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Current Status The first Certified Tech Park Funds were received from the State on 12/20/11 in the amount of $812,791. This amount represents income taxes withheld from wages paid to employees located at the "Office Building'.1PND and the ND /lU Medical Campus. Use of Funds • State CTP Funds can be used for a limited number of purposes, all of which must be activities within the CTP boundaries. The list of permitted uses includes: • Acquisition, construction, improvement, planning or equipping of facilities • Repayment of debt incurred for financing associated with the above • Establishment or augmenting a debt service reserve associated with debt • Operation of facilities • Notre Dame has immediate uses for the State CTP Funds, including: • Payment of the operating expenses of the IPND facility • Equipping the IPND facility • Planning. /engineering costs of Phase II of IPND Proposal The City and ND should share equally in the aggregate $5 million amount of State CTP Funds o On an annual basis, if either party does not have needs to consume 50% of the State CTP Funds received that year, the other party may draw unused funds to the extent they can be spent on permitted uses. o Once either party has drawn an aggregate $2.5 million in State CTP Funds, no additional funds may be drawn by that party without approval of the other party Proposed Uses of CTP Funds 3.26.12.doc What We Do Today Makes A Difference!