HomeMy WebLinkAboutBill No. 23-60 Confirming Resolution Vacant Building Tax Abatementfor Property Bros. LLCCOMMUNITY INVESTMENT
October 4, 2023
Council Member Rachel Tomas Morgan
Chairperson, Community Investment Committee
South Bend Common Council
County-City Building, 4th .Floor
South Bend, Indiana 46601
RE: Confirming 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 (8) residential
development real property tax abatement.
A representative from Property Bros LLC will be available to meet with the Committee on
Monday, October 9th , 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.
Sincerely,
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.southbendin.gov
BILL NO. 23-60