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25-23 Resolution Authorizing and Approving the Execution of a First Amendment to the Certified Technology Park Agreement Between the City of South Bend, Indiana, and the South Bend Redevelopment Commission
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25-23 Resolution Authorizing and Approving the Execution of a First Amendment to the Certified Technology Park Agreement Between the City of South Bend, Indiana, and the South Bend Redevelopment Commission
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5. The Annual Report shall be provided to the IEDC no later than April 15h annually. Failure <br /> to timely submit the annual report may result in the CTP being unable to access funds from <br /> the CTP Fund and/or the CTP being terminated. <br /> 6. The use of funds deposited in the CTP Fund in excess of$5,000,000.00, as described in IC <br /> 36-7-32-22(e), is subject to review and approval by the IEDC. <br /> 7. The City, or its designee, shall engage in a meaningful way with all companies who have a <br /> presence within the CTP in order to learn the nature of their business, obtain key indicators <br /> of success,and other information required by the Act necessary for the IEDC to make a <br /> future determination on a recertification,and a description of such efforts and information <br /> shall be included in the annual report provided to the IEDC. Failure to do so may result in <br /> the non-renewal or termination of the CTP. <br /> 8. The Parties hereby agree that all other unamended terms and conditions set forth in the <br /> Agreement shall remain the same and shall remain in full force and effect following the <br /> Effective Date. All benefits, rights, obligations and responsibilities of the Parties under the <br /> Agreement shall transfer and operate under this First Amendment and shall be construed and <br /> shall function as if the Agreement had remained in effect continuously but with the <br /> Amendment of the terms contained in this First Amendment. <br /> Signatures on Following Page—Remainder of Page Intentionally Left Blank <br /> Page 3 of 5 <br />
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