Confirming Tax Abatement - Various Stewart Dr., Vawter Circle, Lutz Drive , Lafayetter Falls - Kendall-Weiss, LLP

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South Bend Common Council RE: Kendall-Weiss, LLP October 9, 2007 Page 2 Please note that one building permit (No.109523) valued at $148,000 has been issued for lot number 409 (tax key number 23-1002- 0023.71). The work authorized under that building permit has begun. The work under the permit is ineligible for a tax abatement, however, the petitioner is requesting the Common Council to waive the Condition Precedent requiring approval of the abatement petition prior to obtaining a building permit and approve the abatement petition with lot number 409 included. If the waiver request cannot be approved the applicant is requesting the Common Council to approve a tax abatement for all lots EXCLUDING lot number 409. Taxes to be abated during the five-year (5) abatement period are estimated at $10,217 per home. The taxes to be ~ during the five-year (5) abatement period for each home are estimated at $6,838. Ifthe waiver is approved total taxes to be abated during the five (5) year abatement period are estimated at $408,680. Total taxes to be paid during the five (5) year abatement period are estimated at $273,520. If the waiver is not approved total taxes to be abated during the five (5) year abatement period are estimated at $398,463. Total taxes to be paid during the five (5) year abatement period are estimated at $266,682. ABATEMENT QUALIFICATION A review of the tax abatements previously granted finds that the petitioner has been associated with or been granted the following previous tax abatements. Term/Type Resolution No. Date 5-year real property 3788-07 September 24, 2007 5-year real property 3697-07 February 12, 2007 5-year real property 3551-06 January 9, 2006 5-year real property 3494-OS July 25, 2005 5-year real property 3481-OS June 27, 2005 5-year real property 3398-04 October 25, 2004 5-year real property 3352-04 July 12, 2004 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. As noted the Commissioner has found that one (1) building permit has been issued for lot number 409. 3. A review of the South Bend Redevelopment designation areas finds that the property is not located in any Tax Incremental Allocation Areas; therefore, no action is required by the South Bend Redevelopment Commission. 4. A review of the Tax Abatement Ordinance No. 9394-03 finds that, except for lot number 409, the petition meets the qualifications fora (5) five-year residential tax abatement under Section 2-77.1, Single Family Residential Construction.