HomeMy WebLinkAbout17-11 Confirming a six (6) year real property tax abatement for Hibberd Development, LLC227 W. JEFFERSON BOULEVARD
SUITE 1400 S.
SOUTH BEND, IN 46601 -1830
February 22, 2017
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
COMMUNITY INVESTMENT
Council Member Gavin Ferlic, Chairperson
Community Investment Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601
PHONE: 574/235 -9371
FAx: 574/235 -9021
Filed in Clerk's Office
FEB 2 2 2017
KAREEMAH FOWLER
CITY CLERK, SOUTH BEND, IN
RE: Real Property Tax Abatement Petition for: Hibberd Development, LLC
Dear Council Member Ferlic:
Please find the attached information pertaining to a real property tax abatement petition
for Hibberd Development, LLC:
➢ Department of Community Investment's summary report
➢ Copy of the petition
➢ Statement of Benefits form
➢ Supporting information.
The report contains the Department's findings relative to the above petition. The total
cost for the project is estimated at $5,250,000. The project meets the qualifications for a
(6) six year real property tax abatement. As discussed with Council, DCI's ability to
flexibly approach projects has led staff to conclude that a 5 (five) year abatement best
meets the needs of both the developer and the City. A representative from Hibberd
Development, LLC will be available to meet with the Committee on Monday, February
27, 2017.
Should you or any of the other Council members have any questions concerning the
report, or need additional information, please feel free to call me at 235 -5823.
Sincerely,
Aaron Kobb
Director of Economic Resources
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
TIM CORCORAN PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB
TAX ABATEMENT REPORT
TO: SOUTH BEND COMMON COUNCIL
FROM: AARON KOBB
SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR:
Hibberd Development, LLC
DATE: February 22, 2017
On Wednesday February 22, 2017, a petition from Hibberd Development, LLC was
received and subsequently filed with the City Clerk for real property tax abatement
consideration for property to be located at 321 South Main Street, South Bend, IN 46601.
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
➢ Redevelopment of an abandoned downtown building to be converted into a mixed
use development containing office, retail, and residential spaces including a street
level green space and rooftop amenity, both of which will be open to the public.
➢ $5,250,000 private investment
➢ Total project taxes during the five year abatement period — $472,500
➢ Estimated taxes being abated during the five year abatement period — $472,500
➢ Total taxes to be paid during the five year abatement period — $0
➢ Annual tax generation beginning after five year abatement period - $94,500
EMPLOYMENT IMPACT
Per the petition, it is estimated that the total project will:
➢ Create (32) thirty two permanent full -time jobs, representing an approximate new
annual payroll of $1,397,760.
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
TIM CORCORAN PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted finds that the petitioner has
been granted or associated with previous abatements and were deemed to be in
compliance.
2. The Building Commissioner has reviewed the petition and finds the property to be
properly zoned for the proposed project or a variance will be sought by the
petitioner.
3. A review of the South Bend Redevelopment designation areas finds that the
property is located in the River West Development Area.
4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner
meets the qualifications for a (6) six -year real property tax abatement under section
2 -84.2, Real Property Tax Abatement. As discussed with Council, DCI's ability to
flexibly approach projects has led staff to conclude that a 5 (five) year abatement
best meets the needs of both the developer and the City.
RESOLUTION NO.
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
321 South Main Street, South Bend, IN 46601
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A
(5) FIVE YEAR REAL PROPERTY TAX ABATEMENT FOR
Hibberd Development, LLC
WHEREAS, a petition for real property tax abatement consideration has been filed with
the City Clerk for consideration by the Common Council of the City of South Bend, Indiana,
requesting that the area commonly known as 321 South Main Street, South Bend, IN 46601 and
which is more particularly described as:
018 - 3008 -0263
LOT 274 EX 22'X90' NE COR O P SOUTH BEND
018 - 3008 -0264
LOT 275 34'N SIDE O P SO BEND
and which has Key Numbers 018 - 3008 -0263 and 018 - 3008 -0264 be designated as an Economic
Revitalization Area under the provisions of Indiana Code 6 -1.1 -12.1 et sec., and South Bend
Municipal Code Sections 2 -76 et seq., and;
WHEREAS, petitioner has agreed to and has accepted responsibility to report any changes
in the final legal description and to report the final, appropriate Key Number to the Department of
Community Investment and to the Office of the City Clerk; and
WHEREAS, the Department of Community Investment has concluded an investigation and
prepared a report with information sufficient for the Common Council to determine that the area
qualifies as an Economic Revitalization Area under Indiana Code 6 -1.1 -12.1, et s�Mc., and South
Bend Municipal Code Sections 2 -76, et secs., and has further prepared maps and plats showing the
boundaries and such other information regarding the area in question as required by law; and
WHEREAS, the Community Investment Committee of the Common Council has reviewed
said report and recommended to the Common Council that the area qualifies as an Economic
Revitalization Area.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby determines and finds that the Petition for Real Property
Tax Abatement and the Statement of Benefits form completed by the Petitioner meet the
requirements of Indiana Code § 6 -1.1 -12.1 et seq., for tax abatement.
SECTION II. The Common Council hereby determines and finds the following:
A. That the description of the proposed redevelopment or rehabilitation meets the
applicable standards for such development;
B. That the estimate of the value of the redevelopment or rehabilitation is reasonable
for projects of this nature;
C. That the estimate of the number of individuals who will be employed or whose
employment will be retained by the Petitioner can reasonably be expected to result from the
proposed described redevelopment or rehabilitation;
D. That the estimate of the annual salaries of those individuals who will be employed
or whose employment will be retained by the Petitioner can be reasonably expected to result from
the proposed redevelopment or rehabilitation;
E. That the other benefits about which information was requested are benefits that can
be reasonably expected to result from the proposed described redevelopment or rehabilitation; and
F. That the totality of benefits is sufficient to justify the requested deduction, all of
which satisfy the requirements of Indiana Code § 6- 1.1- 12.1 -3.
SECTION III. The Common Council hereby determines and finds that the proposed described
redevelopment or rehabilitation can be reasonably expected to yield benefits identified in the
Statement of Benefits, Sections 1 through 3 of the Petition for Real Property Tax Abatement
Consideration and the Memorandum of Agreement between the Petitioner and the City of South
Bend, and that the Statement of Benefits form completed by the petitioner, said form being
prescribed by the State Board of Accounts, are sufficient to justify the deduction granted under
Indiana Code § 6 -1.1- 12.1 -3.
SECTION IV. The Common Council hereby accepts the report and recommendation of the
Community Investment Committee that the area herein described be designated as an Economic
Revitalization Area and hereby adopts a Resolution designating this area as an Economic
Revitalization Area for purposes of real property tax abatement.
SECTION V. The designation as an Economic Revitalization Area shall be limited to (2) two
calendar years from the date of the adoption of this Resolution by the Common Council.
SECTION VI. The Common Council hereby determines pursuant to Indiana Code 6 -1.1- 12.1 -17
that the property owner is qualified for and is granted property tax deduction for a period of (5)
five years as provided in the following abatement schedule:
Year Real Property Abatement
1 100%
2 100%
3 100%
4 100%
5 100%
SECTION VII. The Common Council directs the City Clerk to cause notice of the adoption of
this Declaratory Resolution for Real Property Tax Abatement to be published pursuant to Indiana
Code § 5 -3 -1 and Indiana Code § 6- 1.1- 12.1 -2.5, said publication providing notice of the public
hearing before the Common Council on the proposed confirming of said declaration.
SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approval by the Mayor.
Member of the Common Council
IRESENTM
3
NOT APPRO)ft
4DOPTED
Filed in Clerk's Office
FEB 2 2 2017
KAREEMAH FOWLER
CITY CLERK, SOUTH BEND, IN
RESOLUTION NO.
A RESOLUTION CONFIRMING THE ADOPTION OF A
DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS
321 South Main Street, South Bend, IN 46601
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A (5) FIVE YEAR REAL
PROPERTY TAX ABATEMENT FOR
Hibberd Development, LLC
WHEREAS, the Common Council of the City of South Bend, Indiana, has
adopted a Declaratory Resolution designating certain areas within the City as Economic
Revitalization Areas for the purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known as
321 South Main Street, South Bend, IN 46601 and which is more particularly described
as follows:
018 - 3008 -0263
LOT 274 EX 22'X90' NE COR O P SOUTH BEND
018 - 3008 -0264
LOT 275 34'N SIDE O P SO BEND
and which has Key Numbers 018 - 300 -0263 and 018 - 3008 -0264 be designated as an
Economic Revitalization Area; and
WHEREAS, notice of the adoption of a Declaratory Resolution and the public
hearing before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5;
and
WHEREAS, the Council held a public hearing for the purposes of hearing all
remonstrances and objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic
revitalization area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
South Bend, Indiana, as follows:
SECTION 1. The Common Council hereby confirms its Declaratory Resolution
designating the area described herein as an Economic Revitalization Area for the
purposes of tax abatement. Such designation is for Real Property tax abatement only and
is limited to (2) two calendar years from the date of adoption of the Declaratory
Resolution by the Common Council.
SECTION 11. The Common Council hereby determines that the property owner is
qualified for and is granted real property tax deduction for up to a period of five (5) years
as provided in the abatement schedule below pursuant to Indiana Code 6 -1.1- 12.1 -17 and
further determines that the petition, the Memorandum of Agreement between the
Petitioner and the City of South Bend, and the Statement of Benefits comply with
Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code
6- 1.1 -12 et seq.
Real Property
Year Abatement
1 100%
2 100%
3 100%
4 100%
5 100%
SECTION III. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approved by the Mayor.
PRE5EN7ED
401 APPR0 ,41C
J,DoP -rFi'
Member of the Common Council
Filed in Clerk's 'Office
FEB 2 2 2017
KAREEMAH FOWLER
CITY CLERK, SOUTH BEND. IN
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Cit ✓ pi South og th Ben
1:JDl III Nf,I
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Petition for Incentives
i
Petition must include a $250 filing fee payable to the City Clerk's Office or online via the City's website at
u c
http://southbendin.gov/ government /content /tax- abatement before processing can be complete
TBD
General Information
Project Name Project Number
Legal name as registered with Secretary of
State
Hibberd Development, LLC
Business structure
Limited Liability Company
Company website
N/A
Proposed Project Information
Proposed project address
321 South Main Street
Parent company name
N/A
City, State, Zip
South Bend, Indiana 46601
Legal owner
Individual Members
Site acreage or acreage required
...0.34 Acre
Is the real estate owned or
Owned
Square feet of facility
--33, 600sf
If leased by whom
N/A
Primary Contact Information
Primary company contact name
Mark Neal
Title
Manager
Address of company contact
1329 East Washington Street
Phone
574- 339 -9406
City, State, Zip
South Bend, Indiana 46617
Email
kmneal @aol.com
Senior Official Information
Filed in Clerk's Off 1
Company senior official name
Same as above
Title
Address of company contact (if different from
Phone
= Fg 2 2 201 E
above
City, State, Zip
Email
Consultant Information /Agent
KAREL~
Hired business consultant /agent name
N/A
Consultant release (Y /N)
SOUTH
Address
Local economic development partners
approval (Y N
City, State, Zip
Email
Project Overview
Brief description of your
company, project, and why the
Hibberd Development, LLC is a single purpose business committed to the
property is necessary for
site redevelopment of an abandoned printing manufacturing company built
economic growth
in 1926 by John and Carl Hibberd, Sr. city businessmen, statesmen and
local philanthropists. The building is situated on Main St. in the heart of
downtown South Bend directly across from the main branch of the St.
Joseph County Public Library. The building will be converted into a mixed
use development containing office, retail and residential spaces including a
street level green space and rooftop amenity both of which will be open to
the public. The site is an essential component to the revitalization of the
city's Renaissance Center and nearby Four Winds Field connecting vibrant
street level economic development activity to the central downtown.
Certified Technology Park appropriate
N/A
Is the project in a Tax Incremental Financing
Yes, River West
TI are � If o wnich�
Certify that the Building Permit has not been
veS
Number of residential units created by
14
i u N
oroect
Ifthis is a petition for personal property tax abatement, has
N/A
the equipment been installed
Investment Details
Public Infrastructure needs (Off-
site of project in dollars)
Has any 504 funding been
received?
What is the value of any equipment being purchased in
Indiana for the project?
What is the value of any equipment being
purchased from out of state for the project?
No
No
TBD
TBD
Je
i
ID, IN
New Project Investments
Calendar Year
Land Acquisition
Building Lease Payments
Building Purchase Costs
New Building Construction
Existing Building Improvements
New Machinery & Equipment
Special Tooling /Retooling
New Furniture /Fixtures
New Computer /IT Hardware
New software
On -site Rail Infrastructure
On -site Fiber Infrastructure
2016
2017
2018
2019
2020
2021
2022
2023
2017 N/A
zmR 32
21
2019 32
21
2020 32
$ 240,000
2021 32
21
2022 32
21
2023 32
21
2024 32
21
zozs 32 21
2026 32 21
zoz? 32 21
Provide hourly wage information for new employees in the following positions.
Full time
$ 3,750,000
$ 1,500,000
-
11
Technical
34
Managerial
31
Administrative
12
W o wi et em iw ua respo sibleforcoor inatmg wit
WorkOne on recruiting?
N/A
Does your company have an EEO hiring policy?
Yes
Are you an EEO employer?
Yes
Please list the number of full time and part time minority and /or female employees for each of
the last three years:
Please describe your commitment to
diversity and inclusion by detailing your
outreach and recruitment efforts for the last
three years as well as current policies.
Year
N/A
N/A
N/A
Full Time
Part Time
Full Time
Part Time
Full Time
Part Time
Black
Seek to hire a diverse
workforce reflective of
our community and
adhering to EEO laws.
Hispanic
Asian
Indian
Female
TOTAL
$ 240,000
53750,00000
s tsoo,oeo.00
Other
Full -Time Permanent Indiana- Resident Positions by Calendar Year
Calendar Year Jobs retained
Total hourly
wage w/o
fringe or
bonuses
Cumulative 1: of net NEW full time
permanentjobs created at project
Hourly average wage, w/o
benefits or bonuses, of
cumulative net newjabs
Total training
expenditure-
not
cumulative
Total B to be
trained - not
cumulative
2016
2017 N/A
zmR 32
21
2019 32
21
2020 32
21
2021 32
21
2022 32
21
2023 32
21
2024 32
21
zozs 32 21
2026 32 21
zoz? 32 21
Provide hourly wage information for new employees in the following positions.
Full time
Part time
Laborers
-
11
Technical
34
Managerial
31
Administrative
12
W o wi et em iw ua respo sibleforcoor inatmg wit
WorkOne on recruiting?
N/A
Does your company have an EEO hiring policy?
Yes
Are you an EEO employer?
Yes
Please list the number of full time and part time minority and /or female employees for each of
the last three years:
Please describe your commitment to
diversity and inclusion by detailing your
outreach and recruitment efforts for the last
three years as well as current policies.
Year
N/A
N/A
N/A
Full Time
Part Time
Full Time
Part Time
Full Time
Part Time
Black
Seek to hire a diverse
workforce reflective of
our community and
adhering to EEO laws.
Hispanic
Asian
Indian
Female
Other
Complete below for Real or Personal Property Tax Abatement only.
Please sign for all requested incentives.
Public Benefit Item:
Information is required on both the construction companies and the
companies which will provide materials purchased for this project.
Please complete the table below with the appropriate information. if
you qualify for the points, please enter the full amount of available
points.
Qualify (Yes or No)
Earned Points
Available Points
1
Construction Related (Contractors):
A.
Employ Local Companies (75 %)
Yes
20
20
B.
Purchase Materials from Local Companies (75 %)
Yes
20
20
C.
Require Employees vs. Independent Contractors
Yes
19
19
D.
Require Prevailing Wage (Davis Bacon)
No
22
E.
Require Health Benefits
Yes
22
22
F.
Require Pension Benefits
No
18
G.
Maintain Affirmative Action Plan
Yes
20
20
Sub -total Construction Related:
101
141
2
Wage & Benefit Related (Owners:
A.
Pay Target Wage Levels
Yes
33
33
B.
Provide Health Benefits
Yes
34
34
C.
Provide Pension Benefits
No
29
D.
Provide Training
Yes
28
28
E.
Provide Child Care
No
Is
F.
Provide Transportation Assistance
Yes
14
14
G.
Provide Employer Assisted Housing program
No
9
Sub -total Wage & Benefit Related:
109
162
3
Workforce Related:
A.
Create New lobs
Yes
42
42
B.
Retain Existing Jobs
N/A
41
C.
Maintain Affirmative Action Plan
Yes
35
35
D.
Provide Targeted Hiring Preference
Yes
34
34
Sub -total Workforce Related:
111
152
4
Support a Municipal Facility:
A
Support a SB Municipal Facility (donations to the
zoo, conservatory, museum, etc.)
YES
84
84
Name of Facility
sub -total Municipal Facility:
ern
84
5ub -total from Above:
405
539
The undersigned owner(s) of real property, located within the City of South Bend, herby petition the Common Council of the City
Of 50Uth bend for a real and /or personal property tax abatement consideration and pursuant to I.C., 6- 1.1- 12.1 -1, et seq., and
South Bend Municipal Code Sec. 2 -76 et se g. for this petition state the above.
I Submitted Bv: I /l /�_' - -E—' I Date: I -z- (j l
For Staff Use Only Below This Line
What is the current assessed value?
Real Property:
/g�P �'.,7C l0� —
r
t!fsonal Property:
What is the projected assessed value?
Real Property:
Personal Property:
What is the tax key number for this project?
2
TO/ 9- 300- _Oa6, 3; 0/8 ^3000 p —006 el
What is the six digit NAIC5 code?
Please attach a Googie map and street view of the location.
Please list the amount of real and personal property taxes
paid for the last five years when applicable.
Real Property Taxes:
Personal Property Taxes:
Year One
69S/ ' 3'370
YearTwo
57007', -537G
Year Three
l r,-, ; x333
Year Four
(�r a 3 S) 3 30
Year Five
9d57 -563
Please fill out the following Public Benefit Summary Information and add to total from above.
Y or _NJ
Points
Points
Public Benefit Item:
Project Related:
5
A.
Redevelop a Site that has Special Needs
49
B.
Develop Based on Local University Research
35
C.
Achieve a Physical Element of a Plan
36
Sub -total Project Related:
—
120
6
Super Size Projects (point values are cumulativel:
A.
10055 to 199%
25
B.
20091 to 299%
68
C.
300% to 399%
65
D.
4009/ and Over
52
ISub-total
Super Size Projects:
210
7
Pay for Municipal Infrastructure:
A.
Pay for Oversizing or Upgrading
14
G.
Pay for 26 -50% of Extension Cost
26
C.
Pay for 51 -75% of Extension Cost
I
39
D.
Pay for 76-100% of Extension Cost
52
Sub -total Infrastructure Related:
131
Total from Applicant Section:
yQS
539
Total from Staff Section:
3(0
461
Total Public Benefit Points:
yy�
1000
Filed in Clerk's Office
l
STATEMENT OF BENEFITS FFR 2 P 2117
s�f REAL ESTATE IMPROVEMENTS
.�- State Form 51767 (R6/10-14) i(AREEMAH FOWLER
a . Prescribed by the Department of Local Government Finana CI TY CLERK(, SOUTH BEND, IN
This statement is being completed for real property that qualifies under the rerns-ecde 1cherk One box).
® Redevelopment or rehabilitation of real estate improvements (IC 6- 1.1- 12.111)
❑Residentiallydistressed area (IC 6- 1.1- 12.111.1)
20_ PAY 20_
FORM SB -1 / Real Property
PRIVACY NOTICE
Any information concerning the cost
of the property and speck salaries
paid to individual employees by the
Pmp!rty owner is confidential per
INSTRUCTIONS:
IC 6 -1.1- 12.1 -5.1.
1. This statement must be submitted to the bodydesignating the Economic Revitalization Area priorto the public hearing if the designating body requires
information from the applicant in making its decision about whether to designate an Economic Revitalization Area. Otherwise, this statement must be
submitted to the designating body BEFORE the redevelopment or rehabilitation ofreal propertyfor which the person wishes to claim a deduction.
2. The statement ofbenefits form must be submitted to the designating body and the area designated an economic revitalization area before the initiation of
the redevelopment or rehabilitation for which the person desires to claim a deduction.
3. To obtain a deduction, a Form 3221RE must be filed with the County Auditor before May 10 in the year in which the addition to assessed valuation is
made or not later than thirty (30) days after the assessment notice is mailed to the property owner if it was mailed afterApril 10. A property owner who
failed to file a deduction application within the prescribed deadline may file an application between March 1 and May 10 of a subsequent year.
4. A property owner who files for the deduction must provide the County Auditor and designating body with a Form CF -1 /Real property The Form CF- 1/Real
Property should be attached to the Form 3221RE when the deduction is first claimed and then updated annually far each year the deduction is applicable.
iC 6 -1.1- 12.1- 5.1(b)
5. For a Form SB- 1/Real Property that is approved after June 30, 2013, the designating body is required to establish an abatement schedule for each
deduction allowed. For a Form SB-1 /Real Property that is approved prior to July 1, 2013, the abatement schedule approved by the designating body
remains in effect, IC 15-1.1-12.1-17
Name of taxpayer
Hibberd Development, LLC
Address of taxpayer (number and street, city, state, and ZIP code)
1329 East Washington Street, South Bend, IN 46601
Name of contact person
Telephone number E -mail address
Mark Neal
( 574)339-9406 kmneal @aol -com
SECTION 2 LOCATION AND DESCRIPTION
Name of designating body
OF PROPOSED PROJECT
Resolution number
Local on of property
County DLGF taxing district number
321 - 325 South Main Street: South Bend, IN 46601
St. Joseph
Description of real property improvements, redevelopment, or rehabilitation (use additional sheets ifnecessary) Estimated start date (month, day, year)
Development
105/01/2017
Estimated completion date (month, day, year)
0
Current number Salaries Number retained
Salaries Number additional Salaries
0 N/A
N/A 32 $42,906 avg
SECTION . TOTAL COSTAND
VALUE OF • . • s ► PROJECT
REAL ESTATE IMPROVEMENTS
COST I ASSESSED VALUE
Current values 1$240,000
IS 197.700
Plus estimated values ofproposed project I$5,250,000
IS1 150000
Less values of any property being replaced I-
I-
Net estimated values upon completion of project l$5,490,000
$3,347,700
SECTION D OTHER
Estimated solid waste converted (pounds) N/A
BENEFITS PROMISED :
Estimated hazardous waste converted (pounds) N/A
Other benefits
$ECTION 6 CERTIFICATION
I hereby certify that the representations in this statement are true.
Signature of authorized representative t
Date signed month, day, year)
I —L-
Printed name of authorized representative 1 f
Title Aj
Deno d of 9 �
FOR USE.QF
We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution, passed or to be passed
under IC 6 -1.1 -12.1, provides for the following limitations:
A. The designated area has been limited to a period of time not to exceed calendar years' (see below). The date this designation
expires is
B. The type of deduction that is allowed in the designated area is limited to:
1. Redevelopment or rehabilitation of real estate improvements ❑ Yes ❑ No
2. Residentially distressed areas ❑ Yes ❑ No
C. The amount of the deduction applicable is limited to $
D. Other limitations or conditions (specify)
E. Number of years allowed: ❑ Year 1 ❑ Year 2 ❑ Year 3 ❑ Year 4 ❑ Year 5 ('see below)
❑ Year 6 ❑ Year 7 ❑ Year 8 ❑ Year 9 ❑ Year 10
F For a statement of benefits approved after June 30, 2013, did this designating body adopt an abatement schedule per IC 6 -1.1 -12.1 -177
❑ Yes ❑ No
If yes, attach a copy of the abatement schedule to this form.
If no, the designating body is required to establish an abatement schedule before the deduction can be determined.
We have also reviewed the information contained in the statement of benefits and find that the estimates and expectations are reasonable and have
determined that the totality of benefits is sufficient to justify the deduction described above.
Approved (signature and title of authorized member of designating body)
Telephone number 7F77n_ed
(monfh, day, year)
Printed name of authorized member of designating body
Name of designating body
Attested by (signature and title of attester)
Printed name of attester
If the designating body limits the time period during which an area is an economic revitalization area, that limitation does not limit the length of time a
taxpayer is entitled to receive a deduction to a number of years that is less than the number of years designated under IC 6- 1.1- 12.1 -17.
A. For residentially distressed areas where the Form SB -1 /Real Property was approved prior to July 1, 2013, the deductions established in IC
6 -1.1- 12.1 -4.1 remain in effect. The deduction period may not exceed five (5) years. For a Form SB -1 /Real Property that is approved after June 30,
2013, the designating body is required to establish an abatement schedule for each deduction allowed. The deduction period may not exceed ten
(10) years. (See IC 6- 1.1- 12.1 -17 below.)
B. For the redevelopment or rehabilitation of real property where the Form SB -1 /Real Property was approved prior to July 1, 2013, the abatement
schedule approved by the designating body remains in effect. For a Form SB -1 /Real Property that is approved after June 30, 2013, the designating
body is required to establish an abatement schedule for each deduction allowed. (See IC 6 -1.1- 12.1 -17 below.)
IC 6 -1.1- 12.1 -17
Abatement schedules
Sec. 17. (a) A designating body may provide to a business that is established in or relocated to a revitalization area and that receives a deduction under
section 4 or 4.5 of this chapter an abatement schedule based on the following factors:
(1) The total amount of the taxpayer's investment in real and personal property.
(2) The number of new full -time equivalent jobs created.
(3) The average wage of the new employees compared to the state minimum wage.
(4) The infrastructure requirements for the taxpayer's investment.
(b) This subsection applies to a statement of benefits approved after June 30, 2013. A designating body shall establish an abatement schedule
for each deduction allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of
the deduction. An abatement schedule may not exceed ten (10) years.
(c) An abatement schedule approved for a particular taxpayer before July 1, 2013, remains in effect until the abatement schedule expires under
the terms of the resolution approving the taxpayer's statement of benefits.
Panr ? of 9
2/22/2017
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Filed in Clerk's Office
FEB 2 2 2017
KAREEMAH FOWLER
.CITY CLERK SOUTH BEND, IN
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