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r . ii4i:_L''.�,y . <br /> �f�i;'������i.. <br /> 'j ..'8 <br /> �/�� '.�.1'����1��` , <br /> Ain�,•.� ,� �•�, <br /> ; :�)itl l '� �,'!; • �.. \�� C:�K ;i J ': 4%�,i�7-9?;'1 <br /> Z���V.(bF1=L R10P`�ii�i (C' P.0 W���pFaCE� � y 1�+, i �l< >'4r�?35-�)�21 <br /> _��• � �� <br /> S:_)('I�!;Bi'ti�?,ItiDI,�\.� �4:�Iifl1�1;;�.;t�' "��rj:^ �7y:_.r:° �' �l�l`)(?'�^'i/����.1-�j67 <br /> �,{._ +,!��, • <br /> ,_,,-:;��- <br /> e ��� <br /> t�; . ;:�: :>�;�:rri BrNn Sr�r�,��:;� 1. �.c:r:::..c �,'... ;,. <br /> �0�7J.1����o1.I"��i' � ECONOMIC L��t;���'.i.#:�I'.iV1ENT <br /> SHARON T. KENDALL <br /> �',XECi,7'IVEi TJtIiECf'ii{: <br /> TAX ABA TEMENT REPOR T <br /> TO: SOL!TH BEND COMMON COUNCIL <br /> FROM: SHARON TERRELI� <br /> SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: <br /> ROJO DEVELOPMENT, INC. (NORAWOOD MANOR) <br /> DATE: August 31, 2006 <br /> On August 17, 2006, a petition for residential tax abatement consideration for real property was filed with <br /> the City Clerk by Rojo Development. Pursuant to Chapter 2, Artic�e 6, Section 2-77.1 of the Municipal <br /> Code of the City of South Bend,this petition was referred to the Department of Community and Economic <br /> Development for purposes of investigation and preparation of a report determining whether the area qualifies <br /> as a Residentially Distressed Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been <br /> met. <br /> The Department of Community and Economic Development has reviewed the petitior� (a copy of which is <br /> attached), investigated tlie area, and makes the following report. <br /> PROJECT DESCRIPTION <br /> Rojo Development intends to construct(13)thirteen,single-family,custom-built homes. The price ofeach <br /> home will be approximately two hundred fifty thousand dollars($250,000). Taxes to be abated during the <br /> (5)five-year abatement period is estimated at$10,216 for each home. The total amount abated for the(13) <br /> thirteen homes totals�132,808. Taxes to be paid for each home are estimated at$27,913. Total taxes to <br /> be paid during the(5) five-year abatement period for the (13) thirteen homes is $362,880. <br /> Cc>�rmtutJrr�t�Dcve�or�ti:rti�i ECpNOb1:C L)HV!LOl'�iti.�'i' �__... ��1\ANCI.AL SC PROGic�;� <br /> f'.;+ir.�.a C.;V,cri�;. D;.,n:=i�„?..t:�:c�.: iV1+.NAGFMCNT <br /> 5'qi2{; 9r:l.,U 5;4r�;=;.��3?i Ii�n.��t.r:i L�aoh.ar.n <br /> F,?>;: 5'=ir:';5-9b)% 5i�i/235-'�i7 i <br />