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HomeMy WebLinkAbout18-32 Confirming Multifamily Real Property Tax Abatement: Historic Lincoln Way West Homes (Bewery) L.P. LF c,e CITY IaeS © I M CITY OF SOUTHBEND COMMUNITY INVESTMENT ,JAMES MUELLER, EXECUTIVE DIRECTOR July 2,2018 Council Member Gavin Ferlic,Chairperson Community Investment Committee South Bend Common Council 4th Floor, County City Building South Bend,IN 46601 RE:Multifamily Real Property Tax Abatement Petition for: Historic Lincoln Way West Homes,L.P. Dear Council Member Ferlic: Please find the attached information pertaining to a real property tax abatement petition submitted by Lincoln Way West Homes,L.P.to renovate a former brewery building located at 1636 Lincoln Way West Street, South Bend. The building will be converted to a residential structure with 22 apartments and common spaces for resident use.This petition package includes: ➢ Department of Community Investment's summary report ➢ Petition ➢ Statement of Benefits form ➢ Supporting information. The report contains the Department's findings relative to the above petition. The petitioner proposes to renovate the building with estimated cost of$6,404,000. The project meets the qualifications for a(10) ten-year multifamily property tax abatement and a representative from Historic Lincoln Way West Homes, L.P.will be available to meet with the Committee on Monday,July 9,2018. 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. Since el , Danie Buckenmeyer Director Business Development DANIELJ.BUCKENxIEYER ALKEYNA ALDRIDGE PAMELA MEYER TAI CORCORAN BUSINESS DEVELOPMENT ENGAGEMEN r&ECONOMIC Dapo ERMENT NEIGHBORHOOD DEVELOPMENT PLANNING&COM,b[UNrrY RESOuRCES EXCELLENCE i ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT 1400S County-City Building i 227 W.Jefferson Blvd.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov I y Filed in Clerk's pace d4 0 32018 BILL NO. 18-32 KAREEMAM FOWLER RESOLUTION NO. CITYCLERK,SOUTH BENp, IN A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS SOUTH BEND BREWERY PLACE AS AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR Historic Lincoln Way West Homes, LP 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 1636 Lincoln Way West, South Bend, IN 46628 and which is more particularly described as follows: A part of the North Half of the Northeast Quarter of the Southeast Quarter of Section 3, Township 37 North, Range 2 East, now within and a part of the City of South Bend, which part is bounded by a line running as follows: Beginning at the intersection of the East line of College Street with the Southerly line of Lincolnway West (formerly Michigan Avenue) in the City of South Bend, thence running South 67 1/2 degrees East with the Southerly line of Lincolnway West, a distance of 411.6 feet, more or less to the Northwest corner of a tract of land formerly owned by Herman Huffman; thence South parallel with the East line of said Section 3 to the North line of Rupel Street; thence West with the North line of Rupel Street to the intersection of said North line of Rupel Street with the East line of College Street; thence North with said East line of College Street, to the place of beginning, excepting therefrom the right of way across said tract occupied by the Indiana, Illinois and Iowa Railway Company, a branch of the New York Central Lines, and excepting therefrom the following described tract: Beginning at the intersection of the South line of Lincolnway West (formerly Michigan Avenue) with the East line of the right of way of the Indiana, Illinois and Iowa Railway Company, a branch of the New York Central lines, which point is 329.3 feet South 67 1/2 degrees East of the point of intersection of the East line of College Street with the Southerly line of Lincolnway West, thence running South 67 1/2 degrees East with the Southerly line of said Lincolnway West a distance of 81.4 feet, more or less, to the Northwest corner of a tract of land conveyed to Herman Hoffman by Jonathan P. Creed and Lucretia M. Creed, by deed dated December 2, 1896 and recorded in Deed Record 102, pages 560-1, Recorder's Office of St. Joseph County, Indiana; thence South parallel with the East line of said Section 3, 173.2 feet, more or less to the North line of Rupel Street, thence West along the North line of Rupe 1 Street 215.29 feet, more or less to the East line of said right of way of Indiana, Illinois and Iowa Railway Company, thence Northeasterly along the Easterly line of said right of way 247 feet, more or less, to the place of beginning. and which has Key Numbers 18-2018-0536 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 I. 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 three (3) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION Il. The Common Council hereby determines that the property owner is qualified for and is granted a real property tax deduction for a period of(10) ten years as shown below 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. Year 1 — 100% Year 2 - 100% Year 3 - 100% Year 4— 100% Year 5— 100% Year 6—95% Year 7—95% Year 8 —95% Year 9—90% Year 10—90% 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. Tim Scott, Council President South Bend Common Council Filed in Clerk's Office JUL 0 3 20113 BILL NO. 18-30 KAREEMAH FOWLER RESOLUTION NO. CITY CLERK,SOUTH BEND,IN 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 SOUTH BEND BREWERY PLACE AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY TAX ABATEMENT FOR Historic Lincoln Way West Homes, LP 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 1636 Lincoln Way West, South Bend, IN 46628 and which is more particularly described as: A part of the North Half of the Northeast Quarter of the Southeast Quarter of Section 3, Township 37 North, Range 2 East, now within and a part of the City of South Bend, which part is bounded by a line running as follows: Beginning at the intersection of the East line of College Street with the Southerly line of Lincolnway West (formerly Michigan Avenue) in the City of South Bend, thence running South 67 1/2 degrees East with the Southerly line of Lincolnway West, a distance of 411.6 feet, more or less to the - Northwest corner of a tract of land formerly owned by Herman Huffman; thence South parallel with the East line of said Section 3 to the North line of Rupel Street; thence West with the North line of Rupel Street to the intersection of said North line of Rupel Street with the East line of College Street; thence North with said East line of College Street, to the place of beginning, excepting therefrom the right of way across said tract occupied by the Indiana, Illinois and Iowa Railway Company, a branch of the New York Central Lines, and excepting therefrom the following described tract: Beginning at the intersection of the South line of Lincolnway West (formerly Michigan Avenue) with the East line of the right of way of the Indiana, Illinois and Iowa Railway Company, a branch of the New York Central lines, which point is 329.3 feet South 67 1/2 degrees East of the point of intersection of the East line of College Street with the Southerly line of Lincolnway West, thence running South 67 1/2 degrees East with the Southerly line of said Lincolnway West a distance of 81.4 feet, more or less, to the Northwest corner of a tract of land conveyed to Herman Hoffman by Jonathan P. Creed and Lucretia M. Creed, by deed dated December 2, 1896 and recorded in Deed Record 102, pages 560-1, Recorder's Office of St. Joseph County, Indiana; thence South parallel with the East line of said Section 3, 173.2 feet, more or less to the North line of Rupel Street, thence West along the North line of Rupe 1 Street 215.29 feet, more or less to the East line of said right of way of Indiana, Illinois and Iowa Railway Company, thence Northeasterly along the Easterly line of said right of way 247 feet, more or less, to the place of beginning. and which has Key Numbers 018-2018-0536 be designated as an Economic Revitalization Area under the provisions of Indiana Code 6-1.1-12.1 et seq., 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 seq., and South Bend Municipal Code Sections 2-76, et Seq., 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 2 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 three (3) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION VI. The Common Council hereby determines that the property owner is qualified for and is granted property tax deduction for a period of(10) ten years as shown below. Year 1 — 100% Year 2 - 100% Year 3 - 100% Year 4— 100% Year 5 — 100% Year 6—95% Year 7—95% Year 8—95% Year 9—90% Year 10—90% 3 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. Tim Scott, Council President South Bend Common Council 4 TAXABATEMIENT REPORT TO: South Bend Common Council FROM: Daniel Buckenmeyer,Director of Business Development SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: Historic Lincoln Way West Homes,L.P. DATE: July 3,2018 On Monday, July 2, 2018, a petition from Historic Lincoln Way West Homes, L.P. was received and subsequently filed with the City Clerk for real property tax abatement consideration for property located at 1636 Lincoln Way West Street, South Bend,IN 46628. 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 ➢ Estimated $6,404,000 renovation of a former brewery building which is currently being used for an antique store and glass repair facility. The building will be converted to a residential structure with 22 apartments and common spaces for resident use. This project will result in the improvement of a blighted structure that is located on a major artery that leads from the airport to downtown South Bend. ➢ All apartments will be available for use by low and moderate income individuals and families for the duration of the abatement ➢ Estimated total taxes on the renovated building during the ten (10) year abatement period—$664,520 ➢ Estimated taxes being abated during the ten(10)year abatement period—$537,578 ➢ Estimated taxes to be paid during the ten(10)year abatement period—$126,942 EMPLOYMENT IMPACT Per the petition, it is estimated that the total project will: ➢ Create 1 permanent,full-time jobs within three years,representing a new estimate annual payroll of$40,000 ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner has not been granted or associated with previous abatements. 2. The Area Plan Commission has reviewed the petition and finds the property to be properly zoned for the proposed project. 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(10)ten-year real property tax abatement under section 2-84.2,Real Property Tax Abatement. City of South fiend UT e FS ►►� Petition-forI-ncentives QQ Petition must Include a$250 filing fee payable to the fifty,Clerk's Of/ice or oil%tne v1ri the City's s we6sHJ 411 http.11southbendln gov/govemment/content/tax-obatement:before processing epn be complete Gelare al r%onailo�! Y y proJecENarne. Historic LWW Homes l?rgjectJ h r_j=kAAH O Le'al name as registered with Secretary of Historic Lincoln Way West Homes, L.P. �- �,�cLEfiK,S ' "1�` "Inessstructure a to-be-formed limited partnership Gompanywehsrte www.sbheritage.org ron5edp ) ctl�jfgrrnal ,Xt.rl.�r�.��.>...i-i_. _ _ ..h`¢�.w i :r t� `�.��`� �•:��"�� '�S'.`.���`w.µ ,a Proposed project address 1636 Lincoln Way West P�e" -y--"an'e South Bend Heritage Foundation pty,State zip South Bend,IN 46628 �l,or.wng. Ethel Anderson Sfte d'creage or.acreage required .�3 acres is the real estate'ow"ed or Owned 7. 28,858 Sq.ft. Ifleasedbywho SyuarefeatoffadlEry -Y rn NA pO 2Gt�tilDrLrr�a� �' r' , 3 _.j'� �' r"t•-!_�:"2.�. i. ..� � g :?.1;i,`.�:,',.�r�'+ ',3-a•, , E ._;.? ����"�•s-?_-�:s5,.'.�r,... a - - - :.:r l�,e_.,.�4_.r .ke ,f�-a.;•�F�'.T� .E+'tlL�...ot.'�������� Primary company contact name !fie` Anne Mannix Co-Developer Address ofeompanycontaa Phope:-- 724 W.Washington 574-288-4369 GtY,5tatei Zip. .. Email• South Bend,IN 46601 amannix.nda @gmaiLcom Jp�ffl4r+al nfo m_allon — - - ;. s°" t rjs 1011111 "_�. a ' . Company senior offidal-name - 4 Marco Mariani Title- Co-Developer, Executive Director Ai dress of company contact(if different from phone �.> 803 Lincoln Way West 289-1066 City]State,Zip Email.'..; South Bend,IN 46616 - -: marcomariani @sbheritage.org ns tah"t Ififf1m Hired.business consultantlagent name Consultant release(Y/f)1. Address Leal economic cidiMcipment'partners r6val' pClty'r,,State{ZiP:, Emall - -- `�'R;i ,,§ ai a_ - Brief description of your - cam0ani piojecF andvuhythe This property is a former brewery which is currently being used for an property.kaecessaryfor antique store and a glass repair facility. The building will be converted econnmicgrowtEr: to a residential structure with 22 apartments and common spaces for resident use. This project will result in the improvement of a blighted structure that is located on a major artery that leads from the airport to downtown South Bend. Certifled Technology Park appropriate NA I;theprojectInaTax Incremental.Financing, Yes Certify that the BuilditPermfthasnotbeen bei!o�res{d Pt by No permit issued '` ,_22 Ifthls Is a petitionfor personal propertytax abatement,has NA the 1 mentbeeninstalled It►esttper}Egtails Public infrastructuierieeds(Off- Has any 544 funding been What i sthe value of any equfpment being purchased In What is the valueofanviWipmembeing site of project Indallars) received? btdlanafortheproject? purchased from'outafstatefor the project? -0- No -0- -0- New Rroect-loves#ments - -- _ GalendarY.ear, 016 2037 . 2D18 .2019 <' 2020 " 2021= 2022 2023 Land Acquisition $12,000 Building Lease Payments Building Purchase Costs $112,500 New Building Construction Existing Building Improvements $4,269,333 $2,134,667 New Machinery&Equipment special Tooling/Retooling New Furniture/Fixtures $80,000 New Computer/Ir Hardware _ New Software On-site Rail Infrastructure On-site Fiber Infrastructure 7`07AL Full_Time Permanent lndranaResrderrEosdlons kty Calendar Year -Calendar Year ~.Jobsretained Total hourly=_- :eumulat'vetl ofinet NEW full time `Hourly averagewage,wlo Total training To tall#to be permanentiohscreatedatprojecc benefits-orb'onuses,of- expenditure-- trained-not fIige or cumulative net new jobs- not cumulative '- bonuses - - - - cumulative' 2016 zoii 2018,' 2019 23 2020 ozi - Z622 -- _ 2023 ,>.. ..., ..., 2024 2025 = 2026 . 2027 rflp�; etourSywage fiormattonfor new:einployees in the following positions. - Fulltime.J-- —- Part time Laborers Technical Managerial - - Administrative Who,will beffiTe m rvn ua respoialsible tor coordinating with WorkOne on recruiting? - - Does your company have an EEO hiring poliey7 - Are you an EEO employer? - PleaseLstthenumberoffulltimeand'parttrrnemmorityand/orfeinaheemployeesforeac�iof Plea:edesvmeyourcommitmmtto _ >s s -x-the last thf8e years ,r- _ tr diversity and inclusion by detailing your - - - - outreach-and recruitment eff"for the last tHispinic ar 2017 2017 2017 three years as well as current policies. Fu111ime. 'Part Time- FullTmre' PartTirrm.e Full Time PartTrme- &` an Indian Female ggg Other i riC pnp7etebelow�folrReal mo Proet#ix m ntxo�l { i x ayt r = PI ases ! e esed�'Ir� t e;�, '"F 1h t �'S ___,s.*?f���F uti,��,.d.. .�r}z4,.ri(�r,�� ;�a`•��sc�.�..�c:7�%�._..1.a��.- -.�i..-�i3.��s�t ..:: Ila Public Benefit Item Information is required ori`tioth the;construction tompanies'and the companieswhich will provide materials purchased forxhis prnlect. Qualify. Please complete the-table below with'the appropriate mformatinn if Earrfed Points Available"Paints" (yes ar No) you qualify forrthe points;please enter-the:full amount 6611ailatile points:, 1 `::Construction Related(Contractors) - " A. Employ LOcal Companies(75%) Yes 20 20 B: Purchase Materials from1o,cal Co10panies:(75%): Yes 20 20 C. i Require Erpployees vs.Independe 1t9yj ractors;. 19 0, Reijulre Prevalhng Wage(Davis Bacon) 22 E. Require Health Benefits: 22 F: Regulre Pension Benefits 18 G. M@IntaJn Affirmative A:ctiar Pian_ Yes 20 20 Subtotal Coristructian Related:..; 60 141 2 Wage&Benefit.RelatedlQu+ned A. Pay Target Wage Levels Yes 33 33 B. Provide Health Benefits Yes 34 34 C. Provide Pension Benefits 29 r` Yes 28 28 D. provide Training. E. Piovlde Child Care 15 F: Provide TransportatlonAssistance 14 G. Provide Employer Assisted Housing'program 9 Sub-total Wage&Benefit Related,- 95 162 3 Nlorkforce Related A: Create New Jobs, Yes 42 42 B Retain ExistingJobs Yes ai C., Maintain Affirmative is 35 D. Provide Targeted:HlringPreferenc.e 34 ub-total W" .B &kforceelated 83 152 4 Suoport a Munidaal Facility suppomasBMunicipa i'Facility(cfari tidrf tiithe_: A. Yes 84 84 loo,conseniatory,museum etcr).;_ Namebf Facility-.- L3 r Sub-totalWunicipal`facility ea 84 Sub-total from Above: 539 Tfie undersigned owners)of real prope , owted withirrihe city of South"Bend'herby petition the-Common Council of the'City of South Bend for areal and/or persona r0 r.t --abatement:consideration and pursuant to I C. 671.1-12.1-1,et sea.,and So h Bend Mu cl a Cod e,S�ee,2 76.et.seg•for this petition stet th 'above. GvFib}T�4h�o�urelitast�} 9ssh �. $78,200 Ma1pr4 PpI;R<r3 _t.k.. Mai $20,000$990,00 e � at tskhesa,cueerrumbe?(or � 018-2018-0536 IlYhatSatheslii"d�f c6d8t��'?" ' PJmsflgttddra�nagle-m$p-an8tvigwc€tiie=ocatTcn'`.?r :.. ...: x � ' . Attached. 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Ytx?Ii jc#e. _.,, Hs;`s}. -- �edQ e o aazSped eeds r_> Yes 49 g Dgveld .. s 'DnBeMB Yes 36 RB13te 120 a 85 -�„tiw, .-f•:.:earva.�p;?�^6'�r�i7K#?!� "�t6''�t .F, f,:'ItA 6'-:�,t�:,���-,:u �G= .'Pf0- in�=VeinesaYe 4nirtlilfatfue _- p 68 y:aas;rva - �� X�,i r:;�r?r�ty->ra-z.�ciY=�.�s H�'-;• ",�2� t �t 65 RPM 7 r+'_ ' Sltl '•i:' 210 � Gusar� PSystot�r7N nidpa'lofra3trLCture..e��, t� P t� TIC sA r rfiorsP.BPd ng5 a4 ... z 14 Rr M5,0"' 26 otExSeris d BP 3a''�: 39 .--s 131 s• Y - - `t-�x s :urxA;•_,'r - _7 +S�:k`:'>'_` 85 539 ^ 97otadnm.nPPISeclon: . _;.r:�}r 8^ k :i�;A'. 461 _ a'• ��F�;,T �� •J �lir!t�•?a�Tl�.:4-�-5.::;:k1:�7�5^•`� -�✓'� _ ... .,.... ;;.:nd�'roi:.�3;?t +' u;;.?,?;;i:'7 •"•.:z'G-:,- �i-i 1000 °' TotalP�Rc�eirefitPoi '-Oad in Clerk's Off lea STATEMENT OF BENEFITS _. 20 PAY 20_ REAL ESTATE IMPROVEMENTS State Form 51767(R6 I i 0-14) —' ) � � FORM SB-1 f Real Pfopefty Prescribed by the Department of Local Government Finance iI PRIVACY NOTICE This statement is being completed for real property that qualifies under the following Inldiatlta Fd'd4 eh7h 1fiAtskj I Any information conceming the cost Redevelopment or rehabilitation of real estate Improvements IC li 1.1-12. t E { of the properly and specific salaries p Pr ( ..Ti i C� {, } I iND,Ct�i paid to individual employees by the Residentially distressed area(1C 6 1.1-12.1-4,1) property owner is con Fldentiai per ^y� IC 6-1.1-12.1-5.1. INSTRUCTIONS: 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to 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 orrehabilitation ofreal property for 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 3221REmust be filed with the County Audiforbefore 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 afierApol 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 CountyAud(torand designating body with a Form CF-I/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 for each year the deduction is applicable. IC 6-1.1-12.1-5.1(b) 5. For a Form 3B-11Real 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 6-1.1-12.1-17 SECTION •' • Name of taxpayer Historic Lincoln Way West Homes, L.P. (a to be formed limited partnership) Address of taxpayer(numberand street city stale,and ZIP code) 803 Lincoln Way West,South Bend, IN 46616 Name of contact person Telephone number E-mail address 322 ( ) SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name ofdesignating body Resolution number Location of property County DLGF taxing district number $0 Description of real property improvements,redevelopment,or rehabilitation(use additional sheets ifnecessary) Estimated start date( onth day,year) 5/1/2019 Conversion of a former brewery building into 22 residential apartments. Estimated completion date(month day,yeah 5/1/2020 Curcant number Salaries Number retained Salaries Number additional Salaries No permit issued 1 $40,000 REAL ESTATE IMPROVEMENTS COST ASSESSEDVALUE Currentvalues 1$ 125,000 $ 120,600 Plus estimated values ofproposed project 1$6,404,000 $ 1,430,000 Less values of any property being replaced -0- -0- Net estimated values upon completion of project S6,529,000 1,550 600 Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) Other benefits -Improvement of a deteriorated property on a major arterial road that leads from the airport to downtown South Bend.TAXPAYER CERTIFICATIN SECTION • I hereby •itify that th re sNn t tions in this statement are true. Signature a re s fa a Date signed(month,day,year) July 2,2018 Printed name c authorized rqtlfa v d�'J\'7 Title I Marco Mariani,Exe utl a Director Executive Director Page 1 of 2 FOR USE 6F THE 4ESIGNATING_.. 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(spec fy) 1= Number ofyears allowed: ❑Year 1 []Year 2 ❑Year 3 ❑Year 4 ❑ Year 6 (*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 6-1.1-12.1-171 ❑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 We ofauthwized member ofdaslgnat0g,body) Telephone number Dale signed(month,day,year) Printed name of authorized member of destgnating body Name of designating body Attested by(signature and tale ofattester) Printed name of attester If the designating body limits the time period during which an area is an economic revitalization area,that Rmftatlon does not Ilmft 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 SBA/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(6)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 6-1.1-121-17 below.) B. For the redevelopment or rehabilitation of real property where the Form SB-1lReal Property was approve¢pdor.to_July 1,2013,the abatement schedule approved by the designating body remains in effect For a Form SB-ifReal 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 Sea 17.(a)Adesignating 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 4.6 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 ntunber of new fuli-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 s ibsectlon applies to a statement of benefits approved after June 30,2013. Adesignating body shall establlsh an abatement schedule for each deduction allowed under this chapter. An abatement sdredule 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 resohrtion approving the taxpayer's statement of benefits. Page 2 of 2 EXHIBIT"A" A part of the North Half of the Northeast Quarter of the Southeast Quarter of Section 3,Township 37 North,Range 2 East,now within and a part of the City of South Bend,which part is bounded by a line running as follows: Beginning at the intersection of the East line of College Street with the Southerly line of Lincolnway West(formerly Michigan Avenue)in the City of South Bend,thence running South 67112 degrees East with the Southerly line of Lincolnway West,a distance of 411.6 feet,more or less to the- Northwest comer of a tract of land formerly owned by Herman Huffman;thence South parallel with the East line of said Section 3 to the North line of Rupel Street;thence West with the North line of Rupel Street to the intersection of said North line of Rupel Street with the East line of College Street;thence North with said East line of College Street,to the place of beginning,excepting therefrom the right of way across said tract occupied by the Indiana,Illinois and Iowa Railway Company,a branch of the New York Central Lines,and excepting therefrom the following described tract: Beginning at the intersection of the South line of Lincolnway West(formerly Michigan Avenue)with the East line of the right of way of the Indiana, Illinois and Iowa Railway Company,a branch of the New York Central lines,which point is 329.3 feet South 67112 degrees East of the point of intersection of the East line of College Street with the Southerly line of Lincolnway West,thence running South 67112 degrees East with the Southerly line of said Lincolnway West a distance of 81.4 feet,more or less,to the Northwest comer of a tract of land conveyed to Herman Hoffman by Jonathan P.Creed and Lucretia M.Creed,by deed dated December 2,1896 and recorded in Deed Record 102,pages 560-1,Recorder's Office of St.Joseph County,Indiana;thence South parallel with the East line of said Section 3,173.2 feet,more or less to the North line of Rupel Street, thence West along the North line of Rupel Street 215.29 feet,more or less to the East line of said right of way of Indiana,Illinois and Iowa Railway Company,thence Northeasterly along the Easterly line of said right of way 247 feet,more or less,to the place of beginning. Property Address Reference:1636 Lincolnway West,South Bend,IN 46628 Fired in Clerks ffiID JUL 02 2019 REE10AH FO>�/LER GtTy GLERK,SOUTH BE,IV INI ORT Form 4690 A&1-16 Schad&A Page ALTA Comm1herd for Title Insurance Flle No.17-36693 3 a� If it 'l � - �!:� . fit �, 1 { `¢��• ••� :.�t f r'� � :at .y.r>',9• � r ' \ � it � � e 'cam :, I � n i l y' r�•, ,t,_. r -: I _ 1 a 7 v Qt. anti ' lw (t CL d U .Fr is i t ti `s 2P� a I I !{ is �1 I r �^I y I I I