Confirming Tax Abatement - JSK Development Inc./Ireland Hospitality LLC 122 Callander St. (6 Year Real Property)

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BROCK ZEEB SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: JSK Development, Inc./Ireland Hospitality, LLC DATE: June 15, 2015 On Thursday, June 11, 2015, a petition from JSK Development, Inc. /Ireland Hospitality, LLC was received and subsequently filed with the City Clerk for real property tax abatement consideration for property to be located at 122 Callander St, South Bend, IN 46614. Pursuant to Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community Investment for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. The Department of Community Investment has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT SUMMARY ➢ Construction of a four story, 81 room Holiday Inn Express featuring standard amenities including a conference room, business center, indoor swimming pool and fitness facilities. ➢ $6,000,000 investment in new building construction and removal of three existing buildings on the site ➢ Total project taxes during six year abatement period— $1,054,265 ➢ Estimated taxes being abated during six year abatement period — $446,712 ➢ Total taxes to be paid during six year abatement period — $607,553 EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will: ➢ Create (14) fourteen permanent, full -time and zero (0) permanent, part-time jobs within the first year, representing a new annual payroll of $305,760 upon opening. PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES JITPI KAIN PAMELA C. MEYER CHRIS FIELDING BROCK ZEEB