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1200 CouN rv-C,ITY BUILDING <br />227 W. JEFFERtiON BOULEVARD <br />SOl1TH BEND, INDIANA 46601'1830 <br />PHO;ve 574! 235-937 1 <br />F.ax 574/ 235-9021 <br />1'DD 574/ 235-5567 <br />CPrY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY S~ ECONOMIC DEVELOPMENT <br />JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: KATHY HAHN <br />SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />JAMES F. AND SANDRA M. MCCUNE <br />DATE: June 30, 2008 <br />On June 30, 2008, a petition for real property tax abatement consideration for property located at 225 <br />Garst Street was f led with the City Clerk by James F. and Sandra M. McCune. Pursuant to Chapter <br />2, Article 6, Section 2-82 of the Municipal Code of the City of South Bend, this petition was referred <br />to the Department of Community and Economic Development for purposes of investigation and <br />preparation of a report determining whether the area qualifies as an Economic Revitalization Area <br />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, investigated <br />the area, and makes the following report. <br />PROJECT SUMMARY <br />Mr. and Mrs. McCune own the property at 225 Garst Street and plan on building a 3,600 square foot <br />addition to an existing building to house Mr. McCune's masonry business and provide more rental <br />space for tenants that share the building. The addition will be a steel building with an all brick front <br />and will have 1,350 square feet of office space and 2,250 square feet of shop space. Initial plans call <br />for Mr. McCune to lease a portion of the building until his business grows into the entire building.. <br />The lessees will be Great Lakes Window and Siding and The Sign Shop. The total cost of the project <br />is estimated at $203,500. <br />Assuming a four year abatement term is approved, the total taxes to be abated during that term are <br />estimated at $6,507. Total taxes to be amid during the five-year term are estimated at $61,491. <br />COMMUNI"I'Y DEVELOPMENT ECONOMIC DCVELOPMF.N"F FINANCIAI, ~. PROGKAM <br />PAMELA C. MEYFR DONA(.U L. INK:; I~~ANAGEMENT' <br />5741235-9C60 574/235-9311 ELIZA6ETH LEONna~> <br />Fnx: 574/235-9697 574/235-`)371 <br />