HomeMy WebLinkAboutDesignating Tax Abatement - 220 ColfaxAttest:
RESOLUTION
3784 -07
Passed by the Common Council of the City of South Bend, Indiana
September 10, 20 07
City Clerk
k
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
September 11, 20 07
Approved and signed by me SnptPmhcar 19 1 1 204�t_.
City Clerk
RESOLUTION NO. 3 7 9 { J 1
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
220 WEST COLFAX AVENUE
AS RESIDENTIALLY DISTRESSED AREAS FOR PURPOSES OF A
(5) FIVE -YEAR RESIDENTIAL REAL PROPERTY
TAX ABATEMENT FOR
COLFAX PLACE ASSOCIATES
WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a
Declaratory Resolution designating certain areas within the City as Residentially Distressed
Areas for the purpose of tax abatement consideration; and
WHEREAS, a Declaratory Resolution designated the area commonly known 220 West
Colfax Avenue, South Bend, Indiana, and which is more particularly described as follows:
PARCEL I:
Lots Numbered One (1), Two (2), Seven (7), Eight (8) and the East one -third (1/3)
of Lot Numbered Four (4) as shown on the recorded Plat of J.C. Knoblock's
Subdivision of Lots Numbered Two Hundred Forty-five (245) and Two Hundred
Forty-six (246) in the Original Plat of the Town, now City of South Bend, Indiana,
recorded February 26, 1901 in the Office of the Recorder of St. Joseph County,
Indiana.
EXCEPTING from said Lot Numbered Two (2) the following:
A strip of land bounded by a line described as beginning at the Northwest corner
of Lot Two (2) in Knoblock's Subdivision of Lots Two Hundred Forty-five (245)
and Two Hundred Forty -six (246) in the Original Plat of South Bend, Indiana;
thence running Easterly on the North line of said Lot Two (2) a distance of 31.65
feet to a point that is 0.50 feet East of the East end of the existing Party Wall;
thence South a distance of 1.25 feet; thence Westerly parallel with the North line
of said Lot Two (2) to a point on the West line thereof. said point being 1.25 feet
South of the point of beginning; thence North on the West line of Lot Two (2)
along the West end of said Party Wall to the place of beginning; said exception
being the real estate described in that certain Quit -Claim Deed dated March 21,
1986, and recorded as Instrument 8606081 in the Office of the Recorder of St.
Joseph County, Indiana.
PARCEL II:
Also, Lot Numbered Two Hundred Forty-four (244) and the East 60 feet of Lots
Numbered Two Hundred Forty-five (245) and Two Hundred Forty-six (246) as
shown on the Original Plat of the Town, now City of South Bend, Indiana.
PARCEL III:
(Designated as a Private Alley) Lot Lettered "A"
as shown on the recorded Plat of J.C. Knoblock's Subdivision of Lots Two
Hundred Forty-five (245) and Two Hundred Forty-six (246) in. the Original Plat of
the Town, now City of South Bend, recorded February 26, 1901 in Plat Book 8,
page 15 in the Office of the Recorder of St. Joseph County, Indiana, said alley
being Ten (10) feet in width, East and West, and Fifty (5 0) feet in length, North
and South, being adjacent to and East of Lots One (1), Two (2) and the South Nine
(9.00) feet of Lot Three (3) in said J.C. Knoblock's Subdivision of said Lots
Numbered Two Hundred Forty-five (245) and Two Hundred Forty-six. (246).
and this property has Tax Key Numbers 18- 1012 -0471; 0473; 0474 and 0475 be designated as a
Residentially Distressed 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, 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 a residentially
distressed 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 determines and finds that the petition for real
property tax abatement and the Statement of Benefits form meet the requirements of Indiana
Code 6 -1.1 -12.1 et se q., for tax abatement.
SECTION II. The Common Council hereby determines and finds that the area meets one of the
following conditions as formally established in Ordinance No. 9394 -03, which was passed on
February 10, 2003:
2
A. The area is comprised of parcels that are either unimproved or contain only one (1)
or two (2) family dwellings designed for up to four (4) families, including accessory
buildings for those dwellings; or
B. Any dwellings in the area are not permanently occupied and are:
i. the subject of an order issued under IC 36 -7 -9; or
ii. evidencing significant building deficiencies; or
C. Parcels of property in the area:
i. have been sold and not redeemed under IC 6- 1.1 -24 and IC 6- 1.1 -25; or
ii. are owned by a unit of local government; or
D. A significant number of dwelling units within the area are not permanently
occupied or a significant number of parcels in the area are vacant land; or
E. A significant number of dwelling units within the area are:
i. the subject of an order issued under IC 36 -7 -9; or
ii. evidencing significant building deficiencies; or
F. The area has experienced a net loss in the number of dwelling units, as documented
by census information, local building and demolition permits, or certificates of
occupancy, or the areas are owned by Indiana or the United States; or
G. The area (plus any areas previously designated under this subsection) will not
exceed ten percent (10 %) of the total area within the Council's jurisdiction.
SECTION III. The Common Council also hereby determines and finds the following:
A. That the description of the proposed redevelopment meets the applicable standards
for such development.
B. That the estimate of the value of the redevelopment is reasonable for projects of this
nature;
C. That the other benefits about which information was requested are benefits that can
be reasonably expected to result from the proposed described redevelopment; and
D. 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.
E. The deduction will not be allowed unless the dwelling is rehabilitated to meet local
code standards for habitability.
F. The deduction will not be allowed unless the dwelling rehabilitation is completed
within five (5) calendar years from the date of the adoption of this Resolution by the
Common Council.
SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating
the area described herein as a Residentially Distressed Area for the purposes of tax abatement.
Such designation is for Real property tax abatement only and is limited to five (5) calendar years
from the date of adoption of the Declaratory Resolution by the Common Council.
SECTION V. The Common Council hereby determines that the property owner is qualified for
and is granted Real property tax deduction for a period of five (5) years, 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 et seq.
3
SECTION VI. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approval by the Mayor.
PRESENTED \ -M -"31
NOT APPROVE
p,Dop_TE T -�6- 11
C
Member of the Co on Council
Filed In Clerk's Office
JUL - 3 2001
JOHN VOORDE
CITY CLERK, $0. BEND, IN.
1200 COUNTY- -CITY BUILDING
227 W. JEFFERSON BOULEVARD
SoUFII BEND, INDIANA 46601 -1830
July 17, 2007
PHONE 574 /235 -9371
FAx 574/235 -9021
TDD 574/ 235 -5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY & ECONOMIC DEVELOPMENT
.JEFFREY V. GIBNEY
EXECUTIVE DIRECTOR
Council Member Derek D. Dieter, Chairperson
Community & Economic Development Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601
RE: Residential Real Property Tax Abatement Petition for:
COLFAX PLACE ASSOCIATES (HOLLADAY CORPORATION)
Dear Council Member Dieter:
Please find attached the Department of Community & Economic Development's report on a residential
real property tax abatement petition submitted by Notre Dame Avenue, LLC to build up 12 single -
family condominiums at 220 West Colfax Avenue. Also attached is a copy of the petition, Statement of
Benefits form, and supporting information.
The report contains the department's findings relative to the above petition. The petitioner proposes to
build up to 12 single - family condominiums at a cost of $4,100,000. The project meets the qualifications
for a.(5) five -year real property tax abatement. The petitioner will be available to meet with the
Committee on Monday, August 13, 2007.
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 -5835.
Sincerely,
d,,� Y
Bob Mathia
Assistant Director,
Economic Development
Attachments
cc: South Bend Common Council Members
Mayor Stephen Luecke
Jeff Gibney
Don Inks
COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM
PAMELA C. MEYER DONALD E. INKS MANAGEMENT
574/235 -9660 574/235 -9371 ELIZABETH LEONARD
FAX: 574/235 -9697 574/235 -9371
1200 COUNTY -CITY BUILDING
227 W JEFFERSON BOULEVARD
SOUTH BEND, INDIANA 46601 -1830
PHONE 574/235 -9371
FAx 574/235 -9021
TDD 574/ 235 -5567
CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR
COMMUNITY & ECONOMIC DEVELOPMENT
JEFFREY V. GIBNEY
EXECUTIVE DIRECTOR
TAX ABATEMENT REPORT
TO: SOUTH BEND COMON COUNCIL
FROM: BOB MATHIA
SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR:
COLFAX PLACE ASSOCIATES (HOLLADAY CORP.)
DATE: July 17, 2007
On July 3, 2007, a petition for residential tax abatement consideration for real property located at 220 West
Colfax Avenue was filed with the City Clerk by Colfax Place Associates (Holladay Corp.). Pursuant to
Chapter 2, Article 6, Section 2 -77.1 of the Municipal Code of the City of South Bend, this petition was
referred to the Department of Community and Economic Development for purposes of investigation and
preparation of a report determining whether the area qualifies as a Residentially Distressed Area pursuant to
I.C.6 -1.1 -12.1 and whether all zoning requirements have been met.
The Department of Community and Economic Development has reviewed the petition, investigated the
area, and makes the following report.
PROJECT DESCRIPTION
Colfax Place Associates intends to convert a 28,059 sq. ft. office building to condominiums. 24,783 sq. ft.
will be used for the condominiums (2 "d through the 7`h floors). A maximum of twelve (12) units will be
constructed. 3,276 sq. ft. will be used for commercial space. The condos will range in size from 1544 sq.
ft. to 3800 sq. ft. They will contain from two to three or more bedrooms, depending on buyer's preference,
and two to three bathrooms with a living room and kitchen. On site parking will be provided. The price of
the condos will range from $259,000 for a 1544 sq. ft. unit on the second floor to $850,000 for a 3800 sq. ft.
unit on the top floor of the building. The total cost of the project is estimated at $4,100,000. Total taxes to
be abated for the condos costing $259,000 and $850,000 over the (5) five -year abatement period are
estimated at $10,262 each. Total taxes to be paid for the two condos during the (5) five -year abatement
period are estimated at $16,072 and $50,495 respectively.
COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM
PAMELA C. MEYER DONALD E. INKS MANAGEMENT
574/235 -9660 574/235 -9371 ELIZABETH LEONARD
FAX: 574/235 -9697 574/235 -9371
South Bend Redevelopment Commission
RE: Colfax Place Associates (Holladay Corp.)
July 17, 2007
Page 2
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted finds that the petitioner has not been associated with
or granted any previous tax abatements.
2. The Building Commissioner has reviewed this petition and finds the properties to be properly zoned
for the proposed project. However, the Commissioner noted that two building permits were pulled for
the project for the 51h floor with a total valuation of $148,000. The petitioner has explained that this
work was done to prepare two showrooms to demonstrate what the condos could look like. The
petitioner stated that the showrooms do not meet code requirements and, therefore, could not be lived
in. When the space occupied by the showrooms is sold for condo(s), the showrooms will be
demolished and the condos(s) constructed. The $148,000 would not be a part of the tax abatements
granted under this petition.
A review of the South Bend Redevelopment designation areas finds that the property is located in the
South Bend Central Development Area, which is a Tax Incremental Allocation Areas; therefore,
approval of the tax abatement petition by the South Bend Redevelopment Commission is required.
4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the
qualifications for a (5) five -year residential tax abatement under Section 2 -77.1, Single Family
Residential Construction.
5 YEAR 19- Jul -07
COLFAX PLACE ASSOCIATES
South Bend Portage Township Residential Real Property Tax Abatement Schedule*
Estimated Project Cost:
Assessed Value:
STRUCTURE (assume 85% of project cost)
LAND (assume $10,000)
Gross Assessed Value
Less Mortgage Exemption
Less Standard Homeowners Deduction
Base Assessed Value
Less Maximum Abatement Deduction
Less Non - Abated Amount
Plus Land Assessed Value
Net Assessed Value
Property Taxes:
Assume constant tax rate of
Gross Tax (tax rate x net assessed value)
Less SRTC: 21.6906%
Less Homestead Credit: 32.0670%
Net Tax
Net
Assessed
Year Value
$259,000.00
Total Taxes Tax Abated ** Tax Paid***
220,150.00 220,150.00 220,150.00
10,000.00 N/A N/A
230,150.00 220,150.00 220,150.00
(3,000.00) (3,000.00) (3,000.00)
(35,000.00) (35,000.00) (35,000.00)
192,150.00 182,150.00 182,150.00
N/A N/A (74,880.00)
N/A (107,270.00) N/A
N/A N/A 10,000.00
192,150.00 74,880.00 117,270.00
5.1524% 5.1524% 5.1524%
9,900.34
3,858.12
6,042.22
(2,147.44)
(836.85)
(1,310.59)
(2,486.12)
(968.83)
(1,517.29)
5,266.77
2,052.44
3,214.34
Total
Taxes Tax Tax
Due Abated Paid
1 192,150.00
5,266.77
2,052.44
3,214.34
2 192,150.00
5,266.77
2,052.44
3,214.34
3 192,150.00
5,266.77
2,052.44
3,214.34
4 192,150.00
5,266.77
2,052.44
3,214.34
5 192,150.00
5,266.77
2,052.44
3,214.34
5 year totals:
26,333.87
10,262.19
16,071.68
*This schedule is for estimation purposes only and assumes constant tax rates. The true tax values
will ultimately be determined by the actual assessed valuation and the then current tax rates.
* *Tax Abated is capped at $74,880 of assessed value of structures only and does not include land
assessed value.
** *Tax Paid is calculated using the difference between actual assessed value of structure and
maximum abated portion of $74,880 and adding back the land assessed value.
5 YEAR 19-Jul -07
COLFAX PLACE ASSOCIATES
South Bend Portage Township Residential Real Property Tax Abatement Schedule*
Estimated Project Cost:
Assessed Value:
STRUCTURE (assume 85% of project cost)
LAND (assume $10,000)
Gross Assessed Value
Less Mortgage Exemption
Less Standard Homeowners Deduction
Base Assessed Value
Less Maximum Abatement Deduction
Less Non - Abated Amount
Plus Land Assessed Value
Net Assessed Value
Property Taxes:
Assume constant tax rate of
$850.000.00
Total Taxes Tax Abated "* Tax Paid * **
722,500.00 722,500.00 722,500.00
10,000.00 N/A N/A
732,500.00 722,500.00 ' 722,500.00
(3,000.00) (3,000.00) (3,000.00)
(35,000.00) (35,000.00) (35,000.00)
694,500.00 684,500.00 684,500.00
N/A N/A (74,880.00)
N/A (609,620.00) N/A
N/A N/A 10,000.00
694,500.00 74,880.00 619,620.00
5.1524% 5.1524% 5.1524%
Gross Tax (tax rate x net assessed value)
35,783.42
3,858.12
31,925.30
Less SRTC: 21.6906%
(7,761.64)
(836.85)
(6,924.79)
Less Homestead Credit: 32.0670%
(8,985.74)
(968.83)
(8,016.91)
Net Tax
19,036.04
2,052.44
16,983.60
Net Total
Assessed Taxes Tax Tax
Year Value Due Abated Paid
1 694,500.00
19,036.04
2,052.44
16,983.60
2 694,500.00
19,036.04
2,052.44
16,983.60
3 694,500.00
19,036.04
2,052.44
16,983.60
4 694,500.00
19,036.04
2,052.44
16,983.60
5 694,500.00
19,036.04
2,052.44
16,983.60
5 year totals:
95,180.20
10,262.19
84,918.01
*This schedule is for estimation purposes only and assumes constant tax rates. The true tax values
will ultimately be determined by the actual assessed valuation and the then current tax rates.
* *Tax Abated is capped at $74,880 of assessed value of structures only and does not include land
assessed value.
** *Tax Paid is calculated using the difference between actual assessed value of structure and
maximum abated portion of $74,880 and adding back the land assessed value.
CITY OF SOUTH BEND, INDIANA
PETITION FOR RESIDENTIAL TAX ABATEMENT CONSIDERATION
The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common
Council of the City of South Bend for Residential Real Property tax abatement consideration and pursuant to I.C.1
6- 1.1- 12.1 -1, et seq., and South Bend Municipal Code Sec. 2 -76 et seg., for this petition states the following:
Describe the proposed construction project, including information about square footage, numbers of rooms,
amenities, the amount of land to be used, the proposed use of the improvements, and a general statement as to
the importance of the project (use additional sheet for long project descriptions):
_ _ _. . - -- iw _f� -I".._ I .. 1 /- w- _ I_ __ ... -.1 nf�
2. Estimate the dollar value of the construction project (do not include land cost): $, /00. POD
3. The real property for which tax abatement consideration is petitioned (Property) is owned or to be owned by
the following individual(s) or corporations (if the business organization is publicly held, indicate also the name
of the corporate parent, if any, and the name under which the corporation has filed with the Securities and
Exchange Commission):
Address Interest
4. The commonly known address of the Property is: ZZd W. GUl � Mt. and having
tax key no.: OJ$ " /Q /Z- QLI'f J (use additional sheet for nwltiple addresses or key numbers).��
5. A legal description of said Property(s) is attached hereto, marked Exhibit A, and is incorporated herein.
6. A map and /or plat indicating the location of the Property(s) is attached hereto, marked Exhibit B, and is
incorporated herein.
7. The current assessed valuation of the property before construction is $ 00 (use additional sheet
for multiple addresses). (This information may be obtained from the St. Joseph County Assessor's Office, 235
9523).
8. Photographs of the Property, taken within two (2) weeks of the filing of this petition, are attached hereto,
marked Exhibit C, and incorporated herein.
0
List the real property taxes paid at the location during the previous two years, whether paid by the current
owner or a previous owner (use additional sheet for multiple addresses):
(This information may be obtained from the St. Joseph County Treasurers office, 235 -9531)
10. What is your best estimate of the after completion market value of the property: $ 501701 POO
11. No building permit has been issued for construction on the property in connection with the improvement in
question as of the date of filing of this petition. The building permit may be issued after the South Bend
Common Council has approved the Declaratory Resolution. (Tax abatement is not available if a building
permit has already been issued). The signature below is verification of this statement.
12. List other anticipated public financing for the project, including any assistance to be sought or already
authorized through the United States Department of Housing and Urban Development funds from the City of
South Bend, South Bend Housing Authority, Housing Assistance Office, St. Joseph County Housing
Consortium or other public financial assistance, including but not limited to public works improvements:
13. Describe how the property has become undesirable for or impossible of normal development because of a lack
of development, cessation of growth, deterioration of improvements or other factors which have impaired
value: and prevent a normal development of the property: �
14. The current use of the property is (LTgYzee and the current
zoning is = (use).
(This information may be obtained from the Building Department 235 -9553)
15. The property is located in the following Allocation Area (if any) declared and confirmed by the South Bend
Redevelopment Commission (requiring approval of the tax abatement by the Redevelopment Commission):
16. The following person should be contacted as the petitioners agent regarding additional information and public
hearing notifications:
Name
Addre:
City, S
Telepl
WHEREFORE, Petitioner has paid the required fee of $50.00 and requests that the Common Council of the City of
South Bend, Indiana, adopt a declaratory resolution designating the area described herein as a residentially
distressed area for the purposes of real property tax abatement consideration, and after publication of notice and
public hearing, determine that the qualifications for a residentially distressed area have been met and confirm such
resolution.
0jJ1re
,U`_3 D0l
JOT '61E11%
Name of Property Owner(s):
By:
(Si n re)
John
(Typed or printed name and capacity)
2
F_xhlbiPh
C0 Fes, f0a 6556.
DESCRIPTION: (Lawyers Title Insurance Corp. Commitment No. 3529S05, May 18, 2005)
PARCEL I:
Lots Numbered One (1), Two (2), Seven (7), Eight (8) and the East
one —third (1/3) of Lot Numbered Four (4) as shown on the recorded
Plat of J.C. Knoblock's Subdivision of Lots Numbered Two Hundred
Forty —five (245) and Two Hundred Forty —six (246) in the Original
Plat of the Town, now City of South Bend, Indiana, recorded
February 26, 1901 in the Office of the Recorder of St. Joseph
County, Indiana.
EXCEPTING from said Lot Numbered Two (2) the following:
A strip of land bounded by a line described as beginning at the
Northwest corner of Lot Two (2) in Knoblock's Subdivision of Lots
Two Hundred Forty —five (245) and Two Hundred Forty —six (246) in the
Original Plat of South Bend, Indiana; thence running Easterly on
the North line of said Lot Two (2) a distance of 31.65 feet to a
point that is 0.50 feet East of the East end of the existing Party
Wall; thence South a distance of 1.25 feet; thence Westerly
parallel with the North line of said Lot Two (2) to a point on the
West line thereof, said point being 1.25 feet South of the point of
beginning; thence North on the West line of Lot Two (2) along the
West end of said Party Wall to the place of beginning; said
exception being the real estate described in that certain Quit —
Claim Deed dated March 21, 1986, and recorded as Instrument 8606081
in the Office of the Recorder of St. Joseph County, Indiana.
PARCEL II:
Also, Lot Numbered Two Hundred Forty —four (244) and the East 60
feet of Lots Numbered Two Hundred Forty —five (245) and Two Hundred
Forty —six (246) as shown on the Original Plat of the Town, now City
of South Bend, Indiana.
PARCEL III:
(Designated as a Private Alley) Lot Lettered "A"
as shown on the recorded Plat of J.C. Knoblock's Subdivision of
Lots Two Hundred Forty —five (245) and Two Hundred Forty —six (246)
in the Original Plat of the Town, now City of South Bend, recorded
February 26, 1901 in Plat Book 8,' page 15 in the Office of the
Recorder of St. Joseph County, Indiana, said alley being Ten (10)
feet in width, East and West, and Fifty (50) feet in length, North
and South, being adjacent to and East of Lots One (1), Two (2) and
the South Nine (9.00) feet of Lot Three (3) in said J.C. Knoblock's
Subdivision of said Lots Numbered Two Hundred Forty —five (245) and
Two Hundred Forty —six (246). Filed {n Clark'S OffiC0
JUL - 3 2007
JOKtj VOQROE
CITY CL E?9, SC. 6EIlD, IN
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.LITE. COLFAX PLACE
220 W. COLFAX
SOUTH BEND. INDIANA
46601
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PALM & ASSOCIATES, INC.
Lx.....'1 .2 E1v„•e[De a wmrw.s•m � /�
•ro.lao.) •a• �•e
EXhiW 6, �v I f/ � G Of, y
w
a
Filved IM 01'lce
JUL - 3 2007
CITY M KTD, IN
... -,�, STATEMENT OF BENEFITS
j(a REAL ESTATE IMPROVEMENTS
t 1 State Form 51767 (R2 11-07)
Prescribed by the Department of Local Government Finance
AsyW,,,." "
This statement is being completed for real property that qualifies under the following Indiana Code (check one box):
ARedevelopment or rehabilitation of real estate improvements (IC 6 -1.1- 12.1 -4)
❑ Eligible vacant building (IC 6 -1.1- 12.1 -4.8)
20_ PAY 20_
FORM SS -1 I Real Property
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 or rehabilitation of real property for which the person wishes to claim a deduction.
"Projects" planned or committed to after July 1, 1987, and areas designated after July 1, 1987, require a STATEMENT OF BENEFITS. (iC 6 -1.1 -12.1)
2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitation,
BEFORE a deduction may be approved.
3. To obtain a deduction, application Form 322 ERA/RE or Form 322 ERA/VBD, Whichever is applicable, must be filed with the County Auditor by the later
of- (1) May 10; or (2) thirty (30) days after the notice of addition to assessed valuation or new assessment is mailed to the property owner at the address
shown on the records of the township assessor.
4 Property owners whose Statement of Benefits was approved after June 30, 1991, must attach a Form CF -1 /Real Property annually to the application to
show compliance with the Statement of Benefits. (IC 6 -1.1- 12.1- 5.1(b) and IC 6 -1.1- 12.1- 5.36)]
5. The schedules established under IC 6 -1.1- 12.1 -4(d) for rehabilitated property and under IC 6 -1.1- 12.1- 4.8(i) for vacant buildings apply to any statement
of benefits approved on or after July 1, 2000. The schedules effective prior to July 1, 2000, shall continue to apply to a statement of benefits filed before
July 1, 2000.
SECTION •- •
Name of taxpayer 601 {Ac -FIA&
Address of taxpayer (number and street, city,. state, and ZiP code) I
1�0• fox 133! Svk / �%Iz7 /4
Name of contact person Telephone umber
Jim lasko�vski 57 zi7• IM
E� mail address
IAskvwsk,r�'hv11�(
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
Name of designating body
Hollwk l 1*,4,ly-t z'
Resolution number
3 � 9 1-( — o
Location of property
22o W all •F hw• Smw-1 *�
County
5�• jpw
DLGF taxing district number
�,--
Description of real property improvements. redevelopment, or rehabilitation (use additional sheets if necessary)
t Mml v pm lr fYDm f�,CiGG f D Q9yy�y�lihiu�►�i
Estimated start date (month. day. year)
q • 1 • ZOo '7
Estimated completion date (month, day, year)
q ' 1 • ZODS
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED -.
777mber Salaries Number retained Salaries Number additional Salaries
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
NOTE: Pursuant to IC 6- 1.1- 12.1 -5.1 (d) (2) the COST of the property REAL ESTATE IMPROVEMENTS
is confidential. COST ASSESSED VALUE
Current values
t, 3 �
Plus estimated values of proposed project
1 DDS 00c)
?
Less values of any property being replaced
=Net values upon completion of project
-a /QO 00
3Q
SECTION • AND OTHER BENEFITS PROMISED
Estimated solid waste converted (pounds)
Estimated hazardous waste converte
Other benefits rice
i 007
ECrr:l`ID,
E
IN
SECTION •
I hereb rtify Whe representations in this statement are true.
Signature of at ri representative Title
Date signed (month, day, year)
Page 1 of 2'
�o
�S
3
Page 2 of 2
FOR OF DESIGNATING :•e
We have reviewed our prior actions relating to the designation of this Economic Revitalization Area and find that the applicant meets the general standards
adopted in the resolution previously approved by this body. Said resolution, 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
3. Occupancy of a vacant building [Yes ❑ No
C. The the deduction is limited to $ ^l�
amount of applicable
D. Other limitations or conditions (specify)
E. The deduction is allowed for years' (see below).
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 titleof authprized member of designating body)
Telephone number
Date signed (month, day, year)
Attested by (signature and title of attes r) p
Designated body 03
' If the desig ling body limits the time period during which an area is an economic revitalization area, it does not limit the length' of time a taxpayer is
entitled to receive a deduction to a number of years designated under IC 6- 1.12 - 12.1 -4.
A. For residentially distressed areas, the deduction period may riot exceed five (5) years.
B. For redevelopment and rehabilitation or real estate improvements:
1. If the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years.
2. If the Economic Revitalization Area was designated after June 20, 2000, the deduction period may not exceed ten (10) years.
C. For vacant buildings, the deduction period may not exceed two (2) years.
Page 2 of 2