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1200 CouNTY CrrY BUILDING ,� i <br /> v 1 i� PrIONE574/235-9371 <br /> 227WJFMF,R50N BOULEVARD <br /> w FAx 574/235-9021 <br /> SOUTH BEND,INDIANA 46601-1830 <br /> 1865 <br /> CITY OF SOUTH BEND PETE BUTTIGJEG,MAYOR <br /> COMMUNITY & EcONOMIC DEVELOPMENT <br /> April 16, 2012 <br /> Derek Dieter, President <br /> South Bend Common Council <br /> 435 County-City Building <br /> South Bend, Indiana 46601 <br /> RE:DECLARATORY RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH <br /> BEND, INDIANA,AUTHORIZING A PROPERTY TAX EXEMPTION FOR QUALIFIED <br /> ENTERPRISE INFORMATION TECHNOLOGY EQUIPMENT PURSUANT TO INDIANA CODE <br /> 6-I.I.-10-44 (DATA REALTY NORTHERN INDIANA, LLC PROJECT LOCATED AT 1440 <br /> IGNITION DRIVE SOUTH IN THE SIXTH COUNCIL DISTRICT) <br /> Dear President Dieter; <br /> Attached for filing please find the above-referenced Declaratory Resolution to be considered by the <br /> Common Council at its April 23, 2012 meeting, Approval of this Resolution would be the first step in <br /> providing property tax exemption for qualifying enterprise information technology equipment to Data <br /> Realty Northern Indiana, LLC. Attached as an Exhibit to the Resolution is a Letter Agreement wherein <br /> Data Realty states their project meets the requirements of State law in order to receive this exemption. <br /> Specifically, the project investment will be about $14.2 million, exceeding the required $10.0 million. $6.0 <br /> million of the investment is expected to be in equipment qualifying for the exemption. Additionally, the <br /> jobs to be created will have an average wage of$28.36/hour, exceeding the requirement that they be greater <br /> than 125% of the county average. The county average is about $18.50 /hour and 125% would be <br /> $23.13/hour. The Resolution and Letter Agreement are both in the form prescribed by Resolution 4089-11 <br /> approved by the South Bend Common Council March 14, 2011. Don Inks will be presenting the <br /> Resolution. <br /> Your favorable consideration is requested. Please do not hesitate to contact me if you need additional <br /> information. <br /> FileCt rO C <br /> Office <br /> Sin erely, <br /> 6 APP i . <br /> nald E. nkst <br /> irector, Economic Development C17Y LEPK��01q, C <br /> U7W dow.1 <br /> Commu VITY DF,vELoPMPNT EcoNowc DF.vPL+DPIv nn <br /> PA&MLn C. M)MR <br /> Dwnf.n H.Jxx., <br /> 574/235-9664 5741235-9371 <br /> Fax: 5741235-9469 <br /> OV_ <br />