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227 W.jrTrrRSoy BOUI.Ei'ARD �Q� <br /> Suri-E.1400& ^� `p. . /% PHONE:574/235-9371 <br /> F. <br /> So A <br /> H BEND,IN 46601-1830 <br /> x:574/235-9021 <br /> t: <br /> CITY OF SOUTH BENID PETE BUTTIGIEG,MAYOR <br /> COMMUNITY INVESTMENT <br /> June 3, 2013 SCOTT FORD, ExEcUTWE DIRECTOR <br /> Council Member Henry Davis, 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 Property Tax Abatement Petition for: <br /> Tampico Developments, LLC <br /> Dear Council Member Davis: <br /> Tampico Developments, LLC was approved for a five year residential tax abatement through Resolution <br /> 3862-08 adopted by the Common Council on May 12, 2008. They would like to receive a one year <br /> extension on the abatement. There is one remaining lot that needs to be sold in the Crescent Oaks <br /> development, They would like to have the tax abatement extended for an additional year so they can market <br /> the lot with a tax abatement benefit. In their original petition dated April 7, 2008,they stated they intended <br /> to develop 9.82 acres of agricultural farmland into 31 residential lots. The development was to include <br /> 1,427 linear feet of public streets, one stormwater retention area, and the associated public and private <br /> utilities. The homes were to be built by Weiss Homes and were to range in size from 1,300 to 2,000 square <br /> feet. The estimated price of each home was $185,000. Total taxes to be abated during the five year period <br /> on one home were estimated at$10,262.19. Total taxes to be paid during the five year abatement period on <br /> one home were estimated at $7,45 1.34. A representative of the company will be available to meet with the <br /> Committee on Monday, March 11, 2013. <br /> To accomplish this request, a tax abatement recipient must notify the Council in writing and submit a <br /> revised Statement of Benefits (Form SB-1). Attached you will find a letter from the company's <br /> representative, Bradley E. Mosness, PE of Abonmarche Consultants,Inc. ,requesting the one year extension <br /> of the abatement. Included is a letter from Bradley Mosness along with an Exhibit showing the location of <br /> the last lot. Attached is the new SB-1. <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 235-9278. <br /> sincerely, <br /> Kathy Hahn <br /> Economic Development Specialist <br /> MANNING ,NncAk�ikf jooD ENGAGEMENT ECCINDV(IC Rr'soCrR(:Es <br /> JITI\h'Afti - .!�;1t,. I,WAFLA C.VIE7TR DOti�1LL)E'.1NILC <br />