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s TH EE <br /> o� mod. Filed in &I CO)rIc'S Office <br /> P£AE� SEP 0 5 2018 <br /> 1865 K <br /> KAREk:M1•"eH FOWLER <br /> ° <br /> CITY CLERK,SOUTH REND,IN <br /> CITY OF SOUTH <br /> COMMUNITY INVESTMENT <br /> JAMES MUELLER, EXECUTIVE DIRECTOR <br /> September 5, 2018 <br /> Council Member Gavin Ferlic, Chairperson <br /> Community Investment Committee <br /> South Bend Common Council <br /> 4th Floor, County City Building I <br /> South Bend„IN 46601 <br /> RE: Real Property Tax Abatement Extensions for: Historic JMS Building LLC,JSK <br /> Development Inc.,RDistrict One LLC,Imagineering Enterprises Inc.,Tower at <br /> Washington Square LLC. <br /> i <br /> ° <br /> Dear Council Member Ferlic: t <br /> As part of our annual review process, we have found the need for several extensions to the <br /> designation period for previously approved tax abatements. These extensions would not alter the <br /> length of the abatement itself, however. It has been a general practice, when granting a tax <br /> abatement, to allow a two-year designation period for the project to get underway, be completed, <br /> and receive its higher reassessed value. The clock on the designation period starts when the I' <br /> abatement is granted by Council. Sometimes a project takes a bit longer to get underway and/or <br /> be completed, and sometimes the Assessor's office does not issue the reassessed value (and <br /> accompanying Form 11)within the two-year timeframe. For these situations(detailed below) the <br /> petitioners are asking Council to grant extensions of the designation period on the following tax <br /> abatements. a <br /> f <br /> Attached please find proposed forms of resolutions modifying and reconfirming the adoptions of <br /> declaratory resolutions for Historic JMS Building LLC,.JSK Development Inc.,RDistrict One <br /> LLC, Imagineering Enterprises Inc., Tower at Washington Square LLC which combined <br /> were granted a total of eleven real property tax abatements. <br /> DANIEL J.BUCKE�Ii M TER ALKEYNA ALDEmGE PAMELA MEYER Th t CORcoRm <br /> Bushmss DEVEr oPiviEm Er GA=- m-T&EcoNomc EhipowERww NEIL oRHo0D DEvELoPN-= PLAl\'NINC&GozD imy RESOURCES P <br /> EXCELLENCE I ACCOU NTAB I LITY I INNOVATION I INCLUSION I EMPOWERMENT <br /> 1400S County-City Building 1227 W.Jefferson Blvd.I South Bend,Indiana 466011 p 574.235.93711 www.southbendin.gov <br />