09-08-08 Council Meeting Agenda & Packet

Home Browse Search

Voro . SOUTH g d Community & Economic Development, 1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 ♦ Phone 574/235 -9371 ♦ Fax 574/235 -9021 To: South Bend Common Council �� ` u _� 3 From: Bob Mathia �dl,/ Subject: Real Property Tax Abatement Petition for University of Notre Dame, Innovation Park At Notre Dame, Inc. Date: September 4, 2008 After discussions with the Petitioner it was concluded that additional Public Benefit Points should be awarded for the construction of infrastructure that the Petitioner has financed (See Section 6 of the Petitioner's Public Benefits Points Summary). This includes infrastructure work on Edison which the City would have had to make for Innovation Park had the Petitioner not funded it. The Petitioner is also allowing the City to use an area they own for a retention pond for storm water retention. This is saving the City funds which it would have to spend to deal with draining storm water elsewhere, including possibly larger pipes to provide adequate drainage. With the award of these points the Petitioner qualifies for a ten year real property tax abatement. Also, it should be noted that while no Public Benefit Points have been awarded for construction related actions because insufficient information is available at this time (See Section 3 of the Petitioner's Public Benefits Points Summary), the Petitioner has historically limited its construction procurement to union contractors and it intends to do so for this project. Had this information been available, the Petitioner most likely would score additional Public Benefit Points in the construction category. Copies of the Petitioner's completed Public Benefits Points Summary and tax revenue estimate are attached for your information. BPS.FINAL Flied In Cl"'W5 () "Ice SEP 4 2006 JOHN C So BFN AD,IN. CM CLEFi�, What We Do Today Makes A Difference!