HomeMy WebLinkAbout4866-20 Designating Real Property Tax Abatement for Commonwealth Dev. Corp.RESOLUTION
No. 4866-20
Passed by the Common Council of the City of South Bend, Indiana
August 24, 20 20 .
Attest: X' L.
Dawn M. Jones
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
August 24, 20 20
Dawn M. Jones
Approved and signed by me ` ' 4 S+ t
ZO
City Clerk
Mayor
BILL NO. 20-26
RESOLUTION NO. 4866-20
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
505, 507, 511 and 513 S. Michigan Street, South Bend, IN 46601
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A NINE (9)
YEAR REAL PROPERTY TAX ABATEMENT FOR
Commonwealth Development Corporation of America
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 505, 507, 511 and 513 S. Michigan Street, South Bend, IN. which is more
particularly described as:
LEGAL DESC. TO BE ADDED
and which has Key Numbers 018-3017-0628, 018-3017-0629, 018-3017-0631, 018-3017-0632 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 I 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 nine (9) 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 - 95%
Year 4 - 90%
Year 5 - 85%
Year 6 - 80%
Year 7 - 75%
Year 8 - 70%
Year 9 - 65%
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.
Karen L. White, President
South Bend Common Council
ffiled it Clerk's Offi,
AUG 9 2020
L
L)ANiN M. JONES
CITY CLERK, SOUTH BEND It,
CITY OF SOUTH BEND
COMMUNITY INVESTMENT
August 19, 2020
Council Member Jake Teshka, Chairperson
Community Investment Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601
RE: Residential Real Property Tax Abatement Petition for: Commonwealth Development Corporation
of America
Dear Council Member Teshka:
Please find the attached information pertaining to a multi -family real property tax abatement petition
submitted by Commonwealth Development Corporation of America to build a new building at 505- 513
Michigan Street. The site has been vacant and underutilized for many years. This petition package includes:
➢ Department of Community Investment's summary report
➢ Petition
➢ Statement of Benefits form
➢ Supporting information.
The report contains the Department's findings relative to the above petition. The petitioner proposes to
complete 60 units of one- and two-bedroom apartments for seniors. The estimated project cost is
$8,741,520. The project meets the qualifications for a (9) nine-year real property tax abatement and a
representative from the company will be available to meet with the Committee on Monday, August 24,
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 Buckenmeyer
Director Business Development
EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT
14005 County -City Building 227W. Jefferson Blvd. South Bend, Indiana 46601 p574,235.9371 ww .southbendin.gov
BILL NO. 20-26
RESOLUTION NO.
Filed :tk's Office
i
AUG
L.
DAWN M. JONES
CITY CLERK, SOUTH BEND, IN
A RESOLUTION OF THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND DESIGNATING CERTAIN AREAS WITHIN
THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS
505, 507, 511 and 513 S. Michigan Street, South Bend, IN 46601
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A NINE (9)
YEAR REAL PROPERTY TAX ABATEMENT FOR
Commonwealth Development Corporation of America
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 505, 507, 511 and 513 S. Michigan Street, South Bend, IN. which is more
particularly described as:
LEGAL DESC. TO BE ADDED
and which has Key Numbers 018-3017-0628, 018-3017-0629, 018-3017-0631, 018-3017-0632 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:
Filed in Clerk's Office
AUG .I 9 2020
DAWN M. JONES
CITY CLERK, SOUTH BEND, IN
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 Ill. 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 nine (9) years as shown by the schedule
Filr-d in Clmk'8 Office
AUG 19 20217
outlined below as well as the attachment pursuant to Indiana Code 6 -11 -12.1 -PAWN M, JONES
CITY CLERK. SOUTH SEND, IN
Year I - 100%
Year 2 - 100%
Year 3 - 95%
Year 4 - 90%
Year 5 - 85%
Year 6 - 80%
Year 7 - 75%
Year 8 - 70%
Year 9 - 65%
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.
Karen L. White, President
South Bend Common Council
Filod it Clerk's Office
L AUG
DAWN M. JONES
CITY CLERK. SOUTH BEND, Ih
TAX ABATEMENT REPORT
TO: South Bend Common Council
FROM: Daniel Buckenmeyer, Director of Business Development
SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR:
Commonwealth Development Corporation of America
DATE: August 19, 2020
On Friday, August 7, 2020, a petition from Commonwealth Development Corporation of
America was received and subsequently filed with the City Clerk for real property tax
abatement consideration for a multi -family property on Michigan Street, South Bend.
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
➢ Build 60 units of one- and two-bedroom affordable apartments for seniors.
➢ By redeveloping that site, the senior housing project will not only serve the
community's seniors with a high-quality affordable housing option, it will also
serve as a catalyst for future investment into this area of the City.
➢ The estimated cost of the construction project is $8,741,520.
➢ New project estimated taxes to be paid during a nine-year abatement period —
$74,204
1 1 F a ,
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted, finds that the petitioner has not
been granted oris associated with any 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 a River West Development Area.
4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner
meets the qualifications for a (9) nine-year real property tax abatement under section
2-77, Multi -Family Residential Developments.
Filed in Clerk's Oifice
AUG .1, 9 2020
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Filed in Clerk's Offica
AUG i,9 Z020
DAWN M. JONE
CITY C
JS
r.
AUG i d M10
ity of South Bend
M
Petition for Incentives Cl!
PefldanmPdtInclude a$20,Mingfeepayable to the aly clerk's OJjlce armthle via me Cny's webrite of ,
htep://so'? bend/n.pav/gpvemmenr/[anrenVtaaabacementaeJme proresslnp can be rompleee
General Information Project Name ceyway Sdrd A -a -m Prolect Number
M,nname m, Mne hsmnian of Commonwealth Development Corporation of America
evamm,vn[pw. Corporation
`"ap1ny"'tlH6e www.commonwealthco.net
Proposed Project Information
erwaaedproryntl4m 505, 507, 511 and 513 S Michigan Pe..n'r P'dpum° Commonwealth Holdings, LLC
all, some, zip South Bend, IN 46601 1"aN OMa'a TBD
mean<ye «anean ngabN 0.7 Acres bMerralmmeannN« Owned
sb�r. reeoarewlw —76,000 ultmed erwnom Apartments will be leased
Primary Conlact Informa hm
PnnawmmPanymntaemm. Jonathan Nesburg VP of Development
Mdressormmpnvnnum 401Hall St SW, STE 112K p°On' 1231.360.7186
seat., up Grantl Ra Ids, MI 49503 6ei°
p Lnesburg[gtcommonwealthw.net
low,
Senior Official Information
tamppy anl«oMdalname
Krlsf Morgan I0 President
nmremmmavanv Pnntaa In dmnen`
7447 University Ave. Suite 210 608-824-2292
c",saw,aP Middleton, WI 53562 En10 I kmorgan@commonwealthco. net
Consultant Iflfermatiun/Agent
Mudd bbdnaw conmbnV.,dn, name consmnnt releavp/m
Md.
bOl<wnamle aael,ra.mpnners
Wao al IH
OIy.51 'ZI,
Finall
Project Overview
amid Plead,
mmpmy, pr*d, and wiry the
City Way Senior Apartments is applying for an award of Rental Housing Tax
Wdd.M" '"'^ °
Credits through the Indiana Housing and Community Development
emmm�nDmnth
Authority. The property proposes 60 units of one and two bedroom
apartments for seniors. By redeveloping the former Fat Daddy's site that
has sat vacant and underutilized for many years, the senior housing project
will not only serve the community's seniors with a high quality affordable
housing option it will also serve as a catalyst for future investment into an
area of the City that acts as a major gateway into the heart of downtown.
The investment will spurjobs, and continued investment in an area that has
been neglected for decades.
CeMlm RMndP,y PaM appmmlaw
<mewPj NNa nam<wm.nr.I rannaN Yes, River West Development Area
curry Mat Me,ullalna Permlthm wtbeen arcatlenWl°mba<aM br 60
Yes 1=
u
f Mb b a WlW n rw personal Pr°pnYua abtermm�. hit
MP. d mmf b.e•mytalla
Investment Details
PPbnc infno-.. nems len-
silo of «Diem In mlbnl
em any MndN, bran
r.Wd?
Vylutb U° value pf eny eaulp°eet bend P«MaaMn
for Me pjerti
Indiana Pr
y . b Me ymua of any Mulpment Mtn,
N p.sedh°mut
°°rd.tebr Me,,e¢7
F I!,,d i Clerk's Of
AUG 1*1 9 202 j
LAWN. M JONESJ
FIIPC . lerk'S UffiCe
AUG 9 2020
DAWN M. JONES
CITY CLERK, SOUTH SEND, IN
Complete below for Real or Personal Property Tax Abatement Costly.
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
you qualify for the points, Please enter the full amount of available
points.
(Y-aorfy Famed Points
Amilable Points
1
�orrttmttl-n Re191g9 iC4DttitWnl:
Local Companles175%)
Yes
20
20
e Materials from LoalCompanles p5%)
Yes
20
20
Employees vs. IndependentContncMrs
No
19
PrevalHW'iB
No
22
Health Benefits
M
Yes
22
22
Pemlan SeneRts
Yes
IB
18
AfBmmnWeANon Plan Yes 20
20
sob foal Construction Related:
100
141
2
Waeea B-nslNRelimo l0wnerl:
A. t Wage Coven
Yes
33
33
B. alth Benefits
Yes
34
34
C. Pension Berno0ts Yes, 29
29
D. aining
FProvldeCh1W
Yes
28
28
E. 1W Care
No
IS
F. nsportation Auistance
Nn
14
G.ployerAubted Housing pmgam
No
9
Swb wlWas-a BanMt Reload:
124
162
3
Workforce Relined:
A. Create NewJobs
Yes
42
42
B. Retaln EMsting Jobs
No
0
41
C. Malnain AfRrmallve Action Plan
35
35
D. Prwlde Targeted Hiring Preference
No
No
0
34
Subioul Worklars Related:
77
152
4
soonnaMunlc"FKIHN:
A'
Support a SB Municipal Facility (donations at e
too, conservatory, museum, Mi
Yes
84
ea
Nameof Faclllty
Library Renovation
u I Municipal FalNty:
Cor
84
Sub -total horn Above:
385
539
The undersigned ownnrls)of real property, located within the City of South Bend, herby petition the Common Council of the City
of South Bend for areal and/or peispnj property az abatement consideration and pursuant to I.C., 6-1.1-11.1-1, of egg., and
South Bend M1 idpal Code See. 2.76 in seg„ for this petition state the above.
Fi d in Clerk's Diifc-
AUG 'I 2020
i
uAWN M. JONES
CITY CLERK, SOUTH BEND. Ir
For Staff Use Only Below This line
wh., la Me moom, evened aaluel Aeg Matter. D-Gov.Owned
Penongnepn,:
What N the hadened aaeesa.e valuer Reei"'et,:
PrmnrlPropetry:
Met is lhr v. k,numhen far allspmpvT 018-3017-0628,018-3017-0629,018-3017-0631,018-3017-0632
What Is Ne tla dlrn N11[S adei
Prase amah. Gouge map and 2.1 v,W ofth s Words..
Phu eIla the amount of ml and pastured proper, oars Ileal proper, T.. Pe.a...I Propn, Taus.
paid lorthe 1.%a r.an whm.,Ko hr-
Yorone 0
ren7wo
Yem Thrae
Year Feu.
Tor Five
Please Oil 00 the following Public benefit Summary Infmmatlon and add to to"] ftmn ah ove.
orx Ppm% vw",
Public Benefit Item:
RIkalslemd:
5
A. Aedevelopa58e thathas Soedal Needs
49
R . Develop Baze1 on Unl Unxersl,Besearch
35
C. Achleve a Phydlol Element of a Plain
36 36
Subtotal Project Belated:
36 120
6
Su or Sle, ects looby value are tomulaxlxF.
A.1W 199%
25
6. 200%ta 299%
fib
C. 3W% to 399%
65
0. 400%and Over
52
Suhtotal Supe., Slae Ptgesa:
210
T
PaYFoemunkldallnlrasbucllxe:
A. Pay forOvenUing or Up"'din8
14
I Pay fo, 26-511%of E.I.mfito Cpol
26
c. Pay for 5175% of Extension Cast
39
0. Par kar 6100% of Went.. Cost
52
Suhtoul Infrastrunure Aelated:
131
To tel from Applicant Section:
385 539
Total ham Staff Section:
36 46l
Total Public Benefh Point:
I low
Filed in C e:rk's Okioe
AUG I d ZU'W
STATEMENT OF BENEFITS DAWN M. JOE I 2o_aav:p_
-. REAL ESTATE IMPROVEMENTS CITY CLERK, SOUTH BEND, IN
5W(a Fera 51/57 (RSI 10-14) FORM SEA r Real Property,
Prescribed by Me Depadmenl of t-onel Government Finance PRIVACYNOTICE
This Aslemem is being coropkled for real property Matti uall0es undo the following Indiana Code (check ane box): Any mantes, mnnmns the o•N
❑ Redevelopment or rehabfNlailon of real estate Improvements (IC 6-1 1-12,1-4) or the nmoa,h and.p.viac "sent
m Residentially rYsbessed area (IC &1.1-12.14.1) pPraeteP eNr wInaIrMUY smgoyeaaby au
I I awn II eoiAaaneal aw
INSTRUCTIONS:
aaq 12.1.S
1. TNsslafemenl must be Submitted to the badydes/gnaling the Ecsnomc Rewtahzahan Area pnw to the pubac heanng 1f Me designaHrg body requires
arlorme/inn tan the applcenf /n mapnp rs deuskn eboul whelharlo desgnete en Economic RevifNizeflonRma. Ofeeenv/se, MIS siafBmemmustb ,
submitted to Me designaHngbody BEFORE Mm redevelopment ormhobilitalbn ofma/pmperlyrerwh/ch Mepenon wishes to claim a ceeduchm
2. The slafementorbeneles form naWu subml9ed to the designating body and the arae MNignaled an economic revileazethn me bakes The, efebon of
Memdavekpmenfarmbab*taWnhrw hMepeaandes/mstoa21madeduclion
3. To colas, a dectudk-,, a Form 322ME must he Nod with line CounyAudifx"hm May 10 in the yewM which the add4lon to Massaed va/uathbo Is
Made or naf fatertlem body (30) days after The assessment notice ismaded h the property awnereg was maged eller ApN 10. Apmpedyownerwho
feAtd m gin a deduction appgrat/m within the pmsenbed desdlrro may like en epPgcallan between March 1 and,Yay 10 ofa subsagUaN year.
4. AprWady owner who files loathe decoction mustprovide the County Audgorand desgnating body with a Form CF-IrRealProperfy Tlmr-wm CF -Weal
Property shouMbe affachad to the Form 32ZPE when the deduNion 6 rot cW'med am/than updated anmr,4 /or each year Me deduction is epplemill,
/C 9.1.1-12.1-5.1(h)
S Far a Fane SB-1rReel Pm Lady, that is appmvad after June 30, 2013, The designating body is mquimd to esmbReh an abatement schedwe kr each
dedocfion AN vard. For a Form SB-IVAaw Property that is approved prior to Juy 1, 2013, the abatement schedule approved by the deslgm log body
mmelns /n elect. IC 61.1-12.1-12
ammonwealth Development Corporation of America
. a Imwnw ImasbarrrM~ ft war. m ztpawe/ —._
447 University Ave. Suite 210, Middleton, WI 53562
we, of wmecr P.I. �^lealwnenumEer EinW wona
Jonathan Nes6urg 231) 360-7186 ).nesburg@commonwealthco.net
PROPOSEDSFCTION 2 LOCATION AND DESCRIPTION OF
Nem• Wlw y
•wUSOnnumber
City of South Bend, Indiana
p1° unp LcF b.mq elsvim lumen,
505, 507, 511 and 513 S Michigan St. Joseph
auwpmaroa Pmperry momvementa. neo-wl•pmnr, orrwaamtlentuetl}aenlfMM9me•aaerYl tmataa emit 4ete (mo nM, day wean
• 9/16/2021 -.—I
ew construction of 60 affordable rental units targeting tenants at or below 80% of AMI e.m,w,aev,emua eaelmenm I
n,mae. lease. jam,.;. , ,.
57,694
Guarani wakes
Pluseallmated values orproilmed project
041445
I LasaveIMs o/any properly being replaced
_I
I
Nei esonat"I •ji,o s upon comoieiion of wotecl
_I
1,041,445
Estimated solld waste convened (pnurCs) _ -_ _
Esllmated hazardous waste converted (pounds)
III
mar bwa0m
SECTION.TAXPAYER CERTIFICATION
by certify I at the mpmsentaabns in this statement am true.
of aunpmnn%a a�Oil712maarapmaseraEworgan
p0st!
Authorized Agent
Page 1 of 2
File r, In Clerk's
AUG '19 2020
CITY CLERK, SOUTH BEND, IN
Fund in Clerk's Office
AUG
JhWN M. JONES
CITY CLERK, SOUTH BEND,
FOR USE OF THE DESIGNATING GODY
We Ind mal the applicant meals 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 imitations.
A. The designated area has been limited to a period of time not to exceed calendar years• (see below). The dale this designation
expires is
B. The type of deduction thatis allowed In the designated area is Ilmlted to:
1. Redevelopment or mhataHlallon of real estate Improvements ❑ Yes ❑ No
2 Residentially distressed areas C] Yes ❑No
C. The amount of the deduction applicable Is limited to b
D. Other Writers or conditions (apecsfyf
E. Number of years allowed: ❑ Year s [1 Year 2 C] Year 3 ❑Yew4 [3 Year 5(' see below)
❑ Year s ❑ Yew 7 0Yars ❑Yearg [3 Year 10
F For a statement of benefits approved soar June 3Q 2013, dict this designating body adopt an abatement schedule per IC 61.1-02.1477
Yes [] No
If yes, attach a copy of the abatement schedule to this forth.
If no, the dealgneting body is required to establish an abatement schedule before the deduction can be determined.
We have also reviewed the informatlon contained in the statement of benefit and find that the esdmales and expectations are reasonable and have
determined that the totality of banaAN Is sufficient to Dustily the deduction described shove.
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' If the elasIgnoting bady limits the time pedod during wNch an area Is an economlc revile zsllon ares, that limitation does not limit the lentil of 1l me a
taxpayer Is anit(Is d to receive a dedupten to a number of years that Is less than me number of years designated under IC 6-1.1.12.1-17.
A. For residentially distressed areas where the Form SB-VReal Propend was approved pdor to July 1, 2013, the deducllana established In IC
6-1.142.1.4.1 remain In eaed. The deduction period may not exceed five (5) years. Fora Form SB-jlReal Property that Is approved a8er 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) yawn. (See IC &1.1-121-17 below.)
B. For the redevelopment or rah inflImon of reel property where the Farm S&11Beat Property was approved plot to Jury$, 2013, the abatement
schedule approved by the designating body remains In eased. Fore Form S&1IReal Property that Is approved after June 30, 2013, the dealgnwing
body le required to establish an sbalemenlachedule for each deduction allowed. (See IC &1.1-12.1-17 below.)
]CO -1.1-12.1-17
Abatement schedules
Sao. 17. (a) A dealgnabng body may provide to a business that Is established In or allocated to a revllaloatlen area and met receives a deduction under
section 4 or 4.5 of this chapter an abatement schedule based an the following factors:
(1) The total amount of the laxpayees Investment In real and personal property.
(2) The number of new lull -time equivalent jobs created.
(3) The average wage of the new employees compared to the stale minimum wage.
(4) The lnirasbuolure requirements for the taxpayer's Investment.
(b) This subsection applies W a stefemenl of benefits approved after June 30, 2013. Adesignating body shell establish an abatement schedule
for each deductlon allowed under this chapter. An abatement schedule must specify the percentage amount of the deduction for each year of
the deduction. Ah abatement schedule may not exceed ten (10) years.
(c) An abatement schedule approved for a particular taxpayer before July 1,2013, remains In ededunfY the abatement schedule expires under
the tame of the resolution approving the taxpayees statement oflumefits.
Page 2 of 2
SITE PHOTOGRAPHS
Filed in Clerk'S Office
AUG 19 202.0
DAWN M. JONES
CITY Ot.ERK, SOUTH H_ SEND,
TOP: View looking southwest from intersection of E. Monroe Street and S. Michigan Street at northeast
corner of subject site
BOTTOM: View looking northwest from southeast corner of subject site
LEXINGTON REAETY SERVICES ��. an am Knee' Z in Gerd (N 6
TOP: View looking northeast from the southwest corner of the subject site
BOTTOM: View looking southeast from the northwest corner of the subject site
IEXINCTCN REALTY SERVICES :C5 °c' 411 va 51_-num:Mt.ttpr DI seiim R_rru tr, 7
i
Fled in Clerk's Office
AUG .I 9 ZOA
DAWN M. JONES
UTH BEND, IN
TOP: View south on S. Michigan Street with subject site on the right
BOTTOM: View north on S. Michigan Street with subject site on the left
LEXINGTON REALTY SERVICES
TOP: View east on E. Monroe Street with subject site on the right past building
BOTTOM: View west on E. Monroe Street at intersection with S. Michigan Street and subject site on the
left
11IINSTON REALTY SERVICES o