10-26-09 Common Council Meeting Agenda & Packet

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~~` 4~ STATEMENT OF BENEFI 15 ~~ ~``°~ REAL ESTATE IMPROVEtJIENTS x'" ~`; ~. State Form 51767 (R2 ! 1-07) ~'`~~~ 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) ^ Eligible vacant building (IC 6-1.1-12.1-4.8) 20_ PAY 20_ FORM SB-1 1 Real Property INSTRUCTIONS: 1. This statement must be submitted to the body designating the Economic Revitalization Area prior to the public hearing 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 fhe 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. (IC 6-1.1-12.1) 2. Approval of the designating body (City Council, Town Board, County Council, etc.) must be obtained prior to initiation of the redevelopment or rehabilitation, BEFORE a deduction may be approved. 3. To obtain a deduction, application Form 322 ERA/RE or Form 322 ERAA/BD, Whichever is applicable, must be filed with fhe CounlyAuditorby the later of.• (1) May 10; or (2) fhirty (30) days after the notice of addition to assessed valuation or new assessment is mailed to the property owner at the address shown on the records of the township assessor. 4. Property owners whose Statement of Benefrts was approved after June 30, 1991, must attach a Form CF-1/Real Property annually to the application to show compliance with the Statement of tenefits. jIC 6-1.1-12.1-5.1(b) and IC 6-1.1-12.1-5.3Q)] 5. The schedules established under IC 6-1.1-12.1-4(d) for rehabilitated property and under IC 6-1.1-12.1-4.8(1) for vacant buildings apply to any statement of benefits approved on or after July 1, 2000. The schedules effective prior to July 1, 2000, shalt continue to apply to a statement of benefrts filed before •• • ~ Name of taxpayer Equal Development, LLC Address of taxpayer (number and street, city, state, and ZIP code) 12557 Branford St, Carmel, IN 46032 Name of wntad person Telephone number E-mail address William J. Hollingsworth (317) 557-9442 whollingsworth(a~equaldev Name of designating body Resolution number City of South Bend Location of property County OLGF taxing district number 1630 Prairie Ave, South bend, IN 46614 (phase II) St. Joseph Description of real property improvements, redevelopment, or rehabilitation (use additional sheets if necessary) Estimated start date (month, day, year) 96 apartment units 08/01/2010 Estimated completion dzte (month, day, year) 08101!2011 •• • Current number Salaries Number retained Salaries . ~ . -. Number additional ~ Salaries 3.00 $86,959.00 3.00 $86,959.00 : 2.00 $48,000.00 •.•. ~ ~-. NOTE: Pursuant to IC6-1.1-12.1-5.1 (d) (2) the COST of the property REAL ESTATE IMPROVEMENTS is confidential. COST ASSESSED VALUE Current values 16.000.00 16.000.00 Plus estimated values of proposed project 8.016.000.00 Less values of any property being replaced 0.00 Net estimated values upon completion of project 8.000.000.00 ~ ~ ~ ~ ~ •~ ~ Estimated solid waste converted (pounds) Estimated hazardous waste converted (pounds) Other benefits _ ~ ~El~~} ~~ ~`(~~"~~~v' YflC.pr OCT i 3 2~~~ ae;i~l vo~~gL~i= CITY CLs"a;Y•, dO. BEI;a, Ill. • ,~. `° ; I hereby certify that the representations in this statement are true. Signature of authorized repre t ive Title - Oate signed (month, day, year) ~ Sole Member 10/12/2009 U ti ~-~ Page 1 of Z