Confirming Tax Abatement - Jeffrey & Marie Spoonhower 824 N. St. Peter St. (5 Year Residential Property)

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TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BROCK ZEEB SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: Jeffrey and Marie Spoonhower DATE: June 29, 2015 On Wednesday, June 17, 2015, a petition from Jeffrey and Marie Spoonhower was received and subsequently filed with the City Clerk for residential real property tax abatement consideration for a single - family home. Pursuant to Chapter 2, Article 6, Section 2 -84.2 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community Investment for purposes of investigation and preparation of a report determining whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6 -1.1 -12.1 and whether all zoning requirements have been met. The Department of Community Investment has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT SUMMARY ➢ (1) One single - family home at an approximate net assessed value of $126,805 ➢ New total taxes during five year abatement period — $15,441 ➢ Estimated taxes being abated during five year abatement period — $2142 ➢ Total taxes to be paid during five year abatement period — $13,299 ABATEMENT QUALIFICATION A review of the tax abatements previously granted, finds that the petitioner has not been granted or associated with any previous abatements. 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. A review of the South Bend Redevelopment designation areas finds that the properties are located in the River East Development Area. 4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner meets the qualifications for a (5) five -year residential property tax abatement under section 2 -77.1, Single Family Residential Construction. PLANNING NEIGHBORHOOD ENGAGEMENT BUSINESS DEVELOPMENT ECONOMIC RESOURCES .IOTN KAIN PAMELA C. MEYER CHRIS FIELDING BROCK ZEEB