HomeMy WebLinkAbout19-26 Catalyst Three Designating Real Property Tax Abatement Filed in Clerk's Office
c APR 0 3 2019
KAP,EEmAI f=�Jl^.LER
CITY CLERK,SQUTs-1SENT?,IN
CITY OF SOUTH BEND
COMMUNITY INVESTMENT
Council Member Gavin Ferlic, Chairperson April 3,2019
Community Investment Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601
RE: Real Property Tax Abatement Petition for:
Catalyst Three,LLC
Dear Council Member Ferlic:
Please find attached the Department of Community Investment's report on a real property tax abatement
petition for the above-referenced petitioner. Also attached is a copy of the petition, Statement of Benefits
form,and supporting information. Catalyst Three,LLC is proposing to invest more than$16,000,000 in the
construction of a new office building located in the Ignition Park, South Bend.
The report contains the Department's findings relative to the above petition. The project meets the
qualifications for a(8)eight-year real property tax abatement and a representative from Catalyst Three will
be available to meet with the Committee on Monday, April 8, 2019.
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,
Daniel Buckenmeyer
Director Economic Resources & Business Development
DANIEL J.BUCKENMEYER AI.KEYNA AI.DRIDGE PAMELA MEYER TIM CORCORAN
BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DEVELOPMENT PLANNING&COMMUNITY RESOURCES
EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT
14005 County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov
office
Filed in Cleric's O .
V ;PRO2U19
TAX ABATEMENT REPORT
I�BECi�+1ri+H FOWL'�R
CITY CL't=.B�,�OUT�PEND,IN
TO: South Bend Common Council
FROM: Angelina Billo
SUBJECT: Real Property Tax Abatement Petition For:
Catalyst Three,LLC
DATE: April 1, 2019
On March 29, 2019, a petition for real property tax abatement consideration for property located in the
Ignition Park,South Bend was filed with the City Clerk by Catalyst Three,LLC. 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,investigated the area,and makes the
following report.
PROJECT SUMMARY
• Catalyst Three, LLC is proposing to invest more than $16,000,000 in the construction of
approximately 83,000 sq. ft. new office space in the Ignition Park, South Bend.
• The new office building is intended to serve as an instrumental factor in retaining a highly valued
employer within the City of South Bend.
• Total project cost is approximately$16,000,000.
• Petitioner is qualified for an eight-year real property tax abatement.
• The estimated amount of taxes phased-in for the eight-year abatement is$2,373,722. Estimated
paid taxes paid for the eight-year term are $418,898. Current annual taxes are under$1,500.
EMPLOYMENT IMPACT
As the developer,Catalyst Three,LLC will not have direct employees.However,this site/building is being
built-to-suite a very important South Bend corporation that DCI has been working with for the last five
years to retain and grow in South Bend.The benefits of this tax incentive will directly impact the retention
of, at least, 500 full-time jobs in the City of South Bend.
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted finds that the Petitioner,Catalyst Three,LLC has
not been granted or associated with any previous tax abatement.
2. The Area Plan Commission has reviewed the petition and fords the property to be properly zoned
for the proposed project.
3. The Building Commission has reviewed the petition and finds no building permit was issued.
4. The property is located in the River West Development area.
5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the
qualifications for a(8) eight-year real property tax abatement under section 2-75 Real Property
Tax Abatement General Standards.
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Fled in Clerk's Cffi^e
BILL NO. 19-26 APR 0 3 2019
RESOLUTION NO. Kr,r= FOWLER
-�
C . " SOUTH BEND,IN
A RESOLUTION OF THE COMMON COUNCIL F THE -----
CITY
-_.--CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
Ignition Park, South Bend, IN 46601
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN EIGHT
(8) YEAR REAL PROPERTY TAX ABATEMENT FOR
Catalyst Three, LLC
WHEREAS, a petition for real property tax abatement has been filed with the City Clerk for
consideration by the Common Council of the City of South Bend, Indiana requesting that the area
located at the Ignition Park, South Bend, IN. which is more particularly described as:
Lot 3 Ignitions Park Minor Sub #1 1 S/16NP#1101010-28-2014
and which has Key Number 018-8021-084916 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
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 eight (8) years as shown by the schedule
outlined below as well as the attachment pursuant to Indiana Code 6-1.1-12.1-17.
Year 1 - 100%
Year 2 - 100%
Year 3 - 100%
Year 4 - 100%
Year 5 - 95%
Year 6 - 90%
Year?-80%
Year 8 —70%
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
City of South Bend � H
Petition for Incentives
Petition must include a$250 filing fee payable to the City Clerk's Office or online via the City's website at
http://southbendin.gov/government/content/tox-abatement before processing can be complete
General Information Project Name Press Ganey Project Number
Legal name as registered with Secretary of CATALYST THREE, LLC
Sate
Business structure Indiana limited liability company
Company website www.greatlakescapital.com
Proposed Project Information
Proposed project address Parent company name
Ignition Drive(Ignition Park)
City,State,Zip South Bend, Indiana 46601 Legal owner Catalyst Three, LLC
Site acreage or acreage required 6.91 Acres Is the real estate owned or
Owned
Square feet of facility Proposed 83,000 If leased by whom
Primary Contact Information
Primary company contact name Jeff Smoke Title Director of Development
Address of company contact 112 West Jefferson Blvd.,Ste 200 Phone 574 855-5700
City,State,Zip South Bend, Indiana 46601 Email jsmoke@greatlakescapital.com
Senior Official Information
Company senior official name Jeff Smoke Title Same
Address of company contact(if different from Phone
abovel
City,State,Zip Email '
Consultant Information/Agent
Hired business consultant/agent name Richard Deahl,Barnes 8 Thornburg LLP Consultant release(Y/N) Y
Address 100 N Michigan Street, Suite 700 Local economic development partners
aooroval fY/N
City,sate,zip South Bend, Indiana 46601 Email rdeahl@btlaw.com
Project Overview
Brief description of your
company,project,and why the Construction of proposed 83,000 square foot new office, as an
property is necessary for enhancement for the Ignitionp Park development in South Bend. This
economic growth
project is intended to serve as an instrumental factor in retaining a
highly valued employer within the City.
Filed in Clerk's Office
r
MAR ' ` 2019
{ KAREEMAH FOWLERoocc1
Certified Technology Park appropriate Y { CITY CLERK,SOUTH BEND, N
Is the project in a Tax Incremental Financing
(TIF I area? If so.which?Certify Y
sued(VW the Building Permit has not been No permit issue the of residential units created by NIA
orolect
If this Is a petition for personal property tax abatement,has N/A
the equipment been instated
Investment Details
Public Infrastructure needs(Off- Has any 504 funding been What is the value of any equipment being purchased in What is the value of any equipment being
site of project in dollars) received? Indiana for the project? purchased from out of state for the project?
No N/A N/A
New Project Investments
Calendar Year 2019 2020 2021 2022 2023 2024 2025 2026
Land Acquisition
Building Lease Payments
Building Purchase Costs
New Building Construction S 6.000,000 00 S 10.000,000.0e
Existing Building Improvements
New Machinery&Equipment
Special Tooling/Retooling
New Fumhure/Fixtures
New Computer/fT Hardware
New Software �
On-site Rail Infrastructure
On-site Fiber Infrastructure
TOTAL $NaN $NaN $NaN
$NaN $NaN $NaN $NaN $NaN
Full-Time Permanent Indiana-Resident Positions by Calendar Year
Calendar Year Jobs retained Total hourly Cumulative#of net NEW full time Hourly averaxe wage,w/o Total training Total#to be
wage w/o permanent jobs created at project benefits or bonuses,of expenditure- trained-not
fringe or cumulative net new jobs not cumulative
bonuses cumulative
2019 PIs See Exhibit
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
Provide hourly wage information for new employees in the following positions.
Full time Part time
Laborers
Technical
Managerial
Administrative
Who wit be the individual responsible for coordinating with
WorkOne on recruiting?
Does your company have an EEO hiring policy? Are you an EEO employer?
Please list the number of full time and part time minority and/or female employees for each of Please describe your commitment to
the last three years: diversity and inclusion by detailing your
outreach and recruitment efforts for the last
Year
three years as well as current polides.
Full lime Part Time Full Time Part Time Full Time Part Time
Black
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.
complete the table below with the p
Qualify
appropriate information. If (Yes or No) Earned Points Available Points
you qualify for the points,please enter the full amount of available
points.
1 Construction Related(Contractors):
A Employ Local Companies(75%) _: 20
B. Purchase Materials from Local Companies(75%) Y 20 20
C. Require Employees vs.Independent Contractors Y 19 19
D Require Prevailing Wage(Davis Bacon) N 22
E. Require Health Benefits Y 22 22
F Require Pension Benefits Y 18 18
G. Maintain Affirmative Action Plan Y 20 20
Sub-total Construction Related: hMft ,(7 C1 141
2 Wage&Benefit Related(Owner):
A. Pay Target Wage Levels Y 33 33
B. Provide Health Benefits Y 34 34
C. Provide Pension Benefits Y 29 29
D. Provide Training Y 28 28
E. Provide Child Care N 15
F. Provide Transportation Assistance N 14
G. Provide Employer Assisted Housing program N eee 9
Sub-total Wage&Benefit Related: NaN'/21 162
3 Workforce Related:
A. Create New Jobs Y 42 42
B. Retain Existing Jobs Y 41 41
C. Maintain Affirmative Action Plan Y 35 35
D. Provide Targeted Hiring Preference Y 34 34
Sub-total Workforce Related: 152 152
4 Support a Municipal Facility:
Support a SB Municipal Facility(donations to the
A. 84
zoo,conservatory,museum,etc.) Y 84
Name of Facility /ti Z._ gA.-l-r_.(e f" Po-/QW /7-2/ 2D'CI) .
ISub-total Municipal Facility: 84 84
Sub-total from Above: 1714 q 539
The undersigned owner(s)of real property,located within the City of South Bend,herby petition the Common Council of the City
of South 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 lend nicipat,Code Sec.2-76 et seq.,for this petition state the above.
Submitted By: r lOyjk. 'Date: 3/4 9/ /'r
For Staff Use Only Below This Line
What is the current assessed value? Real Property: / 7 6o V Personal Property:
What is the projected assessed value? Real Property: ! Q� 7OCC..personal Property:
What is the tax key number for this project?
C',1
p _ rzt7
What Is the six digit NAICS code?
Please attach a Google map and street view of the location.
Please Ilst the amount of real and personal property taxes Real Property Taxes: ?Personal Property Taxes:
paid for the last five years when applicable.
Year One ----Year Two
Year Three
Year Four
Year Five
Please fill out the following Public Benefit Summary Information and add to total from above.
jY or N) Points Points
Public Benefit Item:
Project Related:
5 A. Redevelop a Site that has Special Needs 49
8. 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 cumulative):
A. 100%to 199% C S 25
B. 200%to 299% 68
C. 300%to 399% 9 65
D. 400%and Over 5 52
Sub-total Super Size Projects: //-. 210
7 Pay for Municipal Infrastructure:
A. Pay for Oversizing or Upgrading 14
B. Pay for 26-50%of Extension Cost 26
C. Pay for 51-75%of Extension Cost 39
D. Pay for 76-100%of Extension Cost 52
Sub-total Infrastructure Related: /' 131
4
Total from Applicant Section: 4/79 539
Total from Staff Section: o0/0 461
Total Public Benefit Points: 1000
Filed in Clerk's Office
STATEMENT OF BENEFITS 4I R 2 9 2019 i
t 2020 PAY 2021 i
4:.
REAL ESTATE IMPROVEMENTS' State Form 51767(R6/10-14) t fr`•J ,rl�>---T- FORM SB-1/Real Property
`' Prescribed by the Department of Local Government Finance il
CITY CLERK,SOUTH FEND,IN I PRIVACY NOTICE
This statement is being completed for real property that qualifies under the following Indiana Code(check one bax)--- Any information concerning the cost •
0 Redevelopment or rehabilitation of real estate improvements(IC 6-1.1-12.1-4) of the property and specific salaries
❑Residential) distressed area(IC 6-1.1-12.1-4.1 ppr perd to i owners conempfidential
p the
y 1 IC 6-1.1-12.1-5.1
property
per
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.
2. The statement of benefits 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 322/RE 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 after April 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 322/RE 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 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 6-1.1-12.1-17 (I
SECTION 1 TAXPAYER INFORMATION 1
Name of taxpayer
CATALYST THREE LLC i
Address of taxpayer(number and street,city,state,and ZIP code)
112 WEST JEFFERSON BLVD., SUITE 200
Name of contact person Telephone number E-mail address
Jeff Smoke,Director (574 ) 251-4400 JEF jsmoke(d.greatlakescapital.cpm }(
SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT
t
Name of designating body Resolution number
Common Council of City of South Bend i
Location of property `County DLGF taxing district number
1
Ignition Park
Description of real property improvements,redevelopment,or rehabilitation(use additional sheets if necessary) I Estimated start date(month,day,year)
JI November 2019
Proposed investment of over$16,000,000 for new construction of office building in Ignition Park Estimate
dcompletion date(month,day,year)
Feb. 20121
SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT
Current number Salaries Number retained Salaries Number additional Salaries
SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT
REAL ESTATE IMPROVEMENTS
COST I ASSESSED VALUE
Current values
Plus estimated values of proposed project 16,000.000
iLess values of any property being replaced
Net estimated values upon completion of project )16.000.00(1
SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER
Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds)
Other benefits
tr
SECTION 6 TAXPAYER CERTIFICATION
I hereby certify that the represen ti\o in i statement are true.
Signature of authorzed representaliv �t, I Dale sped(mmth,day,year)
3/0-9 /9
Printed name of authorized represents'e Title
Page 1 of 2
FOR USE OF THE DESIGNATING BODY
We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution,passed or to be passed
under IC 6-1.1-12.1,provides for the following limitations:
A. The designated area has been limited to a period of time not to exceed calendar years*(see below). The date this designation
expires is
B. The type of deduction that is allowed in the designated area is limited to:
1.Redevelopment or rehabilitation of real estate improvements ❑Yes D No
2.Residentially distressed areas ❑Yes ❑No
C. The amount of the deduction applicable is limited to$
D. Other limitations or conditions(specify)
E. Number of years allowed: ❑Year 1 El Year 2 ❑Year 3 ❑Year 4 ❑ Year 5 (`see below)
❑Year 6 ❑Year 7 ❑Year 8 ❑Year 9
0 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
El Yes El 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 'Date signed(month,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.
Page 2 of 2
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