No. 1115 approving an application for real property tax deduction (Monroe Park Apartments, L.P., 502 S. Fellows St./423 E. South St.)

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City of South Bend Joseph E. Kernan, Mayor Department of Economic Development Jon R. Hunt Executive Director MEMORANDUM Ann E. Kolata Deputy Executive Director TO: HUMAN RESOURCES COMMITTEE OF THE SOUTH BEND COMMON COUNCIL FROM: DEPARTMENT OF ECONOMIC DEVELOPMENT - MICHAEL BEITZINGER SUBJECT: TAX ABATEMENT PETITION MONROE PARK APARTMENTS, L.P. MONROE PARK DATE: NOVEMBER 16, 1992 On November 5, 1992, a petition for tax abatement consideration for real property located in the Monroe Park was filed with the City Clerk by Monroe Park Apartments, L. P. Pursuant to Chapter 2, Article 6, Section 2 -77 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1- 12.1 -1 and whether all zoning requirements have been met. The Department of Economic Development has reviewed the petition (a copy of which is attached), investigated the area and makes the following report. Project Descrigtion The petitioner proposes to build a 57 unit apartment complex in the Monroe Park. 16 one bedroom, 24 two bedroom and 17 three bedroom units will be built on approximately 2 acres of land which was acquired and cleared by the Redevelopment Commission. All 57 apartments will be rented to low- income people. The total projected cost of the project is $3.2 million. 1200 County -City Building • South Bend, Indiana 46601 • 219/235 -9371 Fax 219/235 -9021 Redevelopment Business Assistance Housing Rehabilitation Ann Kolata & Development Kathryn Baumgartner 235 -9371 Donald Inks 521 Eclipse Place 235- 9335 235 -9475 CDBG Program & Financial Management Elizabeth Leonard 235 -9335 Planning & Neighborhood Development Pamela Meyer 235-9449