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120000UNTY-CITYBurIDING .e1 �\ /0j ' PHONE 574/235-9371 <br /> eU � \ ,iri ii C <br /> 227 W JEFFERSON BOULEVARD : W��\IILWE�� r FAX 574/235-9021 <br /> SOUTH BEND,INDIANA 46601-1830 1. `',.t'S <br /> R R ,, <br /> '- , 1865 <br /> CITY OF SOUTH BEND PETE BU IMGIEG,MAYOR <br /> COMMUNITY & ECONOMIC DEVELOPMENT <br /> April 16,2012 <br /> Derek Dieter,President <br /> South Bend Common Council <br /> 435 County-City Building <br /> South Bend, Indiana 46601 <br /> RE:DECLARATORY RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH <br /> BEND,INDIANA,AUTHORIZING A PROPERTY TAX EXEMPTION FOR QUALIFIED <br /> ENTERPRISE INFORMATION TECHNOLOGY EQUIPMENT PURSUANT TO INDIANA CODE <br /> 6-1.1-10-44(DATA REALTY NORTHERN INDIANA,LLC PROJECT LOCATED AT 1440 <br /> IGNITION DRIVE SOUTH IN THE SIXTH COUNCIL DISTRICT) <br /> Dear President Dieter: <br /> Attached for filing please find the above-referenced Declaratory Resolution to be considered by the <br /> Common Council at its April 23, 2012 meeting. Approval of this Resolution would be the first step in <br /> providing property tax exemption for qualifying enterprise information technology equipment to Data <br /> Realty Northern Indiana, LLC. Attached as an Exhibit to the Resolution is a Letter Agreement wherein <br /> Data Realty states their project meets the requirements of State law in order to receive this exemption. <br /> Specifically, the project investment will be about $14.2 million,exceeding the required $10.0 million. $6.0 <br /> million of the investment is expected to be in equipment qualifying for the exemption. Additionally, the <br /> jobs to be created will have an average wage of$28.36/hour, exceeding the requirement that they be greater <br /> than 125% of the county average. The county average is about $18.50 /hour and 125% would be <br /> $23.13/hour. The Resolution and Letter Agreement are both in the form prescribed by Resolution 4089-11 <br /> approved by the South Bend Common Council March 14, 2011. Don Inks will be presenting the <br /> Resolution. <br /> Your favorable consideration is requested. Please do not hesitate to contact me if you need additional <br /> information. Filed-in dI?rf-aS Of <br /> Sifn iely, <br /> D nald E. nks ��,���E.77:3 <br /> vC'.2 <br /> irector,Economic Development CI'P'1'gt,,t ri RDE <br /> COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT <br /> PAMELA C.MEYER DONALD E.INKS <br /> 574/235-9660 574/235-9371 <br /> Fix:574/235-9469 0 i�,. <br />