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South Bend Common Council <br />RE: Prairie Apartments Housing Partners <br />January 28, 2008 <br />Page 2 <br />Total taxes to be abated during the (10) ten -year abatement period is estimated at $1,913,666. Total taxes <br />to be jLai during the (10) ten -year abatement period is estimated at $1,952,324. <br />ABATEMENT QUALIFICATION <br />1. A review of the tax abatements previously granted finds that the petitioner has not directly received <br />any tax abatement. However, a related firm, Prairie Apartments Housing Partners, LP (also <br />associated with Equal Development, LLC) has been associated with or been granted the following <br />previous tax abatement. <br />TeUjIMpe Resolution No. Date <br />10 -year real property 3711 -07 February 26, 2007 <br />2. The Building Commissioner has reviewed this petition and finds the properties to be properly zoned <br />for the proposed project. <br />3. A review of the South Bend Redevelopment designation areas finds that the property is not located <br />in any of the development areas; therefore, approval ofthe tax abatement petition by the South Bend <br />Redevelopment Commission is not required. <br />4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the <br />qualifications for a.(10) ten -year real property tax abatement under Section 2 -77, Multi- Family <br />Residential Developments. <br />