HomeMy WebLinkAboutBill 16-13 Tax Abatement extension for LaSalle Apartments LLC227 W. JEFnRsoNBomEVARD
STATE 1400 S.
SouTH BEND, IN 46601.1830
March 3, 2016`
CITY OF SOUTH BEND PETE BUTTImIw, 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
PHONE: 574/235 -9371
Fnx: 574/235 -9021
RE: Real Property Tax Abatement Extension for: The LaSalle Apartments, LLC
Dear Council Member Ferlic:
On March 10, 2014, Great Lakes Capital Development was granted declaratory resolution
number 4327 -14 for a 10 year real property tax abatement for work to be completed at The
LaSalle Hotel. Confirming resolution number 4330 -14 was passed on March 24, 2014.
The project never materialized and RealAmerica Development, LLC, operating as The
LaSalle Apartments, LLC, purchased the property and began revitalization work to the
building. On January 21, 2015, Real America Development, LLC was granted the transfer
of the original abatement. Per Section V of the original resolution #4327 -14: "The
designation as an Economic Revitalization Area shall be limited to two (2) calendar
years from the date of the adoption of this Resolution by the Common Council."
Due to the transfer of the original abatement, the work will not be completed during the
two year window, as noted above. The project is currently scheduled to be completed in
September 2016. We kindly request a one (1) year extension be granted, enabling the work
to be completed and for the abatement to remain active.
A representative from Real America Development LLC will be available to meet with the
Committee on March 14, 2016.
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 -5823.
s
Sincerely,
Filed in Clerk's Office
Aaron Kobb I
Director Economic Resources MAR 0 9 2016
KrRREEMAH FOWL
IL
RESOLUTION NO.
A RESOLUTION RECONFIRMING THE ADOPTION OF A
DECLARATORY RESOLUTION 4330 -14 DESIGNATING CERTAIN
AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA,
COMMONLY KNOWN AS
237 North Michigan Street, South Bend, IN 46601
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR REAL
PROPERTY TAX ABATEMENT FOR
The LaSalle Apartments 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 located at 237 North
Michigan Street, South Bend, IN 46601 and which is more particularly described as
follows:
Lot 10 P So Bend
Lot 2 & N 33.45'
Lot 30P
and which has Key Numbers 71 -08 -12 -107- 005.000 -026 and 71 -08 -12 -107- 006.000 -026
presently at this point in time, 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.
WHEREAS, the Council issued a Confirming Resolution confirming the adoption
of a Declaratory Resolution as Resolution No. 4330 -14 on March 24, 2014; and
WHEREAS, the petitioner has exceeded the two year designation period granted
in the Confirming Resolution, which expired on March 10, 2016; and continues to move
forward with the project with the full expectation of completion in 2016.
WHEREAS, the Petitioner has requested an additional period of time to complete
construction of the planned project. Due to the transfer of the abatement from the
previous developer, RealAmerica Development, LLC did not have a full two years to
complete the planned project.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of
South Bend, Indiana, as follows:
SECTION I. The Petitioner acknowledges that they have exceeded the two year
designation period granted in the Confirming Resolution due to the following:
A. This abatement approval was transferred to RealAmerica Development, LLC,
operating as The LaSalle Apartments, LLC, after the previous developer was
unable to move forward on the project. RealAmerica Development, LLC was
granted the transfer on January 21, 2015 and began construction on the building.
The project is currently scheduled to be completed in September 2016.
The Common Council hereby finds that the extension of the designation is appropriate in
light of the aforementioned reason noted above.
SECTION II. The Common Council hereby reconfirms its Declaratory Resolution and
its Confirming 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 three (3) calendar years from the date of
adoption of the Declaratory Resolution by the Common Council.
SECTION III. The Common Council hereby determines that the property owner is
qualified for and is granted Real property tax deduction for a period of ten (10) 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 IV. This Resolution shall be in full force and effect from and after its
adoption by the Common Council and approved by the Mayor.
PRCSEMS
F40T APROM
'ADOP7r,n
Member of the Common Council