Confirming Tax Abatement - 3111 Corby Blvd. - J. Patrick & Aimee G. Matthews

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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 1•C 6-1.1-12.1-1, et sea•, and South Bend Municipal Code Sec. 2-76 et seg•, for this petition states the following: 1. Describe the proposed construction project, including information about square footage, numbers of rooms, amenities, 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): A redevelopment of the 2.786 acre McKinley Terrace Community Club Swimming Pool, located at 3111 Corby Blvd. South Bend, IN 46615, into condo townhouses. The development will contain a private street with ten (10) buildings consisting of three (3) units each, for a total of thirty (30) condo townhouses. Current estimates are for each unit to be approximately 1,500 square feet, containing three (30) bedrooms, two and one-half baths (2.5) and either a single or two-car attached garage. The proposed buildings will cover 30% of the land, driveways and streets will cover an additiona127%, with rg een space and water retention covering the remaining 43%. 2. Estimate the dollar value of the construction project (do not include land cost): 500 000. 3. •The real property for which tax abatement consideration is petitioned (Property) is owned or to be owned by the following individual(s) or corporations (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 i. Patrick Matthews & Aimee G. Matthews, P.O. Box 338, Notre Dame, IN 46556. 4. The commonly known address of the Property is:_3111 Corby Blvd. South Bend, IN 4661.5 and having tax key no.:_018-5189-742101 (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. The current assessed valuation of the property before construction is 317 100 (use additional sheet for multiple addresses). (This information may be obtained from the St. Joseph County Assessor's Office, 235- 9523) . 8. Photographs of the Property, taken within two (2) weeks of the filing of this petition, are attached hereto, marked Exhibit C, and incorporated herein. 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): 12/15/2005 $32,373.78 (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: 500 000.