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1200 Counn -C7Y BunD1NG <br />227 W. JEFFERSON BOULEVARD <br />SouTx BEND, INDIANA 46601 -1830 <br />I'HorE 574/ 235 -9371 <br />FAx 5741/235 -9021 <br />CITY OF Soum BEND PETE Bb=WEG, 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 />REMECLARATORY 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 ne <br />information. <br />i Filed in �le'� !' <br />Sin erely, <br />t <br />D nald E. nks <br />irector, Economic Development <br />ComwA TY DEVELOPMENT <br />PAN.EL".. C. MEYER <br />5747235 -9660 <br />Fa: 5741235-9469 <br />vUL �J J I? <br />CITY CU _;tom . So)' s; i : "sty <br />EGONoxim DFvE[ OPMENT <br />DONALD r.JNK; <br />5751235 -9371 <br />