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TAX ABATEMENT REPORT <br /> TO: SOUTH BEND COMMON COUNCIL <br /> FROM: BROCK ZEEB <br /> SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br /> The Tower at Washington Square, LLC <br /> DATE: September 22, 2015 <br /> Attached please find the petitions of The Tower at Washington Square LLC (the <br /> "Petitioner"), seeking real property tax abatement for the real property within the City of <br /> South Bend, Indiana, commonly known as 211 West Washington Street (the "Property"). <br /> In order to permit Petitioner to increase the scope of the rehabilitation of the Property, <br /> Petitioner requests that the Common Council rescind Resolution 4353-14 adopted on April <br /> 28, 2014 by the Common Council and Resolution No. 4361-14, adopted on May 12, 2014 <br /> by the Common Council which previously designated the Property as an Economic <br /> Revitalization Area for the purposes of tax abatement and only for a period of two (2) <br /> calendar years. As part of the increase in scope of rehabilitation, the Property shall be <br /> subdivided into four (4) separate tax parcels based upon the designated use of each tax <br /> parcel. The designated uses of the parcels shall be(i)a hotel; (ii)parking garage; (iii)retail; <br /> and(iv)residential apartments.Upon the subdivision of the Property,the Petitioner expects <br /> that each parcel will be owned by a separate entity, each affiliated with the Petitioner. The <br /> Petitioner requests a vacant building deduction for the parcel designated for a hotel. At <br /> this time, the Petitioner also requests a deduction for real estate improvements for the <br /> parking garage and the retail uses. The Petitioner expects to file a petition for the apartment <br /> use at the next Common Council meeting. The requested tax deduction for the hotel, <br /> parking garage and retail is set forth in the tax abatement schedule in each petition. <br /> The Petitioner requests that the Common Council now consider the three(3)petitions filed <br /> herewith. The Petitioner requests that Common Council consider the petitions and adoption <br /> of the related declaratory resolutions prior to such subdivision. The Petitioner shall provide <br /> the Common Council with the key numbers for the new parcels prior to the Common <br /> Council's consideration of confirming resolutions. <br /> PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES <br /> JITIN KAIN PAMELA C.MEYER CHRIS FIELDING BROCK ZEEB <br />