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South Bend Redevelopment Commission <br />Regular Meeting -August 15, 2008 <br />5. OLD BUSINESS (CONT.) <br />6.C.(3) continued... <br />salaries averaging $50,000 for a total of <br />approximately $6M in salaries. It has a <br />description of the first building, which will <br />be 54,000 sft, costing $13M for the building <br />and $2M for furniture and equipment. <br />Mr. Blake asked about the "one park" and the <br />non-profit company that is being set up. Will <br />there be one owner or two owners? Mr. Inks <br />responded that there will be two owners. The <br />University of Notre Dame will own the land <br />related to the campus site, across from the <br />university. The city currently owns and will <br />continue to own the land in the Sample Street <br />site. <br />Mr. Blake asked what the non-profit <br />company will own. Mr. Inks responded that <br />the non-profit will lease the assets from the <br />university, but not the land at Sample Street <br />site. The non-profit company will provide <br />services to the Sample Street site, however. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Blake and unanimously carried, the <br />Commission approved the Revised Certified <br />Technology Park Application and authorized <br />submission of the Certified Technology Park <br />Technology Development Grant Fund <br />Application. <br />6. NEW BUSINESS <br />A. Tax Abatements <br />(1) Commission approval requested for <br />Resolution No. 2488 approving an <br />application for personal property tax <br />COMMISSION APPROVED THE REVISED <br />CERTIFIED TECHNOLOGY PARK APPLICATION <br />AND AUTHORIZED SUBMISSION OF THE <br />CERTIFIED TECHNOLOGY PARK TECHNOLOGY <br />DEVELOPMENT GRANT FUND APPLICATION <br />6 <br />