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REGULAR MEETING March 14, 2016 <br />PROPERTY LOCATED AT THE TOWER AT <br />WASHINGTON SQUARE LLC <br />Councilmember Gavin Ferlic made a motion to adopt substitute Bill 16 -15. Councilmember <br />Karen White seconded the motion which was carried by a roll call vote of eight (8) ayes. <br />16 -16 A RESOLUTION MODIFYING AND CONFIRMING <br />THE ADOPTION OF A DECLARATORY <br />RESOLUTION DESIGNATING CERTAIN AREAS <br />WITHIN THE CITY OF SOUTH BEND, INDIANA, <br />COMMONLY KNOWN AS: 211 WEST WASHINGTON <br />STREET AS AN ECONOMIC REVITALIZATION <br />AREA FOR PURPOSES OF A TEN (10) YEAR REAL <br />PROPERTY TAX ABATEMENT FOR: PARKING <br />GARAGE LOCATED AT THE TOWER AT <br />WASHINGTON SQUARE LLC <br />Councilmember Gavin Ferlic made a motion to adopt substitute Bill 16 -16. Councilmember <br />Karen White seconded the motion which was carried by a roll call vote of eight (8) ayes. <br />16 -17 A RESOLUTION MODIFYING AND CONFIRMING <br />THE ADOPTION OF A DECLARATORY <br />RESOLUTION DESIGNATING CERTAIN AREAS <br />WITHIN THE CITY OF SOUTH BEND, INDIANA, <br />COMMONLY KNOWN AS: 211 WEST WASHINGTON <br />STREET AS AN ECONOMIC REVITALIZATION <br />AREA FOR PURPOSES OF A TEN (10) YEAR REAL <br />PROPERTY TAX ABATEMENT FOR: APARTMENTS <br />LOCATED AT THE TOWER AT WASHINGTON <br />SQUARE LLC <br />Councilmember Gavin Ferlic made a motion to adopt substitute Bill 16 -17. Councilmember <br />Karen White seconded the motion which was carried by a roll call vote of eight (8) ayes. <br />16 -18 A RESOLUTION OF THE COMMON COUNCIL OF <br />THE CITY OF SOUTH BEND DESIGNATING <br />CERTAIN AREAS WITHIN THE CITY OF SOUTH <br />BEND, INDIANA, COMMONLY KNOWN AS 215 <br />SYCAMORE STREET, SOUTH BEND, IN 46617 AN <br />ECONOMIC REVITALIZATION AREA FOR <br />PURPOSES OF AN (8) EIGHT -YEAR REAL <br />PROPERTY TAX ABATEMENT FOR EAST BANK <br />SOUTH BEND DEVELOPMENT, LLC <br />Councilmember Gavin Ferlic made a motion to adopt substitute Bill 16 -18. Councilmember <br />Karen White seconded the motion which was carried by a roll call vote of eight (8) ayes. <br />Aaron Kobb, Community Investment with offices on the 14th Floor of the County City Building, <br />served as the presenter for this bill. The project is a six story mixed use building. The total <br />private investment is approximately $2.5 million. The ground floor will be used for commercial <br />space with twelve (12) residential units on the floors above. The project will create two (2) new <br />net jobs and retain fourteen (14) jobs. The estimated taxes abated will be just over $234,000 and <br />the estimated taxes to be paid will be just over $346,000. <br />5 <br />