HomeMy WebLinkAboutReconfirming 211 W Washington St as an economic revitalization area for ten (10) year real property tax abatement for apartments at The Tower at Washington Square LLCAttest:
RESOLUTION
No. 4539 -16
Passed by the Common Council of the City of South Bend, Indiana
March 14, 1 20--L6—
City Clerk
President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana
. March 15, 20 16
City Clerk
Approved and signed by me `-",! 1121LWA r I ,' S 20L�L .
RESOLUTION NO.r`��.P
A RESOLUTION MODIFYING AND CONFIRMING THE
ADOPTION OF A DECLARATORY RESOLUTION
DESIGNATING CERTAIN AREAS WITHIN THE CITY OF
SOUTH BEND, INDIANA, COMMONLY KNOWN AS:
211 West Washington Street
AS AN ECONOMIC REVITALIZATION AREA FOR
PURPOSES OF A TEN (10) YEAR REAL
PROPERTY TAX ABATEMENT FOR:
APARTMENTS LOCATED AT
THE TOWER AT WASHINGTON SQUARE LLC
WHEREAS, the Common Council of the City of South Bend, Indiana, adopted Declaratory
Resolution No. 4506 -15 (the "Declaratory Resolution ") designating certain areas within the City
as Economic Revitalization Areas for the purpose of tax abatement consideration; and which was
adopted by the Council on October 27, 2015 and approved by the Mayor that same date.
WHEREAS, the Declaratory Resolution designated a portion of the property commonly
known as 211 West Washington Street, South Bend, Indiana, and which is more particularly
described as follows:
Lots 239 & 240 &
Vac Alley W & Adj
OP
and which is to be rehabilitated for use as apartments as an Economic Revitalization Area; and
WHEREAS, said property has been subdivided into four (4) separate tax parcels and the
legal description and Key Number for the parcel relating to the apartments is as follows:
That part of the Northwest Quarter of Section 12, Township 37 North, Range 2 East, Portage
Township, City of South Bend, St. Joseph County, Indiana which is described as: Apartment Unit
(R -1) as shown on the "Declaration of Horizontal Property Ownership, Washington Square
Condominium Horizontal Property Regime" as recorded by Document No. 1605719 on March 10,
2016 and those certain floor plans for the building recorded on the date of record of declaration as
Document No. 1605718 in the records of the St. Joseph County, Indiana recorder's office.
US.105007109.01
Subject to all legal easements, exhibits and restrictions of record for said Washington Square
Condominium Horizontal Property Regime..
Key Number 18 -1008- 032103
(said parcel being referred to hereinafter as the "Property "); 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, a copy of the notice of adoption of a Declaratory Resolution and a statement
containing substantially the same information as a statement of benefits filed with the Council has
been filed with each taxing unit that has authority to levy property taxes in the geographic area
pursuant to Indiana Code 6 -1.1- 12.1 -2.5; and
WHEREAS, the Council held a public hearing on March 14, 2016 for the purposes of
hearing all remonstrances and objections from interested persons; and
WHEREAS, the Council 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 modifies and confirms its Declaratory
Resolution to designate the Property 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
rather than the two (2) calendar year designation due to the size, scope and complexity of the
rehabilitation of the property.
SECTION II. The Common Council hereby determines that the property owner is qualified
for and is granted real property tax deduction for up to a period of ten (10) years as provided in the
alternate abatement scheduled below 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 s .
-2-
US. 105007109.01
Real Property
Year Abatement
1
100%
2
100%
3
90%
4
85%
5
85%
6
85%
7
85%
8
60%
9
60%
10
60%
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.
NOT
�,IlgI
US. 105007109.01
Member of the Common Council
Filed in Clerk's Office
MAR 14 2016
KAREEMAH FOWLER
CITY CLERK, SOUTH BEND, IN
227 W. JEFFERSON BOULEVARD
SUITE 1400 S.
SourH BEND, IN 46601 -1830
March 9, 2016
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: Tax Abatement Petitions for:
The Tower at Washington Square, LLC
Dear Council Member Ferlic:
PHONE: 574/235 -9371
FAX. 5741235 -9021
* *The provided information in this cover letter and accompanying documentation
are from the original packet provided to Council and is being included to Council
for informational purposes due to the time delay in bringing back the Confirming
Resolutions before Council for approval.
Please find the attached information pertaining to the vacant building and real property tax
abatement petitions for The Tower at Washington Square, LLC.
Department of Community Investment's summary report
➢ Copy of the petitions
➢ Statement of Benefits forms
➢ Supporting information.
The report contains the Department's findings relative to the above petitions. As detailed
in the accompanying Tax Abatement Report the petitioner is requesting exceptions to the
local ordinance as allowed by State law. A representative from The Tower at Washington
Square, LLC will be available to meet with the Committee on Monday, 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.
Sincerely,
Aaron Kobb
Director Economic Resources
Filed in Clerk's Office
MAR 0 9 2016
KARE MAH FOWEE —R
CITY CLERK, SOUTH PEND, IN
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOuRCEs
PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB
TAX ABATEMENT REPORT
TO: SOUTH BEND COMMON COUNCIL
FROM: AARON KOBB
SUBJECT: REAL PROPERTY TAX ABATEMENT PETITIONS FOR:
The Tower at Washington Square, LLC
DATE: March 9, 2016
Attached please find the petitions of The Tower at Washington Square LLC (the
"Petitioner "), seeking real property tax abatement for the real property within the City of
South Bend, Indiana, commonly known as 211 West Washington Street (the "Property ").
In order to permit Petitioner to increase the scope of the rehabilitation of the Property,
Petitioner requests that the Common Council rescind Resolution 4353 -14 adopted on April
28, 2014 by the Common Council and Resolution No. 4361 -14, adopted on May 12, 2014
by the Common Council which previously designated the Property as an Economic
Revitalization Area for the purposes of tax abatement and only for a period of two (2)
calendar years. As part of the increase in scope of rehabilitation, the Property shall be
subdivided into four (4) separate tax parcels based upon the designated use of each tax
parcel. The designated uses of the parcels shall be (i) a hotel; (ii) retail; (iii) parking garage;
and (iv) residential apartments. Upon the subdivision of the Property, the Petitioner expects
that each parcel will be owned by a separate entity, each affiliated with the Petitioner. The
Petitioner requests a vacant building deduction for the parcel designated for a hotel. At
this time, the Petitioner also requests a deduction for real estate improvements for the retail,
parking garage, and residential uses. The requested tax deduction for the hotel, retail,
parking garage and residential are set forth in the tax abatement schedule in each petition.
The Petitioner requests that the Common Council now consider the (4) four petitions filed
herewith and adoption of the related confirming resolutions.
The Common Council should note the following exceptions to the local ordinance being
requested for these petitions:
Tower — Hotel
➢ Standard designation for an Economic Revitalization Area is two years.
Petitioner is requesting this be three years.
➢ Project would qualify for a two year vacant building abatement. Petitioner
is requesting a ten year abatement.
➢ Petitioner is requesting a revised abatement schedule as detailed in the
accompanying Confirming Resolution.
PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES
PAMELA C. MEYER BRIAN PAWLOWSKI AARON KOBB
• Tower Retail
➢ Standard designation for an Economic Revitalization Area is two years.
Petitioner is requesting this be three years.
➢ Project would qualify for a six year real property tax abatement. Petitioner
is requesting a ten year real property abatement.
➢ Petitioner is requesting a revised abatement schedule as detailed in the
accompanying Confirming Resolution.
• Tower - Parking Garage
➢ Standard designation for an Economic Revitalization Area is two years.
Petitioner is requesting this be three years.
➢ Project would qualify for a three year real property tax abatement.
Petitioner is requesting a ten year real property tax abatement.
➢ Petitioner is requesting a revised abatement schedule as detailed in the
accompanying Confirming Resolution.
• Tower - Apartments
➢ Standard designation for an Economic Revitalization Area is two years.
Petitioner is requesting this be three years.
➢ Project would qualify for a nine year real property tax abatement. Petitioner
is requesting a ten year abatement.
➢ Petitioner is requesting a revised abatement schedule as detailed in the
accompanying Confirming Resolution
The Common Council should also note the following business case considerations for
allowing an exception to the local ordinance:
• The building is the most prominent building in downtown and requires substantial
investment to cure mechanical and structural deficiencies.
• The proposed use fits in with the overall plan for the downtown.
• The proposed deal structure requires no public cash investment.
PROJECT SUMMARY FOR THE FOUR REQUESTED ABATEMENTS
➢ Total project taxes during ten year abatement period— $5,825,917
➢ Estimated taxes being abated during ten year abatement period — $3,778;026
➢ Total taxes to be paid during ten year abatement period — $2,047,891
EMPLOYMENT IMPACT
Per the petitions, it is estimated that the total project will:
➢ Create 89 permanent, full -time jobs in the ten year abatement period, representing
a new annual payroll of $2,899,894
ABATEMENT QUALIFICATION
1. A review of the tax abatements previously granted, finds that the petitioner has
been granted or associated with a previous abatement.
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 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 does
not meet the qualifications for a ten year real property tax abatement under section
IC. 6- 1.1- 12.1 -4.8 and requests exceptions to the local ordinance.
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Staff Use Only
Please fill out the Public E3enefit Summery Information and add to the total from above.
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I) How do I pay my petition filing fee?
Your petition filingfee can be paid either in person or via mail to: Or online via paypal at.
City Clerk's office http: / /Southbendimgov /government/
Attn: Deputy City Clerk content /tax- abatement
227 West Jefferson Blvd. • Suite 400 S
South Bend, Indiana 4660I
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 CRED area, please check to see if you fall within the boundaries.
s
Legend e
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cge.o ot.ata lnal_ena
CREeD District Boundary
I
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 fundingmust 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 spentper 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 H i Y f0he
Department of Community Investment at 574.235.5842 or email at sheintze0southbendin gov
VFE L�riEFvG.F'C�L,:,FiN'u+'itt �'1' I�tisFL'+�y if OM
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i -r �� •�utD{
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i j ' Pptend 1
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Legend e
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cge.o ot.ata lnal_ena
CREeD District Boundary
I
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 fundingmust 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 spentper 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 H i Y f0he
Department of Community Investment at 574.235.5842 or email at sheintze0southbendin gov
VFE L�riEFvG.F'C�L,:,FiN'u+'itt �'1' I�tisFL'+�y if OM
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TAXPAYERCERTIFICATION
$tgnoftin x ►!Pn,wq _; 3lae Pse4 ped monbA'?dOr. '
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FOR USE OF 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
under IC 6-1:.1 -12.1, provides far the following limitations:
7designation
A. The designated area has been limited to a period or time not to exceed calendar years" (see below). The dale thi
expires is
B. The type of deduction that is allowed fn the designated area is limited lo:
1. Redevelopment or rehabilitation of real estate improvements 171 Yes ❑ No
2. Residentially distressed areas ❑ Yes 0 No
C. The. amount of the deduction applicable is limited to g
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 64.1 - 12.147? ❑ Yes Cl 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 tolalily of benefits Is sufliclent to Justify the deduction described above.
Approved (signature and fille ofouthorized member ofdesignating body)
Telephone number
Date signed (month, day, year)
Attested by (signature and We of aftester)
Designated body
`if the designating body Omits the time perlod.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- 12.14.
A. For residentially distressed areas, the deduction period may not exceed five (b) years.
8, 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), sic (6), or ten (10) years.
2. It 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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