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REGULAR MEETING
<br />MARCH 13, 2017
<br />PURPOSES OF A �) SIX YEAR REAL
<br />PROPERTY TAX tATEMENT FOR GLC
<br />PORTAGE PRAIRIE III, LLC
<br />Jacob Alexander, the Department of Community Investment, with offices on the 14th Floor of the
<br />County -City Building, South Bend, IN, served as presenter of this bill. Mr. Alexander stated,
<br />Great Lakes, GLC Portage Prairie III, LLC is requesting a real pii6perty tax abatement. They are
<br />looking to invest $13,500,000 in construction to renew a three- hundred and fifteen (315) foot
<br />spec commercial distribution and light assembly facility, and related paving, parking, and other
<br />site improvements to serve and support the needs of commercial and distribution users
<br />considering South Bend as the business site. Once the abatement is completed, the project will
<br />generate roughly $303,750 in due tax revenue. Ii
<br />Mark Neal, Bradley Company Great Lakes Capital, 112 West Je erson Boulevard, Suites 200
<br />and 300, South Bend, IN, served as the petitioner of this bill. Mr. Neal stated, I come before you
<br />for this confirmatory resolution. Mr. Jeff Smoke, who was intend ng to be here this evening, had
<br />a cancelled plane and he asked if I would step up for this confirn
<br />the project continues, as Mr. Alexander just described: an over $
<br />three - hundred (300) jobs, adding an additional one - hundred (10(
<br />addition, as part of that investment — building a road to the site. l
<br />conversation about having to work with neighbors and making si
<br />facility that is going to be great for economic development and r
<br />some of the neighbors in the area, as well. This is an important d
<br />This being the time heretofore set for the Public Hearing on the
<br />opponents were given an opportunity to be heard.
<br />None from the public wished to speak in favor of or in
<br />Councilmember Gavin Ferlic made a motion to adopt Bill No.
<br />Davis seconded the motion which carried by a roll call vote of
<br />17 -11
<br />A RESOLUTION
<br />story resolution just to confirm
<br />3,000,000 investment, keeping
<br />jobs, and looking to —in
<br />snow there was prior
<br />-e that this is going to be a
<br />wect the needs and concerns of
<br />bill, proponents and
<br />to this bill.
<br />Councilmember Oliver
<br />(8) ayes.
<br />NFIRMING THE
<br />ADOPTION OF A PECLARATORY
<br />RESOLUTION DESIGNATING CERTAIN
<br />AREAS WITHIN THE CITY OF SOUTH BEND,
<br />INDIANA, COMMONLY KNOWN AS 321
<br />SOUTH MAIN STREET, SOUTH BEND, IN
<br />46601 AN ECONOMIC REVITALIZATION
<br />AREA FOR PURPOSES OF A (5) FIVE YEAR
<br />REAL PROPERTY TAX ABATEMENT FOR
<br />HIBBERD DEVELOPMENT, LLC
<br />Jacob Alexander, the Department of Community Investment, wit offices on the 14th Floor of the
<br />County -City Building, South Bend, IN, served as presenter of thi bill. Mr. Alexander stated,
<br />Hibberd Development, LLC is requesting a real property tax aba ment. They are looking to
<br />invest a little over $5,000,000 into an abandoned downtown building to be converted into a
<br />Mixed -Use development containing office, retail, and residential lispaces, including a street level
<br />green space and rooftop amenity, both of which are open to the public. Once the abatement is
<br />completed, the project will generate roughly $95,000 in annual tax revenue.
<br />Mark Neal, 1329 East Washington Street, South Bend, IN, served as the petitioner of this bill.
<br />Mr. Neal stated, What has been reported today is a $3,000,000 investment, which was the
<br />original amount we expected. The amount, as you noted, in the abatement application has now
<br />been increased to over $5,000,000. It's a significant project at a s gnificant cost. We are
<br />extremely excited about the building and what it will mean in ten as of a link, as we extend our
<br />downtown to the south and continue to provide, hopefully, opportunities for living, working, and
<br />enjoying here in South Bend.
<br />Councilmember Oliver Davis asked,
<br />N i I I
<br />What's the ti eframe to fin sh all of that?
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