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South Bend Redevelopment Commission <br />Regular Meeting —July 26, 2011 <br />is something very exciting for Data Realty, <br />beneficial for everyone involved, very <br />functional aesthetically, but more importantly <br />the Park will have some differentiators when <br />it is marketed. He said he'd recently, been <br />to a Data Center conference. There weren't <br />any booths sponsored by states or <br />municipalities. He asked one of the state <br />economic developer officials why they were <br />there. They were there to attract data centers, <br />because data centers are the foundation of <br />technology jobs and if you don't have data <br />centers, you don't have tech jobs. That was <br />what Mr. Carlton wanted to hear. South <br />Bend is starting its technology park with a <br />data center. He said when Data Realty <br />approached South Bend, they asked where <br />they could locate to have the best economic <br />impact. <br />Mr. Carlton said that over the last few <br />months he has had numerous media <br />conversations, not only about what Data <br />Realty is doing, but more importantly the <br />bigger story which is the transformation of <br />the Studebaker corridor into a technology <br />corridor. The story has been picked up in the <br />Chicago Sun Times, Indianapolis Star and he <br />got a call from a real estate person today who <br />said a real estate magazine did a whole <br />feature on the Studebaker corridor and <br />Ignition Park. Last week he was on Fox <br />Business Live for five minutes talking about <br />Ignition Park nationally. Our better days as a <br />town are ahead of us and Data Realty is very <br />excited about being a small part of the <br />opportunity to transform that corridor. <br />Staff recommends approval of this project at <br />a cost to the city of $2,500,000, keeping in <br />mind that the anticipated taxes and rack <br />space value exceed that amount. <br />18 <br />