Establishing an Economic Development Target Area (Former Chase Tower & Adjacent Parking Lot)

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040UrN 227 W.JEFFERSON BOULEVARD /ft*\ �� 2 PHONE:574/235-9371 SUITE 1400 S. !v� �� , , off, FAX:574/235-9021 SOUTH BEND,IN 46601-1830 4g'W1,44-"/,-tti 2' .,M1865 CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR COMMUNITY INVESTMENT SCOTT FORD, EXECUTIVE DIRECTOR October 7, 2015 Mr. Tim Scott, President South Bend Common Council 4th Floor County-City Building South Bend, IN 46601 RE: Establishing an Economic Development Target Area The Tower at Washington Square at 211 West Washington St. Dear President Scott: Attached for the Common Council's consideration is a proposed ordinance which approves and adopts a recommendation made by the South Bend Economic Development Commission establishing an Economic Development Target Area for the parcels known as The Tower at Washington Square (Parcel IDs—018-1008-0321 and 018-1012-047701 which parcel numbers are subject to change as a result of an anticipated subdivision of the property). The property known as the former Chase Tower and adjacent parking lot, located generally at 211 Washington Street, South Bend, Indiana (the "Property") has become undesirable or impossible for normal development and occupancy because of a lack of development, cessation of growth, deterioration of improvements or character of occupancy, age, obsolescence, substandard buildings, or other factors that have impaired values or prevented a normal development or use of property. More specifically, the Property, including its facade, plumbing, HVAC system, parking structure concrete, and elevators, has deteriorated and become obsolete to an extent that it cannot support normal development and occupancy. Based upon all of the above facts, the Commission at a regular meeting held on October 5, 2015, approved Resolution No. 2015-03. The South Bend Economic Development Commission, in furtherance of economic development within the City of South Bend, has investigated, studied and surveyed the need for additional job opportunities within the City and has made recommendations concerning economic development possibilities within the City. Based on its investigatory action, studies and surveys, the Commission has determined that it is necessary to designate the 211 West Washington St as an Economic Development Target Area which will make The Tower at Washington Square a more attractive investment and facilitate the development and occupancy of the building. Thank you for your consideration. Brock Zeeb or Chris Fielding will atwnc?h�CQrrlmittee and Council meeting to address any questions. Fred i6i , :- Office Cordially, 7777 OCT z�1 JOHN vt%U'rUi§ Brock Zeeb CITY MESH,SOUTH BEND,IN PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES JEI IN KAIN PAMELA C.MEYER CNRIS FIELDING BROCK ZEEB V r