20-29 Confirming Real Property Tax Abatement for SB Mutual Homes II, L.P.

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CITY OF SOUTH BEND, INDIANA I AUO .19 mo PETITION FOR RESIDENTIAL TAX ABATEMENT CONST E h, IN The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for Residential Real Property tax abatement consideration and pursuant to I.C. 6.1.1.12.1.1, et seg., and South Bend Municipal Code Sec. 2-76 et sea., for this petition state the following: 1. Describe the proposed construction project, including information about square footage, number of rooms, number of stories, other amenities such as finished basements and garages, the amount of land to he used, the proposed use of the improvements, and a general statement as to the importance of the project (use additional sheet for long project descriptions): The nroposed project will consist of 10 single family homes: 2 (2)BR homes. 3 MBR homes and 5 MBR homes The total square footage is 13,203 sg. ft which is an average of 1,320 sq. h per hoose. The homes will have traditional architecture with front porches and rear garages to blend in with the surrounding neighborhood A resident cooperative will manage the homes to encourage resident participation and long- im ortant because it meets the affordable housing needs of the community. It will support other revitalization efforts in the Southeast neighborhood by utilizing vacant lots to provide quality housing for those that cannot immediately purchase a home. 2. Estimate the dollar value of the construction project (do not include land cost): $2,166,000. 3. The real property for which tax abatement consideration is petitioned (Property) is owned or to be owned by the following individual(s) or corporation(s) (if the business organization is publicly held, indicate also the name of the corporate parent, if any, and the name under which the corporation has filed with the Securities and Exchange Commission): Name Address Interest South Bend Mutual Homes Il. LP will be the owner of the oroiect The limited uartner equity investor will he Cinnaire. Cinnaire will own a 99.99% interest in the project. Their address is Suite 516, 320 N. Meridian Street, Indiananolis. IN 46204 The South Bend Mutual Homes Cooberative ll, GP LLC will own a 00596% interest in the project. Their address is 724. W. Washington, South Bend, IN 46601. South Bend Mutual Homes Coo6erative II GP. LLC is a wholly owned subsidiary of South Bend Mutual Homes Cooperative SBHF MH II GP LLC will own a.00394% General Partner interest in the project. Their address is 803 Lincoln Way West South Bend IN 46616 SBHF MH II GP LLC is a wholly owned subsidiary of South Bend Heritage Foundation. Anne Mannix will be a special limited partner with an 0001% interest in the moiect. Her address is 724 W Washington, South Bend, IN 46601. 4. The commonly known address of the Property is: _Please see Exhibit D. and having tax key no.: Please see Exhibit D. (use additional sheet for multiple addresses or key numbers). (Rev. 5/13/11)