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vm'e, t, Filed in Clerk's Office <br /> Q,,Lf :-. :-=-2:-_- i CITY OF SOUTH BEND SUN 1 6 2025 <br /> ' �% COMMUNITY INVESTMENT BiancaTirado <br /> City Clerk, South Bend, IN <br /> 6/16/2025 <br /> Council Member Troy Warner <br /> Chairperson, Community Investment Committee <br /> South Bend Common Council <br /> County-City Building, 4th Floor <br /> South Bend, Indiana 46601 <br /> RE: Declaratory Resolution: Multi-Family Development Real Property Tax Abatement <br /> Petition for KCG Companies, LLC <br /> Dear Council Member Warner, <br /> Please find the enclosed Declaratory Resolution and supporting information pertaining to a tax <br /> abatement petition submitted by KCG Companies, LLC, an Indiana Limited Liability Company. <br /> This petition package includes: <br /> • Department of Community Investment's summary report <br /> • Petition for abatement <br /> • Statement of Benefits form (SB-1 / Real Property) <br /> • Supporting information <br /> The report contains the Department's findings relative to the above-mentioned petition. The <br /> petitioner plans to construct a new affordable apartment building at 2020 S. Main Street. This <br /> proposed abatement is part of a support package partnering with KCG Companies, which is <br /> applying for rental housing tax credits through the Indiana Housing & Community Development <br /> Authority (IHCDA). The abatement will go into effect only if this project is chosen by IHCDA in <br /> this year's competitive Tax Credit application round. <br /> The total investment for this project is $14,000,000. The project meets the qualifications for an <br /> ten-year (10) multi-family real property tax abatement. <br /> A representative from KCG Companies, LLC, will be available to meet with the Committee on <br /> Monday, June 23, 2025. <br /> If you or other Council members have questions about the report or need additional information, <br /> please feel free to call me at (574) 245-6022. <br /> Sincerely, <br /> Joseph Molnar <br /> Assistant Director, Growth and Opportunity <br /> EXCELLENCE ACCOUNTABILITY INNOVATION INCLUSION EMPOWERMENT <br /> 14005 CountyCity Building 227W.Jefferson Blvd. South Bend.Indiana 46601 p 574.235.9371 www.southbendin.gov <br />