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11-10-08 Council Meeting Agenda & Packet
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11-10-08 Council Meeting Agenda & Packet
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City Council - City Clerk
City Council - Document Type
Agendas
City Counci - Date
11/11/2008
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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 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: <br />FROM: <br />SUBJECT: <br />DATE: <br />SOUTH BEND COMMON COUNCIL <br />BOB MATHIA <br />RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />FIRST FEDERAL SAVINGS BANK (Royal Oak Estates, Sections 2 and 3) <br />October 23, 2008 <br />On October 22, 2008, a petition for residential tax abatement consideration for real property located in Royal <br />Oak Estates, sections 2 and 3 was filed with the City Clerk by First Federal Savings Bank. Pursuant to <br />Chapter 2, Article 6, Section 2-77.1 of the Municipal Code of the City of South Bend, this petition was <br />referred to the Department of Community and Economic Development for purposes of investigation and <br />preparation of a report determining whether the area qualifies as a Residentially Distressed Area pursuant to <br />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 (a copy of which is <br />attached), investigated the area, and makes the following report. <br />PROJECT DESCRIPTION <br />Sections 2 and 3 of the subject subdivision were each granted five-year residential real property tax <br />abatements on January 27, 2003, and December 8, 2003, respectively, through Common Council <br />Resolution numbers 3156-03 and 3277-03. The Common Council's resolutions confirmed their earlier <br />declaratory resolutions designating Sections 2 and 3 as Residentially Distressed Areas (RDAs) and those <br />designations were limited to five calendar years from the dates of the adoption of the declaratory <br />resolutions, which were January 13, 2003, and November 24, 2003. The RDA designation is required in <br />order for the developer, First Federal in collaboration with Weiss Homes, to offer tax abatements on the <br />lots remaining to be sold in Sections 2 and 3 <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL HL PROGRAM <br />PAhfELA C. MEYER DONALD E. INKS MANAGEMENT <br />5741235-9660 574/235-9371 EuznriETx LEONARD <br />FAx: 574/235-9697 574/235-9371 <br />
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