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• 1A M <br />ti <br />Community 8 Economic Development <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiono 46601 -1830 Phone 5741235 -9371 Fox 574/235 -9021 <br />To: South Bend Redevelopment Commission <br />From: Don Inks <br />Subject: Proposed Use of Certified Tech Park Funds <br />Date: March 27. 2012 <br />Background <br />• The Certified Technology Park ( "CTP ") is established in December 2008 through an Agreement <br />between the Indiana Economic Development Commission ( "IEDC ") and the City of South Bend <br />Redevelopment Commission ( "RDC "). <br />a The area of the CTP is defined to include both Innovation Park at Notre Dame ( "IPND ") and <br />Ignition Park ( "IP "). <br />• IPND boundaries include the site of the current and future IPND park buildings, as well as the <br />retail /office building on the southwest corner of Angela and Eddy Streets ( "Office Building") and <br />Raclin- Carmichael and Harper Halls ( "ND /IU Medical Campus "). <br />a Section 7 of the CTP Agreement defines the CTP Incremental Tax Financing Fund ( "State CTP <br />Funds "), which can be funded with the incremental personal income and sales taxes generated <br />by employment and sales within the CTP. <br />• The base fiscal year used in order to calculate the increment is June 30, 2008. <br />• The first fiscal year for the increment calculation was June 30, 2011 <br />• The maximum aggregate amount of State CTP Funds that can be recaptured is limited to <br />$5 million. <br />Proposed Uses of CTP Funds 3.26.12.doc What We Do Today Makaa A Difference i <br />