Laserfiche WebLink
South Bend Redevelopment Commission <br /> Regular Meeting—November 29, 2012 <br /> 5. OLD BUSINESS <br /> A. Other <br /> 1) continued... <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 /> Mr. Davis noted that everybody wants to see the physical development of Ignition Park. <br /> There has been conversation about the city constructing its own incubator in Ignition Park. <br /> He wondered if there should be an effort to figure out how we can really improve the <br /> transition of businesses moving from Innovation Park to Ignition Park, given that we are <br /> building a new building. How do we expand this conversation so the residents, the tax <br /> payers, and citizens actually feel like it is working for the residents of South Bend? <br /> Mr. Sexton responded that the city is interested in building a multi-disciplinary building in <br /> Ignition Park. It is intended that that be the next step for companies at Innovation Park that <br /> have gotten their research to a point of commercialization, so they would transition to <br /> Ignition Park into such a building. <br /> Mr. Davis asked Mr. Sexton to define "multi-disciplinary." <br /> Mr. Sexton responded that earlier in the week there was a newspaper article referencing F- <br /> Cubed, which is a company that has outgrown Innovation Park and is going to be temporarily <br /> housed at the old St. Joseph High School site. They have a strong desire to be at Ignition <br /> Park. They would have been a perfect tenant for multi-disciplinary building. We are going to <br /> have more and more companies like F-Cubed coming forward through Innovation Park and <br /> we want to make sure those companies have a landing spot. <br /> Upon a motion by Mr. Downes, seconded by Mr. Alford and unanimously carried, the <br /> Commission approved the Memorandum of Understanding with the City of South Bend, <br /> Indiana and the University of Notre Dame Du Lac related to the use of Certified Tech Park <br /> funds. <br /> 4 <br />