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1200 COUNTY-CITY BUILDING <br />227 W. ,JEFFERSON BOULEVARD <br />SOUTH BEND,INDL4NA 46601-1830 <br />PFIONE 574/ 235-9371 <br />FAx 574/235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY HL ECONOMIC DEVELOPMENT <br />,JEFFREY V. GIBNEY <br />EXECUTIVE DIRECTOR <br />TAX ABATEMENT REPOR T <br />TO: SOUTH BEND COMMON COUNCIL <br />FROM: SHARON TERRELI.~ <br />SUBJECT: REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />RANJAN J. AMIN (CHOICE SUITES) <br />DATE: APRIL 30, 2007 <br />On February 19, 2007, a petition for real property tax abatement consideration for property located at <br />60971 U.S. 31 South was filed with the City Clerk by Ranj an J. Amin. The applicant is asking for <br />a special exception because the project does not meet the general standards for real property <br />tax abatement set forth in Chapter 2, Article 6, Section 2-77 through 2-83.3 of the Municipal <br />Code of the City of South Bend. Pursuant to Chapter 2, Article 6, Section 2-82 of the Municipal <br />Code of the City of South Bend, this petition was referred to the Department of Community and <br />Economic Development for purposes of investigation and preparation of a report determining <br />whether the area qualifies as an Economic Revitalization Area pursuant to I.C.6-1.1-12.1 and <br />whether all zoning requirements have 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 />Ranjan J. Amin proposes to tear down and replace the existing Drake Motel with athree-story, 71- <br />room Choice Suites hotel. The total cost of the project is estimated at $3,094,000. The new hotel <br />will be constructed with modern conveniences such as a conference room, swimming pool, and <br />exercise room. The estimated square footage of the project is 43,368. <br />Total taxes to be abated during the (3) three-year abatement period are estimated at $210,313. Total <br />taxes to be paid during the (3) three-year abatement period are estimated at $106,742. <br />COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL & PROGRAM <br />PAMELA C. MEYER DONALD E, INKS MANAGEMENT <br />574/235-9660 574/235-9371 EuzAeETrt LEONARD <br />Fax: 5741235-9697 5741235-9371 <br />