The South Bend Common Council has approved a resolution concerning potential tax abatement for the renovation of the city's tallest building. The South Bend Tribune reports New York-based Washington Square Realty is planning to pump nearly $6 million into improving the 25-story Chase Tower. The publication reports council still needs to pass a confirming resolution regarding the incentives. That vote could take place May 12.
Washington Square Realty bought the property at a Sheriff's auction out of foreclosure last month.
Plans call for structural improvements including the heating and cooling system, elevators, facade and parking.
Source: The South Bend Tribune