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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 /> RDistrict One,LLC <br /> DATE: November 17, 2015 <br /> On Tuesday, November 17, 2015, a petition from RDistrict One, LLC was received and <br /> subsequently filed with the City Clerk for real property tax abatement consideration for <br /> property to be located at 635 S.Lafayette Blvd,South Bend,IN 46601. Pursuant to Chapter <br /> 2, Article 6, Section 2-84.2 of the Municipal Code of the City of South Bend, this petition <br /> was referred to the Department of Community Investment for purposes of investigation <br /> and preparation of a report determining whether the area qualifies as an Economic <br /> Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have <br /> been met. <br /> The Department of Community Investment has reviewed the petition (a copy of which is <br /> attached), investigated the area, and makes the following report. <br /> PROJECT SUMMARY <br /> ➢ RDistrict One will develop Buildings "112 and 113" on the former Studebaker <br /> Assembly site in partnership with Studebaker 84 LLC. This development will <br /> adaptively re-use approximately 220,000 sq.ft. of space for educational,innovative <br /> office,mechanical, and advanced manufacturing space. <br /> ➢ $14,500,000 investment in building improvements and fixtures <br /> ➢ Total project taxes during ten year abatement period—$3,192,715 <br /> ➢ Estimated taxes being abated during ten year abatement period—$933,691 <br /> ➢ Total taxes to be paid during ten year abatement period—$2,259,024 <br /> EMPLOYMENT IMPACT <br /> Per the petition, it is estimated that the total project will: <br /> ➢ Create (20)twenty, full-time and zero (0)permanent,part-time jobs during the ten <br /> year abatement period,representing a new annual payroll of$800,800. <br /> PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES <br /> JITIN RAIN PAMELA C.MEYER CHRIS FIELDING BROCK ZEEB <br />