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souTx <br /> Filed in Cleat's Office <br /> SEP 0 5 2018 <br /> KAREEI+/MAH FOWLER <br /> CITY OF SOUTH B N <br /> COMMUNITY INVESTMENT <br /> JAMES MUELLER, EXECUTIVE DIRECTOR <br /> September 5,2018 <br /> Council Member Gavin Ferlic, Chairperson <br /> Community Investment Committee <br /> South Bend Common Council <br /> 4th Floor, County City Building <br /> South Bend„IN 46601 <br /> RE: Real Property Tax Abatement Extensions for: Historic JMS Building LLC,JSK <br /> Development Inc.,RDistrict One LLC,Imagineering Enterprises Inc.,Tower at <br /> Washington Square LLC. <br /> Dear Council Member Ferlic: <br /> As part of our annual review process, we have found the need for several extensions to the <br /> designation period for previously approved tax abatements. These extensions would not alter the <br /> length of the abatement itself, however. It has been a general practice, when granting a tax <br /> abatement, to allow a two-year designation period for the project to get underway, be completed, j <br /> and receive its higher reassessed value. The clock on the designation period starts when the <br /> abatement is granted by Council. Sometimes a project takes a bit longer to get underway and/or <br /> be completed, and sometimes the Assessor's office does not issue the reassessed value (and <br /> accompanying Form 11)within the two-year timeframe. For these situations (detailed below) the <br /> petitioners are asking Council to grant extensions of the designation period on the following tax ! <br /> abatements. y <br /> Attached please find proposed forms of resolutions modifying and reconfirming the adoptions of <br /> declaratory resolutions for Historic JMS Building LLC,JSK Development Inc.,RDistrict One <br /> LLC, Imagineering Enterprises Inc., Tower at Washington Square LLC which combined <br /> were granted a total of eleven real property tax abatements. <br /> DANIEL J.BUmwarEYER ALKmA ALDRIDGE PAMELA MEYER Tr f CORcoEAN <br /> BusmuS DEVELOPMENT ENGAGEMENT&ECONOMIC Et r owmm ENT NEIGHBORHOOD DEVELOPMENT PLANmNG&Commmm RESOURCES <br /> EXCELLENCE I ACCOUNTABILITY I INNOVATION I INCLUSION I EMPOWERMENT <br /> 14005 County-City Building 1227 W.Jefferson Blvd.I South Bend,Indiana 466011 p 574.235.93711 www.south.bendin.gov 4 <br /> J <br />