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227 W. JE FmsoN BouLEvARD <br />SUITE 1400 S. <br />SouTH BEND, IN 46601 -1830 <br />March 3, 2016 <br />CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR <br />COMMUNITY INVESTMENT <br />SCOTT FORD, EXECUTIVE DIRECTOR <br />Council Member Gavin Ferlic, Chairperson <br />Community Investment Committee <br />South Bend Common Council <br />4th Floor, County City Building <br />South Bend, IN 46601 <br />PHONE: 574/2354371 <br />Faux: 574/235 -9021 <br />RE: Real Property Tax Abatement Extension for: The LaSalle Apartments, LLC <br />Dear Council Member Ferlic: <br />On March 10, 2014, Great Lakes Capital Development was granted declaratory resolution <br />number 4327 -14 for a 10 year real property tax abatement for work to be completed at The <br />LaSalle Hotel. Confirming resolution number 4330 -14 was passed on March 24, 2014. <br />The project never materialized and RealAmerica Development, LLC, operating as The <br />LaSalle Apartments, LLC, purchased the property and began revitalization work to the <br />building. On January 21, 2015, Real America Development, LLC was granted the transfer <br />of the original abatement. Per Section V of the original resolution #4327 -14: `The <br />designation as an Economic Revitalization Area shall be limited to two (2) calendar <br />years from the date of the adoption of this Resolution by the Common Council." <br />Due to the transfer of the original abatement, the work will not be completed during the <br />two year window, as noted above. The project is currently scheduled to be completed in <br />September 2016. We kindly request a one (1) year extension be granted, enabling the work <br />to be completed and for the abatement to remain active. <br />A representative from Real America Development LLC will be available to meet with the <br />Committee on March 14, 2016. <br />Should you or any of the other Council members have any questions concerning the report, <br />or need additional information, please feel free to call me at 235 -5823. <br />Sincerely, <br />Aaron Kobb <br />Director Economic Resources <br />Filed in Clerk's Office <br />MAR 0 9 2016 <br />KAREEMAH FOWLER <br />1Z <br />