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EddyStreet-Edison Road Annexation Area 4 <br />D. Size of Annexation Area <br />The Annexation Area is 26.2 acres in area. <br />E. Buildings and Land Use <br />The Annexation Area is currently wooded with areas of open space. The site does not presently <br />contain any structures. The land is slated to be used for research facilities and other commercial <br />and residential uses typically associated with a college or university campus. <br />F. Zoning & Subdivisions <br />The site is zoned "U" University in unincorporated St. Joseph County. It is proposed to be zoned <br />"U" University District upon approval of the City Council and incorporation into the City of South <br />Bend. <br />C. Population <br />No people currently reside in the Annexation Area. <br />H. Tax Rate <br />The tax rates used are those of 2005 payable in 2006. <br />The Township Rate will decrease by $0.306 per $100.00 of assessed valuation with the deletion of <br />the Fire Fighting Fund and the Cumulative Fire assessments. <br />The tax rate for the Annexation Area will increase by $2.2971 with the addition of the City and <br />Town Rate, the Redevelopment District Rate and the South Bend Transpo Rate. <br />The net increase in property taxes will be $2.2971 per $100.00 of assessed valuation. Table 2 <br />shows representative tax rate information as published by the St. Joseph County Auditor. <br />I. Assessments <br />2005 payable 2006, St. Joseph County Auditor property tax records: <br />Land: $1,189,730 <br />Improvements: $0.00 <br />Net: $1,189,730 <br />