HomeMy WebLinkAbout26-23 Declaratory Resolution - Real Property Tax Abatement for GLC Mid-Bay, LLCCITY OF SOUTH BEND
COMMUNITY INVESTMENT
August 5, 2026
Council Member Karen White
Chairperson, Community Investment Committee
South Bend Common Council
City Hall, 3rd Floor
South Bend, Indiana 46601
Filed in Clerk's Office
Aug 5, 2026
Bianca Tirado
City Clerk, South Bend, IN
RE: Declaratory Resolution: Real Property Tax Abatement for GLC Mid -Bay, LLC
Dear Council Member White,
Please find the enclosed Declaratory Resolution and supporting information pertaining to a tax
abatement petition submitted by GLC Mid -Bay, LLC, an Indiana Limited Liability Company. This
petition package includes:
• Department of Community Investment's summary report
• Petition for abatement
• Statement of Benefits form (SB-1 / Real Property)
• Supporting information
The enclosed report includes the Department's findings regarding the above -referenced petition.
The petitioner proposes to construct a speculative industrial and warehouse building on Chet
Waggoner Court in the far northwest area of South Bend. The building is designed to
accommodate one or more tenants, and the petitioner has committed to ensuring that tenants
who pay property taxes receive the benefit of the tax abatement.
The total investment for this project is $8,800,000. The project meets the qualifications for an
eight -year (8) real property tax abatement.
A representative from GLC Mid -Bay, LLC, will be available to meet with the Committee on
Monday, August 10, 2026.
If you or other Council members have questions about 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
South Bend City Hall, Suite 500 215 S. Marlin Luther King Jr. Blvd. South Bend, IN 46601 p 574.235.9371 www.southbendin.gov
BILL NO. 26-23
RESOLUTION NO.
Filed in Clerk's Office
Aug 5, 2026
Bianca Tirado
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
V/L Chet Waggoner Ct
AN ECONOMIC REVITALIZATION AREA FOR PURPOSES OF AN
EIGHT -YEAR (8) REAL PROPERTY TAX ABATEMENT FOR
GLC Mid -Bay, LLC
WHEREAS, a petition for real property tax abatement consideration has been filed with
the City Clerk for consideration by the Common Council of the City of South Bend, Indiana,
requesting that the area described as:
Key Number: 71-03-17-100-002.000-009
Local Parcel Number: 025-1009-0146
Commonly Known As: V/L Chet Waggoner Ct
Legal Description: Lot 2 Portage Prairie Minor #8 1st Replat 20/21
#RP #850 4/25/19
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, the petitioner has agreed to and has accepted responsibility to report any
changes in the Key Numbers and legal descriptions 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, is 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 the area as an Economic
Revitalization Area for purposes of real property tax abatement.
SECTION V. The designation as an Economic Revitalization Area shall expire on December 31,
2028.
SECTION VI. The Common Council hereby determines that the property owner is qualified for
and is granted property tax deduction for a period of eight (8) 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 - 90%
Year 3 - 80%
Year 4 - 70%
Year 5 - 60%
Year6-50%
Year 7 - 40%
Year 8 - 40%
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.
Canneth J. Lee, Council President
South Bend Common Council
Attest:
Bianca L. Tirado, City Clerk
Office of the City Clerk
Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the
City of South Bend, Indiana on the day of , 2026, at o'clock .m.
.m.
Bianca L. Tirado, City Clerk
Office of the City Clerk
Approved and signed by me on the day of , 2026, at o'clock
James Mueller, Mayor
City of South Bend, Indiana
TAX ABATEMENT REPORT
TO: South Bend Common Council
FROM: Erik Glavich, Director, Growth and Opportunity
SUBJECT: Real Property Tax Abatement Petition for GLC Mid -Bay, LLC
DATE: August 5, 2026
Filed in Clerk's Office
Aug 5, 2026
Bianca Tirado
City Clerk, South Bend, IN
On August 5, 2026, a petition for tax abatement from GLC Mid -Bay, LLC, was filed with the
Office of the City Clerk. The petition seeks consideration for a real property tax abatement for
property located at Chet Waggoner Court in South Bend.
Pursuant to Chapter 2, Article 6, Section 2-84.9 of the Municipal Code of the City of South
Bend, the 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 Indiana Code 6-1.1-12.1 and whether all zoning requirements
have been met.
The Department of Community Investment has reviewed the petition, investigated the area, and
makes the following report.
Project Summary
• Great Lakes Capital, through GLC Mid -Bay, LLC, proposes to invest more than $8.8
million in the construction of a new speculative industrial/warehouse facility within the
Portage Prairie development area.
• The project will deliver a 132,620-square-foot warehouse/industrial building designed to
accommodate a range of users, with flexible suite sizes from approximately 11,000
square feet to the full building.
• The facility is intended to serve small- and mid -sized businesses seeking to locate in
South Bend or expand existing operations, helping strengthen the local industrial and
employment base.
• The building will complement more than 1.35 million square feet of existing industrial
space in the Portage Prairie development area by providing newer, smaller, and more
flexible industrial suites to serve the local market.
Employment Impact
According to the petition and supporting materials, the project is expected to create between 15
and 100 jobs, depending on the number and types of tenants secured by the petitioner. The
petitioner estimates that these positions will pay approximately $25 per hour.
Tax Estimates
The petitioner qualifies for an eight -year (8) real property tax abatement.
• Current estimated annual real property taxes: $763
• Estimated annual taxes after the project's completion: $309,170
• Total estimated combined taxes during the eight -year (8) abatement period: $2,473,363
o Estimated taxes being abated during the abatement period: $1,158,291
o Estimated total taxes to be paid during the abatement period: $1,315,072
Abatement Qualification
1. A review of the tax abatements previously granted found that the petitioner has been
granted the following prior abatements.
• Resolution No. 4483-15 (7/27/15): Eight -year (8) industrial development real
property tax abatement for property located at 5448 Dylan Drive granted to GLC
Portage Prairie, LLC
• Resolution No. 4610-17 (2/13/17): Nine-year (9) industrial development real
property tax abatement for property located at 5545 Chet Waggoner Court
granted to GLC Portage Prairie II, LLC
• Resolution No. 4621-17 (3/13/17): Six -year (6) industrial development real
property tax abatement for property located at 5555 Dylan Drive granted to GLC
Portage Prairie III, LLC
• Resolution No. 4783-19 (5/13/19): Six -year (6) industrial development real
property tax abatement for property located at 5565 Dylan Drive granted to GLC
Portage Prairie IV, LLC
• Resolution No. 4957-22 (6/13/22): Seven-year (7) industrial development real
property tax abatement for property located at 5910 Dylan Drive granted to GLC
Portage Prairie V, LLC
• Resolution No. 5033-23 (6/26/23): Nine-year (9) industrial development real
property tax abatement for property located at 5448 Dylan Drive granted to GLC
Portage Prairie, LLC
• Resolution No. 5116-25 (2/10/25): Eight -year (8) industrial development real
property tax abatement for property located at 445 N. Sheridan Street to GLC
Sheridan, LLC
2. The property is properly zoned for the proposed project.
2
3. Taxes on the property have been paid in full.
4. A review of the South Bend Redevelopment designation areas found that the property is
in the River West Development Area.
5. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets
the qualifications for an eight -year (8) real property tax abatement under Division 7, Sec.
2-82 (Industrial Development City -Wide General Standards) and Division 9, Sec. 2-84
(Council's Authority to Enlarge Real Property Tax Abatement General Standards).
3
8-Year Abatement
Type of Property:
Estimated Project Cost:
Properly Address.
Tax Key Number:
Tax Year / Pay Year
Assessed Value (AV)
Land
Stricture (100%AV of Project Cost)
South Bend
Speculative IndustriaVWarehouse
$ 8,800,000 New Construction
V/L Chet Waggoner Ct
71-03-17-100-002.000-009
Project Complete
Before Project No Abatement
2026 / Pav 2027 2027 / Pav 2028
GLC
MID -BAY,
LLC
(Other) •
2030 / Pav 2031 2031 / Pav 2032
2032 / Pay 2033
2033 / Pav 2034
August 5, 2026
2034 / Pav 2035
German Township .• Real Property Tax Abatement Schedule
With Abatement
2027 / Pav 2028 2028 / Pay 2029 2029 / Pav 2030
$ 33,100
-
$ 440,000 $ 440,000
8,800,000 8,800,000
$ 440,000
8,800,000
$ 440,000
8,800,000
$ 440,000 $ 440,000
8,800,000 8,800,000
$ 440,000
8,800,000
$ 440,000
8,800,000
$ 440,000
8,800,000
Gross Assessed Value 33,100
Abatement
Abatement Deduction -
Standard Homestead Deduction -
Supplemental Homestead Deduction -
Non -Homestead Standard Deduction (3,972)
9,240,000 9,240,000
100%
- (8,800,000)
- -
- -
, 9,240,000
90%
(7,920,000)
-
-
9,240,000
80%
(7,040,000)
-
-
9,240,000 9,240,000
70% 60%
(6,160,000) (5,280,000)
-
- -
- -
9,240,000
50%
(4,400,000)
-
-
9,240,000
40%
(3,520,000)
-
-
9.240,000
40%
(3,520,000)
-
-
-
Net Assessed Value 29,128
Properly Taxes
Assume constant tax rate of 4.8273%
Gross Tax (Tax Rate x Net AV) 1,406
Local Tax Credit (120)
Circuit Breaker Credit (523)
Supplemental Homestead Credit -
9,240,000 440,000
448,043 21,240
(38,126) (1,816)
(98,746)
- -
1,320,000
63,720
.
-
2,200,000
106,201
-
-
-
3,080,000 3,980,000
148,681 191,161
- -
-
- -
4,840,000
233,641
-
5,720,000
276,122
-
5,720,000
276,122
-
-
-
Taxes Due $ 763
$ 309,170 $ 19,425
$ 63,720
$ 106,201
$ 148,681 $ 191,161
$ 233,641
$ 276,122
$ 276,122
2%
Gout Breaker Cap 662
Debt Service(0.3480%ofNet AV) 101
3% 3%
277,200 277.200
31,970 1,522
3%
277,200
4,567
3%
277,200
7,612
3% 3%
277,200 277,200
10,857 13,702
3%
277,200
16,746
3%
277,200
19,791
3%
277,200
19,791
Max Tax Under the Cap
• This schedule is for estination purposes
true tax values wm utimatey be
763
309,170 278,722
281,767
284,812
287,857
290,902
293,946 296,991 296,991
City of South Eerie
C) Department of community imminentThe
Pay Year
Abatement
Estimated Pre-
Project Tax Liability
Projected
Additional Tax
Liability
Total Projected
Tax Uabi ity
(Current + Add")
Taxes Abated
Net Taxes Paid
2028
100%
$ 763
$ 308,408
$ 309.170
$ (289,746)
$ 19,425
2029
90%
763
308,408
309.170
(245.450)
63.720
2030
80%
763
308,408
309,170
(202,970)
106.201
2031
70%
763
308,408
309,170
(160,490)
148,681
2032
60%
763
308,408
309,170
(118,009)
191,161
2033
50%
763
308 408
309,170
(75,529)
233,641
2034
40%
763
308,408
309,170
(33,049)
276,122
2035
40%
763
308,408
309,170
(33,049)
276,122
Total:
8,102
2,487,281
2,473,383
(1,158,291)
1,315,072
ony and assumes constant fax rates equal to those for 2025 Payable 2026.
determined by the actual assessed valuation end the then current fax rates.
City of South Bend Instructions: Complete pages 1-3
"< <:
AND the proper Form SB-1 for
Petition for Incentives the type ofabatement(real
property or personal property)
Petition must include a $250 filing fee payable to the for which you are applying.
"City of South Bend" before processing can be complete
General Information
Project Name
Project Number
Legal name as registered with
Secretary of State
GLC MID -BAY, LLC
Business structure
Limited Liability Company
Company website
greatlakescapital.com
Proposed Project Information
Proposed project address
V/L Chet Waggoner Ct
Parent company name
Great Lakes Capital
City, state, zip
South Bend, IN, 46628
Legal owner
Site acreage or acreage required
Approximately 21 Acres
for leased?s the real owned
Owned
Owned
Square feet of facility
Approximately 132,620 SF
If leased, by whom?
Primary Contact Information
Primary company contact name
Ethan Fowler
Title
Development Associate
Address of company contact
7410 Aspect Drive, Suite 100
Phone
574-334-6659
City, State, zip
Granger IN, 46530
Email
efowler@greatlakescapital.com
Senior Official Information
Company senior official name
Jeff Smoke
Title
Managing Director
Address of company contact
(if different from above)
Phone
574-251-4400
City, State, Zip
Email
(smoke@greatlakescapital.com
Consultant Information/Agent
Hired business consultant/agent name I
Consultant release? (Y/N)
Address
Local economic development partners
approval? (Y/N)
City, State, Zip
Email
Project Overview
Brief description of your
company, project, and why the
property is necessary for
economic growth
Great Lakes Capital ("GLC") is the sponsor of GLC Mid -Bay, LLC
("Developer"). Developer is proposing to invest in the construction of a
speculative industrial building having a cost of over $8,800,000. The
"spec" industrial building will consist of an approximate 132,620 SF
warehouse/industrial building designed to serve a number of small -mid
sized businesses desiring to locate to South Bend (or otherwise remain in
this area for continued operations). The project can accommodate
businesses ranging from space needs of —11,000 SF all the way up to the
entire building. The project will complement previous buildings within
Portage Prairie (which total over 1,350,000 SF) by offering more modern,
smaller suite sizes that will be the first of its kind in the area.
Certified Technology Park approp late
N/A
Is the project in a Tax Incremental Financing
(TIF) area? If so, which?
Yes, River West
Have Building Permits been issued? (Y/N)
(Note -Not eligible for abatement if Yes)
No
Number of residential units created by
project
N/A
If this is a petition for personal property tax abatement, has
the equipment bean installed?
N/A
Investment Details
Public Infrastructure needs
(Off -site of project in dollars)
Has any SO4 funding been
received?
What is the value of any equipment being purchased in
Indiana for the project?
What is the value of any equipment being
purchased from out of state for the project?
None
No
TBD
TBD
New Proiect Investments
Calendar Year
Land Acquisition
Building Lease Payments
Building Purchase Cosb
New Building Construction
Existing Building Improvements
New Machinery & Equipment
Special Tooling/Retooling
New Furniture/Fixtures
New Computer/IT Hardware
New Software
On -site Rail Infrastructure
On -site Fiber Infrastructure
2024 2025 2026 2027 2028 2029 2030 2031
$ 792,000.00
$ 8,000,000.00
$ 2,800.000. 00
TOTAL
$ 0.00
$ 0.00
$ 8,792,000.00
$ 2,800,000.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
Full -Time Permanent Indiana -Resident Positions by Calendar Year
Calendar Year
Jobs retained
Hourly
avers °
CUMULATIVE 8 of net
NEW full
at
Hourly avera[ewage, w/o Total training
Total *to be
trained - not
cumulative
time permanent jobs created
project
P 1
benefits or bonuses, of expenditure -
cumulative net new jobs not
cumulative
b ege' w o
benefits or
bonuses
2026 0 $ 0.00
2027
2028 15-100+ (estimate)
$ 25.00
2029
2030
2031
2032
2033
2034
2035
2036
2037
Provide hourly wage information for new employees in the following positions.
Full time
Part time
Laborers
Technical
Managerial
Administrative
Who will be the individual responsible for coordinating
with WorkOne on recruiting?
N/A
Does your company have an EEO hiring policy?
Users will hire
Are you an EEO employer?
Please list the number of full time and part time minority and/or female
employees for the following years:
Please describe your commitment to
divinity and inclusion by detailing your
Year
2026
2025
2024
outreach and recruitment efforts for the last
three years as well as current policies.
Full Time
Part Time
Full Time
Part Time
Full Time
Part Time
Black
As a speculative
development, the
lessee/s are unknown.
Cannot provide current
employees.
Hispanic
Asian
Indian
Female
Other
Complete the table below for Real Property Tax Abatement only.
*** Sign at the bottom for all requested incentives (real AND personal property). ***
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.
Qualify
(Yes or No)
Earned Points
Available Points
1
Construction Related (Contractors):
A.
Employ Local Companies (75%)
Y
20
20
B.
Purchase Materials from Local Companies (75%)
Y
20
20
C.
Require Employees vs. Independent Contractors
Y
19
19
D.
Require Prevailing Wage
N
0
22
E.
Require Health Benefits
Y
22
22
F.
Require Retirement Benefits
Y
18
18
G.
Maintain Affirmative Action Plan
N
0
20
' Sub -total Construction Related:
99
141
2
Wage & Benefit Related (Owner):
A.
Pay Target Wage Levels
33
33
B.
Provide Health Benefits
Y
34
34
C.
Provide Retirement Benefits
Y
29
29
D.
Provide Training
Y
28
28
E.
Provide Child Care
N
0
15
F.
Provide Transportation Assistance
N
0
14
G.
Provide Employer Assisted Housing program
N
0
9
Sub -total Wage & Benefit Related:
124
162
3
Workforce Related:
A.
Create New Jobs
Y
42
B.
Retain Existing Jobs
N
0
C.
Maintain Affirmative Action Plan
N
0
35
D.
Provide Targeted Hiring Preference
N
0
34
Sub -total Workforce Related:
42
152
4
Support a Municipal Facility:
A
Support a SB Municipal Facility (donations to the
zoo, conservatory, museum, etc.)
Y
84
84
If 4A is "Y," then type Name of Facility (required if "Y"):
Seitz Park, Tree Canopy
' 'Sub -total Municipal Facility:
84 J` 84
Sub -total from Above:
349 1
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 sea., for this petition state the above.
Submitted By:
Jeff Smoke
Date:
8/3/2026
For Staff Use Only Below This Line
What is the CURRENT d value?
them:
$ 33,100 Real Property Improvements: I
$ 0
Personal Property:
What is the projected assessed value?
Real Property improvements: $ 8,800,000
Personal Property:
What is the six digit NAILS code?
N/A
What is the tax key number(s) for this project?
71-03-17-100-002.000-009
Please attach a Google map and street view of he location.
Please list the amount of real and personal property taxes
paid for the last five years when applicable.
Real Property Taxes:
Personal Property Taxes:
Tax Year 2025 / Pay 2026
$ 769.64
Tax Year 2024 / Pay 2025
$ 1,046.64
Tax Year 2023 / Pay 2024
$ 708.04
Tax Year 2022 / Pay 2023
$ 479.94
Tax Year 2021 / Pay 2022
$ 486.00
Please fill out the following Public Benefit Summary Information and add to total from above.
(Y or N)
Points
2c1011
Public Benefrt Item:
Protect Related:
5
A.
Redevelop a Site that has Special Needs
N
0
49
B.
Develop Based on Local University Research
N
0
35
C.
Achieve a Physical Element of a Plan
N
0
36
ISub-total Project Related:
0
120
6
Super Size Proiects (point values are cumulative):
A.
100% to 199%
Y
25
25
B.
200% to 299%
Y
68
i-8
C.
300% to 399%
Y
65
05
D.
400% and Over
v
52
52
'Sub -total Super Size Projects:
210
210
7
Pay for Municipal Infrastructure (point values are cumulative):
A.
Pay for Oversizing or Upgrading
N
0
14
B.
Pay for 26-50% of Extension Cost
N
0
26
C.
Pay for 51-75% of Extension Cost
N
0
39
D.
Pay for 76-100% of Extension Cost
N
0
52
I'Sub -total Infrastructure Related:
0
Total from Applicant Section:
349
539
Total from Staff Section:
210
461
Total Public Benefit Points:
559
1000
STATEMENT OF BENEFITS
REAL ESTATE IMPROVEMENTS
State Form 51787 (R8 i 5-25)
Prescribed by the Department of Local Goverment Finance
Th s statement is being completed for real property that qualifies under the following Indiana Code (check one box)"
Redevelopment or rehabilitation of real estate improvements (IC 6-1 1-12.1-4)
Residentially distressed area (IC 6-1 1-12.1-4.1)
New agricultural improvement (IC 6-1 1-12.1-4)
2026 PAY2027
FORM SB-1 I Real Property
PRIVACY NOTICE
Any information concerning the cost
of the property and specific salanes
paid to individual employees by the
property owner is confidential per
IC 6-1 1-12.1-1 1
NSTRUCTIONS
1 This statement must be submitted to the body designating the Ec000,mc Revitalization Area PRIOR to the public heanng if the designating body requires
information from the applicant in making its deasion about whether to designate an Economic Revitalization Area. Otherwise, this statement must be
submitted to the designabng body BEFORE the initiation of the redevelopment or rehabilitation of real property or a new agncultural improvement for
which the person wishes to claim a deduction
2. To obtain a deduction, a Form 322/RE must be fled 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 alter the atcPssment notice is marled to the property owner if It was mailed after Apol 10. A property owner who failed to
file a deduction application within the prescnbed deadline may file an application behveen January I and May 10 of a subsequent year
3. A property owner who files for the deduction must provide the county auditor and designating body with a Form CF- l/Real Property. The Form CF-
l/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 IC 6-1 1-12.1-5 1(b)
4 For a Form SB-1/Real Property that is approved alter June 30. 2013. the designating body is required to establsh an abatement schedule for each
deduction allowed
SECTION 1 TAXPAYER INFORMATION
Name of Taxpayer
GLC MID -BAY, LLC
Address of Taxpayer (number and street, city, state. and ZIP code)
7410 Aspect Drive, Suite 100
Name of Contact Person
Ethan Fowler
SECTION 2
Name of Designating Body
South Bend Common
Telephone Number
(574) 334-6659
OF PROPOSED PROJECT
Email Address
efowler@greatiakescapital.com
Resolution Number
LOCATION
Council
AND DESCRIPTION
Location of Property
NA_ Chet Waggoner Ct, South Bend, IN 46628)
County
St. Josepth
DLGF Taxing District Number
009 (South Bend -German)
71-03-17-100-002.000-009
Description of Real Property Improvement, Redevelopment, or Rehablitabon (use addlwnal sheets, if necessary)
Construction of a new speculative industrial/warehouse building of
approx.132,620 SF. serving 1 or more businesses depending on tenancy
Estimated Start Date (month, day year)
October 30, 2026
t'�orflat "ronraw)
Estrateclrth. day
February 1, 2028
SECTION 3
Current Number
0
SECTION 4
ESTIMATE
Salaries
$0
ESTIMATED
OF EMPLOYEES AND SALARIES
Number Retained
0
TOTAL COST AND
FROM PROPOSED
Salaries
$0
VALUE OF PROPOSED PROJECT
REAL
PROJECT
Number Additional
15
ESTATE IMPROVEMENTS
Salaries
$750,000
COST
ASSESSED VALUE
Current Values
0
0
(+) Plus Estimated Values of Proposed Prgect
8,800,000
8,800,000
(-) Less Values of Any Property Being Replaced
0
0
Net Estimated Values Upon Completion of Protect
8,800,000
8,800,000
SECTION 5
Estimated Solid Waste Converted
WASTE CONVERTED AND OTHER BENEFITS
(pounds) 0
PROMISED BY THE TAXP.AYER
Estimated Hazardous Waste Converted
(pounds) 0
Other Benefits
SECTION 6 TAXPAYER CERTIFICATION
I hereby certify that the representations in this schedule are true
Signature of A i .:
- .'•':NAbt(ve
Siiikt.
Date Signed (month, day. year)
August 3, 2026
. • - 4,,:: , firpO aeetabve
Title
Manager
Preded Name of •
Jeff Smoke
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
ender IC 6-1 1 12 1 provides for the following limitations
A The designated area has been limited to a penod of time not to exceed nla calendar years' (see below) The date this designation
expires is 12/31/2028 NOTE. This question addresses whether the resolution contains an expiration dale for the designated area.
B The type of deduction that is allowed in the designated area is limited tor_
t Redevelopment or rehabilitation of real estate improvements ,� Yes No
2 Residentially distressed areas ,_ Yes No
3 New agncuthxal improvement ,_ Yes No
C The amount of the deduction is limited to $ Ilia
D Other Imitations or conditions (specify) nla
E. Number of years allowed
Year 1 El Year 2 Year 3
� Year 6 El Year 7 Q Year 8
�Year4
Year 9
El Year 5 (' see below)
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 1-12.1-179
Q Yes El No
If yes, attach a copy of the abatement schedule to this form
tf 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 rs sufficient to justify the deduction descnbed above
Approved (signature and tale of authonzed member of desgnafag body)
Telephone Number
(574)
Date Signed (month, day year)
Printed Name of Authorized Member of Designating Body
Name of Designing Body
Attested by (sriature and Otte of attester)
Pnnted Narne of At CI
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 recerve a deduction to a number of years that is Tess than the number of years designated under IC 6-1 1-12.1-17
In accordance with IC 6-1 1-121-17 where the Forrn SB-1,Reel Property was approved after June 30, 2013, the designating body is required to
establish an abatement schedule for each deduction allowed The deduction penod should be as follows
A. For residentially distressed areas, the deduction period may not exceed ten (10) years
B For the redevelopment or rehabilitation of real property, the deduction penod may not exceed ten (10) years.
C. For a new agncultural improvement, the deduction period may not exceed five (5) years_
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 taxpayers investment
(5) In the case of a deduction for new farts equipment or new agricultural improvement, an agreement by the deduction applicant to
predominately use the area for agricultural purposes for a period specified by the designating body
(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
Except as provided in subsection (d) end section 18 of this chapter 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.
(d) An abatement schedule for new farm equipment or new agncuttural Ingo uvement may not exceed five (5) years
Page 2 of 2
Aerial and Street Views
View Looking Southeast from Chet Waggoner Court
Site Plan
"IIIU1111111II11I11111
IIIIIUIUHHHUIIlra
e ywr•.w� .+.• i� C Yi;�