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Home My WebLink AboutConfirming Tax Abatement - Various Basin, Royal, Charles, Canal Blvd - Tampico Developments, LLCRESOLUTION 3862-08 Passed by the Common Council of the City of South Bend, Indiana May 12, Attest: City Clerk President of Common Council Presented by me to the Mayor of the City of South Bend, Indiana May 13, Zo 08 20 08 Approved and signed by me May 15 Zo 08 , ~i~ue L~~ City Clerk ~' RESOLUTION NO. -3 8~ Z- ~ A RESOLUTION CONFIRMING THE ADOPTION OF A DECLARATORY RESOLUTION DESIGNATING CERTAIN AREAS WITHIN THE CITY OF SOUTH BEND, INDIANA, COMMONLY KNOWN AS 2107 BASIN STREET OR 5421 ROYAL STREET, 5.413 AND 5405 ROYAL STREET, 2205, 2213, 2221, 2229, 2237, 2245, 2303, 2311, 2314, 2306, 2236, 2228, 2220, 2212 ST. CHARLES STREET, 2204 ST. CHARLES STREET OR 5422 ROYAL STREET, 2203 CANAL BOULEVARD OR 5430 ROYAL STREET, 2211, 2219, 2227, 2235, 2307, 2315, 2314, 2306, 2238, 2230, 2222 AND 2214 CANAL BOULEVARD AS RESIDENTIALLY DISTRESSED AREAS FOR PURPOSES OF A (5) FIVE-YEAR RESIDENTIAL REAL PROPERTY TAX ABATEMENT FOR TAMPICO DEVELOPMENTS, LLC WHEREAS, the Common Council of the City of South Bend, Indiana, has adopted a Declaratory Resolution designating certain areas within the City as Residentially Distressed Areas for the purpose of tax abatement consideration; and WHEREAS, a Declaratory Resolution designated the area commonly known as 9.82 acres in the NW1/4, Section 32, T37N, R3E, South Bend, Indiana, and which is more particularly described as follows: 31 lots located within the proposed Crescent Oaks, Section One A PARCEL OF LAND BEING A PART OF PARENT PART OF LAND AS DESCRIBED IN DEED RECORD INSTRUMENT NUMBER 9944308 AS RECORDED IN OFFICE OF RECORDER OF ST. JOSEPH COUNTY, INDIANA, IN PART OF THE NORTHWEST QUARTER OF SECTION 32, TOWNSHIP 37 NORTH, RANGE 3 EAST, PENN TOWNSHIP, CITY OF SOUTH BEND, INDIANA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 32; THENCE SOUTH 00 DEGREES 16 MINUTES 29 SECONDS EAST ALONG THE WEST LINE OF SAID NORTHWEST QUARTER; A DISTANCE OF 1363.59 FEET TO THE POINT OF BEGINNING; THENCE NORTH 89 DEGREES 53 MINUTES 49 SECONDS EAST ALONG THE SOUTH LINE OF A PARCEL OF LAND AS RECORDED UNDER INSTRUMENT NUMBER 8634826 IN THE OFFICE OF SAID RECORDER, A DISTANCE OF 753.67 FEET; THENCE SOUTH 00 DEGREES 00 MINUTES 00 SECONDS WEST, A DISTANCE OF 624.74 FEET; THENCE SOUTH 89 DEGREES 51 MINUTES 58 SECONDS WEST ALONG THE NORTH LINE OF STONEHEDGE ESTATES, SECTION THREE, PART TWO AND STONEHEDGE ESTATES, SECTION II, AS RECORDED UNDER INSTRUMENT NUMBERS 9516217 AND 9236154, RESPECTNELY, IN THE OFFICE OF SAID RECORDER, A DISTANCE OF 750.68 FEET TO THE WEST LINE OF SAID NORTHWEST QUARTER; THENCE NORTH 00 DEGREES 16 MINUTES 29 SECONDS WEST ALONG SAID WEST LINE, A DISTANCE OF 625.15 FEET TO THE POINT OF BEGINNING; SAID DESCRIBED PARCEL CONTAINING 10.791 ACRES, MORE OR LESS; SUBJECT TO ANY EASEMENTS, COVENANTS, RESTRICTIONS, AND RIGHTS OF WAY OF RECORD. LEGAL DESCRIPTION HEREIN PREPARED BY THOMAS A. OESTERLING, REGISTERED LAND SURVEYOR, INDIANA LICENSE NUMBER 11462, EMPLOYED BY ABONMARCHE CONSULTANTS OF INDIANA, LLC, FOR TAMPICO DEVELOPMENTS, L.L.C., ON APRIL 14, 2008. LINE BEARING DATUM DESCRIBED HEREIN BEING RELATNE TO SAID STAFFORDSHIRE ESTATES, SECTION TWO SUBDNISION. and these lots do not yet have individual key numbers but are part of the parcel with the Tax ID Number 26-1035-0589.02 be designated as a Residentially Distressed Area under the provisions of Indiana Code 6-1.1-12.1 et sea., and South Bend Municipal Code Sections 2-76 et seq., and; WHEREAS, notice of the adoption of a Declaratory Resolution and the public hearing before the Council has been published pursuant to Indiana Code 6-1.1-12.1-2.5; and WHEREAS, the Council held a public hearing for the purposes of hearing all remonstrances and objections from interested persons; and WHEREAS, the Council has determined that the qualifications for a residentially distressed area have been met. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby determines and finds that the petition for real property tax abatement and the Statement of Benefits form meet the requirements of Indiana Code 6-1.1-12.1 et seq., for tax abatement. SECTION II. The Common Council hereby determines and finds that the area meets one of the following conditions as formally established in Ordinance No. 9394-03, which was passed on February 10, 2003: A. The azea is comprised of parcels that are either unimproved or contain only one (1) or two (2) family dwellings designed for up to four (4) families, including accessory buildings for those dwellings; or B. Any dwellings in the area aze not permanently occupied and are: i. the subject of an order issued under IC 36-7-9; or ii. evidencing significant building deficiencies; or 2 C. Parcels of property in the area: i. have been sold and not redeemed under IC 6-1.1-24 and IC 6-1.1-25; or ii. are owned by a unit of local government; or D. A significant number of dwelling units within the area are not permanently occupied or a significant number of parcels in the area are vacant land; or E. A significant number of dwelling units within the area are: i. the subject of an order issued under IC 36-7-9; or ii. evidencing significant building deficiencies; or F. The area has experienced a net loss in the number of dwelling units, as documented by census information, local building and demolition permits, or certificates of occupancy, or the areas are owned by Indiana or the United States; or G. The area (plus any areas previously designated under this subsection) will not exceed ten percent (10%) of the total area within the Council's jurisdiction. SECTION III. The Common Council also hereby determines and finds the following: A. That the description of the proposed redevelopment meets the applicable standards for such development. B. That the estimate of the value of the redevelopment is reasonable for projects of this nature; C. That the other benefits about which information was requested are benefits that can be reasonably expected to result from the proposed described redevelopment; and D. That the totality of benefits is sufficient to justify the requested deduction, all of which satisfy the requirements of Indiana Code 6-1.1-12.1-3. E. The deduction will not be allowed unless the dwelling is rehabilitated to meet local code standards for habitability. F. The deduction will not be allowed unless the dwelling rehabilitation is completed within five (5) calendar years from the date of the adoption of this Resolution by the Common Council. SECTION IV. The Common Council hereby confirms its Declaratory Resolution designating the area described herein as a Residentially Distressed Area for the purposes of tax abatement. Such designation is for Real property tax abatement only and is limited to five (5) calendar years from the date of adoption of the Declaratory Resolution by the Common Council. SECTION V. The Common Council hereby determines that the property owner is qualified for and is granted Real property tax deduction for a period of five (5) years, and further determines that the petition complies with Chapter 2, Article 6, of the Municipal Code of the City of South Bend and Indiana Code 6-1.1-12.1 et seQ. SECTION VI. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. 'RESENTED S - (Z ~$ NOT APPROVED ADOPTED '~ S~tZ-dg 4 r Member of the Co on Council Filed !r ~l k'~ ~a~fice 'J LUJJ JOHN VOORDE CITY CLERK, S0. BEND, IN. 1200 COUNTY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PHONE 574/235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY ~L ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECUTIVE DIRECTOR Apri19, 2008 Council Member Derek D. Dieter, Chairperson Community & Economic Development Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Residential Real Property Tax Abatement Petition for: Tampico Developments, LLC Dear Council Member Dieter: Please find attached the Department of Community & Economic Development's report on a residential real property tax abatement petition submitted by Brian Miller of Tampico Developments, LLC.. They intend to develop the undeveloped agricultural property into thirty-one residential lots located within Crescent Oaks, Section One. Also attached is a copy of the petition, Statement of Benefits form, and supporting information. The report contains the department's findings relative to the above petition. The petitioner proposes to develop the thirty-one lots at a cost of $5,735,000. The project meets the qualifications fora (5) five- year real property tax abatement. The petitioner will be available to meet with the Committee on Monday, April 28, 2008. Should you or any of the other Council members have any questions concerning the report, or need additional information, please feel free to call me at 235-5835. Sincerely, ~~~ ~~a .~ Bob Mathia Assistant Director, Economic Development Attachments cc: South Bend Common Council Members Mayor Stephen Luecke Jeff Gibney Don Inks COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL ~ PROGRAM PA~+e~A C. MEYER DONALD E. INKS MANAGEMENT 574/235-9660 5741235-9371 ELIZABETH LEONARD FAX: 574/235-9697 574/235-9371 TAX ABATEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BOB MATHIA SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: TAMPICO DEVELOPMENTS, LLC DATE: Apri19, 2008 On Apri17, 2008, a petition for residential tax abatement consideration for un-platted real property located approximately %2 mile south of the intersection of Jackson and Ironwood Roads on the east side of Ironwood (NW '/4, Section 32, T37N, R3E) was filed with the City Clerk by Brian Miller of Tampico Developments, LLC. Pursuant to Chapter 2, Article 6, Section 2-77.1 of the Municipal Code of the City of South Bend, this petition was referred to the Department of Community and Economic Development for purposes of investigation and preparation of a report determining whether the area qualifies as a Residentially Distressed Area pursuant to I.C.6-1.1-12.1 and whether all zoning requirements have been met. The Department of Community and Economic Development has reviewed the petition (a copy of which is attached), investigated the area, and makes the following report. PROJECT DESCRIPTION Tampico Developments, LLC of 828 East Jefferson Boulevazd, South Bend, IN intends to develop 9.82 acres of agricultural farmland into 31 residential lots. The lots will be located within the proposed development called Crescent Oaks. The development will include approximately 1,427 lineaz feet of public streets, one stormwater retention area, and the associated public and private utilities. The homes will be built by Weiss Homes and will range in size from 1,300 to 2,000 square feet and will include basements. The estimated price of each home is $185,000. Total taxes to be abated during the (5) five-yeaz abatement period on one home are estimated at $10,262.19. Total taxes to be paid during the (5) five-yeaz abatement period on one home are estimated at $7,451.34. For 31 homes, the taxes abated would be $318,127.89 for five years and the taxes paid would be $230,991.54 for five years. . South Bend Common Council RE: Tampico Developments, LLC Apri19 , 2008 Page 2 ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted, finds that the petitioner, Tampico Developments, LLC, has been associated with or granted the previous tax abatements. Tenm/Type Resolution No. Date 5 year real property 3352-04 07/12/04 5 year real property 3398-04 10/25/04 5 year real property 3480-OS 07/08/05 Z. The Building Commissioner has reviewed this petition and finds the properties to be properly zoned for the proposed project. 3. A review of the South Bend Redevelopment designation areas finds that the property is not located in any of the development areas; therefore, approval of the tax abatement petition by the South Bend Redevelopment Commission is not required. 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that the petitioner meets the qualifications fora (5) five-year residential tax abatement under Section 2-77.1, Single Family Residential Construction. 5 YEAR 9-Apr-08 TAMPICO DEVELOPMENTS, LLC South Bend Portage Township Residential Real Property Tax Abatement Schedule* Estimated Project Cost: Assessed Value: STRUCTURE (assume 85% of project cost) LAND (assume $10,000} Gross Assessed Value Less Mortgage Exemption Less Standard Homeowners Deduction Base Assessed Value $185,000.00 Total Taxes Tax Abated** Tax Paid*** 157, 250.00 157,250.00 157,250.00 10,000.00 N/A N/A 167,250.00 157,250.00 157,250.00 (3,000.00) (3,000.00) (3,000.00) (35,000.00) (35,000.00) (35,000.00) 129, 250.00 119, 250.00 119, 250.00 Less Maximum Abatement Deduction Less Non-Abated Amount Plus Land Assessed Value Net Assessed Value Property Taxes: Assume constant tax rate of N/A N/A (74,880.00) N/A (44,370.00) N/A N/A N/A 10,000.00 129,250.00 74,880.00 54,370.00 5.1524% 5.1524% 5.1524% Gross Tax (tax rate x net assessed value) 6,659.48 3,858.12 2,801.36 Less SRTC: 21.6906% (1,444.48) (836.85) (607.63) Less Homestead Credit: 32.0670% (1,672.29) (968.83) (703.46) Net Tax 3,542.71 2,052.44 1,490.27 Year Net Assessed Value Total Taxes Due Tax Abated Tax Paid 1 129,250.00 3,542.71 2,052.44 1,490.27 2 129,250.00 3,542.71 2,052.44 1,490.27 3 129,250.00 3,542.71 2,052.44 1,490.27 4 129,250.00 3,542.71 2,052.44 1,490.27 5 129,250.00 3,542.71 2,052.44 1,490.27 5 year totals: 17,713.53 10,262.19 7,451.34 *This schedule is for estimation purposes only and assumes constant tax rates. The true tax values will ultimately be determined by the actual assessed valuation and the then current tax rates. **Tax Abated is capped at $74,880 of assessed value of structures only and does not include land assessed value. ***Tax Paid is calculated using the difference between actual assessed value of structure and maximum abated portion of $74,880 and adding back the land assessed value. ESTIMATED TOTAL TAX REVENUE Tampico Developments, LLC 31 lots LAND* BUILDINGS""` TOTAL Year 1 $312 $46,198 $46,510 Year 2 312 46,198 46,510 Year 3 312 46,198 46,510 Year4 312 46,198 46,510 Year 5 312 46,198 46,510 Total $1,560 $230,990 $232,550 "Current tax levy for the 9.83 acres "Includes 31 houses. CITY OF SOUTH BEND, INDIANA PETITION FOR RESIDENTIAL TAX ABATEMENT CONSIDERATION The undersigned owner(s) of real properly, 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 i.C.. 6-1.I-12.1-I, et se .and South Bend Municipal Code Sec. 2-76 et se .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 tot a importance of the project (use additional sheet for long project descriptions): .~ ~-- {~/lo~sloc~ S1nJG,t.~ FAMtt.~ 2ES-i7Enrs~ll~t_. S~iaptdlscor~J 1r»4t.. p2oJtt~ 3 1 LOTS c9N R.BZ- ~jGP-mac. if~-cS SL-c~ont ~F Z?~_U~1~~toPMc-rJ3-' 1,J~W-- ~21J~i~ u-t-tt-~z-+~s 1-~s,M~S W-~~ (-~A-n~~,F ~tJ stZ~ ~/~M t,3~ r-~~ Z o00 ~i.FT, (}N 1] w~l..t.. tr.~ct.Jp~-- (3,~}SEM~n1i S . ' 2. Estimate the dollar value of the construction project (do not include land cost): $ ~,Q'3~-~~ 3. The real properly 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 publiclyheld,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): Address Interest - ~,o~rl~-t- i~eNr~~ i~ 4tolol7 4. The commonly known address of the Property is: S~'E-. A-+-T~4~D and having tax key no.: SSG ATt`A~a _ (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 $ (oq, 3t~~ (use additional sheet for multiple addresses). (This information maybe obtained from the St. Joseph County Assessor's Office 235-9523) ,~~,~SL-Sapp ~At~lArilo~.f t~F ~A-Na ov~3t.~ ~G PA~RENT~.{$8 u...~s{~A.~t-av, tA~- t~D. ~ ~-8~ Z. 8. Photographs of the Property, taken within two (2) weeks of the filtng o tics petition, are attached herefo, 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 : ~k-TAx~~s t~2 t^'t"~' Di1A''' ~r5 705' Taac~ s = ~ t l .q coo . f 3 PA-t D C~ se sS.~ 9 61 cwsl~~ T~ (3~ A~ssE~-~ n; A- u~,'x2. t~r~F 7_7gy .1 ?Ao7, (This information~may be obtained from the St. Joseph County Treasurers office 235-9531) ~ TA-~S A2~ lea--'n~-F ~'f-98 ~~ p~~ PAru.cc. f~v-,~c, i~ t•s~. #~ of ~'~aoas-c~s~',.oz 10. What is your best estimate of the after completion market value of the property: $ ~, 735 000 . ~; 11. No building perrnit has been issued for construction on the property in connection with the improvement in question as of the date of filing of this petition. The building permit may be issued after the South Bend Common Council has approved the Declaratory Resolution. (Tax abatement is nat available if a building permit has already been issued). The signature below is verification of this statement. 12. List o they a nticipated p ublic f financing f or the p roject, i ncluding a ny a ssistance L o b e s ought a r already authorized through the United States Department of I-Iousing and Urban Development funds from the City of South Bend, South Bend Housing Authority, Housing Assistance Office, St. Joseph County Housing Consortium or other public financial assistance, including but not limited to public works impxovernents: ~oN t= 13. Describe how the property has become undesirable for or impossible of normal development because of a lack of development, cessation of growth, deterioration of improvements or other factors which have impaired values and prevent a normal development of the property: .~~`3r„~.~-~,~~"iv~.1T ~S tJF~~DhD DJ~ 'ice ~NDF~IE~APF~ L•s~nlc~ irWc~-I-J `n-1.~ -- (~:-~~ P/LoP/~3-~ ~cJ~4-S A-eJ~.J/'.[,cb [~Ji1~ 7?f~ G~T~ f~~-JCErI X980-19$9 •AuA .Nh~S 'Sr1G~ ts~ ~ (~-s U,~r~Jti...wPrr-~n pf~~~~~2a-L- P2o~F.2'r-~ '~1~ A~CS~4-T~,~- wiw A-iD t N ~ MAn-+~c.~"-"~ NG ~~ sE~i N ~a o ~ , 3~}~ corS . 14. The current use of the property is , ~6,2t Gy~-~J~21~t~ ,( /A-u4~i I.A-N.~ and the current zoning is ~-1 (use} and _~_ Hn~i~r~= (This information maybe obtained from the Building Department 235-9553) 15. The property is located in the following Allocation Area (if any) declared and confirmed by the South Bend Redevelopment Commission (requiring approval of the tax abatement by the Redevelopment Commission): Nom- 16. The following person should be contacted as the petitioners agent regarding additional information and public hearing notifications: Name Addre City, ; Telephone 1~?~ z3z 87av WHEREFORE, Petitioner has paid the required fee of $50.00 and requests that the Common Council of the City of South Bend, Indiana, adopt a declaratory resolution designating the area described herein as a residentially distressed area for the purposes of real property tax abatement consideration, and after publication of notice and public hearing, determine that th qualifications for a residentially distressed area have been met, and confirm such resolution. Name of Property Owner(s): ~` ark's ~iiice ~i;~~ Ili APR _ -~ 2008 jQraE JG,;, E~'~D, t~• Cm O~~,itG, S~~ ~ 1.JEa/F.,c.oP~ ~'AMP~G'a By: ~ (signature) ~2tAn1 /YIIt.~.C/L. ~ VP o~ OP~nA~otils (Typed or printed name and capacity) 2 Property Addresses Crescent Oaks, Section One (Proposed) Lots 1 Address Tax Kew#s 2107 Basin Street or 5421 Royal Street Unavailable for all lots. 2 5413 Royal Street 3 5405 Royal Street 4 2205 St.~Chazles Street 5 2213 St. Chazles Street 6 2221 St. Chazles Street 7 2229 St. Charles Street 8 2237 St. Chazles Street 9 2245 St. Charles Street 10 2303 St. Charles Street 11 2311 St. Chazles Street 12 2314 St. Charles Street 13 2306 St. Chazles Street 14 2236 St. Chazles Street 15 2228 St. Charles Street 16 2220 St. Chazles Street 17 2212 St. Charles Street 18 2204 St. Charles Street or 5422 Royal Street 19 2203 °,~ Canal Boulevard or 5430 Royal Street 20 2211 Canal Boulevard 21 2219 Canal Boulevard 22 2227 Canal Boulevazd 23 2235 Canal Boulevard 24 2307 Canal Boulevazd 25 2315 Canal Boulevard 26 2314 Canal Boulevard 27 2306 Canal Boulevazd 28 2238 Canal Boulevazd 29 2230 Canal Boulevard 30 2222 Canal Boulevazd 31 2214 Canal Boulevard The tax key number of the parent parcel is 26-1035-0589.02. Tax key numbers for the individual lots included within Crescent Oaks, Section One will be assigned by the County Auditor's office after the Secondary Plat is recorded. F: IProjectslM7-07841Tax Abatementitax abatement -sect 1-property addresses & tar key numbers.doc Fc1~d In 01er '~ Ofifice APR - 7 2008 JG~?Pr VQQfl~c EXHIBIT "A" LEGAL DESCRIPTION: CRESCENT OAKS, SECTION ONE (PROPOSED) A PARCEL OF LAND BEING A PART OF PARENT PART OF LAND AS DESCRIBED IN DEED RECORD INSTRUMENT N-UMBER 9944308 AS RECORDED IN OFFICE OF RECORDER OF ST. JOSEPH COUNTY, INDIANA, IN PART OF THE NORTHWEST QUARTER OF SECTION 32, TOWNSHIP 37 NORTH, RANGE 3 EAST, PENN TOWNSHIP, CITY OF SOUTH BEND, INDIANA, MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID SECTION 32; THENCE SOUTH 00 DEGREES 16 MINUTES 57 SECONDS EAST ALONG THE WEST LINE OF SAID NORTHWEST QUARTER; A DISTANCE OF 1363.61 FEET TO THE POINT OF BEGINNING; THENCE NORTH 89 DEGREES 53 MINiJTES 49 SECONDS EAST, A DISTANCE OF 709.74 FEET; THENCE SOUTH 00 DEGREES 00 MINUTES 00 SECONDS WEST, A DISTANCE OF 122.75 FEET; THENCE SOUTH 00 DEGREES 08 MINUTES 02 SECONDS EAST, A DISTANCE OF 60.00 FEET; THENCE SOUTH 89 DEGREES 51 MINUTES 58 SECONDS WEST, A DISTANCE OF 29.75 FEET; THENCE SOUTH 00 DEGREES 16 MINUTES 57 SECONDS EAST, A DISTANCE OF 252.00 FEET; THENCE NORTH 89 DEGREES 51 MINUTES 58 SECONDS EAST, A DISTANCE OF 3.77 FEET; THENCE SOUTH 00 DEGREES 16 MINUTES 57 SECONDS EAST, A DISTANCE OF 190.01 FEET; THENCE SOUTH 89 DEGREES S 1 MINUTES 58 SECONDS WEST, A DISTANCE OF 683.00 FEET TO THE WEST LINE OF SAID NORTHWEST QUARTER; THENCE NORTH 00 DEGREES 16 MINiJTES 57 SECONDS WEST ALONG SAID WEST LINE, A DISTANCE OF 625.15 FEET TO THE POINT OF BEGINNING; SAID DESCRIBED PARCEL CONTAINING 9.888 ACRES, MORE OR LESS; SUBJECT TO ANY EASEMENTS, COVENANTS, RESTRICTIONS, AND RIGHTS OF WAY OF RECORD. LEGAL DESCRIPTION HEREIN PREPARED BY THOMAS A. OESTERLING, REGISTERED LAND SURVEYOR, INDIANA LICENSE NUMBER 11462, EMPLOYED BY ABONMARCHE CONSULTANTS OF INDIANA, LLC, FOR TAMPICO DEVELOPMENTS, L.L.C., ON MARCH 27, 2008. LINE BEARING DATUM DESCRIBED HEREIN BEING RELATIVE TO SAID STAFFORDSHIRE ESTATES, SECTION TWO SUBDNISION. E:\CPJIL 3D\ENG PROJ\M70784\surveyVegals\Crescent Oaks, Section One -Tax Abatement.doc ~~~~:~ In ~1~r~~'~ ~:~=rye ^; P R - 7 2008 ~Ura}~ vco~o=