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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 /> ' ''/k/ Otiti.C\'1 1(\A ')AdA- <br /> Sha McBride, Council P esident <br /> South Bend Common Council <br />