12/10/07 Common Council Agenda and Packet

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B 1200 COUNTY -CITY BUILDING 227 W. JEFFERSON BOULLI'ARD SOUTH BEND, INDIANA 46601 -1830 PHONE 574 /235 -9371 FAx 574/235 -9021 TDD 574/ 235 -5567 CITY OF SOUTH BEND STEPHEN J. LUECKF, MAYOR COMMUNITY & ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY EXECUTIVE DIRECTOR TAX ABA TEMENT REPORT TO: SOUTH BEND COMMON COUNCIL FROM: BOB MATHIA SUBJECT: RESIDENTIAL REAL PROPERTY TAX ABATEMENT PETITION FOR: EDWARD A. MYERS DATE: November 26, 2007 On November 14, 2007, a petition for residential tax abatement consideration for real property located at 3927 Riverside Drive was filed with the City Clerk by Michael Urbanski of Garden Homes on behalf of Edward Myers. 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 Edward Myers intends to construct a new 1,768 square foot home with three bedrooms and a total of five rooms. The home will have a full eight foot insulated basement and attached two stall garage. The home will be built on a lot that has been vacant for several years. The size of the lot measures 58 feet x 115 feet. The price of the home is $125,452. Total taxes to be abated during the (5) five -year abatement period are estimated at $9,337. Total taxes to be paid during the (5) five -year abatement period are estimated at $1,365. COMMUNITY DEVELOPMFNT ECONOMIC DEVELOPMENT' FINANCIAL & PROGRAM PANIELA C. MEYER - DONALD E. INKS MANAGEMENT 574/235 -9660 574/235 -9371 ELIZABE11i LEONARD FAX: 574/235,9697 - - 574/235 -9371 .