HomeMy WebLinkAbout5129-25 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 RESOLUTION No . 5129_25
Passed by the Common Council of the City of South Bend, Indiana
April 14, 20 25
Attest: ir----- City Clerk
Bianca L. Tirado
— ?�
Attest:_ President of Common Council
Presented by me to the Mayor of the City of South Bend, Indiana _
April15, 20 25
i(410‘.-d CAP417 City Clerk
Bianca L. Tirado
Approved and signed by me k(.11 / 20 25
/97 1/1/1 - Mayor
Ao vrx l
46
Er -,M:::."" .
r
it)�� 4\17-
` 1,r
BILL NO. 25-23
RESOLUTION NO. 5129-25
A RESOLUTION OF
THE COMMON COUNCIL OF THE CITY OF SOUTH BEND,
INDIANAAUTHORIZING AND APPROVING THE EXECUTION OF A
FIRST AMENDMENT TO THE CERTIFIED TECHNOLOGY PARK
AGREEMENT BETWEEN THE CITY OF SOUTH BEND,INDIANA,
INDIANA ECONOMIC DEVELOPMENT CORPORATION,AND THE
SOUTH BEND REDEVELOPMENT COMMISSION
WHEREAS, the establishment of high technology activities and public facilities related
to such activities serve a public purpose and are of benefit to the general welfare of the residents
of the City of South Bend and the State of Indiana due to their contribution to encouraging
investment, facilitating job creation and retention, and providing for economic growth and
diversification; and
WHEREAS, Indiana Code 36-7-32-1, et seq. ("Act") provides authority for a local
government unit to apply to the Indiana Economic Development Corporation ("IEDC") for
designation or recertification of all or part of the territory within the jurisdiction of governmental
unit's redevelopment commission as a "certified technology park," ("CTP") as defined by the
Act; and
WHEREAS,the City,having previously received a designation as a CTP effective January
1, 2009, has applied for recertification as a CTP; and
WHEREAS, the City of South Bend anticipates being recertified as a Level 2 Certified
Technology Park with an effective date of July 1, 2023 upon execution of this First Amendment
and compliance with all other requirements; and
WHEREAS,Indiana Code 36-1-7,the Interlocal Cooperation Act,authorizes one or more
governmental entities to exercise,jointly or by one entity on behalf of others, powers that may be
exercised by such units severally; and
WHEREASE, the Common Council of the City of South Bend previously authorized and
approved the Certified Technology Park Agreement between the City of South Bend, Indiana;
Indiana Economic Development Corporation, and the South Bend Redevelopment Commission
on December 8, 2008 by Resolution No. 3929-08.
WHEREAS, the First Amendment extends the term of the Agreement to June 30, 2027
and provides that a CTP may be recertified if the Agreement is extended following the lapse of a
CTP designation; and
WHEREAS,the First Amendment further provides that in the event of such recertification,
the CTP designation shall operate as though the designation continuously remained in effect; and
WHEREAS, the First Amendment provides for updated language regarding the
coordination of distributions from the tax increment financing fund in excess of Five Million
Dollars ($5,000,000.00) in light of the City of South Bend's anticipated designation as a Level 2
CTP; and
WHEREAS, the First Amendment provides for updated notice and reporting provisions.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE
CITY OF SOUTH BEND, INDIANA,AS FOLLOWS:
Section I. The Common Council of the City of South Bend, Indiana, has considered and
hereby ratifies, confirms, and approves the First Amendment attached as Exhibit A to this
Resolution, governing the Certified Technology Park.
Section II. The Council President is authorized to execute the First Amendment attached
hereto as Exhibit A.
Section III. This Resolution shall be in full force and effect from and after its adoption
by the Common Council and approval by the Mayor.
Canneth Lee, Co cil President
South Bend Common Council
Attest:
111111-11-11
Bianca L. Tirado, City Clerk
Office of the City Clerk
Presented by me, the undersigned Clerk of the City of South Bend, to the Mayor of the City
of South Bend, Indiana on the 15`h_day of April , 2025, at 12 o'clock p.m.
4Z00-6t—gi
44/----
Bianca L. Tirado, Cit Clerk
Office of the City Clerk
jcib
Approved and signed by me on the 2J day of k t� , 2025, at ' o'clock
.m.
//1/1'\--
James ueller, Mayor
City South Bend, Indiana
FIRST AMENDMENT
This Amendment (the "First Amendment") to the Certified Technology Park ("CTP")
Agreement between the INDIANA ECONOMIC DEVELOPMENT CORPORATION(the
"IEDC") and the CITY OF SOUTH BEND,INDIANA,by and through the SOUTH BEND
COMMON COUNCIL, the legislative body of the City of South Bend, Indiana (the
"Governmental Unit") and the SOUTH BEND REDEVELOPMENT COMMISSION(the
"Commission" and with the Governmental Unit,the"City")(Collectively,the"Parties").
RECITALS
WHEREAS,the Parties previously entered into that certain CTP Agreement, which
commenced on January 1,2009(the"Original Agreement");
WHEREAS,the Parties desire to amend the Original Agreement to bring it into compliance
with current law and policy;
WHEREAS,the Original Agreement and this First Amendment shall hereinafter be referred to
collectively as the "Agreement"; and
NOW, THEREFORE,in consideration of the above recitals and the mutual promises,
obligations, and stipulations contained in this Agreement, the Parties hereby agree as follows:
EFFECTIVE DATE
1. This First Amendment shall take effect on July 1, 2023 (the "Effective Date").
AMENDMENT
2. Paragraph 2 of the Original Agreement is deleted and replaced in its entirety with the
following:
2. TERM OF AGREEMENT
The term of this Agreement and the designation of the CTP shall be from January 1,
2009 and shall continue in effect during the existence of the park's designation as a CTP
under Section 11 of the Act. In accordance with the Act,the CTP designation is subject
to the continued review of the IEDC and will expire on June 30, 2027(the "Expiration
Date'). The CTP is subject to recertified by the IEDC at any time but in no event less
than every four years upon expiration of the Agreement. If the designation of the CTP
lapses or is terminated, for whatever reason, and this Agreement is subsequently
amended to extend the term and the CTP is recertified,this Agreement shall operate as
if the CTP's designation continuously remained in effect unless the Parties agree
otherwise.
3. Paragraph 7 is deleted in its entirety and replaced with the following:
7.CERTIFIED TECHNOLOGY PARK INCREMENTAL TAX FINANCING
FUND:
Page 1 of 5
The tax increment financing fund established under Section 22 of the Act (the "State
CTP Fund")for the CTP shall receive (i) 100% of the aggregate amount of state gross
retail and use taxes that are remitted under Indiana Code § 6-2.5 by businesses which
exceed the gross retail base period amount, in accordance with Indiana Code§ 36-7-32-
22(bX1); and (ii) 100% of the income tax incremental amount provided for in Indiana
Code§36-7-32-22(b)(2)(A)-(D). Notwithstanding the foregoing or anything in the Act
to the contrary, not more than an aggregate total of Five Million and 00/100 Dollars
($5,000,000.00) in CTP Revenues or other funds that may be deposited into the State
CTP Fund over the course of its designation unless designated as a level 2 CTP. If such
distributions in excess of Five Million and 00/100 dollars ($5,000,000.00) are made to
the CTP and deposited in the certified technology park fund established by the
redevelopment commission under Section 23 of the Act(the "Local CTP Fund") in a
state fiscal year, the City agrees to coordinate with the IEDC,subject to Paragraph 6 of
this Amendment, on how distributions will be utilized by the CTP to further high-
technology company growth within the CTP.
4. Paragraph 15 is deleted in its entirety and replaced with the following:
15. NOTICE TO PARTIES:
Whenever any notice,statement or other communications shall be sent to any of the Parties,
it shall be sent to the following addresses, unless otherwise specifically advised in writing.
Notices to the IEDC shall be sent to:
INDIANA ECONOMIC DEVELOPMENT CORPORATION
Attn: General Counsel
1 North Capitol Ave., Suite 700
Indianapolis, IN 46204
With a copy to: CTPna,iedc.in.tov
Notices to the City shall be sent to:
CITY OF SOUTH BEND
ATTN:
ADDRESS
ADDRESS
EMAIL
Notices to the Commission shall be sent to:
SOUTH BEND REDEVELOPMENT COMMISSION
ATTN:
ADDRESS
ADDRESS
EMAIL
Page 2 of 5
5. The Annual Report shall be provided to the IEDC no later than April 15th annually. Failure
to timely submit the annual report may result in the CTP being unable to access funds from
the CTP Fund and/or the CTP being terminated.
6. The use of funds deposited in the CTP Fund in excess of$5,000,000.00, as described in IC
36-7-32-22(e), is subject to review and approval by the IEDC.
7. The City, or its designee, shall engage in a meaningful way with all companies who have a
presence within the CTP in order to learn the nature of their business, obtain key indicators
of success,and other information required by the Act necessary for the IEDC to make a
future determination on a recertification,and a description of such efforts and information
shall be included in the annual report provided to the IEDC. Failure to do so may result in
the non-renewal or termination of the CTP.
8. The Parties hereby agree that all other unamended terms and conditions set forth in the
Agreement shall remain the same and shall remain in full force and effect following the
Effective Date.All benefits,rights, obligations and responsibilities of the Parties under the
Agreement shall transfer and operate under this First Amendment and shall be construed and
shall function as if the Agreement had remained in effect continuously but with the
Amendment of the terms contained in this First Amendment.
Signatures on Following Page—Remainder of Page Intentionally Left Blank
Page 3 of 5
IN WITNESS WHEREOF, the Parties have,through duly authorized representatives, entered
into this First Amendment. The Parties, having read and understand the foregoing terms of this
First Amendment, do by their respective signatures dated below hereby agree to the terms
thereof.
SOUTH BEND REDEVELOPMENT COMMISSION
Signature
Printed Name and Position/Title
Date:
CITY OF SOUTH BEND, LNDIANA
ignature
Cannon Lee, 544k tend CeMMen Cut61 tcs:A 4
Printed Name and Position/Title
Date: W/Z-3 A°2-5
INDIANA ECONOMIC DEVELOPMENT CORPORATION, INC.
Page 4 of 5
Robert Paglia, Chief Operating Officer
(Digital Signature Stamp Below)
STATE BUDGET AGENCY
Joseph Habig, Acting Budget Director
Date:
Page 5 of 5