HomeMy WebLinkAboutConfirming Tax Abatement - GLC Portage Prairie LLC Southeast corner of Adams Rd. & Dylan Dr. (8 Year Real Property)Attest.
RESOLUTION
4483 -15
Passed by the Common Council of the City of South Bend, Indiana
July 27,
15
20
Presented by me to the Mayor of the City of South Bend, Indiana
July 28 20 15
Approved and signed by me �`t I� as
City Clerk
President of Common Council
20-L31 .
City Clerk
RESOLUTION NO. TW—tS
A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY
RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS
Southeast corner of Adams Rd and Dylan Dr, South Bend, IN 46628
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF AN EIGHT (8) YEAR REAL
PROPERTY TAX ABATEMENT FOR
GLC Portage Prairie, LLC
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, a Declaratory Resolution designated the area commonly known as Southeast
corner of Adams Rd and Dylan Dr, South Bend, IN 46628 and which is more particularly described
as follows:
Nw 1/4 Sec 17 -38 -2E Ex Irr Tract Nw Cor & Ex 1.717 Ac to State & Ex 7 Ac +- for N/S Rd
& Ex 10.5 Ac +- Parcel 800' N of S Line & E of N/S Rd 06/07 Split to 014601 & 014602
16442CWD 1 -19 -06 Annxd 06 -07 per Ord #9587 -05 Split off 10.073 ac 07 -08 for Ptg
Prairie Minor pt of Lot 1& 09/10 7.413ac to Ptg Prairie Minor #2 & 10/11 8.15 ac to Ptg
Prairie Minor #3
and which has Key Number 025- 1009 -0146 be designated as an Economic Revitalization Area;
and
WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing
before the Council has been published pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and
WHEREAS, the Council held a public hearing for the purposes of hearing all
remonstrances and objections from interested persons; and
WHEREAS, the Council has determined that the qualifications for an economic
revitalization area have been met.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South
Bend, Indiana, as follows:
SECTION I. The Common Council hereby confirms its Declaratory Resolution designating the
area described herein as an Economic Revitalization Area for the purposes of tax abatement. Such
designation is for Real Property tax abatement only and is limited to two (2) calendar years from
the date of adoption of the Declaratory Resolution by the Common Council.
SECTION II. The Common Council hereby determines that the property owner is qualified for
and is granted a real property tax deduction for a period of (8) eight years as shown by the
attachment pursuant to Indiana Code 6 -1.1- 12.1 -17 and further determines that the petition, the
Memorandum of Agreement between the Petitioner and the City of South Bend, and the Statement
of Benefits comply with Chapter 2, Article 6, of the Municipal Code of the City of South Bend
and Indiana Code 6- 1.1 -12 gt seq.
SECTION III. This Resolution shall be in full force and effect from and after its adoption by the
Common Council and approved by the Mayor.
..NTEO -I —t, —1 J—
-- S
Member o mon Council
t=iled in Clerk's Office
04yy 0Lk . r� igrju, IN
227 W. JEFFERSON BOULEVARD
SUITE 1400 S.
SOUTH BEND, IN 46601 -1830
July 8, 2015
CITY OF SOUTH BEND PETE BUTTIGIEG, MAYOR
COMMUNITY INVESTMENT
SCOTT FORD, EXECUTIVE DIRECTOR
Council Member Gavin Ferlic, Chairperson
Community Investment Committee
South Bend Common Council
4th Floor, County City Building
South Bend, IN 46601
RE: Real Property Tax Abatement Petition for:
GLC Portage Prairie, LLC
Dear Council Member Ferlic:
PHONE: 574/235 -9371
FAx: 574/235 -9021
Please find the attached information pertaining to a real property tax abatement petition for
GLC Portage Prairie, LLC:
➢ Department of Community Investment's summary report
➢ Copy of the petition
A Statement of Benefits form
➢ Supporting information.
The report contains the Department's findings relative to the above petition. The total cost
for the construction is estimated at $7,250,000. The project meets the qualifications for an
(8) eight year real property tax abatement. A representative from GLC Portage Prairie,
LLC will be available to meet with the Committee on Monday, July 13, 2015.
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 -9339.
1erey,
2
Brock Zeeb
Director Economic Resources
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
JITM KAIN PAMELA C. MEYER CHRIS FIELDING BROCKZEEB
TAX ABATEMENT REPORT
TO: SOUTH BEND COMMON COUNCIL
FROM: BROCK ZEEB
SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR:
GLC Portage Prairie, LLC
DATE: July 8, 2015
On Tuesday, July 7, 2015, a petition from GLC Portage Prairie, LLC was received and
subsequently filed with the City Clerk for real property tax abatement consideration for
property to be located at the southeast corner of Adams Rd. and Dylan Dr, South Bend, IN
46628. 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
➢ Construction of a new approximately 200,000 sq. ft. spec commercial/bulk
distribution facility (and related paving/parking and other improvements), for initial
lease to the South Bend Redevelopment Commission, in order to facilitate and
support efforts of the City of South Bend to (a) have move -in ready options for
prospective third -party businesses searching for commercial/distribution space in
the City, and (b) enhance the City's ability to attract and retain businesses and spur
future economic growth.
➢ $7,250,000 investment in new building construction
➢ Total project taxes during eight year abatement period — $1,882,530
➢ Estimated taxes being abated during eight year abatement period — $724,601
➢ Total taxes to be paid during six year abatement period — $1,157,930
EMPLOYMENT IMPACT
Per the petition, it is estimated that the total project will:
➢ Create (20) twenty, full -time and zero (0) permanent, part-time jobs within the first
three years, representing a new annual payroll of $748,800.
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
JmN KAIN PAMELA C. MEYER CHRIS FIEwm BROCK ZEEB
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted, finds that the petitioner has
been granted or associated with previous abatements.
2. The Building Commissioner has reviewed the petition and finds the property to be
properly zoned for the proposed project/ or a variance will be sought by the
petitioner.
3. A review of the South Bend Redevelopment designation areas finds that the property
is located in the River West Development Area.
4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner
meets the qualifications for an (8) eight -year real property tax abatement under
section 2 -84.2, Real Property Tax Abatement.
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City
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ofrSouth
xr Petition`for Incentives
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' Petition mustinclade a $2 0 fllmg fee payable to the tlty:Cler. s Office or online via the Cay s tvebsKe at
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http / /sauthbendm goyfgavemment /content /tax iafement.'.. processmg cdgbe complete;
lass
Legal name as registered wrth Secretary of, ,. GLC PORTAGE PRAIRIE, LLC
Business structure : Indiana limited liability company
Company web .site' please see website of affiliate al www.greallakescapilal . com
Proposed Project Information
aren
Proposetl project address t cuutpzny n ame
': TBD: BE Corner of Adams and Dylan Dr. P N/A
City, State, Lp L
South Bend, Indiana 46628
Legal owner" Waggoner's Dairy Farm, Inc.
Site acreage or acr¢ag_e regmred f -.; .
25.3 Acres I/-
Is ttie real estate owned or
� Owned
Sq`uare$eei of faabry
',
Approximately 200,000
if leased by whom
N/A
Primary Contact Information
Pdmwmpany conte""if name �tV _
`''
Ryan C. Pans.
Title Managing Member
Address of<amparty co'fitact yw.
.. ..
112 West Jefferson Blvd., Suite 200
Phone
(574) 251 -0400
South Bend, Indiana 46601
Ismail, rmns @greatlakescapital.com
Senior Official Information
Cd,npany semorofflaeC; name Jeff Smoke
7rtle :` Director of Development
A$ dressofcomp,anycontact (ifddferentfrdm:�
Phone -
-:
112 West Jefferson Blvd., Suite 200
_, . `,:..
- (574) 855 -5700
❑N Sate Zip : South Bend, Indiana 46601
Emad-jsmoke @greatlakescapital.com
Consultant Information/Agent
Pred6usmessw sultartt /agenthame c
. - - Richard Deahl, Bames &Thornburg
Consultantrelease
v
Atldress
Local economic develcipment partners
100 N. Michigan Street, Suite 700
a royal: N -
CiN State Zip - n Emad
South Bend, Indiana 46601 's rdeahl @bdaw.com
z waa L stir
Project Overview
Brief d'escnplian ofyour
"GLC "),
> «. v .= Great Lakes Capital ( the sponsor / affilate of GLC Portage Prairie, LLC, is real estate development firm with
cempayy project an4 rytha i,
experience in public - private development initiatives. The proposed project involves an investment of between $6.5 and
propertyi„s necessary for $8,0 million in the property acquisition, development and construction of a new approximately 200,000 square foot spec
eoanomwgrowth _ commerciallbulk distribution facility (and related paving /parking and other improvements), for initial lease to the South Bend
�:. Redevelopment Commission, in order to facilitate and support the efforts of the City of South Bend to (a) have move -in
Y ! ready options for prospective third -party businesses searching for commercial /distribution space in the City, and (b)
enhance the City's ability to attract and retain businesses. - -.
FiletL rk's Office
7
OO4D r&
CITY CLERK, SOUTH BEND, IN
CertifiedTedmologyPSrlcappropriate -j -•
N/A
comm. mN Rewtagzadon Enhancement'
N/A
Certify that the Bulldog Permk hasnottieen'
No permit issued
u'mber:ofres3enEW- offs
N/A
If this is a peddonfcrpersonal properlytax abatement ,hag .
'r. -the -ei menUbeen installed
N/A