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�f <br /> 11111.1461miiiir, <br /> • •■■r, November 9,2012 <br /> Urban Enterprise <br /> Association <br /> OF SOUTH BEND INC.. Mr.Derek Dieter <br /> President <br /> South Bend Common Council <br /> 227 W.Jefferson Blvd. <br /> Suite 400 <br /> South Bend, IN 46601 <br /> Dear President Dieter: <br /> The attached resolution is submitted pursuant to Indiana Code 5-28-15-10(b) <br /> which permits the term of an Indiana Enterprise Zone to be renewed and <br /> ▪ extended for an additional five (5)years from the date of its current expiration. <br /> { The South Bend Enterprise Zone is approaching its 10th year with an expiration <br /> date of December 31, 2013.This resolution would renew and extend the Zone <br /> to a new expiration date of December 31,2018. <br /> r �v <br /> The Urban Enterprise Association of South Bend, Inc. (SBUEA) recommends this <br /> ▪ renewal and extension and asks for Council's approval. This recommendation is <br /> „ <br /> based on the SBUEA's consideration of long term planning and strategy related <br /> ak � 4 to three issues: (1)the opportunity for Zone businesses to take advantage of <br /> Zone benefits, (2)the ability of the SBUEA to responsibly address the future of <br /> fi� k <br /> x'$ its facility-the Sample Street Business Complex(SSBC,) and (3)the ability of the <br /> SBUEA to attempt to address in some way,opportunities for Zone residents. <br /> - % F <br /> While tax benefits under a Zone program have changed over time,there <br /> remains a group of businesses in the South Bend Zone that continue to take <br /> 3 r 4 advantage of benefits,and pay the required fee to the SBUEA. Having said that, <br /> the change in benefits and the subsequent decrease in fee revenue for Zones is <br /> a significant issue. For South Bend,this revenue is the only source that the <br /> SBUEA has to continue the operations and maintenance of the Sample Street <br /> Business Complex(SSBC), a multi-tenant facility developed to promote, house, <br /> and incubate Zone businesses. The SBUEA knows it cannot depend long term <br /> on Zone fees to address any deficit in the operations and maintenance of this <br /> facility. To that end the SBUEA has,and will continue to, pursue new ownership <br /> for the Complex. <br /> The SSBC,originally developed in the late 1980s, has experienced cash flow <br /> challenges,still requires SBUEA subsidy to operate and support building <br /> repairs/improvements, but continues to be an option for small and start-up <br />