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South Bend Common Council <br />RE: Cooreman Real Estate Group, Inc. <br />October 23, 2014 <br />Page 2 <br />have given them only one year to develop and sell the lots. <br />The Villas at Blackthorn is a single family home subdivision with 114 home sites, located on <br />56 +- acres, with a large lake, a gazebo park, and a year round pond. <br />Total taxes to be abated during the (5) five -year abatement period are estimated to be $5,679. <br />Total taxes to be paid during the (5) five -year abatement period are estimated to be $45,686. <br />ABATEMENT QUALIFICATION <br />A review of the tax abatements previously granted finds that the petitioner has been <br />associated with or been granted these previous tax abatements: 3868 -08, 3869- 08,and <br />3806 -07. <br />2. The Building Commissioner has reviewed this petition and finds the property to be <br />properly zoned for the proposed project. The Building Commissioner has noted that <br />the properties requesting abatement have had building permits pulled. <br />A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets <br />the qualifications for a (5) five -year residential tax abatement under Section 2 -77.1, <br />Single Family Residential Construction, if the Council determines a special exception <br />is granted. <br />Filed in dark's Office <br />JOHN aw <br />CITY CLERK, SOUTH BEND, IN <br />