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South Bend Redevelopment Commission <br />Regular Meeting -March 14, 2008 <br />6. NEW BUSINESS (CONT.) <br />H. Other <br />(3) continued... <br />Mr. Peczkowski asked if the revenue the <br />technology park would get from the hotel <br />would take revenue away from the TIF area. <br />Mr. McMahon responded that it would not, <br />since the technology park is not going to <br />receive property taxes. <br />Mr. Peczkowski asked for confirmation of <br />what he understood to be the case: that <br />businesses from the research park would not <br />be compelled to settle in the Studebaker <br />Industrial Park, but that we would hope they <br />would. Mr. McMahon agreed, but said the <br />city and university would encourage <br />outgrowth development in Studebaker. And, <br />timing of the industrial park's completion <br />dovetails nicely with the research park's <br />need. It really should be a great fit. <br />Mr. Peczkowski asked if Studebaker <br />Industrial Park would be reserved only for <br />outgrowth companies from the research park. <br />Mr. McMahon responded that he would like <br />to see the city reserve it. The benefits will be <br />greater if they do. It will open up <br />possibilities for housing and retail downtown <br />from all sorts of support activities in the <br />immediate area. The application does not <br />include any fixed requirement that the city <br />reserve it solely for research outgrowth <br />companies, but he hopes they will. <br />Mayor Luecke also added that if the <br />Studebaker Industrial Park was the city's <br />only industrial park, there might be cause for <br />concern about that. But there is land in both <br />9 <br />