Commendation Leroy Dixon for participating in the 2008 Summer Olympics held in Beijing, China (2)

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South Bend Common Council RE: University Of Notre Dame, Innovation Park At Notre Dame, Inc. August 12, 2008 Page 3 77) new, permanent, full -time jobs and one (1) part-time permanent job over the project's ten year development period representing a new annual payroll of approximately $1,150,000 to $4,150,000. The total possible gains in employment resulting from firms created at the park cannot be estimated at this time. Because this is a new project no existing jobs will be maintained. ABATEMENT QUALIFICATION 1. A review of the tax abatements previously granted finds that finds that the petitioner has not been granted or associated with any previous tax abatements. 2. The Building Commissioner has reviewed the petition and finds the property to be properly zoned for the proposed project. 3. A review of the South Bend Redevelopment designation areas finds that the property is located in the Northeast Neighborhood Development Area, which is a Tax Incremental Allocation Area; therefore, the petition for real property tax abatement must first be approved by the South Bend Redevelopment Commission. 4. A review of the Tax Abatement Ordinance No. 9394 -03 finds that the petitioner does not meet the qualifications for a real property tax abatement under the general standards for tax abatement in the City of South Bend. However, the Ordinance does provide for an exception to the general standards, at the South Bend Common Council's discretion. Up to a (9) nine -year real property tax abatement is being sought as a Special Exception subject to further review by the Common Council of the City of South Bend prior to approval of the Confirming Resolution. The Petitioner is also requesting approval an extension of the Economic Revitalization Area designation from two (2) years to ten (10) years to allow construction to take place in orderly fashion according to market forces.