08-28-06 Community & Economic Development

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August 28, 2006 Community and Economic Development Committee Page 3 Citizen member Wolfson made a motion, seconded by Council Member Kuspa that Substitute Bill No. 06-87 be recommended favorably to Council. The motion passed. Bill No. 06-88: Five-Year Residential Real Pro ert Tax Abatement Re nest for Uller Develo meat LLC. Council Member Kelly called fora report from Community and Economic Development on Bill No. 06-88 which is a five {5) year residential real property tax abatement request for Ullery Development, LLC for the properties located at 1810, 1818, 1834, 1844, 1852, 1860 and 1868 Overlook Court.. Bill 5challiol of the Department of Community and Economic Development highlighted portions of the August 16, 2006 report (copy attached) which states on page 2 that the petitioner "meets the qualifications for a five {5} year residential tax abatement under Section 2.77.1, Single 1=amity Real Property Abatement" addressed in the South Bend Municipal Cade. Mr. J. Bernard Feeney of Lang, Feeney & Associates, Inc. with offices located at 715 South Michigan Street in downtown South Bend made the formal presentation. He noted that they plan to construct eight {8} single-family homes an 1.98 acres as part of the Villas at Ireland Woods development; noting that there are a total of fifteen (15) lots in the total development. In response to a question from Council Member Kuspa, Mr. Feeney noted that the sale of houses is "holding its own"; and that construction of this type is in demand. Dr. Varner stated that in light of the growing number of senior citizens, there is a preference for villas. Dr. Varner added that a substantial amount of taxes will be paid by those who purchase such villas. Council Member Kuspa made a motion, seconded by Council Member Kirsits that Bill No. 06-88 be recommended favorably to Council. The motion passed. Miscellaneous Business: Under unfinished business, Council Member Kelly noted that the Committee will meet again on August 29, 2006 at 6 p.m. to discuss Project Future. There being no further business to come before the Committee, Council Member Kelly adjourned the meeting at 4.35 p.m.