Confirming Tax Abatement - The Villas at Lake Blackthorn - Section 1 - Cooreman Real Estate Group, Inc

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1200 COUNTY-CITY BUILDING 227 W. ~EFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PHONE 574/ 235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY SL ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECUTIVE DIRECTOR TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BOB MATHIA SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: COOREMAN REAL ESTATE GROUP, INC. (The Villas at Lake Blackthorn - Section I) DATE: Apri125, 2008 On Apri123, 2008, a petition for residential tax abatement consideration for real property located in The Villas at Lake Blackthorn - Section I was filed with the City Clerk by Cooreman Real Estate Group, Incorporated. Pursuant to Chapter 2, Article 6, Section 2-77.1 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as a Residentially Distressed Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT DESCRIPTION Section I of the subject subdivision was granted afive-year residential real property tax abatement on December 9, 2002, through Common Council Resolution number 3138-02. The Redevelopment Commission also approved the tax abatement petition through Resolution Number 1917 on November 1, 2002. The Common Council's resolution confirmed its earlier declaratory resolution designating Section I as a Residentially Distressed Area (RDA) and that designation was limited to five calendar years from the date of the passage of the declaratory resolution, which was November 12, 2002. The RDA designation is required in order for the developer, Cooreman Real Estate Group, to offer tax abatements on the lots sold in Section I. On October 16, 2007, the developer submitted a request for a one year extension of the RDA. In response, the Redevelopment Commission approved the extension request on October 19, 2007 by Resolution Number 2389 and gave it a favorable recommendation to the Common Council. On October 22, 2007, the Common Council approved Resolution Number 3806-07 which extended the RDA one year COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL SC PROGRAM PA ~IELA C. MEYER DONALD E. INKS MANAGEMENT 574/235-9660 5741235-9371 EuzaeerH LEONARD FAX: 574/235-9697 574/235-9371