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Home My WebLink About5066-24 Reconfirming Resolution: Real Property Tax Abatement for SBCC RE LLC and SBCC Development CorpRESOLUTION No. 5066-24 Passed by the Common Council of the City of South Bend, Indiana January 22, Attest: Bianc L. Tirado Attest: ma):„t, 24 20 City Clerk President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana January 23, 20 24 Bianc . Tirado Approved and signed by me J1110147 City Clerk 2021 . Mayor United States of America • APR 1 9 1UL4 **.,�,; .0 15 ►7 f ST.JOSEPH COUNTY ' ` ; 4,o ASSESSOR Certificate STATE OF INDIANA, COUNTY OF ST. JOSEPH, ss: I, Bianca L. Tirado, Clerk of the City of South Bend, County of St. Joseph, Indiana, hereby certify that the attached and foregoing is a full, true, and correct copy of RESOLUTION NO. 5066-24 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, MODIFYING AND RECONFIRMING THE ADOPTION OF DECLARATORY RESOLUTION NO. 4827-19 DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 7102 LINCOLN WAY WEST, SOUTH BEND, INDIANA, 46628 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX-YEAR (6) REAL PROPERTY TAX ABATEMENT FOR SBCC RE LLC AND SBCC DEVELOPMENT CORP. ADOPTED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, JANUARY, 22, 2024 PRESENTED TO, APPROVED AND SIGNED BY MAYOR JAMES MUELLER, JANUARY, 31, 2024 ATTEST: SHARON L. MCBRIDE, PRESIDENT OF THE COMMON COUNCIL ATTEST: BIANCA L. TIRADO, CITY CLERK the original of which is now on file in the office of the Clerk of the City of South Bend, St. Joseph County, Indiana. IN WITNESS WHEREOF, I have hereunto set my hand an affixed the official Seal.9f the City of South Bend, St. Joseph County, Indiana, this (11y day of Nph l 20 1)1 Bianca L. Tirado Clerk of the City of South Bend St. Joseph County, Indiana By: ice^'" a Deputy BILL NO. 24-03 RESOLUTION NO. 5066-24 A RESOLUTION MODIFYING AND RECONFIRMING THE ADOPTION OF DECLARATORY RESOLUTION NO. 4827-19 DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 7102 Lincoln Way West, South Bend, IN 46628 AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF A SIX -YEAR (6) REAL PROPERTY TAX ABATEMENT FOR SBCC RE LLC and SBCC Development Corp. WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Economic Revitalization Areas for the purpose of tax abatement consideration; and WHEREAS, Declaratory Resolution No. 4827-19 designated the areas described as: PART OF THE SOUTH HALF OF SECTION 30 AND PART OF THE NORTH HALF OF SECTION 31, ALL IN TOWNSHIP 38 NORTH RANGE 2 EAST GERMAN TOWNSHIP CITY OF SOUTH BEND, ST JOSEPH COUNTY, INDIANA, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF THE EAST HALF OF THE NORTHWEST QUARTER OF SAID SECTION 31; THENCE NORTH 0 DEGREES 06 MINUTES 42 SECONDS EAST ALONG THE WEST LINE OF THE SAID EAST HALF A DISTANCE OF 119.58 FEET TO THE SOUTHRIGHT OF WAY LINE OF US HIGHWAY 20 AND BEING THE POINT OF BEGINNING; THENCE ALONG THE SOUTHERLY RIGHT OF WAY LINE OF US HIGHWAY 20 THE FOLLOWING FOUR COURSES: SOUTH 61 DEGREES 09 MINUTES 12 SECONDS EASTA DISTANCE OF 119.03 FEET, SOUTH 60 DEGREES 59 MINUTES 44 SECONDS EAST A DISTANCE OF 20.03 FEET, NORTH 30 DEGREES 44 MINUTES 00 SECONDS EAST A DISTANCE OF 60.00 FEET, THENCE SOUTH 54 DEGREES 57 MINUTES 57 SECONDS EAST A DISTANCE OF 639.40 FEET; THENCE SOUTH 58 DEGREES 07 MINUTES 33 SECONDS WEST A DISTANCE OF 79.21 FEET; THENCE SOUTH 66 DEGREES 37 MINUTES 15 SECONDS WEST A DISTANCE OF 660.43 FEET; THENCE SOUTH 01 DEGREES 15 MINUTES 45 SECONDS EAST A DISTANCE OF 372.18 FEET; THENCE NORTH 89 DEGREES 26 MINUTES 45 SECONDS WEST DISTANCE OF 561.08 FEET TO THE EAST LINE OF LAND CONVEYED TO THOMAS H. KOSEL AND ROSEMARY J. BELL, CO -TRUSTEES OF THE BELL-KOSEL FAMILY 2016 REVOCABLE TRUST, AS DESCRIBED IN INSTRUMENT NUMBER 1622300, ST. JOSEPH COUNTY RECORDER; THENCE NORTH 00 DEGREES 51 MINUTES 53 SECONDS EAST ALONG SAID EAST LINE A DISTANCE OF 205.82 FEET; THENCE CONTINUING ALONG SAID EAST LINE NORTH 00 DEGREES 06 MINUTES 26 SECONDS WEST A DISTANCE OF 387.77 FEET TO THE SOUTHWEST CORNER OF LOT 2, AS SAID LOT IS KNOWN AND DESIGNATED ON THE PLAT OF KELLER AND HALL MINOR SUBDIVISION, INSTRUMENT NUMBER 9950876, ST. JOSEPH COUNTY RECORDER; THENCE SOUTH 89 DEGREES 33 MINUTES 41 SECONDS EAST ALONG THE SOUTH LINE OF SAID LOT 2 A DISTANCE OF 249.58 FEET TO THE SOUTHEAST CORNER OF SAID LOT 2; THENCE NORTH 00 DEGREES 05 MINUTES 12 SECONDS EAST ALONG THE EAST LINE OF SAID LOT 2, A DISTANCE OF 311.58 FEET; THENCE SOUTH 75 DEGREES 42 MINUTES 37 SECONDS EAST A DISTANCE OF 229.82 FEET; THENCE NORTH 13 DEGREES 51 MINUTES 50 SECONDS EAST A DISTANCE OF 225.00 FEET TO SAID SOUTHRIGHT OF WAY OF USHIGHWAY 20; THENCE SOUTH 61 DEGREES 04 MINUTES 30 SECONDS EAST ALONG SAID SOUTH RIGHT OF WAY A DISTANCE OF 24.33 FEET TO THE POINT 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, upon proper notice, a public hearing was held, after which the Common Council adopted Confirming Resolution No. 4828-19 on December 9, 2019, confirming the adoption of Declaratory Resolution No. 4827-19; and WHEREAS, SB QALICB Building LLC, an Indiana Limited Liability Company, was granted a three-year (3) designation period in Confirming Resolution No. 4828-19, which expired on November 25, 2022; and WHEREAS, the area designated as an Economic Revitalization Area by Declaratory Resolution No. 4827-19 was subdivided after the adoption of Declaratory Resolution No. 4827-19 and Confirming Resolution No. 4828-19 and is comprised of parcels now identified by Key Numbers 71-03-30-400-014.000-009, 71-03-30-400-017.000-009, 71-03-30-400-018.000-009, 71-03-30-400-019.000-009, 71-03-30-400-020.000-009, 71-03-30-400-021.000-009, and 71-03- 30-400-022.000-009; and WHEREAS, SBCC RE LLC, an Indiana Limited Liability Company, owns parcel identified by Key Number 71-03-30-400-018.000-009 and which was included as part of the area designated as an Economic Revitalization Area through adoption of Declaratory Resolution No. 4827-19; and WHEREAS, SBCC Development Corp., an Indiana Limited Liability Company, owns parcels identified by Key Numbers 71-03-30-400-014.000-009, 71-03-30-400-017.000-009, 71- 03-30-400-019.000-009, 71-03-30-400-020.000-009, 71-03-30-400-021.000-009, and 71-03-30- 400-022.000-009, and each of which was included as part of the area designated as an Economic Revitalization Area through adoption of Declaratory Resolution No. 4827-19; and WHEREAS, SB QALICB Building LLC, SBCC RE LLC, and SBCC Development Corp. are common entities with common ownership; and WHEREAS, the parcels owned by SBCC RE LLC, and SBCC Development Corp. collectively are the site of the new headquarters and manufacturing facility for the entity commonly known as the South Bend Chocolate Company; and WHEREAS, the parcels owned by SBCC RE LLC, and SBCC Development Corp. collectively are also the site of the new Indiana Dinosaur Museum; and WHEREAS, construction on the new headquarters and manufacturing facility for the South Bend Chocolate Company and on the Indiana Dinosaur Museum was delayed by the global pandemic and other issues outside of the control of SB QALICB Building LLC, SBCC RE LLC, and SBCC Development Corp.; and WHEREAS, completion of the project by end of the original designation period was not possible; and WHEREAS, the project will be completed in 2024; and WHEARAS, SBCC RE LLC and SBCC Development Corp., collectively, have requested to extend the designation period confirmed by Confirming Resolution No. 4828-19; and WHEREAS, the Common Council desires to reconfirm the designation of certain areas designated by Declaratory Resolution No. 4827-19 and confirmed by Confirming Resolution No. 4828-19 as an Economic Revitalization Area for purposes of a six -year (6) real property tax abatement; and WHEREAS, the Common Council desires to extend the designation period confirmed by Confirming Resolution No. 4828-19; and WHEREAS, the Common Council desires to transfer the abatement approval from SB QALICB Building LLC to SBCC RE LLC, and SBCC Development Corp. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The area designated as an Economic Revitalization Area by Resolution No. 4827-19 as adopted on November 25, 2019, and confirmed by Resolution No. 4828-19 as adopted on December 9, 2019, is deleted and in its place is inserted the area described as: Key Number: 71-03-30-400-014.000-009 Commonly Known As: 7002 Lincoln Way West Legal Description: Lot 4 South Bend Chocolate Company Minor 24/25 NP #489 2/21/2023 Key Number: 71-03-30-400-017.000-009 Commonly Known As: 7016 Lincoln Way West Legal Description: Lot 2 South Bend Chocolate Company Minor 24/25 NP #489 2/21/2023 Key Number: 71-03-30-400-018.000-009 Commonly Known As: 7102 Lincoln Way West Legal Description: Lot 1 South Bend Chocolate Company Minor 24/25 NP #489 2/21/2023 Key Number: Commonly Known As: Legal Description: 71-03-30-400-019.000-009 6912 Lincoln Way West Lot 5 South Bend Chocolate Company Minor 24/25 NP #489 2/21/2023 Key Number: 71-03-30-400-020.000-009 Commonly Known As: 2010 Pine Road Legal Description: Lot 6 South Bend Chocolate Company Minor 24/25 NP #489 2/21/2023 Key Number: 71-03-30-400-021.000-009 Commonly Known As: 1904 Pine Road Legal Description: Lot 7 South Bend Chocolate Company Minor 24/25 NP #489 2/21/2023 Key Number: Commonly Known As: Legal Description: 71-03-30-400-022.000-009 7152 Lincoln Way West Lot 3 South Bend Chocolate Company Minor 24/25 NP #489 2/21/2023 SECTION II. The Common Council hereby reconfirms Declaratory Resolution No. 4827-19 as amended by Section I of this Resolution and Confirming Resolution No. 4828-19 as amended by Section I of this Resolution for purposes of a six -year (6) real property tax abatement. SECTION III. The designation as an Economic Revitalization Area for purposes of a six -year (6) real property tax abatement expires on December 31, 2024. SECTION IV. The Common Council hereby determines that SBCC RE LLC and SBCC Development Corp., collectively, is qualified and is granted property tax deduction for a period of six (6) years as shown in Section VI of Declaratory Resolution No. 4827-19 and further determines that the petition, the Statement of Benefits, and the Memorandum of Agreement between SB QALICB Building LLC and the City of South Bend associated with Declaratory Resolution No. 4827-19 as adopted on November 25, 2019, and Confirming Resolution No. 4828-19 as adopted on December 9, 2019, comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12 et seq. SECTION V. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approved by the Mayor. Attest: Bi ca Tirado, C. ty rk Office of the City ' -rk Presented by me, the undersign City of South Bend, Indiana, on the o'clock 12 .m. 4 .m. SharoK{cBr ie, Council President South Bend Common Council lerk of the Cit of South Bend, to the Mayor of the day of at r , 2024, at v2-- Biang7a Tirado, lerk Office of the Citerk Jobs7IApproved and signed by me on the 3' S}day of , 2024, at ! f o'clock Jam Mueller, Mayor Cit of South Bend Filed in Clerk's Office MEMORANDUM OF AGREEMENT (REAL PROPERTY TAX ABATEMENT) JAN 1 .' 2024 CITYCLERK, SOUTH BEND, IN This Memorandum of Agreement (Agreement) dated as of January 17, 2024, serves as confirmation of a commitment by SBCC RE LLC, SBCC Development Corp., SB QALIC Building, LLC, and Indiana Dinosaur Museum Inc. (collectively, the "Applicant"), pending a January 22, 2024, public hearing, to comply with the project description, job creation and retention (and associated wage rates and salaries) figures contained in its petition, Statement of Benefits, and attachments and this Agreement. 1. Property Associated with the Abatement and Responsibilities of the Applicant. At the time of this Agreement, the property is located at 7102 Lincoln Way West, South Bend, IN 46628, and adjacent areas and has Key Numbers 71-03-30-400-014.000-009, 71-03-30-400-017.000-009, 71-03-30-400- 018.000-009, 71-03-30-400-019.000-009, 71-03-30-400-020.000-009, 71-03-30-400-021.000-009, and 71-03-30-400-022.000-009. Throughout the duration of the abatement, the Applicant shall promptly report any changes in the address or Key Number of the property receiving the abatement to the Department of Community Investment and to the Office of the City Clerk. Moreover, the Applicant also shall report any material changes or improvements made to the property subject to the abatement including changes as the result of subdividing, replatting, or otherwise. The Applicant agrees that failure to promptly report changes can result in a finding of noncompliance on behalf of the Applicant under the commitments of this Agreement. 2. Commitments of City and Applicant. Subject to the adoption of a resolution amending and reconfirming Declaratory Resolution No. 4827-19 and Confirming Resolution No. 4828-19 by the South Bend Common Council (the "SBCC"), the City of South Bend, Indiana, (the "City") commits to provide a six -year (6) real property tax abatement for the Applicant, based on the Applicant's commitment set forth in its Application. The Applicant commits to the following (the "Commitments"): (a) making total combined real property expenditures of no less than Six Million Three Hundred Thousand dollars ($6,300,000.00) for (i) the construction of a new production and office building for the South Bend Chocolate Company and (ii) the construction of the Indiana Dinosaur Museum at property identified in Section 1 of this Agreement; (b) retaining fifty-four (54) permanent full-time jobs with an total estimated annual payroll of One Million Nine Hundred Ninety Four Thousand Eight Hundred dollars ($1,994,800.00) (c) creating at least seventy (70) new full-time jobs with a total estimated annual payroll of One Million Six Hundred Seventy Four Thousand Four Hundred dollars ($1,674,400.00) within five years of the tax abatement; and (d) acting in good faith to complete the project as described in its Application. 1 3. Applicant's Compliance with City and State Laws, During the term of the abatement, the Applicant shall comply with Chapter 2, Article 6, of the South Bend Municipal Code, entitled "Tax Abatement Procedures," and all governing provisions of the Indiana Code. During the term of this abatement, the City may annually request information from the Applicant concerning the nature of the Project, the approved capital expenditure of the Project, the number of full-time permanent positions newly created by the Project, and the average wage rates and salaries (excluding benefits & overtime) associated with the positions, and the Applicant shall provide the City with adequate written evidence thereof within fifteen (15) days of such request (the "Annual Survey"). The City shall utilize this information and the information required to be filed by the Applicant in the CF-1 Compliance with the Statement of Benefits form to verify that the Applicant has at all times complied with the Commitments after the Commitment Date and during the duration of the abatement and for no other purpose. The Applicant further agrees to provide the City with such additional information as requested by the City to determine Applicant's compliance with the Commitments and with local and state requirements within twenty (20) days following any such request. Notwithstanding anything herein to the contrary, the Applicant acknowledges that the City may be required to disclose certain documents provided by the Applicant as required by a court order or applicable law. 4. Substantial Compliance and Rights of Termination. The City, by and through the SBCC, reserves the right to terminate the Economic Revitalization Area designation and associated property tax abatement deductions if it reasonably determines that the Applicant has not made reasonable efforts to substantially comply with all the Commitments, as defined in Section 2 of this Agreement, and the Applicant's failure to substantially comply with the Commitments was not due to factors beyond its reasonable control, as described in Section 5 below. 5. Factors Beyond Control. As used in this Agreement, factors beyond the control of the Applicant shall only include factors not reasonably foreseeable at the time of designation application and submission of Statement of Benefits which are not caused by any act or omission of the Applicant, and which materially and adversely affect the ability of the Applicant to substantially comply with this Agreement. Applicant has the burden to communicate to the City any such factors in which it believes is beyond its control and impacting its ability to fulfill the terms of this Agreement or any tax abatement benefit provided to the City. The City reserves the right to investigate the factors cited by Applicant under this Section 5 to the fullest extent possible and may deny Applicant's request upon the completion of the City's investigation. 6. Repayment of Tax Abatement Savings. If at any time during the term of this Agreement the Applicant shall: (a) be delinquent or in default with respect to any tax payment in St. Joseph County, Indiana; or (b) cease operations at the facility for which the tax abatement was granted; or (c) announce the cessation of operations at such facility, then the City may immediately terminate the Economic Revitalization Area designation and associated tax abatement deductions, and upon such termination, require Applicant to repay all of the tax abatement savings received through the date of such termination. 7. Notice/Hearing of Termination. In the event that the City determines that the Economic Revitalization Area designation and associated tax abatement deductions should be terminated or that all or a portion of the tax abatement savings should be repaid, it will give the Applicant notice of such determination, including a written statement calculating the amount due from the Applicant, and will 2 provide the Applicant with an opportunity to meet with the City's designated representatives to show cause why the abatement should not be terminated and/or the tax savings repaid. Such notice shall state the names of the person with whom the Applicant may meet and will provide that the Applicant shall have thirty (30) days from the date of such notice to arrange such meeting and to provide its evidence concerning why the abatement termination and/or tax savings repayment should not occur. If, after giving such notice and receiving such evidence, if any, the City determines that the abatement termination and/or the tax repayment action is proper, the Applicant shall be provided with written notice and a hearing before the SBCC before any final action shall be taken terminating the abatement and/or requiring repayment of tax benefits. The Applicant shall be entitled to appeal that determination to a St. Joseph County Superior or Circuit Court. 8. Repayment. In the event the City requires repayment of the tax abatement savings as provided hereunder, it shall provide Applicant with a written statement calculating the amount due (the "Statement"), and Applicant shall make such repayment to the City within one hundred twenty (120) days of the date of the Statement, If the Applicant does not make timely repayment, the City shall be entitled to all reasonable costs and attorneys' fees incurred in the enforcement of this Agreement and the collection of the tax abatement savings required to be repaid hereunder. 9. Voidance of Previous Agreement. This Agreement supersedes the Memorandum of Agreement dated December 2, 2019, as agreed to by SB QALIC Building, LLC, and the City. 10. Modification/Entire Agreement. This Agreement and the schedules attached hereto as Exhibit A contain the entire understanding between the City and the Applicant with respect to the subject matter hereof, and supersede all prior and contemporaneous agreements and understandings, inducements, and conditions, expressed or implied, oral, or written, except as herein contained. This Agreement may not be modified or amended other than by an agreement in writing signed by the City and the Applicant. The Applicant understands that any and all filings required to be made or actions required to be taken to initiate or maintain the abatement are solely the responsibility of the Applicant, 11. Waivers. Neither the failure nor any delay on the part of the City to exercise any right, remedy, power, or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy, power, or privilege preclude any other or further exercise of the same or of any other right, remedy, power, or privilege with respect to any occurrence or be construed as a waiver of such right, remedy, power, or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such waiver. 12. Governing Laws of Indiana. This Agreement and all questions relating to its validity, interpretation, performance, and enforcement shall be governed by the laws and decisions of the courts of the State of Indiana. 13. Applicant's Consent to Jurisdiction. The Applicant hereby irrevocably consents to the jurisdiction of the Courts of the State of Indiana and of the St. Joseph County Circuit or Superior Court in connection with any action or proceeding arising out of or relating to this Agreement or any documents or instrument delivered with respect to any of the obligations hereunder, and any action related to this Agreement shall be brought in such County and in such Court. 3 14. Notices. All notices, requests, demands, and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been received when delivered by hand or by facsimile (with confirmation by registered or certified mail) or on the third business day following the mailing, by registered or certified mail, postage prepaid, return receipt requested, thereof, addressed as set forth below: If to Applicant: SBCC Development Corp. 7102 Lincoln Way West South Bend, IN 46628 Attn: Mark Turner If to the City: City of South Bend, Indiana 227 W. Jefferson Boulevard, Suite 1400S South Bend, Indiana 46601 Attn: Executive Director of Community Investment 15. Assignment and Transfer Prohibited. This Agreement shall be binding upon and inure to the benefit of the City and the Applicant and their successors and assigns, except (a) that no party may assign or transfer its rights or obligations under this Agreement without the prior written consent of the other party hereto, in which consent shall not be unreasonably withheld, and (b) Applicant may assign and transfer its rights under this Agreement to the Permitted Assign without prior written consent. "Permitted Assign" means the affiliated single purpose entity created for purposes of designing, constructing, owning, operating, and maintaining the project which is the subject of this Agreement. 16. Valid and Binding Agreement. This. Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. By executing this Agreement, each person so executing affirms that he has been duly authorized to execute this Agreement on behalf of such party and that this Agreement constitutes a valid and binding obligation of the party. 17. Severability. The provisions of this Agreement and of each section or other subdivision herein are independent of and separable from each other, and no provision shall be affected or rendered invalid or unenforceable by virtue of the fact that for any reason any other or others of them may be invalid or unenforceable in whole or in part unless this Agreement is rendered totally unenforceable thereby. 4 18. No Personal Liability. No official, director, officer, employee, or agent of the City shall be charged personally by the Applicant, its employees, or its agents with any liabilities or expenses of defense or be held personally liable to the Applicant under any term or provision of this Agreement or because of the execution by such party of this Agreement or because of any default by such party hereunder. [Remainder of page intentionally blank.] 5 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. "Applicant" SBCC RE LLC SBCC Development Corp. SB QALIC Building, LLC Indiana Dinosaur Museum Inc. By: 7110a Mark Tamer President The South Bend Chocolate Company, Inc., a duly authorized member of SBCC RE LLC, SBCC Development Corp., SB QALIC Building, LLC, and Indiana Dinosaur Museum Inc. Approved as to Legal Adequacy and Form this ,?02/fte, day of -7u 47 , 2023. Counsel, South Bend Common Council Counsel for Applicant "City" City of South Bend, Indiana By: By: By: Sharon McBride President, South Bend Common Council Troy Warner Chairperson, Community Investment Committee Erik Glavich Department of Community Investment Jams Mueller Mayor EXHIBIT A Abatement Schedule Subject to the adoption by the SBCC of a resolution reconfirming the adoption of Declaratory Resolution No. 4827-19, the property owner is qualified for and is granted a real property tax abatement for a period of six (6) years as shown by the schedule outlined below. Year 1 - 100% Year 2 - 100% Year 3 - 100% Year 4 - 95% Year 5 - 95% Year6-90% 7