HomeMy WebLinkAboutCONFIRMING TAX ABATEMENT - Ontario Partners LLC - Lot 4 Portage Prairie Minor #5, South Bend, IN 46601 Ten (10) YR Real Porperty I
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STATE OF INDIANA, COUNTY OF ST. JOSEPH, ss:
I, Kareemah Fowler 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 4523-16
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND
CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING
CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA KNOWN AS LOT 4
PORTAGE PRAIRIE MINOR #5, SOUTH BEND, IN 46601 AS AN ECONOMIC
REVITALIZATION AREA FOR PURPOSES OF A TEN (10) YEAR REAL PROPERTY
TAX ABATEMENT FOR ONTARIO PARTNERS, LLC
ADOPTED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA,
JANUARY 11, 2016.
PRESENTED TO, APPROVED AND SIGNED BY MAYOR PETE BUTTIGIEG,
January 15, 2016.
ATTEST: TIM SCOTT, PRESIDENT OF THE COMMON COUNCIL
ATTEST: KAREEMAH FOWLER, 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 and affixed the official Seal of the City
of South Bend,St.Joseph County, Indiana,this (5 day of 20 ILO
Kareemah Fowler, IAMC
Clerk of the City of South Bend
St. Joseph County,Indiana
By:
eputy
RESOLUTION
No. 4523-16
Passed by the Common Council of the City of South Bend, Indiana
January 11, 20 16
Attest: Ri}(�vi City Clerk
Attest' President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
January 11, 20 16
City Clerk
Approved and signed by me g„,"7. k5nnayor
20
- ��' �
U No-
RESOLUTION NO. '1 5 2-3 - 1
A RESOLUTION CONFIRMING THE ADOPTION OF A
DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS
Lot 4 Portage Prairie Minor #5, South Bend, IN 46601
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR REAL
PROPERTY TAX ABATEMENT FOR
Ontario Partners, 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 Lot
4 Portage Prairie Minor#5, South Bend, IN 46601 and which is more particularly described
as follows:
LOT 4 PORTAGE PRAIRIE MINOR #5 16/17 NP#1787 03-19-2015
and which has Key Numbers 025-1010-017001 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(10) ten 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 et 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.
Member o the Co mon Counci
:._.. , (/tl � Its
oE Z015
F,,
Attest:
RESOLUTION
No. 4523 -16
Passed by the Common Council of the City of South Bend, Indiana
January 11, 20--L6—
Presented by me to the Mayor of the City of South Bend, Indiana
January 11, 20 16
City Clerk
President of Common Council
Approved and signed by me �PnrdG ,f 5 20_ .
City Clerk
0
Yjll No.
RESOLUTION NO.
A RESOLUTION CONFIRMING THE ADOPTION OF A
DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS
WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY
KNOWN AS
Lot 4 Portage Prairie Minor #5, South Bend, IN 46601
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR REAL
PROPERTY TAX ABATEMENT FOR
Ontario Partners, 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 Lot
4 Portage Prairie Minor #5, South Bend, IN 46601 and which is more particularly described
as follows:
LOT 4 PORTAGE PRAIRIE MINOR #5 16/17 NP #1787 03 -19 -2015
and which has Key Numbers 025- 1010 - 017001 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 (10) ten 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 et sea.
SECTION II1. This Resolution shall be in full force and effect from and after its adoption
by the Common Council and approved by the Mayor.
Member of the Common Council
227 W. JEFFERSON BOULEVARD
SUITE 1400 S.
SOUTH BEND, IN 46601 -1830
December 9, 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:
Ontario Partners, 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
Ontario Partners, LLC:
➢ Department of Community Investment's summary report
➢ Copy of the petition
➢ 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 $7,800,000. The project meets the qualifications for a
(10) ten year real property tax abatement. A representative from Ontario Partners, LLC
will be available to meet with the Committee on Monday, December 14, 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.
Sincerely,
r/c/Ze
Director Economic Resources
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
JITiN KAIN PAMELA C. MEYER CHRIS FIELDING BROCK ZEEB
TAX ABA TEMENT REPORT
TO: SOUTH BEND COMMON COUNCIL
FROM: BROCK ZEEB
SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR:
Ontario Partners, LLC
DATE: December 8, 2015
On Tuesday, December 8, 2015, a petition from Ontario Partners, LLC was received and
subsequently filed with the City Clerk for real property tax abatement consideration for
property to be located in the Ameriplex business park. 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
➢ Ontario Partners, LLC will construct a 165,000 sq. ft. facility to serve multiple
tenants. Approximately 45% (75,000 SF) of the facility will be pre - leased, leaving
approximately 55% (90,000 SF) to be marketed as available space that is ready for
an immediate user to the market place.
➢ $7,800,000 investment in new building construction
➢ Total project taxes during ten year abatement period — $2,402,391
➢ Estimated taxes being abated during ten year abatement period — $850,138
➢ Total taxes to be paid during ten year abatement period — $1,552,253
EMPLOYMENT IMPACT
Per the petition, it is estimated that the total project will:
➢ Create (15) fifteen, permanent full -time and zero (0) permanent, part-time jobs
during the ten year abatement period, representing a new annual payroll of
$468,000.
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
JITIN KAIN PAMELA C. MEYER CHRIS FIELDING BROCK ZEEB
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted, finds that the petitioner has not
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.
3. A review of the South Bend Redevelopment designation areas fords 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 a (10) ten -year real property tax abatement under section
2 -84.2, Real Property Tax Abatement.
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City of south Bend
7Hg
�4Spt
W
Petition for Incentives
5
Petition must include a $250 filing fee payable to the City Clerk's Office or online via the City's website at
received?
htfp.//southbendm.gov /government /content /fox - abatement before processing can be complete
tab'
No
N/A
Legal name as registered with Secretary of
Ontario Partners, LLC
Business structure Indiana Limited Liability Company
Company website Not Applicable
Proposed project address To be determined
Parent company name Not Applicable
City, State, Zip
South Bend, IN 46628
Legal owner Ontario Partners, LLC
Site acreage or acreage required
13 49
Is the real estate owned or Owned
Square feet of facility
Rei;6arV Contact Information
165,000
If leased by whom
Primary company contact name
Paul Phair
Title VP - Development
Address of company contact
227 S. Main Street, Suite 300
Phone 574 - 217 -4498
City, State, Zip South Bend, IN 46601
Email pphair @holladayproperties.com
Senior Official
Company senior official name
John Phair
Title President
Address of company contact (if different from
above)
Same as above
I
Phone
City, State, Zip
Consultant Information/Agent
Email
Hired business consultant/agent name Not Applicable
Consultant release (Y /N)
Address
Local economic development partners
approval Y N
City, State, Zip
Email
Project Overview
Brief description ofyour
The Ontario Building will be a 165,000 square foot industrial facility that will be constructed to serve multiple tenants.
company, protect, and why the
Approximately 45% (75,000 SF) of the facility will be pre - leased, leaving approximately 55% (90,000 SF) to be marketed as
property is necessary for
available space that is ready for an immediate user to the market place. Not only is this a development that provides an
economic growth
immediate impact by retaining, and also adding, jobs immediately, but it provides a new, modern and available industrial
space for a user to expand in this market. Due to the low levels of vacancy in industrial space in our area, we expect that
this space will be attractive to users both in and outside of our market as they will be able to move at a pace which will
support their growing operations.
Zai5
CI,
Certified Technology Park appropriate
No
Community Revitalization Enhancement
Pstrict
Yes
Certify that the Building Permit has not been
Yes
Number ofrestdential units aeated
Not Applicable
If this is a petition for personal property tax abatement, has
the equipment been installed
No
Am
Public Infrastructure needs (Off-
Has any 504 funding been
What is the value of any equipment being purchased in What is the value of any equipment being
site of protect in dollars)
received?
Indiana for the project? purchased from out ofstate for the project?
No
No
N/A
N/A
New Proiect investments
;,�alendar Year 2015 1 1 17 2018 2019 2020 2021 2022
Land Acquisition $ 337,250
Building Lease Payments
Building Purchase Costs
New Building Construction $7,800,000
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
TOTAL
Calendar Year Jobs retained
Total hourly
wage w/o
fringe or
bonuses
Cumulative # of net NEW full time
permanent lobs created at project
Hourly average wage, w/o Total training Total # to be
benefits or bonuses, of expenditure- trained - not
cumulative net newjobs not cumulative
cumulative
2015
83
50.000
0
NIA NIA N/A
2016
2017
15
S15.00
2018
2019
2020
2021
2022
2023
2024
2025
2026
Full time
Part time
Laborers
12
Technical
Managerial
2
Administrative
t
—VVNo--m—T%—e
t e individual responsible tor coordinating
WorkOne on recrmtin ?
with
NIA
Does your company have an EEO hiring poil"
Yes
Are you an EEO employers
Yes
Year
the last three
r •
years:
Please describe your commitment to
diversity and inclusion by detailing your
outreach and recruitment efforts for the last
three years as well as current policies
Full Time
Part Time
Full Tme
Part Time
Full Time
Part Time
Black
The tenant retaining joss is an EEO
Employer and maintains an affirmative
action plan as a government contractor
with the OFCCP.
Hispanic
Asian
Indian
Female
Other
Complete below .. Abatement
Please sign for all requested incentives.
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.
(Yes or N es or No)
Earned Points
Available Points
1
Construction Related (Contractom
A
Employ Local Companies (75 %)
Yes
20
20
B
Purchase Materials from Local Companies (75 %)
Yes
20
20
C
Require Employees vs Independent Contractors
Yes
19
19
D
Require Prevailing Wage (Davis Bacon)
Yes
22
22
E
Require Health Benefits
Yes
22
22
F.
Require Pension Benefits
No
18
G
Maintain Affirmative Action Plan
No
20
ISub-total Construction Related
103
141
2
Wage & Benefit Related (Owner)
A
Pay Target Wage Levels
Yes
33
33
6
Provide Health Benefits
Yes
34
34
C
Provide Pension Benefits
Yes
29
29
D
Provide Training
Yes
28
28
E
Provide Child Care
No
15
F
Provide Transportation Assistance
No
14
G
Provide Employer Assisted Housing prograrn
No
9
Sub -total Wage & Benefit Related
124
162
3
Workforce Related.
Create Neh Jobs
Yes
42
42
Retain ExistrngJObs
Yes
41
41
Maintain Affirmative Action Plan
Yes
35
35
D
Provide Targeted Hiring Preference
No
34
Sub -total Workforce Related
118
152
Support a Municipal Facility.
A
Support a 5B Municipal Facility (donations to the
zoo, conservatory, museum, etc.)
Yes
84
84
Name of Facility
Sub -total Municipal Facility:
84
84
Sub -total from Above
429
539
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 seg., and
South Bend Municipal Code Sec. 2 -76 et seg., for this petition state the above.
'SubmittedBy `" i Date:
f
What is the current assessed value?
Real Property:
$7,000.00
Personal Property
What is the projected assessed value?
Real Property:
$6,509,000
Personal Property
What is the tax key number for this project?
025 - 1010 - 017001
What is the six digit NAICS code
312110
Please attach a Google map and street view of the location
See Attached
Please list the amount of real and personal property taxes
paid for the last five years when applicable
Real Property Taxes
Personal Property Taxes
Year One
$293
Not Applicable
Year Two
Previous Owner
Not Applicable
year Three
Previous Owner
Not Applicable
Year-Four
Previous Owner
Not Applicable
Year Five
Previous Owner
Not Applicable
Staff Use
Please fill out the Public Benefit Summary Information
Only
and add to the total from above.
YorN Points Points
Public Benefit Item:
Project Related:
5
A
Redevelop a Site that has Special Needs
49
B
Develop Based on Local University Research
35
C
Achieve a Physical Element of a Plan
3 6C1
36
Sub -total Project Related
0
120
6
Super Size Projects (point values are cumulative).
A
100% to 199 %
25
B
200% to 299%
8
68
C
300% to 399%
S
65
D
400% and Over
S 2
52
Sub -total Super Size Projects
210
7
Pay for Municipal Infrastructure.
A
Pay for Oversizing or Upgrading
14
B
Pay for 26-50% of Extension Cost
26
C
Pay for 51 -75% of Extension Cost
39
D
Pay for 76 -100% of Extension Cost
52
Sub -total Infrastructure Related.
131
Total from Applicant Section
429
539
Total from Staff Section
A Z y
461
Total Public Benefit Points
a%= �f s
1000
1) How do I pay my petition filing fee?
Your petition filing fee can be paid either in person or via mail to: Or online via paypal at:
City Clerk's Office http: / /Soutlibetidin.gov /government/
Attn: Deputy City Clerk content /tax - abatement
227 West Jefferson Blvd. • Suite 400 S
South Bend, Indiana 46601
2) Certified Technology Park appropriate? (Page one, under project overview)
In the South Bend area there are only two Certified Technology Parks, Innovation Park and Ignition Park. If
your property is not located in either then the answer would be no.
3) Community Revitalization Enhancement District? (Page one, under project overview)
The map below outlines the CRFD area, please check to see if you fall within the boundaries.
4) Has any 504 funding been received? (Page one, under investment details)
504 Funding is a loan that come from the Small Business Administration. This funding must be applied for to be
received.
5) Total training expenditure - not cumulative (Page two, under full time Indiana resident positions)
The amount of money to be spent per year on training over the course of the project.
6) Total number to be trained - not cumulative (Page two, under full time Indiana resident positions)
The amount of people that you will train per year over the length of the project.
If you have any additional questions that are not addressed by this document, please contact Sarah Heinizelman in the
Department of Community Investment at 574.235.5842 or email at sheintzePsouthbendin.gov
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4) Has any 504 funding been received? (Page one, under investment details)
504 Funding is a loan that come from the Small Business Administration. This funding must be applied for to be
received.
5) Total training expenditure - not cumulative (Page two, under full time Indiana resident positions)
The amount of money to be spent per year on training over the course of the project.
6) Total number to be trained - not cumulative (Page two, under full time Indiana resident positions)
The amount of people that you will train per year over the length of the project.
If you have any additional questions that are not addressed by this document, please contact Sarah Heinizelman in the
Department of Community Investment at 574.235.5842 or email at sheintzePsouthbendin.gov
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STATEMENT OF BENEFITS
REAL ESTATE IiVIPROVEMENTS
Stale Form 61767 (R412 -13)
Prescribed by the Department of Local Government Finance
This 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)
20 PAY 20
FORM SBA I Real Property
PRIVACY NOTICE
The cost and any specific individual's
salary information Is confidential; the
balance of the filing is public record
per IC 6 1.1- 12.1- 5.1(c) and (d).
INSTRUCTIONS.
1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public healing if the designating body requires
information from the applicant In making its decision about whether to designate an Economic Revitalization Area. Otherwise, this statement must be
submitted to the designating body BEFORE the redevelopment or rehabilitation of real property for which the person wishes to claim a deduction.
Projects" planned or committed to after July 1, 1987, and areas designated after Juty 1, 1987, require a STATEMENT OF BENEFITS. (1C 6-1.1 -12.1)
2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prier to initiation of the redevelopment or
rehabilitation, BEFORE a deduction may be approved.
3. To obtain a deduction, a Form 3221RE must be filed 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 after the assessment notice Is mailed to the property owner if it was mailed afterApri110. If the property owner
misses the May 10 deadline in the initial year of occupation, he can apply between March f and May 10 of a subsequent year
4. Property owners whose Statement of Benefits was approved after June 30, 1991, must attach a Form CF- 11Real Property annually to the application to
show compliance with the Statement of Benefits. 11C 6 -1.1- 12.1- 5.1(b) and IC a-1. 1-12.1-5.30)].
5. The schedules established under IC 6 -1.1- 12.1 -4(ag for rehabilitated property apply to any economic revitalization areas designated after June 30, 2000,
unless an alternative deduction schedule is adopted by the designating body (IC 6-1.1- 12.1 -17). the schedules effective prior to July 1, 2000, shall
continue to apply to economic revitalization areas designated before July 1, 2000.
�S�tTION 1 TAXPAYER
INFORMATION
Name of taxpayer
Ontario Partners, LLC
Address of taxpayer (number and street, city, state. and ZIP code)
227 S. Main Street, Suite 300; South Bend, Indiana 46601
Name of contact person
Telephone number
E-mail address
Paul Phalr
( 574 t 2174498
pphair@holladayproperties.com
Name of designating body
Resolution number
South Bend Common Council
Location of property
County
DLGF taxing district number
Lot 4 - Portage Praine Minor Subdivision #5
Description of real property improvements, redevelopment, or rehabilitation (use addil onel
sheets if necessary)
Estimated start date (month. day, year)
March 1, 2016
The Ontario Building will be the construction of a 165,000 square fool industrial building in the Amedplex at Interstate 80190 industrial park.
Estimated completion date (month, day, year)
October 31, 2016
Cr Salaries Numberrelalned
-
Selene$ Nurrbc-sddaonal Salaries
=tn
55053
$50,000.00 (Average) 15
$15.00 per Four (Average)
�J r LA.Adl.lf..1.0."�'/ U.:Af:.l_5 e
• • • I k e i - - •
EC
REAL ESTATE IMPROVEMENTS
COST
ASSESSED VALUE
_
$7,000.00
Current values
Plus estimated values of proposed project
$7.ttoo,000
Less values of any property being replaced
so
Net estimated values upon completion of project
$7,800,000
o .LRo m 117;,r�r •l r a - s
Estimated solid waste converted (pounds) Not Appucac -
Estimated hazardous waste Converted (pounds) N.L Appl cable
Other benefits
i
nts
0
0
I hereby certify that the representations in this statement are true.
Signature of authorized representative ��
Title
✓P- bP+iP /a
Date signed (month, day, year)
iZ /-/// -,,-
Page 1 of 2
FOR OF DESIGNATING :OD
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
under IC 6 -1.1 -12.1, provides for the following limitations:
A. The designated area has been limited to a period of lime not to exceed calendar years' (see below). The date this designation
expires is
B. The type of deduction that is allowed in the designated area is limited to:
1. Redevelopment or rehabilitation of real estate improvements 13 Yes ❑ No
2. Residentially distressed areas ❑ Yes 0 No
C. The amount of the deduction applicable is limited to 5
D. Other limitations or conditions (specify)
E. The deduction is allowed for years' (see below).
F. Did the designating body adopt an alternative deduction schedule per IC 6 -1.1- 12.1 -17? ❑ Yes ❑ No
If yes, attach a copy of the alternative deduction schedule to this form.
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 is sufficient to justify the deduction described above,
Approved (signature and title of authorized member of designating body)
Telephone number
Date signed (month, day, year)
Attested by (signature and title of attester)
Designated body
" if the designating body limits the time period during which an area Is an economic revitalization area, it does not limit the length of time a taxpayer is
entitled to receive a deduction to a number of years designated under IC 6- 1.1- 12.1 -4.
A. For residentially distressed areas, the deduction period may not exceed five (5) years.
B. For redevelopment and rehabilitation or real estate improvements:
1. if the Economic Revitalization Area was designated prior to July 1, 2000, the deduction period is limited to three (3), six (6), or ten (10) years.
2. If the Economic Revitalization Area was designated after June 30, 2000, and is not in a residentially distressed area, the deduction period may not
exceed ten (10) years.
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