04-22-2024 AGENDA PACKET - Laserfiche WebLink

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c) Generators and other equipment used to ensure an uninterrupted power supply to the equipment described in subparagraph(a) or(b)above; and WHEREAS, "Eligible Business" as used herein and defined in the Act means an entity that meets each of the following requirements: a) The entity is engaged in a business that operates one or more facilities dedicated to computing, networking or data storage activities; b) The entity is located in a facility or data center in Indiana; c) The entity invests in the aggregate at least$10,000,000 in real and personal property in Indiana after June 30,2009; and d) The average employee wage of the entity is at least 125% of the county average wage for each county in which the entity conducts its business operations; and WHEREAS, the Company has certified in the Agreement that(i) it qualifies as an Eligible Business and (ii) the Computer Equipment constitutes Qualified Property; and WHEREAS, the Project and the real and personal property improvements to be made by the Company at the Site by the Company will benefit the welfare of all citizens and taxpayers of the City; NOW,THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Common Council hereby makes the following findings based upon the information provided by the Company in the Agreement: A. The Company constitutes an Eligible Business; and B. The Computer Equipment constitutes Qualified Property. SECTION II. Subject to the completion of the procedures required by the Act and described below, the Common Council provisionally declares the Computer Equipment to be exempt from property taxation, which exemption will continue for an unlimited period of time, provided that the Company continues to qualify as an Eligible Business and the Computer Equipment continues to qualify as"Qualified Property"under the Act. SECTION III. The Common Council hereby authorizes a notice of the adoption and the substance of this Declaratory Resolution to be published in accordance with Subsection(g) of the Act and the Clerk is hereby authorized to cause to be filed a copy of the notice and this resolution with each taxing unit located in the County. Additionally, a copy of this Declaratory Resolution shall be filed with the St.Joseph County Assessor's office. The notice shall specify a date when the Common Council will receive and hear all remonstrances and objections from interested persons. Following such hearing,the Common Council will consider the adoption of a BDDB01 6546518v3 2-