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Stadium Village Annexation Area 4 <br />D. Size of Annexation Area <br />The Annexation Area is 3.1 acres in area. <br />E. Buildings and Land Use <br />The site contains four single-family structures and two vacant lots. The land is slated to be used for <br />a multi-story condo-hotel facility and single-family residential villas. <br />F. Zoning & Subdivisions <br />The site is zoned "R" Residential in unincorporated St. Joseph County. It is proposed to be zoned <br />"MU" Mixed Use District and "MF1"Multi-Family District upon approval of the City Council and <br />incorporation into the City of South Bend. <br />G. Population <br />Five (5) persons currently reside in the Annexation Area (estimated). <br />H. Tax Rate <br />The tax rates used are those of 2005 payable in 2006. <br />The Township Rate will decrease by 50.2342 per 5100.00 of assessed valuation with the deletion <br />of the Fire Fighting Fund and the Cumulative Fire assessments. <br />The tax rate for the Annexation Area will increase by 52.2971 with the addition of the City and <br />Town Rate, the Redevelopment District Rate and the South Bend Transpo Rate. <br />The net increase in property taxes will be S2.0629 per 5100.00 of assessed valuation. Table 2 <br />shows representative tax rate information as published by the St. Joseph County Auditor. <br />I. Assessments <br />200 payable 2006, St. Joseph County Auditor property tax records: <br />Land and Improvements <br />Net: 5134,520 <br />