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, �'__�_� <br /> ��.���i:�•��F���:�. <br /> ��, �'��`�`'!��'''� .����� <br /> p,/'� �:�! \� .. . <br /> � _ 'n t �. - ir- r•� <br /> ��)lli . :�i . I-'!` . �. �\� �. ll�l .i. � ��f/ .v�-lir] <br /> ��,'�V tFFFLR�n� `'> \^• �\ �i�� Ci"' � .. -+! � � ` . <br /> � 1 }.�l)1 l L f i ,�\ YEACE � y� i l� 1: }f 35-�� 1 <br /> 5Ut',.,Ki.'�U.���Dl,i�:� 4:�(itl� ) ,.)�' �'j i:\>���.a�j� 1�)�))��/ �',>-S�fi7 <br /> �`��-:'.. <br /> ��r_:r�,f�A• <br /> x/�;" <br /> • T865_/ <br /> t_ . i> ->vurr� BrNn S'C'EPfll3ti J. l.(.�l:.:t��_. ,`.t.. ..,. <br /> Ca������`�1I��i' c�L ECONOMIC I..1�.��'i.�:�PiVIENT <br /> SHARON T. KENI7ALL <br /> F.XEC�,'I'IV��.Urr.F:c:rc;h <br /> TAX ABA TEMENT REPOR T <br /> TO: SOt1TH 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, 200G, a petition for residential tax abatement consideration for real property was filed with <br /> the City�Clerk by Rojo Development. Pursuant to Chapter 2, Article 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 of each <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�aid for each home are estimated at$27,913. Total taxes to <br /> be naid during the (5) five-year abatement period for the (13) thirteen homes is $362,880. <br /> (;o�rMU�ar��Devfi,o�>n:r�i _-.�. Ecc�xci�•t�c L)i�.vr�.ui>��r�r:r .~..�_.W 1'i�n��c•�n�.&Pxoc;�cnn� <br /> 1�:>.�,�.�.a C.�terr:: D:,r::���,s...t�,:.; lvt.�N;�GEMLNT <br /> 5?4i2+i 9�i(;6 `,?,/'3.`.;.93?i lii�?.��r.l':i LiSUN�.r.t� <br /> F+.x: 5;=ir2:,5-7v•)" 5,.i/235-`�:'�7: <br />