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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTx BEND, INDIANA 46601-1830 <br />PHONE 574/ 235-9371 <br />FAx 574/235-9021 <br />TDD 574! 235-5567 <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: 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 filed 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 paid during the five-year term are estimated at $61,491. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL HC PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235-9660 574/235-9371 ELtznaeTH LEONARD <br />FAX: 574/235-9697 574/235-9371 <br />