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20-07 Designating Real Property Tax Abatement for Midwest Family Broadcasting
ri 61317i'94' MAY 0 6 2020 C w .-a x'.{y PE CE �,,... 1865 CITY OF SOUTH BEND COMMUNITY I NVESTM ENT May 6,2020 Council Member Jake Teshka, Chairperson Community Investment Committee South Bend Common Council 4th Floor,County City Building South Bend, IN 46601 RE: Vacant, Real & Personal Property Tax Abatement Petition for: WSJM-INC aka Midwest Family Broadcasting Dear Council Member Teshka: Please find the attached information pertaining to a vacant, real and personal property tax abatement petitions submitted by WSJM-INC to purchase a vacant building located at 316 E Monroe Street, South Bend, IN 46601 and also to purchase new telecommunication and network equipment for broadcasting. The company is planning to move their regional HQ and four radio stations (WSBT, WNSN, WZOC and WQLQ) there and build four studios, and administrative offices for about twenty-three employees. This petition package includes: > Department of Community Investment's summary report > Petition ' Statement of Benefits forms(Vacant Building, Real and Personal properties) > Supporting information The report contains the Department's findings relative to the above petition. The petitioner proposes to purchase the vacant building for $235,000, invest in its renovation approximately $2,500,000 and purchase new equipment with estimated cost of $800,000. A total project cost is approximately $3,535,000. A representative from WSJM-INC will be available to meet with the Committee on Monday, May 11, 2020. 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 J. Buckenmeyer Director, Business Development DANIEL J.BUCKEN\[EVER ALKEYNA ALDRIDGE: PAMELA MEYER TIMI CORCORAN BUSINESS DEVELOPMENT ENGAGEMENT&ECONOMIC EMPOWERMENT NEIGHBORHOOD DEVELOPMENT PLANNING&CONI\fUNTTY RESOURCES EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT 1400S County-City Building 227 W.Jefferson Blvd. South Bend,Indiana 46601 p 574.235.9371 www.southbendin.gov TAX ABATEMENT REPORT TO: South Bend Common Council FROM: Dan Buckenmeyer, Director of Business Development SUBJECT: VACANT, REAL & PERSONAL PROPERTY TAX ABATEMENT PETITION FOR: WSJM-INC aka Midwest Family Broadcasting DATE: May 6, 2020 On Wednesday,April 8,2020,a petition from WSJM-INC was received and subsequently filed with the City Clerk for vacant, real and personal property tax abatements consideration for property located at 316 E Monroe Street,South Bend,IN 46601. 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 > 18,185 sq.ft. vacant building with purchase price of$235,000 and an additional $2,500,000 in planned private investment for building upgrades to operate a radio broadcasting building with four(4)studios, admin, engineering and sales. ➢ The building has been vacant for more than one year. Much of the existing electronics that remain are not useful. The existing HVAC equipment, evident on the exterior of the building has been destroyed by vandalism and theft of the components. The exterior will receive new exterior windows and a new entrance. The interior will be renovated to accommodate four radio stations, twenty-three employees, a UPS system, administration offices, and the engineering offices/broadcast equipment. ➢ Additional private investment in personal property — telecommunication and network equipment with purchase price of$800,000. > Current and estimated property taxes for a 10-year period with and without private investment: Property Current Estimated Tax w/o Est. Tax with Private Annual Private Investment for Investment for 10 Property Tax 10 Years Years Vacant Bldg& Land—5Y $12,243 $122,430 $59,025 Renovation Bldg-5Y $0 $0 $294,072 Equipment—5Y $0 $0 $39,277 Total: $12,243 $122,430 $392,374 EMPLOYMENT IMPACT Per this petition, it is estimated that the company will: > Bring to South Bend twenty-three (23) permanent full-time jobs representing a total annual payroll of$1,028,560. The hourly average wage is $21.75. > Create three(3)new permanent, full-time jobs within first three years with a total estimated annual payroll of $104,956. The estimated hourly average wage is $16.82. 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 five (5) year vacant building, a five (5) year real property and five (5) year personal tax abatements under section 2-82.1, Industrial development in Urban Enterprise Zone and Redevelopment Blighted Areas, and section 2-84.2, Tangible Personal Property Tax Abatement. 5 YEAR 6-May-20 Midwest Family South Bend Portage Township Vacant Building Real Property Tax Abatement Schedule* Tax Key Number 018-3092-3518 Current Assessed Value: 393,500 Estimated Project Cost: 0 Current Without 100% 100% 100% 100% 100% Assessed Value: AV&Tax Abatement Year 1 Year 2 Year 3 Year 4 Year 5 Current Assessed Value 100% 393,500 393,500 393,500 393,500 393,500 393,500 393,500 Base Assessed Value 100% 0 0 0 0 0 0 Less Abatement Deduction 0 0 0 0 0 0 Net Assessed Value 393,500 393,500 393,500 393,500 393,500 393,500 393,500 Property Taxes: Assume constant tax rate of 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% Gross Tax(tax rate x net assessed value) 20,027 20,027 20,027 20,027 20,027 20,027 20,027 Less Circuit Breaker Credit (8,222) (8,222) (8,222) (8,222) (8,222) (8.222) (8,222) Net Tax 11,805 11,805 11,805 11,805 11,805 11,805 11,805 Circuit Breaker Cap Circuit Breaker 3.0000% 11,805 11,805 11,805 11,805 11,805 11,805 11,805 Debt Service 0.0000% 0 0 0 0 0 o 0 Circuit Braker Cap 11,805 11,805 11,805 11,805 11.805 1 1,805 11,805 New Combined Nel Existing Project Existing&New Tax Tax Year Taxes Taxes Taxes Abated Paid 1 11,805 0 11,805 0 11,805 2 11,805 0 11,805 0 11,805 3 11,805 0 11,805 0 11,805 4 11,805 0 11,805 0 11,805 5 11,805 0 11,805 0 11,805 Totals 59,025 0 59,025 0 59,025 '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. 5 YEAR 6-May-20 Midwest Family South Bend Portage Township Real Property Tax Abatement Schedule* Tax Key Number 71-018-55348-00 Current Assessed Value: 0 Estimated Project Cost: 2,450,600 Current Without 100% 100% 100% 100% 100% Assessed Value: AV&Tax Abatement Year 1 Year 2 Year 3 Year 4 Year 5 Current Assessed Value 100% 0 0 0 0 0 0 0 Base Assessed Value 80% 1,960,480 1,960,480 1,960,480 1,960,480 1,960,480 1,960,480 Less Abatement Deduction 0 (1,960,480) (1,960,480) (1,960,480) (1,960,480) (1,960,480) Net Assessed Value 0 1.960,480 0 0 0 0 0 Property Taxes: Assume constant tax rate of 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% Gross Tax(tax rate x net assessed value) 0 99,776 0 0 0 0 0 Less Circuit Breaker Credit 0 (40,961) 0 0 0 0 0 Net Tax 0 58,814 0 0 0 0 0 Circuit Breaker Cap Circuit Breaker 3.0000% 0 58,814 58,814 58,814 58,814 58,814 58,814 Debt Service 0.0000% 0 0 0 0 0 0 0 Circuit Braker Cap 0 58,814 58.814 58,814 58,814 58,814 58,814 New Combined Net Existing Project Existing&New Tax Tax Year Taxes Taxes Taxes Abated Paid 1 0 58,814 58,814 58,814 0 2 0 58,814 58,814 58,814 0 3 0 58,814 58,814 58,814 0 4 0 58,814 58,814 58,814 0 5 0 58,814 58,814 58,814 0 Totals 0 294,072 294,072 294,072 0 '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. 5 YEAR 6-May-20 Midwest Family South Bend Portage Township Personal Property Tax Abatement Schedule* Tax Key Number TBD Current Assessed Value: 0 Estimated Project Cost: 500,000 100% 90% 80% 70% 60% Year 1 Year2 Year3 Year4 Year 5 Current Assessed Value: AV&Tax Current Assessed Value 100% 0 0 0 0 0 0 Base Assessed Value 200,000 300,000 275,000 225,000 185,000 Less Abatement Deduction200,000 ( ) (270,000) (220,000) (157,500) (111,000) Net Assessed Value 0 0 30,000 55,000 67,500 74,000 Property Taxes: Assume constant tax rate of 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% 5.0894% Gross Tax(tax rate x net assessed value) 0 0 1,527 2,799 3,435 3,766 Less Circuit Breaker Credit 0 0 0 0 0 0 Net Tax 0 0 _ 1,527 2.799 3,435 3,766 Circuit Breaker Cap Circuit Breaker 3.0000% 0 6,000 9,000 8,250 6,750 5,550 Debt Service 0.0000% 0 0 0 0 0 0 Circuit Braker Cap 0 6,000 9,000 8,250 6,750 5,550 New Combined Net Existing Project Existing&New Tax Tax Year Taxes Taxes Taxes Abated Paid Year 1 0 6,000 6,000 6,000 0 Year2 0 9,000 9,000 7,473 1,527 Year 3 0 8,250 8,250 5,451 2,799 Year 4 0 6,750 6,750 3,315 3,435 Year 5 0 5,550 5,550 1,784 3,766 Totals 0 35,550 35,550 24,023 11,527 '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. 316 e monroe st south bend in 46601 -Bing Page 2 of 2 CQ N z - u V •t, City Hall Ct Z z z r- W Colfax Ave z E Colfax Ave E Colfax Ave (2O -- W US-20-Br E Colt W Washington St to E Washington St in E Washing, v, a o Bamaby's -r, "!1.... Cio ChKory Cat, . I+ - v, m et Studebaker National Museum o vV N It EJe J o4 ,n Hoose it ., �' wr ?, rD ety > v, ensOn BIv, C `o a » m W to r ,'.,,, ., St letfeVIL r^ E a pi, Q iv v -‹ d'° v V o v, 3 c ,n a, y epi$ b m v, n a v` 5 s E ,,' �r �o �nn ym d t ; W Western Ave Z N a ed°Ave N 3 in Sur v, f+ `,, Stanley Coveleski Flamingo 9 E Monroe St E Monroe St ttl Stadium 316 E Monroe St, p �,� "��,�.�-#; . South Bend, IN 46601 111' 'e, ,' E South St c W south St P Social 1.,ctUril, di r rr r sou' CI Administration E Bronson Si P s '°wa p` EDGEWATER • cos oz Cr v_ D E Bronson St s!$-".' ''''r Y Jc c MONROE PARK r Wall St Chester St N f kw St Iglt tl 71 E Sr+mhIe St South Bend Farmer's Market , W Sample-St Jeannie's House i Crooked Ewe Brewery .r. a sl Kerr St Ohio St &Ale House _ o ,;, C .,i ist YMCA r' r E o ,n u c Dean Johnson Blvd o vrr Ivy tech Community . Wenger St x •` Hridrath S 0 College-S... , .5 Bing Stul it >mm�ty ��' Pe 911 ©2020 HERE.tgOpenStreetMap vet � Data from: Zillow • GreatSchools https://www.bing.com/maps?q=316+e+monroe+st+south+bend+in+46601&form=PRHPC 1&src=IE 11 TR&pc=HCTE 5/6/2020 City of South Bend ``'`i�9'I• Petition for Incentives = s Petition must include a$250 filing fee payable to the City Clerk's Office or online via the City's website at eaca�. http://southbendin.gov/government/content/tax-abatement before processing can be complete " General Information Project Name Project Number Legal name as registered with Secretary of WSJM-INC State Business structure S Corporation Company website https://vsnwe.midwestfamilysouthbend.com/ Proposed Project Information Proposed project address 316 E Monroe Street Parent company name WSJM-INC City,State,Zip South Bend, IN,46601 Legal owner WSJM-INC Site acreage or acreage required 1.64 acres Is the real estate owned or Ipaced Square feet of facility 18,185 If leased by whom Primary Contact Information Primary company contact name Bill Gamble title General Manager Address of company contact 1301 East Douglas Road Phone 574-247-4320 City,State,zip Mishawaka, IN,46545 c"'a'I bgamble@wsbtradio.com Senior Official Information Company senior official name Dave Doetsch title President Address of company contact(if different from 580 E Napier Ave Phone 269-925-1111 ahovel City,State,Zip Benton Harbor, MI,49085 Email daved@midwestfamilyswmi.com Consultant Information/Agent Hired business consultant/agent name National Construction Consultant release(Y/N) Address 701 E Washington Street Suite 103 LOQleconamicdevelapmcntpartners No approval(Y/N City,state,Zip Madison,WI,53703 Email i bemie@nationalconstructioninc.corn Project Overview Brief description of your company,project,and why the We are looking to re-locate our all our operations back to South Bend. propertylsnecessaryfor In 2008, former ownership moved our four radio stations from South economic growth Bend to Mishawaka. All of our radio stations (WSBT, WNSN, WZOC,WQLQ) have a strong connection to South Bend, none more so that WSBT radio. WSBT first signed on the air on July 3, 1922 as WGAZ. It is one of Indiana's oldest radio stations. The call sign stood for "World's Greatest Automotive Zone," which was a nod to Studebaker Automobiles, headquartered and manufactured in South Bend. On September 9, 1925, the call letters became WSBT. We are a part of South Bend's history and want to once again be broadcast from the city. Certified Technology Park appropriate Is the project in a Tax Incremental Financing Yes-South Bend Central Development Area (TIF I area?If so.which? Certify that the Building Permit has not been N 1 Number of residential units created by 0 Issued IYMl lect If this isapetition for personal property tax abatement,has There will be one for property taxes and personal property the equipment been installed Investment Details Public Infrastructure needs(Off- Has any 5M 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 2,735,600 $600,000 New Prosect Investments Calendar Year 2020 2021 2022 2023 2024 2025 2026 2027 Land Acquisition incl Building Lease Payments Building Purchase Costs 235,000 New Building Construction n/a Existing Building Improvements 2,450,600 New Machinery&Equipment 600,000 Special Tooling/Retooling New Furniture/Fixtures 50,000 New Computer/IT Hardware New Software On-site Rail Infrastructure On-site Fiber Infrastructure TOTAL 3,335,600 5 0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Full-Time Permanent Indiana-Resident Positions by Calendar Year Calendar Year Jobs retained Total hourly Cumulative C of net NEW full time Hourly aysti s wage,w/o Total training Total C to be wage w/o permanent jobs treated at project benefits or bonuses,of expenditure- trained-not fringe or cumulative net new Jobs not cumulative bonuses cumulative 2020 23 21.75 0 0 2021 3 16.82 20,000 3 2022 3 16.82 20,000 3 2023 2024 2025 2026 2027 2028 2029 2030 2031 Provide hourly wage information for new employees in the following positions. Full time Part time Laborers $10.50 $10.50 Technical $1S 20 $10.5C Managerial S24.00 Administrative $13.00 $10.50 Who will be the individual responsible for coordinating with WorkOne an recruiting? Bill Gamble bgamble@midwestfamilysouthbend.com Does your company have an EEO hiring policy? Yes Are you an EEO employer? Yes 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 2019 2018 2017 three years as well as current policies. Full Time Part Time Full Time Part Time Full Time Part Time Black 1 1 1 1 0 1 Hispanic 2 0 2 0 2 1 Asian 0 0 0 0 0 0 Indian 0 0 0 0 0 0 Female 8 2 11 3 16 2 Other 26 8 30 10 27 6 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. Please complete the table below with the appropriate information. If Qualify Earned Points Available Points (Yes or No) you qualify for the points,please enter the full amount of available points. 1 Construction Related(Contractors): A. Employ Local Companies(75%) Yes 20 20 B. Purchase Materials from Local Companies(75%) Yes 20 20 C. Require Employees vs.Independent Contractors Yes 19 19 D. Require Prevailing Wage(Davis Bacon) J' "_19 0 22 E. Require Health Benefits Yes 22 22 F. Require Pension Benefits Yes 18 18 G. Maintain Affirmative Action Plan Yes 20 20 Sub-total Construction Related: 119 141 2 Wage&Benefit Related(Owner): A. Pay Target Wage Levels Yes 33 33 B. Provide Health Benefits Yes 34 34 C. Provide Pension Benefits Yes 29 29 0. Provide Training Yes 28 28 E. Provide Child Care Yes 15 15 F. Provide Transportation Assistance Yes 14 14 G. Provide Employer Assisted Housing program No 0 9 Sub-total Wage&Benefit Related: /5-3 162 3 Workforce Related: A. Create New lobs Yes 42 42 B. Retain Existing lobs Yes 41 41 C. Maintain Affirmative Action Plan Yes 35 35 yes 34 D. Provide Targeted Hiring Preference 34 Sub-total Workforce Related: 152 152 4 Support a Municipal Facility: Support a SB Municipal Facility(donations to the A. zoo,conservatory,museum,etc.) Yes 84 84 Name of Facility CiL•ri,GL-tC ,se i 4 tA `L IVH `i-ti 6;C cc 2,f Sub-total Municipal Facility: 84 84 Sub-total from Above: 508 539 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 Bend Municipal Code Sec.2-76 et seq.,for this petition state the above. Submitted By: I - f Date: April 8, 2020 ----W 5.1M MX, M.4. For Staff Use Only Below This Line What is the current assessed value? Real Property: []1/2 _q 00 Personal Property: What Is the projected assessed value? Real Property: J r Personal Property: What is the tax key number for this project? 01 t,r 67 e What is the six digit NAICS code? N ."F'1 Please attach a Google map and street view of the location. Please list the amount of real and personal property taxes Real Property Taxes: Personal Property Taxes: paid for the last five years when applicable. f.,/,p R ear One 17 620.6 OC(l//®/✓ 49, Year Two /r, /Z /'+ age/�/ id? Year Three /46 5Co 7 l20/of /y' Year Four 1'/ 176 j' to/ /*6 Year Five �/'7`V /.J Please fill out the following Public Benefit Summary Information and add to total from above. (Y or Nj Points Points Public Benefit Item: Prolect Related: 5 A. Redevelop a Site that has Special Needs 49 B. Develop Based on Local University Research 35 C. Achieve a Physical Element of a Plan 2, 6 36 y. Sub-total Project Related: 3C 120 6 Super Size Projects(point values are cumulative): A. 100%to 199% -— 25 B. 200%to 299% r 68 C. 300%to 399% 65 D. 400%and Over / 52 Sub-total Super Size Projects: O 21C 7 Pay for Municipal Infrastructure: A. Pay for Oversizing or Upgrading <----Th 14 B. Pay for 26-50%of Extension Cost 26 Z-- C. Pay for 51-75%of Extension Cost 39 D. Pay for 76-100%of Extension Cost 52 Sub-total Infrastructure Related: d • 131 Total from Applicant Section: 6-?7-8 519 Total from Staff Section: 461 Total Public Benefit Points: 579 Y 1000 m� +tk. . •�'-54 '"s STATEMENT OF BENEFITS 20_PAY 20_ A `• VACANT BUILDING DEDUCTION 10, • Slate Form 55182(R 1 2-14) FORM SB-1 I VBD Prescribed by the Department of Local Government Finance PRIVACY NOTICE This statement is being completed for real property that qualifies as an"eligible vacarl building"as defined by The cost and any specific individual's IC 6-1.1-12.1-1(17). salary information is confidential,the balance of the filing is public record � per IC 6-1 1-12.1-5.1(c)and(d). 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 occupation of the eligible vacant building for which the person wishes to claim a deduction. 2. To obtain a vacant building deduction,a Form 322N813 must be filed with the county auditor before May 10 in the year in which the property owner or his tenant occupies the vacant building or not later than thirty(30)days after the assessment notice is mailed to the property owner if it was mailed alerApril 10. if the property owner misses the May 10 deadline in the initial year of occupation,he can apply between March 1 and May 10 of a subsequent year. 3 A property owner who files the Form 322NBD must provide the county auditor and the designating body with a Form CF-1NBD to show compliance with the approved Form SB-1NBD. The Form CF-1NBD must also be updated each year in which the deduction is applicable. SECTION 1 TAXPAYER INFORMATION Name of WSJM-INCaer Address of taxpayer(number and street,city state,and ZIP code) 1301 EasDouglas Road Mishawaka,IN 46545 Name of contacterson Tel hone number E-mad address David Doetsci ( X269 j 925-1111 davedtgmidwestfamilyswmi.com SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body ho;c.ul or.numcer City of South Bend Location of property County DLGF taxing district number 316 East Monroe Street St.Joseph Description of eligible vacant building that the property owner or tenant will occupy(use additional sheets 11 necessary). Estimated occupancy date(month,day.year) The building consists of 2 floors with a total square footage of 1 ,185 sf.The construction consists of February 22.2021 precast concrete wall panels and a conventional bar joist roof deck with built up roof.Building has Estimated date placed inose(month,day.year) been vacant for over 12 months. SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS A RESULT OF PROPOSED PROJECT Current number Salaries Number retained Salaries Number additional Salaries 23 $1,040,520 23 $1,040,520 3 $105,000 SECTION ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS — COST ASSESSED VALUE Current values $235,000 Plus estimated values of proposed project $3,100,600 Less values of any property being replaced Net estimated values upon completion of project $3,335,600 SECTION 5 EFFORTS TO SELL OR LEASE VACANT BUILDING ig owngtir en ll s[e0 IIre agrs`ta ce gral teSag:a reAVIVciVreags ate serncees,worldwide company.It was previously a data center owned by CyrusOne. Show amount for which the building was offered for sale.lease,or rent during period of vacancy. The list price was"Negotiable"when the offer to purchase was made. tf'he7x sprig eullcaing w°R Mlome`"`i'r a i{t urge gzpe enceAT8adcasting company.By revitalizing this existing building and bringing new employees to this location,a new sense of confidence should be felt by other businesses looking to relocate to this area of South Bend.This new development should also provide support to existing local amenities or encourage new service businesses to locate here. SECTION 6 TAXPAYER CERTIFICATION I hereby certify that the representations in this statement are true. Sign a of authorized rept alive (Title President Date signed impnrA08�yyg$r) /[/ t I U4/ LUZU 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 lime not to exceed calendar years'(see below). The date this designation expires is B. The amount of the deduction applicable is limited to$ • C. Other limitations or conditions(specify) D. Number of years allowed: ❑ Year 1 ❑ Year 2 0 Year 3 ❑ Year 4 0 Year 5('see below) 0 Year 6 0 Year 7 0 Year 8 ❑ Year 9 0 Year 10 E For a statement of benefits approved after June 30,2013,did the designating body adopt an abatement schedule per IC 6-1.1-12.1-17? ❑ 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 title of authorized member of designating body) Telephone number Date signed(month,day,year) f ) 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. IC 6-1.1-12.1-1(17)`.Eligible vacant building"means a building that: (A)is zoned for commercial or industrial purposes:and (B)is unoccupied for at least one(1)year before the owner of the building or a tenant of the owner occupies the building,as evidenced by a valid certificate of occupancy,paid utility receipts,executed lease agreements.or any other evidence of occupation that the department of local government finance requires. 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-lime 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 ;'•\ STATEMENT OF BENEFITS 20 PAY 20 i 1, REAL ESTATE IMPROVEMENTS Slate Form 51767(R6110-14) FORM SB-1/Real Property L.1. Prescribed by the Department of Local Government Finance PRIVACY NOTICE This statement is being completed for real property that qualities under the following Indiana Code(check one box): Any information concerning the cost ❑Redevelopment or rehabilitation of real estate improvements(IC 6-1.1-12.1-4) or the property and speclfc salaries ❑ • Residential) distressed area(IC 6-1.1-12.1-4.1) prop to individual i confidemploential l p the Residentially property owner is confidentlal per INSTRUCTIONS: IC 6-1 1-12.1.5.1 • 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 CountyAuditor 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. lC 6-1.1-12.1-5.1(b) 5. For a Form SE-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 SECTION 1 TAXPAYER INFORMATION Name of taxpayer IWSJM-INC Address of taxpayer(number end street,city state,and ZIP code) 1301 East Douglas Road, Mishawaka, IN 46545 Name of contact person Telephone number E-mail address Dave Doetsch ( ) 269-925-1111ved@midwestfamilyswmi.com SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resdutton number City of South Bend, IN Location of property County DLGF taxing district number 316 East Monroe Street St.Joseph Description of real property Improvements,redevelopment,or rehabditabon(use additional sheets if necessary) Estimated start date(month,day,year) July 1,2020 The 18,185sf building was built in 1985. It is a vacant 2 story building. It will re renovated to Estimated completion dab(month,day,yea' February 26,2021 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Salaries Number retained Salaries Number additional Salaries 23 $1,028,560 23 $1,028,560 3 • SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT REAL ESTATE IMPROVEMENTS COST I ASSESSED VALUE Current values $235,000 � Plus estimated values of proposed project $3,100,600 Less values of any property being replaced 0 Net estimated values upon completion of project SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER n/a Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) Other benefits SECTION 6 TAXPAYER CERTIFICATION I hereby certify that the representations in this statement are true. Signature of authorized pre niative Date signed(month,day,year) � 14/8120 Prin a of authorized rep n aloe tie Dave Doetsch President Page 1 of 2 FOR USE OF THE DESIGNATING BODY We find that the applicant meets the general standards in the resolution adopted or to be adopted by this body. Said resolution,passed or to be passed under IC 6-1.1-12.1,provides for the following limitations: A. The designated area has been limited to a period of time not to exceed calendar years'(see below). The date this designation expires Is B. The type of deduction that Is allowed in the designated area Is limited to: 1.Redevelopment or rehabilitation of real estate Improvements 0 Yes ❑No 2.Residentially distressed areas D Yes 0 No C. The amount of the deduction applicable is limited to$ D. Other limitations or conditions(specify) E. Number of years allowed: 0 Year 1 ❑Year 2 ❑Year 3 ❑Year 4 ❑ Year 5 (`see below) ❑Year 6 ❑Year 7 0 Year 6 0 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 ❑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 title of authorized member of designating body) Telephone number Date signed(month,day,year) ( ) Printed name of authorized member of designating body Name of destnatIng body Attested by(signature and title of attester) Printed name of attester •If the designating body limits the lime period during which an area Is an economic revitalization area,that limitation does not limit the length of lime 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. Far residentially distressed areas where the Form SB-1/Real Properly 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 en 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 —,'''!',-,\ STATEMENT OF BENEFITS q PERSONAL PROPERTY FORM SB-1 /PP • 1"• 't , Slate Form 51764(R4!11-15) r Prescribed by the Department of Local Government Finance PRIVACY NOTICE Any Information concerning the cast of the property and specific salaries paid to individual employees by the property owner is confidential per IC e-1 1-12.1.5 1. INSTRUCTIONS 7. 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 a person installs the new manufacturing equipment and/or research and development equipment,and/or logistical distribution equipment and/or information technology equipment 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 installation of qualifying abatable equipment for which the person desires to claim a deduction. 3. To obtain a deduction,a person must file a certified deduction schedule with the person's personal property return on a certified deduction schedule (Form 103-ERA)with the township assessor of the township where the property is situated or with the county assessor If there is no township assessor for the township. The 103-ERA must be filed between January 1 and May 15 of the assessment year In which new manufacturing equipment and/or research and development equipment and/or logistical distribution equipment and/or information technology equipment is installed and fully functional,unless a filing extension has been obtained. A person who obtains a filing extension must file the form between January 1 and the extended due date of that year. 4. Property owners whose Statement of Benefits was approved,must submit Form CF-I/PP annually to show compliance with the Statement of Benefits. (IC 6-1.1-12.1-5.6) 5. For a Form SB-1/PP that is approved after June 30,2013,the designating body is required to establish an abatement schedule for each deduction allowed. Fora Form SB-1/PP 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 1 TAXPAYER INFORMATION Name of taxpayer Name of contact person WSJM-INC Dave Doetsch Address of taxpayer(number and street,city slate,and ZIP code) Tatephone number 1301 East Douglas Road,Mishawaka, IN 46545 269-925-1111 SECTION 2 LOCATION AND DESCRIPTION OF PROPOSED PROJECT Name of designating body Resorul on number(s) City of South Bend Location of property County DLGF taxing district number 316 East Monroe Street St.Joseph County . Description of manufacturing equipment and/or research and development equipment ESTIMATED and/or logistical distribution equipment and/or information technology equipment. START DATE COMPLETION DATE (Use additional sheets if necessary) Manufacturing Equipment . R&D Equipment Logist Dist Equipment IT Equipment 12/7/20 2/12/21 SECTION 3 ESTIMATE OF EMPLOYEES AND SALARIES AS RESULT OF PROPOSED PROJECT Current number Salaries Number retained Salaries Number additional Salaries 23 $1,040,520 23 $1,040,520 l S104,957 SECTION 4 ESTIMATED TOTAL COST AND VALUE OF PROPOSED PROJECT NOTE Pursuant to IC 6-1.1-12.1-5.1(d)(2)the MANUFACTURING R&D EQUIPMENT LOGIST DIST IT EQUIPMENT • EQUIPMENT EQUIPMENT COST of the property is confidential. COST COST ASSESSED ASSESSED ASSESSED ASSESSED COST VALUE VALUE VALUE COST VALUE . Current values Plus estimated values of proposed project $50,000 SBCD,000 • Less values of any property being replaced 0 Net estimated values upon completion of project r SECTION 5 WASTE CONVERTED AND OTHER BENEFITS PROMISED BY THE TAXPAYER Estimated solid waste converted(pounds) Estimated hazardous waste converted(pounds) . Other benefits. SECTION 6 TAXPAYER CERTIFICATION I hereby certify that the representations in ttys}statement are true. Si nature of authrxiz re - ntative / Dela signed(month,day.year) f April 8, 2020 Print name of authorized representafive I Title Dave Doetsch President Page 1 of 2 FOR USE OF THE DESIGNATING BODY We have reviewed our prior actions relating to the designation of this economic revitalization area and find that the applicant meets the general standards adopted in the resolution previously approved by this body. Said resolution, passed under IC 6-1.1-12.1-2.5, provides for the following limitations as authorized under IC 6-1.1-12.1-2. A. The designated area has been limited to a period of time not to exceed calendar years'(see below). The date this designation expires Is . NOTE:This question addresses whether the resolution contains an expiration date for the designated area. B. The type of deduction that Is allowed in the designated area Is limited to: 1 . Installation of new manufacturing equipment; ❑Yes ❑ N o ❑ Enhanced Abatement per IC 6-1.1-12.1-16 2. Installation of new research and development equipment; 0 Yes ❑ N o Check box if an enhanced abatement was approved for one or more of these types. 3.installation of new logistical distribution equipment. ❑Yes ❑N o 4.Installation of new information technology equipment; ❑Yes 0 No C.The amount of deduction applicable to new manufacturing equipment is limited to$ cost with an assessed value of $ . (One or both lines may be filled out to establish a limit,if desired.) D.The amount of deduction applicable to new research and development equipment is limited to$ cost with an assessed value of $ , (One or both lines may be filled out to establish a limit,if desired.) E. The amount of deduction applicable to new logistical distribution equipment Is limited to$ cost with an assessed value of $ (One or both lines may be filled out to establish a limit,if desired.) F. The amount of deduction applicable to new information technology equipment is limited to 5 cost with an assessed value of $ . (One or both lines may be filled out to establish a limit,If desired.) G. Other limitations or conditions(specify) H. The deduction for new manufacturing equipment and/or new research and development equipment and/or new logistical distribution equipment and/or new Information technology equipment installed and first claimed eligible for deduction is allowed fon. ❑ Year 1 0 Year 2 ❑ Year 3 0 Year 4 ❑ Year 5 ❑Enhanced Abatement per IC 6-1.1-12.1-18 Number of years approved: ❑ Year 6 0 Year 7 0 Year 8 ❑ Year 9 0 Year 10 (Enter one to twenty(1-20)years,may not exceed twenty(20)years.) 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 0 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. Also we have 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 by:(signature and Mae of authorized member ofdasigna5ng body) Telephone number Date signed(month,day,year) ( ) Printed name of authorized member of designating body Name of designating body Attested by:(signature and Oa 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. 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 MAY 0 6 2020 BILL NO. 20-07 RESOLUTION NO. 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 316 E Monroe Street, South Bend, IN 46601 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A FIVE (5) YEAR REAL PROPERTY TAX ABATEMENT FOR WSJM-INC 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 316 E Monroe Street, South Bend, IN. which is more particularly described as: PARCEL I: A LOT OR PARCEL OF LAND 63 FEET IN LENGTH, NORTH AND SOUTH, TAKEN OFF OF AND FROM THE ENTIRE WIDTH OF THE NORTH END OF LOT NUMBERED SEVEN (7) AS SHOWN ON THE RECORDED PLAT OF GEORGE R. HUDSON'S SUBDIVISION OF A PART OF LOTS NUMBERED 19 AND 20 IN DENNISTON AND FELLOW'S ADDITION TO THE TOWN, NOW CITY OF SOUTH BEND, INDIANA, TOGETHER WITH THE WEST HALF OF THE VACATED ALLEY LYING EAST AND ADJACENT TO SAID PARCEL OF LAND. PARCEL II: A PART OF LOT NUMBERED NINETEEN (19)AS SHOWN ON THE RECORDED PLAT OF DENNISTON AND FELLOW'S ADDITION TO THE TOWN, NOW CITY OF SOUTH BEND, DESCRIBED AS BEGINNING AT THE NORTHWEST CORNER OF SAID LOT NUMBERED 19; THENCE SOUTH 63 FEET; THENCE EAST 66 FEET; THENCE NORTH 63 FEET; THENCE WEST 66 FEET TO THE PLACE OF BEGINNING, IN ST. JOSEPH COUNTY, INDIANA. PARCEL III: A LOT OR PARCEL OF LAND BOUNDED BY A LINE RUNNING AS FOLLOWS: BEGINNING AT THE SOUTHWEST CORNER OF LOT NUMBERED NINETEEN (19) AS SHOWN ON THE RECORDED PLAT OF DENNISTON AND FELLOW'S ADDITION TO THE TOWN, NOW CITY OF SOUTH BEND; THENCE EAST PARALLEL WITH THE SOUTH LINE OF MONROE STREET, A DISTANCE OF 116 FEET TO THE SOUTHEAST CORNER OF LOT NUMBERED 7 IN GEORGE R. HUDSON'S SUBDIVISION OF SAID LOT NUMBERED 19; THENCE NORTH PARALLEL WITH THE EAST LINE OF CARROLL STREET 36 FEET; THENCE WEST 116 FEET TO A POINT 36 FEET NORTH OF THE SOUTHWEST CORNER OF SAID LOT NUMBERED 19; THENCE SOUTH ON THE EAST LINE OF CARROLL STREET 36 FEET TO THE PLACE OF BEGINNING IN ST. JOSEPH COUNTY, INDIANA, TOGETHER WITH THE WEST HALF OF THE VACATED ALLEY LYING EAST AND ADJACENT TO SAID PARCEL OF LAND. PARCEL IV: A PARCEL OF LAND 33 FEET WIDE FRONTING ON CARROLL STREET 116 FEET DEEP BOUNDED BY A LINE RUNNING AS FOLLOWS: BEGINNING AT A POINT 36 FEET NORTH OF THE SOUTHWEST CORNER OF LOT NUMBERED NINETEEN (19) AS SHOWN ON THE RECORDED PLAT OF DENNISTON AND FELLOW'S ADDITION TO THE TOWN, NOW CITY OF SOUTH BEND; THENCE RUNNING DUE EAST 116 FEET TO AN ALLEY EXTENDING ALONG THE EAST SIDE OF LOT NUMBERED 7 AS SHOWN ON THE PLAT OF GEORGE R. HUDSON'S SUBDIVISION OF SAID LOT 19; THENCE DUE NORTH 33 FEET ON THE EAST LINE OF SAID LOT 7; THENCE WEST 116 FEET TO THE EAST LINE OF SOUTH CARROLL STREET; THENCE SOUTH ON THE EAST LINE OF SOUTH CARROLL STREET, 33 FEET TO THE PLACE OF BEGINNING, IN ST. JOSEPH COUNTY, INDIANA, TOGETHER WITH THE WEST HALF OF THE VACATED ALLEY LYING EAST AND ADJACENT TO SAID PARCEL OF LAND. PARCEL V: THE WEST 132 FEET OF LOT NUMBERED TWENTY (20) AS SHOWN ON THE RECORDED PLAT OF DENNISTON AND FELLOW'S ADDITION TO THE TOWN, NOW CITY OF SOUTH BEND, IN ST.JOSEPH COUNTY, INDIANA. PARCEL VI: A PARCEL OF LAND BEING LOTS FOUR(4), FIVE(5), SIX(6), EIGHT(8), NINE(9),AND TEN (10), AND A VACATED 10-FOOT WIDE ALLEY LYING ADJACENT TO SAID LOT 8, IN GEORGE R. HUDSON'S SUBDIVISION OF PARTS OF LOT 19 AND 20 IN DENNISTON AND FELLOW'S ADDITION, SOUTH BEND, INDIANA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS, VIZ: BEGINNING AT THE INTERSECTION OF THE SOUTH RIGHT-OF-WAY LINE OF MONROE STREET (82.5 FEET WIDE)AND THE WEST RIGHT-OF-WAY IN LINE OF COLUMBIA STREET(66 FEET WIDE), SAID INTERSECTION BEING THE NORTHEAST CORNER OF LOT 4 IN SAID GEORGE R. HUDSON'S SUBDIVISION; THENCE SOUTH 0°00'00" WEST (BEARING ASSUMED) ALONG SAID WEST LINE OF COLUMBIA STREET AND THE EAST LINES OF LOTS 4, 8, 9, AND 10 IN SAID SUBDIVISION, AMEASURED DISTANCE OF 264.76 FEET TO THE SOUTHEAST CORNER OF SAID LOT 10; THENCE NORTH 89°36'01" WEST, ALONG THE SOUTH LINE OF SAID LOT 10, A MEASURED DISTANCE OF 132.69 FEET TO THE SOUTHWEST CORNER OF SAID LOT 10; THENCE NORTH 0°10'35" WEST, ALONG THE WEST LINES OF SAID LOTS 10, 9, AND 8, AND SAID LINE PROJECTED, A MEASURED DISTANCE OF 150.11 FEET TO A POINT ON THE SOUTH LINE OF LOT 6 IN SAID SUBDIVISION; THENCE NORTH 89°56'26" WEST, ALONG THE SOUTH LINE OF SAID LOT 6, A MEASURED DISTANCE OF 15.86 FEET TO THE SOUTHWEST CORNER OF SAID LOT 6; HENCE NORTH 0°19'13" EAST, ALONG THE WEST LINE OF SAID LOT 6, A MEASURED DISTANCE OF 114.13 FEET TO THE NORTHWEST CORNER OF SAID LOT 6; THENCE SOUTH 89°50'14" EAST, ALONG THE NORTH LINE OF LOTS 6, 5, AND 4 IN SAID SUBDIVISION AND SAID SOUTH LINE OF MONROE STREET, A MEASURED DISTANCE OF 148.37 FEET TO THE POINT OF BEGINNING. THE RECORD DESCRIPTION DESCRIBED ABOVE IS THE SAME AS THE MODERNIZED DESCRIPTION IN A SURVEY PREPARED BY MICHAEL E. BRUNNER, P.E., P.S., INDIANA #LS8086003, DATED DECEMBER, 2007; SAID MODERNIZED DESCRIPTION IS MORE PARTICULARLY DESCRIBED AS FOLLOWS: A PART OF THE EAST HALF OF THE SOUTHWEST QUARTER OF SECTION 12, TOWNSHIP 37 NORTH, RANGE 2 EAST, PORTAGE TOWNSHIP, CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA, BEING PART OF LOTS 19 AND 20 OF DENNISTON AND FELLOWS ADDITION TO THE CITY OF SOUTH BEND, ALL OF LOTS 4, 5, 6, 7, 8, 9 AND 10 OF GEORGE R. HUDSON'S SUBDIVISION OF PART OF LOTS 19 AND 20 OF DENNISTON AND FELLOW ADDITION TO THE CITY OF SOUTH BEND, ALL OF THE ALLEY VACATED BY VACATION RESOLUTION 48 AND RECORDED IN MISCELLANEOUS RECORD R, PAGES 116 AND 117, AND ALL OF THE ALLEY VACATED BY ORDINANCE NO. 73284 AND RECORDED AS DOCUMENT #8411078, AND MORE PARTICULARLY DESCRIBED AS FOLLOWS: BEGINNING AT A FOUND 5/8" DIAMETER IRON PIN WITH A PLASTIC CAP (SURVEYOR - HARNER NO. 910032) AT THE INTERSECTION OF THE SOUTH LINE OF MONROE STREET WITH THE EAST LINE OF CARROLL STREET, AND THE NORTHWEST CORNER OF SAID LOT 19; THENCE ALONG THE SOUTH LINE OF MONROE STREET AND THE NORTH LINE OF SAID LOTS 4, 5, 6, 7 AND 19, PASSING A FOUND CROSS NOTCH AT 126.33 FEET, SOUTH 89 DEGREES 57 MINUTES 35 SECONDS EAST, 274.48 FEET (RECORD - EAST 121.10 FEET, EAST 5.10 FEET; AND SOUTH 89 DEGREES 50 MINUTES 14 SECONDS EAST, 148.37 FEET) TO A FOUND 5/8" DIAMETER IRON PIN WITH A PLASTIC CAP (SURVEYOR- HARNER NO. 910032)AT THE INTERSECTION OF THE SOUTH LINE OF MONROE STREET WITH THE WEST LINE OF COLUMBIA STREET, AND THE NORTHEAST CORNER OF SAID LOT 4; THENCE ALONG THE WEST LINE OF COLUMBIA STREET AND THE EAST LINE OF SAID LOTS 4, 8, 9, AND 10 SOUTH 00 DEGREES 10 MINUTES 03 SECONDS EAST, 264.80 FEET(RECORD-SOUTH 00 DEGREES 00 MINUTES 00 SECONDS WEST, 264.76 FEET)TO A FOUND 5/8" DIAMETER IRON PIN WITH A PLASTIC CAP (SURVEYOR - HARNER NO. 910032) AT THE SOUTHEAST CORNER OF SAID LOT 10, A POINT IN THE SOUTH LINE OF SAID LOT 20, AND THE INTERSECTION OF THE WEST LINE OF COLUMBIA STREET WITH THE NORTH LINE OF AN 11'WIDE ALLEY;THENCE ALONG THE SOUTH LINE OF SAID LOTS 10 AND 20, AND THE NORTH LINE OF SAID ALLEY, PASSING A FOUND 3/4" DIAMETER IRON PIPE AT 142.74 FEET, SOUTH 90 DEGREES 00 MINUTES 00 SECONDS WEST, 275.26 FEET (RECORD - NORTH 89 DEGREES 36 MINUTES 01 SECONDS WEST, 132.69 FEET; WEST 10.20 FEET; AND WEST 132.00 FEET)TO A SET CROSS NOTCH AT THE INTERSECTION OF THE SOUTH LINE OF SAID LOT 20 AND THE NORTH LINE OF SAID ALLEY WITH THE EAST LINE OF CARROLL STREET; THENCE ALONG THE EAST LINE OF CARROLL STREET, NORTH 00 DEGREES 00 MINUTES 11 SECONDS EAST, 264.99 FEET (RECORD - NORTH 264.00 FEET) TO THE BEGINNING. CONTAINING 1.6715 ACRES, MORE OR LESS. and which has Key Numbers 71-08-12-329-005.000-026, 71-08-12-329-001.000-026, 71-08-12-329- 002.000-026, 71-08-12-329-003.000-026, 71-08-12-329-006.000-026, 71-08-12-329-007.000-026, 71-08- 12-329-008.000-026 and 71-08-12-329-004.000-026 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 five (5) 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 - 100% 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