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Home My WebLink AboutNo. 2452 aproving an application for real property tax deduction (Villas at Lake Blackthorn Sec I)RESOLUTION N0.2452 • C~ • A RESOLUTION APPROVING AN APPLICATION FOR REAL PROPERTY TAX DEDUCTION WHEREAS, I.C. 6-1.1-12.1-2(1) provides that an application for property tax deduction may not be approved when the property is located in an allocation area as defined in I.C. 36-7-14-39, unless the Redevelopment Commission which designated that allocation area adopts a resolution approving that application; and WHEREAS, the South Bend Common Council has received a petition for (5) five years of real property tax abatement consideration from Cooreman Real Estate Group, Inc. for real property located at The Villas At Lake Blackthorn - Section I in the Airport Economic Development Area, the development area location and legal description of which are attached hereto, marked Exhibit "A" and incorporated herein; and WHEREAS, this Commission declared the Airport Economic Development Area by Resolution No. 919, adopted February 23, 1990, and in the same resolution declared the Airport Economic Development Allocation Area, Allocation Area No. 1; and WHEREAS, the property located at The Villas At Lake Blackthorn - Section I is located within the Airport Economic Development Allocation Area, Allocation Area No. 1; NOW, THEREFORE, BE IT RESOLVED by the South Bend Redevelopment Commission as follows: 1) The Commission finds that the application from Cooreman Real Estate Group, Inc. for five (5) years of real property tax abatement consideration for property located at The Villas At Lake Blackthorn - Section I in the Airport Economic Development Allocation Area, Allocation Area No. 1 should be and is hereby approved. 2) That a copy of this resolution be forwarded to the South Bend Common Council to indicate the Commission's approval of the petition for real property tax abatement for Cooreman Real Estate Group, Incorporated. Approved this 2nd day of May, 2008, at the regular meeting of the South Bend Redevelopment Commission. SOUTH BEND ATTEST: Kart ~' f ory S. Downes, S retary EVELOPMENT COMMISSION ident EXHIBIT A • LEGAL DESCRIPTION: THE VILLAS AT LAKE BLACKTHORN, SECTION ONE A PART OF THE NORTHWEST, SOUTHWEST, AND SOUTHEAST QUARTERS OF SECTION ] 8, TOWNSHIP 38 NORTH, RANGE 2 EAST, GERMAN TOWNSHIP, CITY OF SOUTH BEND, ST. JOSEPH COUNTY, INDIANA BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHEAST CORNER OF THE SOUTHEAST QUARTER OF SECTION 18, TOWNSHIP 38 NORTH, RANGE 2 EAST, 5.8 FEET SOUTH OF A 2"IRON MONUMENT WITH A CAP LABELED "SEC. CORNER";THENCE SOUTH 89 DEGREES 49 MINUTES 49 SECONDS WEST, A DISTANCE OF 1549.41 FEET TO THE WEST RIGHT OF WAY OF U.S. ROUTE 31 AND THE POINT OF BEGINNING; THENCE ALONG SAID WEST RIGHT OF WAY THE FOLLOWING NINE (9) COURSES: (1) SOUTH 17 DEGREES 36 MINUTES 51 SECONDS WEST, A DISTANCE OF 85.66 FEET; (2) THENCE SOUTH 25 DEGREES 35 MINUTES 58 SECONDS WEST, A DISTANCE OF 409.65 FEET TO THE POINT OF CURVATURE OF ANON-TANGENT CURVF,, CONCAVE TO THE EAST, HAVING A RADIUS OF 5950.00 FEET, A CENTRAL ANGLE OF 8 DEGREES 59 MINUTES 58 SECONDS, AND A CHORD OF 933.60 FEET BEARING SOUTH 12 DEGREES 00 MINUTES 23 SECONDS WEST; (3) THENCE SOUTH ALONG SAID RIGHT OF WAY CURVE, A DISTANCE OF 934.56 FEET; (4) THENCE SOUTH 16 DEGREES 02 MINUTES 40 SECONDS WEST, A DISTANCE OF 211.20 FEET; (5) THENCE SOU'T'H 38 DEGREES 30 MINUTES 20 SECONDS WES"1", A DISTANCE OF 481.60 FEE"1'; (6) THENCE NORTH 0 DEGREES 45 MINUTES 39 SECONDS FAST, A DISTANCE OF 1 14.32 FEET TO THE NOR"THEAST CORNER OF LAND DESCRIBED IN DEED RECORD BOOK 74 ],PAGES 475-477, AS RECORDED IN THE OFFICE OF RECORDER OF ST. JOSEPH COUNTY, INDIANA; (7) THENCE SOUTH 35 DEGREES 15 MINUTES 20 SECONDS WEST, A DISTANCE OF 40].95 FEET; (8) THENCE SOUTH 2 DEGREES 36 MINUTES 09 SECONDS WEST, A DISTANCE OF 256.87 FEET; (9) THENCE SOUTH 85 DEGREES 31 MINUTES 45 SECONDS WEST, A DISTANCE OF 199.30 FEET TO THE SOUTHEAST CORNER OF LAND DESCRIBED IN INSTRUMENT NUMBER 8717366, AS RECORDED IN THE OFFICE OF SAID RECORDER; THENCE ALONG THE EAST LINE OF SAID LAND, NORTH 0 DEGREES 15 MINUTES 44 SECONDS EAST, A DISTANCE OF 181.22 FEET; THENCE ALONG THE NORTH LINE OF SAID LAND, NORTH 89 DEGREES 48 MINUTES 51 SECONDS WEST, A DISTANCE OF 323.58 FEET; THENCE NORTH 0 DEGREES 03 MINUTES 20 SECONDS WEST, A DISTANCE OF 500.00 FEET; THENCE NORTH 89 DEGREES 48 MINUTES 51 SECONDS WEST, A DISTANCE OF 2.00 FEET; THENCE NORTH 0 DEGREES 03 MINUTES 20 SECONDS WEST, A DISTANCE OF 100.00 FEET; THENCE SOUTH 89 DEGREES 48 MINUTES 51 SECONDS EAST, A DISTANCE OF 2.00 FEET; THENCE NORTH 0 DEGREES 03 MINUTES 20 SECONDS WEST, A DISTANCE OF 500.00 FEET; THENCE NORTH 89 DEGREES 48 MINUTES 51 • SECONDS WEST, A DISTANCE OF 2.00 FEET; THENCE NORTH 0 DEGREES 03 MINUTES 20 SECONDS WEST, A DISTANCE OF 100.00 FEET; THENCE SOUTH 89 DEGREES 48 MINUTES 51 SECONDS EAST, A DISTANCE OF 2.00 FEET; THENCE NORTH 0 DEGREES 03 MINUTES 20 SECONDS WEST, A DISTANCE OF 800.00 FEET TO THE SOUTHWEST CORNER OF LOT "A" AS DEPICTED IN THE REPEAT OF RIGHTER'S ORANGE ROAD MINOR SUBDIVISION, DESCRIBED IN INSTRUMENT NUMBER 8525803, AS RECORDED IN T] IE OFFICE OF SAID RECORDER; THENCE ALONG THE SOUTH LINE OF SAID LOT "A", NORTH 89 DEGREES 50 MINUTES 13 SECONDS EAST, A DISTANCE OF 100.00 FEET; THENCE ALONG THE EAST LINE OF SAID LOT "A",NORTH 0 DEGREES 03 MINUTES 20 SECONDS WEST, A DISTANCE OF 251.56 FEET TO THE POINT OF CURVATURE OF ANON-TANGENT CURVE, BEING THE CENTERLINE OF ORANGE ROAD, CONCAVE 'I'O THE NORTH, HAVING A RADIUS OF 335.00 FEET, A CENTRAL ANGLE OF 19 DEGREES 18 MINUTES 44 SECONDS, AND A CHORD OF 112.38 FEET BEARING NORTH 67 DEGREES 34 MINUTES 35 SECONDS EAST; TI-IENCE EAST ALONG SAID CENTERLINE CURVE, A DISTANCE OF 112.92 FEET; THENCE SOUTH 0 DEGREES 11 MINUTES 04 SECONDS EAST, A DISTANCE OF 70.83 FEET TO THE SOUTHWEST CORNER OF LOT 1 OF BOGUE'S MAJOR SUBDIVISION, DESCRIBED IN INSTRUMENT NUMBER 8932797, AS RECORDED IN THE OFFICE OF SAID RECORDER AND THE NORTHWEST CORNER OF LAND DESCRIBED IN INSTRUMENT NUMBER 9331954, AS RECORDED IN THE OFFICE OF SAID RECORDER; THENCE ALONG THE BOUNDARY OF SAID LAND THE NEXT THREE (3) COURSES; (1) SOUTH 26 DEGREES 45 MINUTES 04 SECONDS EAST, A DISTANCE OF 66.96 FEET; (2) THENCE NORTH 89 DEGREES 49 MINUTES 49 SECONDS EAST, A DISTANCE OF 556.25 FEET; (3) THENCE NORTH 0 DEGREES 45 MINUTES 39 SECONDS EAST, A DISTANCE OF 80.00 FEET TO THE NORTH LINE OF THE SOUTH HALF OF SECTION 18, TOWNSHIP 38 NORTH, RANGE 2 EAST; THENCE ALONG SAID NORTH LINE NORTH 89 DEGREES 49 MINUTES 49 SECONDS EAST, A DISTANCE OF 729.56 FEET TO THE POINT OF BEGINNING. EXCEPTING THAT PORTION WHICH INCLUDES LOTS 1 THROUGH 5 INCLUSIVE, OP THE VILLAS AT LAKE BLACKTHORN SECTION ONE, AS SHOWN ON THE FINAL PLAT, RECORDED APRIL 21, 2003, IN THE OFFICE OF THE RECORDER OF S"I'. JOSEPH COUNTY, AS INSTRUMENT #0323151. SAID DESCRIBED TRACT CONTAINING 56.25 ACRES, MORE OR LESS. SUBJECT TO ALL, EASEMENTS, AND RIGI-IT OF WAY OF RECORD. • LOT NUMBERS, TAX KEY NUMBERS AND ADDRESSES: THE VILLAS AT LAKE BLACKTHORN, SECTION ONE • • Assessed Taxes Taxes Value 2007 payable payable LOT # STREET ADDRESS KEY # 2007 2006 VLB lot 6 4622 Lake Blackthorn Drive 025-1010-017624 4200 165.74 148.78 6616 Dockside Drive 5700 224.93 205.08 VLB lot 7 6568 Dockside Drive 025-1010-017625 4100 161.79 148.78 VLB lot 8 4636 Starboard Drive 025-1010-017626 00 130 64 120 VLB lot 9 4644 Starboard Drive 025-1010-017627 3300 . 134 17 . 124 66 VLB lot 11 4710 Starboard Drive 025-1010-017629 3400 . . VLB lot 12 4720 Starboard Drive 025-1010-017630 3700 146.01 132.7 VLB lot 13 4728 Starboard Drive 025-1010-017631 3700 146.10 132.70 VLB lot 15 4746 Starboard Drive 025-1010-017633 3600 152.06 128.68 VLB lot 17 4814 Starboard Drive 025-1010-017635 3900 153.9 140.74 VLB lot 18 4822 Starboard Drive 025-1010-017636 5000 197.3 180.96 6506 Still Waters Court VLB lot 19 6510 Still Waters Court 025-1010-017637 4200 135.74 148.78 VLB lot 21 6507 Still Waters Court 025-1010-017639 3700 146.01 132.70 VLB lot 26 4938 Stern Line Court 025-1010-017644 3400 134.17 124.66 VLB lot 27 4946 Stern Line Court 025-1010-017645 3800 149.95 136.72 VLB lot 28 4954 Stern Line Court 025-1010-017646 3800 149.95 136.72 VLB lot 29 5004 Stern Line Court 025-1010-017647 3700 146.01 132.70 VLB lot 32 5011 Stern Line Court 025-1010-017650 4700 185.47 168.88 6505 Cudd Court 3400 134.17 124.66 VLB lot 37 4935 Stern Line Court 025-1010-017655 4100 161.79 148.78 VLB lot 39 4915 Stern Line Court 025-1010-017657 4400 173.63 156.82 VLB lot 40 6535 Leewa Drive 025-1010-017658 4906 Masthead Court VLB lot 43 5006 Masthead Court 025-1010-017661 3800 149.95 136.72 VLB lot 46 5015 Masthead Court 025-1010-017664 3600 142.06 128.68 VLB lot 49 4917 Masthead Court 025-1010-017667 3500 138.11 128.68 VLB lot 54 5002 Bow Line Court 025-1010-017672 4000 157.85 144.76 VLB lot 55 5010 Bow Line Court 025-1010-017673 4400 173.63 156.82 VLB lot 56 5013 Bow Line Court 025-1010-017674 4200 165.74 148.78 VLB lot 57 5003 Bow Line Court 025-1010-017675 3600 142.06 128.68 VLB lot 59 4925 Bow Line Court 025-1010-017677 3400 134.17 120.64 VLB lot 60 4919 Bow Line Court 025-1010-017678 3400 134.17 124.66 VLB lot 69 4738 Portside Drive 025-1010-017687 2500 98.66 88.46 VLB lot 72 4712 Portside Drive 025-1010-017690 47800 1886.27 ~ VLB lot 73 4704 Portside Drive 025-1010-017691 4500 177.58 ? VLB lot 75 4627 Pier Court 025-1010-017693 4700 185.47 168.88 VLB lot 77 4611 Pier Court 025-1010-017695 3900 153.90 136.72 VLB lot 78 4603 Pier Court 025-1010-017696 3500 138.11 124.66 VLB lot 79 4604 Pier Court 025-1010-017697 3600 142.06 128.68 VLB lot 80 4614 Pier Court 025-1010-017698 3500 138.11 124.66 VLB lot 81 4624 Pier Court 025-1010-017699 4700 185.47 168.88 VLB lot 82 4632 Pier Court 025-1010-0177 5500 217.04 197.04 6626 Dockside Drive VLB lot 85 6613 Dockside Drive 025-1010-017703 69100 2726.81 2778.68 VLB lot 88 4645 Starboard Drive 025-1010-107706 5000 197.30 180.96 VLB lot 89 4703 Starboard Drive 025-1010-017707 4500 177.58 160.86 VLB lot 90 4711 Starboard Drive 025-1010-017708 4600 181.53 164.88 VLB lot 91 4719 Starboard Drive 025-1010-017709 5200 205.20 184.98 VLB lot 93 6530 Lake Crest Circle 025-1010-017711 52500 2071.75 ? • • * NOTE: These 2 parcels were recently re-platted and do not have new key numbers assigned yet. The key numbers listed here reflect the previously assigned ones for lots 98 and 99B. The Assessed Value is an estimate based on other similar lake lots still owned by the Developer. The disparity in the AV of similar vacant loft is due to the differences between the AV and the tax rates assigned to the Developer owned parcels vs. the market rates assigned once the lot is sold. VLB lot 95 6521 Lake Crest Circle 025-1010-017713 56900 2245.38 ? VLB lot 96 4805 Starboard Drive 025-1010-017714 5100 201.25 184.98 *5200 ? ? *VLB 151 Re-plat lot 2 Formerly formerl lot 98 4821 Starboard Drive 025-1010-017716 '5200 382.78 172.92 *VLB 15` Re-plat lot 1 Formerly formerl lot 99B 4829 Starboard Drive 025-1010-017717 VLB lot 101 6530 Leewa Drive 025-1010-017719 62800 2478.2 ? VLB lot 106 6634 Leewa Drive 025-1010-017724 55400 2186.18 ? 529400 20843.26 9059.80 •