No. 3109 regarding the disposition of certain personal property and matters related thereto

Home Browse Search

RESOLUTION NO. 3109 A RESOLUTION OF THE SOUTH BEND REDEVELOPMENT COMMISSION REGARDING THE DISPOSITION OF CERTAIN PERSONAL PROPERTY AND MATTERS RELATED THERETO WHEREAS,the South Bend Redevelopment Commission(the "Commission"),the governing body of the City of South Bend, Indiana (the "City"), Redevelopment District and the City of South Bend, Indiana, Department of Redevelopment, exists and operates under the provisions of Indiana Code Section 36-7-14, as amended from time to time (the "Act"); and WHEREAS, the Commission did previously declare the Airport Economic Development Area (the "Area") to be an economic development area within the meaning of the Act,approved an economic development plan for the Area(the"Plan")and designated the Area as a tax increment finance ("TIF") allocation area all pursuant to the Act; and WHEREAS, F Cubed, LLC ("F Cubed") is an emerging company engaged in the development of a technology created by the University of Notre Dame (the "University") for the rapid and direct detection of DNA to be utilized for identification of contaminated drinking water, medical diagnostics in retail medical clinics and homeland defense (the "Technology"); and WHEREAS,F Cubed has had operations located at Innovation Park in the City(the "South Bend Operations"); and WHEREAS, in order to more fully develop the Technology and expand its applications, F Cubed requires (i) certain equipment, more particularly described in the MOU (as defined below) (the "Equipment"), to be used in connection with the South Bend Operations and (ii) a new location to accommodate the expanded South Bend Operations; and DMS_US 51065232v2