Confirming Tax Abatement - 926 N St. Peter St. Markus& Krupali Krusche 5yr. Real

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For the 2009, payable 2010 taxes: 18-5107-3773: $74.53 18-5107-3774: $66.82 (This information may be obtained from the St. Joseph County Treasurers office, 235-9531) 10. What is your best estimate of the after completion market value of the property: $480,000 11. No building permit has been issued for construction on the property in connection with the improvement in question as of the date of filing of this petition. The building permit may be issued after the South Bend Common Council has approved the Declaratory Resolution. (Tax abatement is not available if a building permit has already been issued). The signature below is verification of this statement. 12. List other anticipated public financing for the project, including any assistance to be sought or already authorized through the United States Department of Housing and Urban Development funds from the City of South Bend, South Bend Housing Authority, Housing Assistance Office, St. Joseph County Housing Consortium or other public financial assistance, including but not limited to public works improvements: not applicable 13. Describe how the property has become undesirable for or impossible of normal development because of a lack of development, cessation of growth, deterioration of improvements or other factors which have impaired values and prevent a normal development of the property: The neighborhood in which this property resides deteriorated badly throughout the 1970's, 1980's and 1990's.The area of Northeast neighborhood has been under developed and is susceptible to crime to due lack of quality development in the neighboring community. This has led to fast deterioration of the real estate value and also caused adversed reaction of no individual involvement in starting new or redevelopment projects for the area. The banks are skeptical of providing loans for new houses in the neighborhood due to issue related to market value of the property in the projected future. Houses such as the one we are building are necessary to bring revitalization in the community and to jump start growth in the neighborhood. The Notre Dame Avenue Housing Program, under which this residence is being built, was created specifically by the University of Notre Dame in cooperation with the City of South Bend to reverse this trend by encouraging new, high-quality residential development in the neighborhood, which supports housing values and real estate taxes. 14. The current use of the property is vacant lot and the current zoning is housing (use). (This information may be obtained from the Building Department 235-9553) 15. The property is located in the following Allocation Area (if any) declared and confirmed by the South Bend Redevelopment Commission (requiring approval of the tax abatement by the Redevelopment Commission): Designated redevelopment area of the Northeast Neighborhood as identified by the South Bend Redevelopment Commission. 16. The following person should be contacted as the petitioners agent regarding additional information and public hearing notifications: Name Markus Krusche -, L3 3 Address 306 Bond Hall, 1~ `' City Notre Dame State IN Zip 46556 Telephone 574 303 8577