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HomeMy WebLinkAbout4679-17 Modifying an existing Tax Abatement for GLC Portage Prairie II, LLC RESOLUTION No. 4679-17 Passed by the Common Council of the City of South Bend, Indiana October 23, 20-17— Attest: City Clerk IV Attest President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana October 24, 20 17 City Clerk Approved and signed by me r11J 20 MW RESOLUTION NO. q L,. Cl 1'7 A RESOLUTION SUPERSEDING A CONFIRMATORY RESOLUTION AND MODIFYING AND CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING A CERTAIN AREA WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 23464 Adams Road, South Bend, IN 46628 AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A REAL PROPERTY TAX ABATEMENT FOR GLC PORTAGE PRAIRIE II, LLC WHEREAS, on January 9, 2017, the Common Council (the "Common Council") of the City of South Bend, Indiana (the "City"), adopted Resolution No. 4607-17 (the "Declaratory Resolution") designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, the Declaratory Resolution designated the area commonly known as 23464 Adams Road, South Bend, IN 46628 (the "Property") which is more particularly described as follows: Lot 1 of the recorded plat of Portage Prairie Minor #8, recorded on March 2, 2017, as Document No. 1704972 in the Office of the Recorder of St. Joseph County, Indiana. and which has Key Number 025-1009-014608, be designated as an Economic Revitalization Area; and WHEREAS, on February 13, 2017, the Common Council adopted Resolution No. 4610-17(the"Confirmatory Resolution")confirming the Declaratory Resolution following a public hearing advertised and conducted pursuant to Indiana Code 6-1.1-12.1-2.5; and WHEREAS, on October 23, 2017, the Common Council conducted a public hearing for the purpose of hearing all remonstrances and objections from interested persons concerning the proposed amendment of the tax abatement schedule that the Common Council approved on January 9,2017,under the Declaratory Resolution and confirmed on February 13, 2017, under the Confirmatory Resolution; and 1 WHEREAS,the Council has determined to supersede the Confirmatory Resolution and to modify and confirm the Declaratory Resolution by adopting an amended tax abatement schedule with respect to the Property. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Confirmatory Resolution is hereby superseded by this Resolution. SECTION II. The Common Council hereby modifies and confirms the Declaratory Resolution designating the Property as an Economic Revitalization Area for the purposes of tax abatement. Such designation is for real property tax abatement only and is limited to two (2) calendar years from the date of adoption of the Declaratory Resolution. SECTION III. The real property description and Key Number contained in the Declaratory Resolution are hereby deleted and replaced by the description of the Property and Key Number contained in this Resolution. No real property included in the real property description set forth in the Declaratory Resolution but excluded from the description of the Property stated in this Resolution will be designated as an Economic Revitalization Area or will be otherwise subject to the tax abatement confirmed by this Resolution. SECTION IV. Each reference to "GLC SBDC II, LLC" contained in the Declaratory Resolution is deleted and replaced by"GLC Portage Prairie, LLC." SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted a real property tax deduction for the Property for a period of six (6)years, as shown by the amended tax abatement schedule attached hereto as Exhibit A,pursuant to Indiana Code 6-1.1-12.1-17 and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12.1. SECTION VI. All of the Common Council's findings and determinations under the Declaratory Resolution remain in full force and effect unless expressly modified by this Resolution. SECTION VII. Upon the Common Council's adoption of this Resolution, the Common Council will execute a Memorandum of Agreement (the "Updated MOA") reflecting the amended tax abatement schedule, which Updated MOA will supersede and replace the Memorandum of Agreement dated February 13, 2017. SECTION VIII. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. Filed in Cle k's Office f Member of the Co on PA!SENTEU I0i 13l`, OCT 19 2017 NOT APPR"',/-, 2 KAREEMAH FOWLER CRY CLERK SOUTH BEND,IN Exhibit A Tax Abatement Schedule [See attached.] m o a o 0 0 0 0 0 0 0 0 o �0000 0 0 0 0 0 0 � 0OOO 0 0 0 0 C }oOaa0000 o° v a °' °' F-P m co n co N c�co co �a IOOOOO o 000 000 X. II F° o° yl C o oo_0O o0 0 0 0O C ! 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U Tx B Fi9ed in �i .r`s 8, }:� kce " d CCT 99 2017 w y PEACE � � u^�^ x x KAREEMAF7 FOWLER is65 Orr CLERK,SOUTH BEND,IN CITY OF SOUTH BEND COMMUNITY INVESTMENT October 19,2017 Mr.Tim Scott, President South Bend Common Council 4th Floor City-County Building South Bend, IN 46601 RE:Substitute resolution and Memorandum of Understanding regarding Tax Abatement for 23464 Adams Rd. (the"Property") Dear President Scott: On October 9, 2017,the Common Council adopted Resolution No.4678-17 directing the City Clerk to give notice of a public hearing on a proposed resolution(the"Proposed Resolution"),which would modify the Common Council's Resolution No.4607-17,dated January 9, 2017,declaring a 9-year tax abatement for the Property. The Proposed Resolution would replace the original 9-year tax abatement schedule with a more aggressive 6-year tax abatement schedule. Enclosed for the Council's consideration on October 23,2017,is a substitute version of the Proposed Resolution,along with an associated Memorandum of Agreement to be executed in the event the Common Council adopts the Proposed Resolution. This substitute version corrects errors in the property description and the corporate entity name of Great Lakes Capital company responsible for this project appearing in the originally filed version of the Proposed Resolution. Again,the Department of Community Investment appreciates the Council's support on this project which will bring a critically important piece of commercial real estate inventory to the City of South Bend—and subsequently bring a new business entrant and accompanying jobs, investment and eventual tax revenue. Both I and Jeff Smoke of Great Lakes Capital will attend the Community Investment Committee and Council meetings on October 23, 2017 to address any questions. Thank you, Sincerely, Daniel . Buckenmeyer Director of Business Development Department of Community Investment EXCELLENCE I ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 1400S County-City Building 1 227 W.Jefferson Bvld.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov