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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 ~ ECONOMIC DEVELOPMENT <br />,JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPOR T <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: BOB MATHIA <br />SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />KRUSCHE, MARKUS & KRUPALI <br />DATE: September 22, 2010 <br />On September 21, 2010, a petition for residential tax abatement consideration for real property located at <br />926 North St. Peter Street was filed with the City Clerk by Markus and Krupali Krusche. Pursuant to <br />Chapter 2, Article 6, Section 2-77.1 of the Municipal Code of the City of South Bend, this petition was <br />referred to the Department of Community and Economic Development for purposes of investigation and <br />preparation of a report determining whether the area qualifies as a Residentially Distressed Area pursuant to <br />I.C.6-1.1-12.1 and whether all zoning 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 />Markus and Krupali Krusche intend to construct an approximate 2,400 square foot, single-family home as <br />their primary residence. The home will have two stories with a brick exterior. It will have three bedrooms, <br />two and one-half bathrooms, a great room, a study, a dining room, a small backyard patio and an unfinished <br />basement. The project is part of the Notre Dame Avenue Housing Program and as such will follow the <br />design specifications and standards required by that program. The cost of the home will be approximately <br />$450,000. Total taxes to be abated during the (5) five-year abatement period are estimated at $1,893. Total <br />taxes to be paid during the (5) five-year abatement period are estimated at $23,367. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM <br />PAnIELA C. MEYER DONALD E. INKS 1~IANAGEMENT <br />574/235-9660 574/235-9371 ELazAReTe LEONARD <br />FAX: 574/235-9697 574/235-9371 <br />