18-29 Designating Residential Real Property tax Abatement: Historic Lincoln Way West Homes, L.P.

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Filed in Clerk's Office CITY OF SOUTH BEND,INDIANA JUL 0 2 2018 PETITION FOR RESIDENTIAL TAX ABATEMENT CONSID R Foot Eli CITY Q TH END,IN The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for Residential Real Property tax abatement consideration and pursuant to I.C., 6.1.1-12.1-1,et seq.,and South Bend Municipal Code Sec.2-76 et seg.,for this petition state the following: 1. Describe the proposed construction project, including information about square footage, number of rooms, number of stories, other amenities such as finished basements and garages, the amount of land to be used, the proposed use of the improvements, and a general statement as to the importance of the project(use additional sheet for long project descriptions): _This project will consist of 14 single family homes to be constructed in the area north of Lincoln Way West and west of Sherman St. The homes will have three or four bedrooms and 1,176 to 2,111 square feet. _Each home will have an unfinished basement and a two car garage. The project is important in order to improve the residential fabric and the property values of the surrounding neighborhood. 2. Estimate the dollar value of the construction project(do not include land cost):$ $3,495,750 3. The real property for which tax abatement consideration is petitioned(Property)is owned or to be owned by the following individual(s) or corporation(s) (if the business organization is publicly held, indicate also the name of the corporate parent, if any, and the name under which the corporation has filed with the Securities and Exchange Commission): Name Address Interest Historic Lincoln Way West Homes,LP 803 Lincoln WWa West,SB,IN 46616 stork Lincoln ay Homes,UP, LC'803 Lincoln way W est, 1 1 Equity Investor(to be determined) 99.99% *a subsidiary of South Bend Heritage Foundation 4. The commonly known address of the Property is: Seethe attached list (Exhibit D)_and having tax key no.: See the attached list ((Ex.D) (use additional sheet for multiple addresses or key numbers). 5. A legal description of said Property(s).is attached hereto,marked Exhibit A,and is incorporated herein. 6. A map and/or plat indicating the location of the Property(s) is attached hereto, marked Exhibit B, and is incorporated herein. 7. Photographs of the Property(s), taken within two (2) weeks of the filing of this petition, are attached hereto, marked Exhibit C,and incorporated herein. 8. The current assessed valuation of the property before construction is$ See Exhibit D use additional sheet for multiple addresses). (Information may be obtained from the St Joseph County Assessor's Office,235.9523). 9. List the real property taxes paid at the location during the previous two years,whether paid by the current owner or a previous owner(use additional sheet for multiple addresses): See the attached statement. (Exhibit D _ (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:$ 11190,000 (Rev.5/13/11) 1