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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULNARD <br />SoU~rH BeND> INDIANA 46601-1830 <br />PHONE 574/235-9371 <br />FAx 574/235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECI:E, MAYOR <br />COMMUNITY S~L ECONOMIC DEVELOPMENT <br />JEFFREY U GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: <br />FROM: <br />SUBJECT: <br />DATE: <br />SOUTH BEND COMMON COUNCIL <br />BOB MATHIA <br />RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />COOREMAN REAL ESTATE GROUP, INC. (The Villas at Lake Blackthorn - <br />Section I) <br />Apri125, 2008 <br />On April 23, 2008, a petition for residential tax abatement consideration for real property located in The <br />Villas at Lake Blackthorn - Section I was filed with the City Clerk by Cooreman Real Estate Group, <br />Incorporated. Pursuant to Chapter 2, Article 6, Section 2-77.1 of the Municipal Code of the City of South <br />Bend, this petition was referred to the Department of Community and Economic Development for purposes <br />of investigation and preparation of a report determining whether the area qualifies as a Residentially <br />Distressed Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition (a copy of which is <br />attached), investigated the area, and makes the following report. <br />PROJECT DESCRIPTION <br />Section I of the subject subdivision was granted afive-year residential real property tax abatement on <br />December 9, 2002, through Common Council Resolution number 3138-02. The Redevelopment <br />Commission also approved the tax abatement petition through Resolution Number 1917 on November 1, <br />2002. The Common Council's resolution confirmed its earlier declaratory resolution designating Section I <br />as a Residentially Distressed Area (RDA) and that designation was limited to five calendar years from the <br />date of the passage of the declaratory resolution, which was November 12, 2002. The RDA designation is <br />required in order for the developer, Cooreman Real Estate Group, to offer tax abatements on the lots sold <br />in Section I. On October 16, 2007, the developer submitted a request for a one year extension of the RDA. <br />In response, the Redevelopment Commission approved the extension request on October 19, 2007 by <br />Resolution Number 2389 and gave it a favorable recommendation to the Common Council. On October <br />22, 2007, the Common Council approved Resolution Number 3806-07 which extended the RDA one year <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />5741235-9660 574/235-9371 EL~zneerH LEONARD <br />EAx: 574/235-9697 574/235-9371 <br />