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South Bend Redevelopment Commission <br />Rescheduled Regular Meeting -August 25, 2006 <br />6. NEW BUSINESS (CONT.) <br />B. Tax Abatements <br />(3) Commission approval requested for <br />Resolution No. 2266 approving an <br />application for real property tax deduction <br />for properties located at 1810,1818,1826, <br />1834,1844,1852,1860, and 1868 Overlook <br />Court in the South Side Development <br />Area. (Ullery Development, LLC/Villas at <br />Ireland Woods) <br />Mr. Schalliol gave the staff report on the <br />project. Ullery Development intends to <br />construct eight new, single-family homes on <br />1.98 acres of land on urban infill lots. The <br />homes will consist of two or three bedrooms <br />and two baths, ranging in size from 1,463 to <br />1,906 square feet with basement, a 23 ft x 24 <br />ft attached garage, covered patio, optional <br />fireplaces, and vinyl siding with stone and/or <br />brick accents. Each home will be built on a <br />minimum 66 ft x 138 ft lot. The estimated <br />price of each home will be between $190,000 <br />and $300,000 (average $243,750). <br />Ullery Development was granted one <br />previous tax abatement. It is incompliance <br />with all reporting requirements for that <br />abatement. The property is properly zoned <br />for the proposed project. The property is <br />located in the South Side Development Area, <br />which is a tax increment allocation area; <br />therefore, the petition for real property tax <br />deduction must first be approved by the <br />South Bend Redevelopment Commission. <br />The project qualifies for afive-year real <br />property tax abatement under the tax <br />abatement ordinance. <br />60 <br />