A tax abatement for a senior living facility will be considered at a public hearing of the St. Joseph County Council.
The council committee voted to send a petition from Diversified Real Estate LLC for Main Street South Bend LLC for a three-year, 100 percent property tax abatement at Tuesday's meeting.
This tax abatement request is not standard, according to attorney Pete Agostino. The default setting for a three-year tax abatement in Indiana is 100 percent relief the first year, followed by 66 percent the second year and 33 percent the third year.
Because of the $11 million investment, creation of up to 100 jobs and a potential average wage of about $32,000, they feel like the abatement is deserved.Agostino said the company is asking for the full 100 percent abatement for three years because they feel they meet criteria set forth in Indiana state legislation in 2011, which gives governing bodies, here the County Council, the ability to change the abatement.
"I think when you look at the statutes, it does weigh in favor of the project," Agostino said.
The project, a "next-generation living facility" called Mainstreet, was first heard at the Feb. 19 Area Plan Commission meeting. It will have a maximum capacity of 100 beds, with 70 reserved for skilled nursing rooms and 30 for long-term assisted living. The facility aims to provide more of a hotel-style experience, as opposed to a medical-style one, according to Laurie Schultz, director of development for Mainstreet.
The public hearing will be at the March 12 meeting of the County Council.
