4868-20 Designating Real Property Tax Abatement for SB Mutual Homes II, L.P.

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FHPd in Clerk's Office AUG i g 20 5. A legal description of said Properry(s) is attached hereto, marked Exhibit A, and is ince tpGqgtgd(hF1l! 4K. SOUTH BEND, IN 6. A map and/or plat indicating the location of the Property(s) is attached hereto, marked Exhibit B, and is incorporated herein. 7. Photographs of the Properry(s), taken within two (2) weeks of the filing of this petition, are attached hereto, marked Exhibit C, and incorporated herein. 8. The current assessed valuation of the property before construction is a r r 1 of $15,000. pleasg see Exhibit D (use additional sheet for multiple addresses). (Information may be obtained from the St. Joseph Comity Assessor's Office, 235.9523). 9. List the real property taxes paid at the location during the previous two years, whether paid by the current owner or a previous owner (use additional sheet for multiple addresses): Please see Exhibit D. Please see Exhibit D. (Chis information may be obtained from the St. Joseph County Treasurers office, 235- 9531) 10. What is your best estimate of the after completion market value of the property: $ 1.400.000. 11. No building permit has been issued for construction on the property in connection with the improvement in question as of the dare of filing of this petition. The building permit may be issued after the South Bend Common Council has approved the Declaratory Resolution. (Tax abatement is not available if a building permit has already been issued). The signature below is verification of this statement. 12. List other anticipated public financing for the project, including any assistance to be sought or already authorized through the United Stares Department of Housing and Urban Development funds from the City of South Bend, South Bend Housing Authority, Housing Assistance Office, St. Joseph County Housing Consortium or other public financial assistance, including but not limited to public works improvements: The develope�pecr to obtain an gq ily investment of $6.664.200 based on federal low-income housing rax credits granted rhrough the Indiana Housing & Community Development Authority The develppers have Leak esred five Proiecr Based Housing Vouchers from the South Bend Housine Authority. 13. Describe how the property has become undesirable for or impossible of normal development because of a lack of development, cessation of growth, deterioration of improvements or other factors which have impaired values and prevent a normal development of the property: The property has become undesirable for normal develoumerrt because of the low oropecry values of existing homes in the area the high number of deteriorated homes and the lack of private investment in the Southeast neighborhood. 14. The current use of the property is vacant lots and the current zoning is Urban Neighborhood l (use). (This information may be obtained from the Building Department 235.9553) 15. The property is located in the following Allocation Area (if any) declared and confirmed by the South Bend Redevelopment Commission (requiring approval of the tax abatement by the Redevelopment Commission): Southside Development Area 16. The following person should be contacted as the petitioner's agent regarding additional information and public hearing notifications: (Rev. 5/13/11)