HomeMy WebLinkAboutBill No. 23-58 Resolution Designating (8 YR) Real Property Tax Abatement for 542 N. Scott St., 430 Cottage Grove Ave., & 616 Sherman Ave._Property Bros LLCCITY OF SOUTH BEND
COMMUNITY INVESTMENT
September 20, 2023
Council Member Rachel Tomas Morgan
Chairperson, Community Investment Committee
South Bend Common Council
County-City Building, 4th Floor
South Bend, Indiana 46601
RE: Declaratory Resolutions (2): Vacant Building Tax Abatement and Multi-Family
Residential Development Real Property Tax Abatement for Property Bros LLC
Dear Council Member Tomas Morgan:
Please find the enclosed information pertaining to a tax abatement petition submitted by
Property Bros LLC, an Indiana Limited Liability Company. This petition package includes:
•Department of Community Investment's summary report
•Petition for abatement
•Statement of Benefits forms (SB-1 / VBD and SB-1 / Real Property)
•Supporting information
The report contains the Department's findings relative to the above-mentioned petition. The
petitioner intends to (a) renovate vacant residential properties at 542 N. Scott Street and 430
Cottage Grove Avenue and (b) build a new two-unit residential building at 616 Sherman
Avenue. The buildings on Scott Street and Cottage Grove Avenue have been vacant for several
years.
The total investment for this project is $930,000. The project meets the qualifications for two
abatements: a two-year (2) vacant building tax abatement and an eight-year (6) residential
development real property tax abatement.
A representative from Property Bros LLC will be available to meet with the Committee on
Monday, September 25, 2023.
If you or any of the other Council members have questions concerning the report or need
additional information, please feel free to call me at (574) 235-5838.
Erik Glavich
Director, Growth and Opportunity
EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT
14005 County-City Building 227W. Jefferson Blvd. South Bend, Indiana 46601 p 574.235.9371 www.southbencl,n.gov
BILL NO. 23-58