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1200 Counn -Ci ry BuMNG <br />227 W.JEFFERSON BOULEVARD <br />SOL"A-1 BEND, INDIANA 46601 -1830 <br />NMI'.. 5741235-9.371 <br />FAA 574/235 -9021 <br />QTY OF SOUTH BEND PETE B=IGIEG, 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 <br />information. �- <br />Filed in Clerk's vIffice ;f <br />U L e; <br />j1 <br />,,....... <br />Sin erely, <br />D nald E. nks <br />irector, Economic Development <br />COMMUNITY DEVELOPMENT ECmOAfiC. D1 VE[OPMENT <br />PAMEU C. ME•tsa <br />ncq AL, E. hx: <br />5 ?4741235 -90 57'1!'1.35 -9371 <br />Fnx: 574143 5 -9469 <br />