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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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120000UNTY-CITYBurIDING e1 \ /0j ' PHONE 574/235-9371 <br />eU \ ,iri ii C227WJEFFERSONBOULEVARDW\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. <br />Filed-in dI?rf-aS OfSifniely, <br />D nald E. nks E.77:3vC'.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,.
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