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South Bend Redevelopment Commission <br /> Regular Meeting—November 29, 2012 <br /> Mr. John Heckaman, Curtis Products <br /> Ms. Mo Miller <br /> 2. APPROVAL OF MINUTES <br /> A. Approval of Minutes of the Regular Meeting of Thursday, November 8, 2012 <br /> Upon a motion by Mr. Downes, seconded by Mr. Alford and unanimously carried, the <br /> Commission approved the Minutes of the Regular Meeting of Thursday, November 8, 2012. <br /> 3. APPROVAL OF CLAIMS <br /> Upon a motion by Mr. Downes, seconded by Mr. Varner and unanimously carried, the Commission <br /> approved the Claims submitted November 29, 2012. <br /> 4. COMMUNICATIONS <br /> There were no Communications. <br /> 5. OLD BUSINESS <br /> A. Other <br /> Ms. Jones noted that Item 6. C. (1) is related to Item 5. A. (1). She asked that Item 6. C. (1) be <br /> moved to immediately follow Item 5. A. (1). <br /> Upon a motion by Mr.Downes, seconded by Mr. Varner and unanimously carried, the <br /> Commission moved Item 6. C. (1) to follow Item 5. A. (1). <br /> 1) Memorandum of Understanding with the City of South Bend, Indiana, and the <br /> University of Notre Dame Du Lac related to the use of Certified Tech Park funds. <br /> Mr. Inks noted that in March of this year staff made a report concerning the proposed use of <br /> $812,791 in Certified Tech Park funds. The Memorandum of Understanding is consistent <br /> with the proposed use that was presented at that time. Essentially the funds will be split <br /> equally between Innovation Park and Ignition Park. Both the University of Notre Dame and <br /> the City of South Bend will submit a list of projects each year. To the extent that there are <br /> projects that are eligible for fifty percent of the funding, those projects would be funded. If <br /> one side or the other has less need than the fifty percent, the other side could increase its <br /> share in that year. But, overall, of the $5 million dollars that is anticipated to be collected, <br /> $2.5 million would be for Ignition Park and $2.5 million would be for Innovation Park. <br /> Mr. Varner asked for clarification on the potential for one side or the other getting more than <br /> fifty percent. Mr. Sexton responded that for either side to get more than its fifty percent <br /> share, both sides must agree to spend more than the$2.5 M in one of the parks. It would have <br /> to come back to the Commission for approval. <br /> 2 <br />