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04-22-2024 AGENDA PACKET
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04-22-2024 Common Council Meeting
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04-22-2024 AGENDA PACKET
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4/18/2024 2:28:02 PM
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4/18/2024 2:26:58 PM
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City Council - City Clerk
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WHEREAS,the Company has included as part of Exhibit A in the Letter Agreement a list <br />of new enterprise information technology equipment (the "Qualified Property") and has certified <br />in the Agreement that the Qualified Property meets the requirements as established by the Act;and <br />WHEREAS, the Project and the additional personal and real property improvements to be <br />made by Company will benefit the welfare of citizens and taxpayers of the City. <br />NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South <br />Bend, Indiana,as follows: <br />SECTION I. The Common Council hereby finds, based up on the information provided by the <br />Company in the Agreement,that the Company is,and its subsidiary Data Realty Northern Indiana <br />has been, an Eligible Business as defined by the Act. <br />SECTION II. The Common Council hereby reconfirms Resolution No. 4174-12 and Resolution <br />No.4278-13 and finds the Qualified Property is and shall be exempt from property taxation for an <br />unlimited term,provided that the Company continues to qualify for the exemption under the Act. <br />SECTION III. The Common Council hereby approves of the form of Letter Agreement attached <br />hereto as Exhibit A and authorizes the Mayor and Clerk to execute and attest, respectively, the <br />form of Letter Agreement attached hereto as Exhibit A. <br />SECTION IV. The Common Council further confirms that the final determination and property <br />tax exemption confirmation for certain enterprise technology equipment is based on the <br />Company's representations that: <br />1) It is engaged in a business in the City of South Bend at 1440 Ignition Drive that <br />operates a facility dedicated to computing, networking, or data storage <br />activities; <br />2) It is and will continue to be located at the Ignition Drive location; <br />3) Upon the completion of the proposed project,the Company will have invested <br />in the aggregate at least twenty-five million dollars ($25,000,000) in real and personal <br />property at the Ignition Drive location; and <br />4) The average wage of employees of the Company's Ignition Drive location is <br />at least one hundred twenty-five percent(125%)of the average wage for St.Joseph County. <br />SECTION V. This Resolution shall be in full force and effect from and after its adoption by the <br />Common Council and approval by the Mayor. <br />Sharon McBride, Council President <br />South Bend Common Council
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