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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND,INDIANA 46601-1830 <br />PHONE 574/ 235-9371 <br />Fax 574/235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY ~ ECONOMIC DEVELOPMENT <br />JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPORT <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: BOB MATHIA <br />SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />ROBERT R. LEE (C. E. LEE COMPANY, INC.) <br />DATE: DECEMBER 22, 2008 <br />On November 10, 2008, a petition for real property tax abatement consideration for vacant property <br />located at 1728 North Ironwood Drive was filed with the City Clerk by Robert R. Lee (C. E. Lee <br />Company, Inc.). Please note: The petitioner is asking for a special exception because the <br />project does not meet the general standards for real property tax abatement set forth in <br />Chapter 2, Article 6, Sections 2-77 through 2-83.3 of the Municipal Code of the City of South <br />Bend. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal Code of the City of South <br />Bend, this petition was referred to the Department of Community and Economic Development for <br />purposes of investigation and preparation of a report determining whether the area qualifies as an <br />Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have <br />been met. <br />The Department of Community and Economic Development has reviewed the petition, investigated <br />the area, and makes the following report. <br />PROJECT SUMMARY <br />Robert R. Lee is proposing to construct a new retail facility to be leased by C.E. Lee Company, <br />Incorporated. C.E. Lee Company, a retail decorating center, has been established in South Bend since <br />1872. They sell several different brands of paint, window treatments, and wall coverings. Customers <br />consist of individual homeowners as well as many paint contractors and maintenance accounts. <br />On Apri122, 2008, their retail store at 1728 North Ironwood Drive was destroyed by fire. Because <br />their local insurance agent failed to provide accurate replacement cost estimates, the company found <br />itself underinsured after the fire. Replacement costs for the building, equipment, and inventory total <br />$687,000. The company has received $485,000 in insurance proceeds and intends to finance the <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL St PROGRAM <br />PAMELA C, MEYER DONALD E. INKS MANAGEMENT <br />5741235-9660 574/235-9371 ELIZABETH LEONARD <br />FAX: 574!235-9697 5741235-9371 <br />