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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND, INDIANA 46601-1830 <br />PHONE 574/235-9371 <br />FAx 574/235-9021 <br />TDD 5741235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY ~ ECONOMIC DEVELOPMENT <br />JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: BOB MATHIA <br />SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />HABITAT FOR HUMANITY (701 S. Grant St./601 Cottage Grove Ave.) <br />DATE: April 8, 2008 <br />On April 8, 2008, a petition for residential tax abatement consideration for real property located at 701 <br />South Grant Street and 601 Cottage Grove Avenue was filed with the City Clerk by Habitat for Humanity. <br />The property located at 601 Cottage Grove is currently owned by the Near Northwest Neighborhood <br />Association and Habitat submitted the abatement request on behalf of that owner. Pursuant to Chapter 2, <br />Article 6, Section 2-77.1 of the Municipal Code of the City of South Bend, this petition was referred to the <br />Department of Community and Economic Development for purposes of investigation and preparation of a <br />report determining whether the area qualifies as a Residentially Distressed Area pursuant to I.C.6-1.1-12.1 <br />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 />Habitat for Humanity plans to build two, new, single-family residences. The new houses will have 1120 to <br />1360 square feet, 3 bedrooms and one bathroom. The house on Grant Street will have a four foot crawl <br />space and the one on Cottage Grove will have a full basement and a second story. The price of each of the <br />homes will be $73,000. These homes will be offered to qualified, low-income families using a no-interest <br />loan and mortgage. <br />Taxes to be abated during the (5) five-year abatement period are estimated at $672.22 per year for each <br />home for a total of $3,361.09. Taxes to be paid during the (5) five-year abatement period are estimated at <br />$274.10 per year for each home for a total of $1,370.51. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL HL PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235-9660 574/235-9371 ELIZABETH LEONARD <br />FAX: 574/235-9697 574/235-9371 <br />