2 Minutes 11/29/12 meeting - Laserfiche WebLink

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South Bend Redevelopment Commission Regular Meeting—November 29, 2012 Mr. Davis noted that everybody wants to see the physical development of Ignition Park. There has been conversation about the city constructing its own incubator in Ignition Park. He wondered if there should be an effort to figure out how we can really improve the transition of businesses moving from Innovation Park to Ignition Park, given that we are building a new building. How do we expand this conversation so the residents, the tax payers, and citizens actually feel like it is working for the residents of South Bend? Mr. Sexton responded that the city is interested in building a multi-disciplinary building in Ignition Park. It is intended that that be the next step for companies at Innovation Park that have gotten their research to a point of commercialization, so they would transition to Ignition Park into such a building. Mr. Davis asked Mr. Sexton to define"multi-disciplinary." Mr. Sexton responded that earlier in the week there was a newspaper article referencing F- Cubed, which is a company that has outgrown Innovation Park and is going to be temporarily housed at the old St. Joseph High School site. They have a strong desire to be at Ignition Park. They would have been a perfect tenant for multi-disciplinary building. We are going to have more and more companies like F-Cubed coming forward through Innovation Park and we want to make sure those companies have a landing spot. Upon a motion by Mr. Downes, seconded by Mr. Alford and unanimously carried, the Commission approved the Memorandum of Understanding with the City of South Bend, Indiana and the University of Notre Dame Du Lac related to the use of Certified Tech Park funds. 6. NEW BUSINESS C. Airport Economic Development Area 1) State Certified Tech Park Recertification Application Mr. Inks noted that when the state designated Ignition Park and Innovation Park a Certified Technology Park on January 1, 2009, it was for a period of four years. Our certification will lapse the end of 2012 unless recertified by the state. We want to submit an application for recertification. . Mr. Inks noted that the University of Notre Dame has been instrumental in assisting with the collection of information for this application, primarily because thus far so much of the tech park business activity has occurred at Innovation Park. However, Ignition Park did see the first phase of infrastructure development this year, along with its first business opening, Data Realty. Investment by the University and the city in the two tech park sites has been significant over the last four years. The University of Notre Dame and Indiana University South Bend have invested $33.5 million,while South Bend has invested$22.5 million. Thirty-five small 3