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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601-1830 <br />PHONE 574/ 235-9371 <br />FAx 574/235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY $L ECONOMIC DEVELOPMENT <br />JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPOR T <br />TO: SOUTH BEND REDEVELOPMENT COMMISSION <br />FROM: BOB MATHIA/~,~'V~' <br />SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />SNYDER CUSTOM HOMES, INC. <br />DATE: August 30, 2010 <br />On August 30, 2010, a petition for residential tax abatement consideration for real property located at 901 <br />and 909 North St. Peter Street (current consolidated address is 727 E. Corby Street) was filed with the City <br />Clerk by Snyder Custom Homes, Incorporated. Pursuant to Chapter 2, Article 6, Section 2-77.1 of the <br />Municipal Code of the City of South Bend, this petition was referred to the Department of Community and <br />Economic Development for purposes of investigation and preparation of a report determining whether the <br />area qualifies as a Residentially Distressed Area pursuant to I.C.6-1.1-12.1 and whether all zoning <br />requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition (a copy of which is <br />attached), investigated the area, and makes the following report. <br />PROJECT DESCRIPTION <br />Snyder Custom Homes intends to construct two new single family homes. Each home will be two stories. <br />One of the homes will contain approximately 2,850 square feet with three bedrooms and an attached two- <br />stall garage. The other home will contain approximately 3,000 square feet with four bedrooms, a finished <br />lower level and an attached two car garage. The cost of the two homes will be approximately $525,000 <br />each. Total taxes to be abated during the (5) five-year abatement period for one home are estimated at <br />$1,893.34. Total taxes to be paid during the (5) five-year abatement period for one home are estimated at <br />$27,602.30. Total taxes to be abated for the two homes are estimated to be $3,786.68. Total taxes to be <br />paid for the two homes are estimated at $55,204.60. <br />COMMUNITY DEVELOPMENT <br />PAMELA C. MEYER <br />574/235-9660 <br />Fnx: 574!235-9697 <br />ECONOMIC DEVELOPMENT <br />DONALD E. INKS <br />574/235-9371 <br />FINANCIAL Et PROGRAM <br />MANAGEMENT <br />ELIZABETH LEONARD <br />574/235-9371 <br />