03-23-15 Agenda. Packet & Committee Meeting Notice

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CITY OF SOUTH BEND, INDIANA PETITION FOR RESIDENTIAL TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real property, located within the City of South Bend, hereby petition the Common Council of the City of South Bend for Residential Real Property tax abatement consideration and pursuant to I.C. 6.1.1. 12.1.1, et sea.' and South Bend Municipal Code Sec. 2-76 et sea., for this petition state the following: Describe the proposed construction project, including information about square footage, number of rooms, number of stories, other amenities such as finished basements and garages, the amount of land to be used, the proposed use of the improvements, and a general statement as to the importance of the project (use additional sheet for long project descriptions): this is a request for tax abatement for three single }family homes which are part of larger project. known as South Bend Mutual blames. __ I'hc homes will have garages and basements mid will be I, 100 to 1300 square feet mid will be located on standard city lots in the neighborhood- - M,my of the homes will be built on lots where the city has demolished vacant mid abandoned houses For the overal I prgicci. a total of 24 homes will he constructed in an eight block area in the Lincoln Park n_eighborhn_od. l'he protect _will_ be a housing co_ope_rative, the_ residents_ will be nienihers —o—fa — —_ corporation that controls the ownership mid makes management decisions about the housing_The goal is to revitalize the Lincoln Park neighborhood. 2. Estimate the dollar value of the construction project (do not include land cost): $__ 62gen___________. 3. The real property for which tax abatement consideration is petitioned (Property) is owned or to be owned by the following individual(s) or corporation(s) (if the business organization is publicly held, indicate also the name of the corporate parent, if any, and the name tinder which the corporation has filed with the Securities and Exchange Commission): Name Address Interest South Bend Mutual Homes, 1,P.___ - -- -724 W _Washintatnn_ South Bend.—IN 46601 4. The commonly known address of the Property is: ___ please see attached sheet with parcel address and tax id ----------------------- - - - -__ and having tax key no.:____ Exhibit D ___ — (use additional sheet for multiple addresses or key numbers). 5. A legal description of said Property(s) is attached hereto, marked Exhibit A, and is incorporated herein. 6. A map and /or plat indicating the location of the Property(s) is attached hereto, marked Exhibit B, and is incorporated herein. 7. Photographs of the Property(s), taken within two (2) weeks of the filing of this petition, are attached hereto, marked Exhibit C, and incorporated herein. 8. The current assessed valuation of the property 1 p perry before construction is $_ig- Z� (rise additional sheet for multiple addresses). (Information may he obtained from the St. Joseph County Assessor's Office, 235. 9523). 9. List the real property taxes paid at the location during the previous two years, whether paid by the current owner or a previous owner (use additional sheet for multiple addresses): Please see Exhibit D (1 his intormation may be obtained from the St. Joseph County Treasurers office, 235.9531) 10. What is your best estimate of the after completion market value of the property: $_____$620,671 (Rev. 5/13/11)