Establishing Policies- Granting of a Property Tax Exemption IC 6-1.1-10-44 Information Technology Equipment

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RESOLUTION NO. `L��J�I A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, ESTABLISHING POLICIES AND FORMS OF RESOLUTIONS TO BE USED IN CONNECTION WITH THE CONSIDERATION OF THE GRANTING OF A PROPERTY TAX EXEMPTION PURSUANT TO INDIANA CODE 6-1.1-10-44 FOR QUALIFIED ENTERPRISE INFORMATION TECHNOLOGY EQUIPMENT WHEREAS, with the enactment of Indiana Code 6-1.1-10-44 (the "Act"), the General Assembly recognized that the State of Indiana (the "State") and its local governmental units were at a competitive disadvantage with surrounding states in attempting to attract companies that have as their primary business the provision of computing, networking, or data storage services because in surrounding states the enterprise information technology equipment necessary to provide such services are not subject to property taxation unlike in Indiana, where, absent the application of the Act, such enterprise information technology equipment would be subject to property taxation; and WHEREAS, the Act was enacted to law in 2009 for the purpose of permitting companies that would propose to locate facilities dedicated to computing, networking, or data storage activities in Indiana to request and, upon approval of the appropriate legislative body, receive a property tax exemption for the enterprise information technology equipment necessary to provide such services; and WHEREAS, the Common Council ("Common Council") of the City of South Bend, Indiana(the "City"),recognizes the unique location and technological advances available in the City to campanies looking to locate computing, networking, or data storage facilities in the City which meet the statutory thresholds of business investment in the aggregate of at least $10,000,000 ir real and personal property and agree to the average wage of the business of at least 125%of the county average wage for St. Joseph County; and WHEREAS, the Common Council desires to set forth its policy that it seeks to encourage the�levelopment of computing,netwarking and data storage service facilities within the City; and WHEREAS, the Common Council desires to set forth the process the Common Council will t�ndertake when asked by a company for a tax exemption under the Act for its enterprise information technology equipment in order to evidence its intent to attract these types of businesses to the City. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, �ildiana, as follows: 6DD[301 6547b71��'