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1200 CouN n' -C17Y BURD1NG <br />227 W.JEFI•F.RSON BOULEVARD <br />SOUTH BEND, INDIANA 416601-1830 <br />PHONE' 574 /235 -9371 <br />FAX 574/'235 -9021 <br />CITY OF SOUTH BEND P1;TE BurDWEG, 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 <br />information. <br />Filed In Clerk's MCC: <br />Sin erely, <br />D nald E. nks <br />irector, Economic Development <br />CoatMl, -smy DwaoPMENT <br />PAMELA C. ME'fE'n <br />5 ?9/735.9664 <br />Fex: 5741235 -9469 <br />P �33 <br />CITY CLLR K Sol.-- - <br />EC,ONOmic DI.vE[ oPMENT <br />DONALD r:. rrx: <br />5741235 -9371 <br />