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South Bend Redevelopment Commission <br />Regular Meeting -August 15, 2008 <br />6. NEW BUSINESS (CONT.) <br />A. Tax Abatements <br />(2) continued... <br />to approve the five-year personal property <br />tax deduction and up to a ten-year real <br />property tax deduction as a special exception, <br />subject to approval by the South Bend <br />Common Council. The Commission has also <br />been asked to approve an extension of the <br />Economic Revitalization Area designation <br />from two years to ten years for both the real <br />and personal property abatements. <br />Mr. Faccenda clarified that this project <br />requested tax abatement for the portion of the <br />Certified Technology Park that is just south <br />of the university. The tax abatement(s) will <br />not be for the Sample-Street portion. Also, <br />this project is not part of the Eddy Street <br />Commons project, nor is it part of the <br />residential TIF area. There are outstanding <br />bonds for that residential TIF area. This <br />project does not affect that. Also, this project <br />is not directly linked to the MIND project <br />that will be located on the campus of Notre <br />Dame, though we hope the technology park <br />will receive benefit from the activities of <br />MIND. <br />Mr. Brenner explained that basic research <br />will continue on the campus of the University <br />of Notre Dame. The Innovation Park south <br />of campus is transformational space where <br />companies arising from Notre Dame <br />research, or from the community, or from <br />around the country can get incubator space <br />for their start-up companies. <br />13 <br />