Confirming Tax Abatement - James & Susan Farrington 802 E. St. Vincent St. (5 Year Residential Property)

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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 6-1.1-12.1-1,et seq.,and South Bend Municipal Code Sec. 2-76 et seq.,for this petition state the following: 1. 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): Construction of a 3400 SF home (plus 950 SF finished area on lower level\kith 5 bedrooms and 5 1/2 baths and two cargarage and kitchen, dining room, family room and office on the 1st floor, and 4 bedrooms and laundry area on the 2nd floor. Features will include a linear fireplace,built-in bookcases,hardwood flooring_andpatio. 2. Estimate the dollar value of the construction project(do not include land cost): $ 525,000 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 under which the corporation has filed with the Securities and Exchange Commission): Name Address Interest James F. and Susan Farrington 15 Shady Acres Rd., Darien, CT 06820 4. The commonly known address of the Property is: 802 East St. Vincent St., South Bend and having tax key no.:71-08.01-281-001.000-026 (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 before construction is $ 35,400 (use additional sheet for multiple addresses). (Information may be 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): $0 (This information 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: $ 600,000 (Rev. 5/13/11) 1 •