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South Bend Redevelopment Commission Regular Meeting —July 26, 2011 Commission approved Funding for Ignition Park Infrastructure — Phase I and the BSA LifeStructures —Phase 1 A Design Proposal for a total amount not to exceed $3,000,000. (2) Proposal from BSA LifeStructures for Ignition Park Infrastructure — Phase 1A Design. As stated above, the BSA LifeStructures proposal for design of the Site Documents for the infrastructure improvements totaled $128,000, but was wrapped into the not -to- exceed fee approved above at $3,000,000. (3) Funding for provisions contained in the Contract for Purchase and Sale of Ignition Park 2 °d Minor Subdivision Lot #4. Ms. Hathaway noted that Data Realty, a startup company based at Innovation Park at Notre Dame, announced in February that it will break ground this year for a Tier III data center serving small to mid -sized businesses in South Bend and throughout the Midwest. Construction may take about nine to 12 months. Ms. Hathaway noted the contract for purchase and sale of the five acre Lot #4 to Data Realty Northern Indiana, LLC is in the amount of $26,250 per acre for a total of $131,250. Data Realty will immediately construct a building of approximately 54,000 sq. ft., costing in excess of $10,000,000. The fifteen employee company, of above average salaries, is expected to grow to 30 employees when the building is expanded to 100,000 sq. ft. Data Realty has agreed to not seek property tax abatement. It is anticipated their tax obligation will equal approximately $273,000 per year on the initial building. 16 PROPOSAL FOR A TOTAL AMOUNT NOT TO EXCEED $3,000,000 BSA LIFESTRUCTURES PROPOSAL FOR DESIGN OF THE SITE DOCUMENTS FOR THE INFRASTRUCTURE IMPROVEMENTS WAS WRAPPED INTO THE NOT TO EXCEED FEE APPROVED ABOVE