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05-12-08 Council Meeting Agenda & Packet
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05-12-08 Council Meeting Agenda & Packet
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
5/12/2008
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1200 COUNTY-CITY BUILDING <br />227 \Y~ JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601-1830 <br />PxoNE574/235-9371 <br />FAx 574/235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY SL .ECONOMIC DEVELOPMENT <br />.JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />April 25, 2008 <br />Council Member Derek D. Dieter, Chairperson <br />Community & Economic Development Committee <br />South Bend Common Council <br />4th Floor, County City Building <br />South Bend, IN 46601 <br />RE: Residential Real Property Tax Abatement Petition for: <br />COOREMAN REAL ESTATE GROUP, INC. (The Villas at Lake Blackthorn -Section I) <br />Dear Council Member Dieter: <br />Please find attached the Department of Community & Economic Development's report on a residential <br />real property tax abatement petition submitted by Cooreman Real Estate Group, Incorporated. This <br />developer intends to develop fifty-one lots remaining in Section I of The Villas at Lake Blackthorn. <br />Also attached is a copy of the petition, Statement of Benefits form, and supporting information. <br />The report contains the department's findings relative to the above petition. The petitioner proposes to <br />develop the fifty-one lots at a cost of $12,750,000. The developer has sold fifty lots under an existing <br />tax abatement. The term for that abatement will expire in November and the developer is requesting a <br />new tax abatement in order to continue offering a tax abatement as an incentive for the sale of the <br />remaining lots. The project meets the qualifications for afive-year (5) real property tax abatement. The <br />petitioner will be available to meet with the Committee on Monday, May 12, 2008. <br />Should you or any of the other Council members have any questions concerning the report, or need <br />additional information, please feel free to call me at 235-5835. <br />Sincerely, <br />Bob Mathia <br />Assistant Director, <br />Economic Development <br />Attachments <br />cc: South Bend Common Council Members <br />Mayor Stephen Luecke <br />Jeff Gibney <br />Don Inks <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL ~ PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEML•NT <br />574/235-9660 574/235-9371 ELIZABETH LEONARD <br />FAX: 574/235-9697 574/235-9371 <br />
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