has been vacant for over 15 years. They plan to attract and retain the <br />millennial demographic. The Department of Community Investment and the Redevelopment <br />Commission have determined that this project is necessary for economic growth and have requested <br />proposals in order to choose a development partner. Colfax Hill Partners, LLC was chosen because it <br />PLA]ll\n NEICnBORnOOD ENGAGILMENI at ER DEPr.1.oP %iENr ECOSo+nc RESM RCER <br />III I\KAI] P%111t I C. NI11'R CIImis Fll I Dna N", D E. NRs <br />