Waiving Tax Abatement - 6819 Stewart Drive - Kendall Weiss, LLP

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SECTION I. The Petitioner has presented testimonial and documentary evidence of the following facts and the Common Council hereby makes the following findings of fact in support of this resolution: A. The Petitioner's intention since the Lafayette Falls residential development (the "Development") began construction in 2003 is to seek residential tax abatements for every single lot within the Development. B. The Petitioner has filed separate tax abatement petitions for each individual section of the Development as they have been subdivided. C. The Common Council has adopted Resolutions 3352-04, 3398-04, 3481-05, 3494- 05, 3551-06, and 3697-07, which confirm the adoption of declaratory resolutions for 175 single-family residential lots within the Development as residentially distressed for purposes of a (5) five year residential real property tax abatement for the Petitioner. The 175 lots included within these confirming resolutions to date have an approximate mazket value of over $31 million. D. Said Resolution 3697-07 was adopted on February 12, 2007 and included Lots 403 through 408 within the Development. These lots lie immediately to the north of the Property. E. The Petitioner was unawaze that the Property was not included within Resolution 3697-07; and therefore, inadvertently obtained a building permit for the Property prior to its inclusion within an adopted declaratory and confirming resolution. F. The Petitioner is thoroughly and continually committed in investing within this 400 plus lot Development which was annexed into the City in 2003. In addition to this commitment by the Petitioner, the residents of the City of South Bend through the City Plan process identified that the City must encourage the development more market rate housing and promote homeownership within the City. The continuing support of the residential tax abatement program for new single family home construction within the City both encourages and promotes the development of owner occupied homes within the City. The City Plan, the 20 yeaz Comprehensive Plan was adopted by Common Council on November 13, 2006. G. The Petitioner acknowledges and respects the long-standing policy of the Common Council to require that the economic revitalization declaratory resolution be adopted by the Common Council before a building permit is obtained and before redevelopment begins. H. At all times throughout these proceedings, the Petitioner has acted in good faith, has promptly cooperated with all requests of the Common Council and the South Bend Department of Community Development, and has made every effort to