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1200 COUNTY-CITY BUILDING <br />227 W. JEFFERSON BOULEVARD <br />SOUTH BEND,INDIANA 46601-1830 <br />PrIONE 574/ 235-9371 <br />FAx 574/235-9021 <br />TDD 574/ 235-5567 <br />CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR <br />COMMUNITY ~L 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: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: <br />J. PATRICK MATTHEWS & AIMEE G. MATTHEWS <br />DATE: April 20, 2007 <br />On March 30, 2007, a petition for residential tax abatement consideration for real property located at 3111 <br />Corby Blvd. South Bend, IN46615 was filed with the City Clerk by J. Patrick Matthews & Aimee G. <br />Matthews. Pursuant to Chapter 2, Article 6, Section 2-77.1 of the Municipal Code of the City of South <br />Bend, this petition was referred to the Department of Community and Economic Development for purposes <br />of investigation and preparation of a report determining whether the area qualifies as a Residentially <br />Distressed Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. <br />The Department of Community and Economic Development has reviewed the petition (a copy of which is <br />attached), investigated the area, and makes the following report. <br />PROJECT DESCRIPTION <br />J. Patrick Matthews & Aimee G. Matthews intend to construct thirty new three bedroom, two and one-half <br />bathroom condo townhouses of approximately 1,500 sq. ft. each with either a single or two-car attached <br />garage. Each townhouse will have two stories. The development will contain a private street with ten (10) <br />buildings consisting of three townhouses each. The buildings will cover 30% of the land, driveways and <br />streets 27% and green space and water retention areas cover the remaining 43%. The townhouses will be <br />constructed on the 2.786 acre site of the old McKinley Terrace Community Club swimming pool. <br />The price of each house will be approximately $150,000 for a total project cost of $4,500,000. Taxes to be <br />abated during the five-year (5) abatement period are estimated at $2052 per for each townhouse for a total <br />of $10,260 for the entire abatement period. Taxes to be paid during the (5) five-year abatement period for <br />each townhouse are estimated at $675 per year for each home for a total of 3,375 for the entire abatement <br />period. <br />COMMUNFTY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL $L PROGRAM <br />PAMELA C. MEYER DONALD E. INKS MANAGEMENT <br />574/235-9660 574/235-9371 EuzaserH LEONARD <br />Fnx: 5741235-9697 574/235-9371 <br />