CONFIRMING TAX ABATEMENT - Ontario Partners LLC - Lot 4 Portage Prairie Minor #5, South Bend, IN 46601 Ten (10) YR Real Porperty

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TAX ABA TEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BROCK ZEEB SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: Ontario Partners, LLC DATE: December 8, 2015 On Tuesday, December 8, 2015, a petition from Ontario Partners, LLC was received and subsequently filed with the City Clerk for real property tax abatement consideration for property to be located in the Ameriplex business park. 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 ➢ Ontario Partners, LLC will construct a 165,000 sq. ft. facility to serve multiple tenants. Approximately 45% (75,000 SF) of the facility will be pre - leased, leaving approximately 55% (90,000 SF) to be marketed as available space that is ready for an immediate user to the market place. ➢ $7,800,000 investment in new building construction ➢ Total project taxes during ten year abatement period — $2,402,391 ➢ Estimated taxes being abated during ten year abatement period — $850,138 ➢ Total taxes to be paid during ten year abatement period — $1,552,253 EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will: ➢ Create (15) fifteen, permanent full -time and zero (0) permanent, part-time jobs during the ten year abatement period, representing a new annual payroll of $468,000. PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES JITIN KAIN PAMELA C. MEYER CHRIS FIELDING BROCK ZEEB