Confirming Tax Abatement - Lafayette Falls - Kendall Weiss, LLP

Home Browse Search

1200 COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 SHARON T. KENDALL EXECUTIVE DIRECTOR TAX ABATEMENT REPORT TO: FROM: SUBJECT: DATE: PHONE 574/235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY ~L ECONOMIC DEVELOPMENT SOUTH BEND COMMON COUNCIL SHARON TERRELL ~, RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: KENDALL-WEISS, LLP Lots Numbered 266-283, Lafayette Falls, Section 5 Lots Numbered 403-408, Lafayette Falls, Phase III, Section 1 December 7, 2006 On November 28, 2006, a petition for residential tax abatement consideration for real property located at Lafayette Falls, Section 5 and a part of Lafayette Falls, Phase III, Section 1, was filed with the City Clerk by Kendall-Weiss. Pursuant to Chapter 2, Article 6, Section 2-77.1 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as a Residentially Distressed Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT DESCRIPTION Kendall-Weiss intends to construct (24) twenty-four, new, single-family homes on approximately 11 acres of land. The homes will consist of (3) three to (4) four bedrooms with 2 %i baths ranging in size from 1,200 to over 2,500 square feet with eight-foot basement walls, a 20 foot by 20 foot attached garage, optional fireplaces, and vinyl siding with stone and/or brick accents. Stove, dishwasher, microwave oven, and garbage disposal are included with the base home package. Each home will be built on lots ranging in size from a minimum 44 foot by 113 foot to over 1.5 acres. All lots will be sodded, sprinkled, landscaped, and serviced by municipal water and sanitary sewers. The sections of the development will include one retention basin, 1,362 linear feet of new streets, and public and private utilities. The average cost of the homes will be approximately $170,000. Total taxes to be abated during the (5) five-year abatement period is estimated at $10,216 per home for a total tax abatement of $245,184 for the 24 homes. Total taxes to be COMMUNITY DEVELOPMEN'T' ECONOMIC DEVELOPMENT FINANCIAL HC PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT 5741235-9660 5741235-9371 ELIZABETH LEONARD FAX: 574/235-9697 5741235-9371