Confirming Tax Abatement - University of Notre Dame Du Lac, and Innovation Park at Notre Dame, IN

Home Browse Search

1200 ~.OUN'FY-CITY BUILDING 227 W. JEFFERSON BOULEVARD SOUTH BEND, INDIANA 46601-1830 PxoNE574i235-9371 FAx 574/235-9021 TDD 574/ 235-5567 CITY OF SOUTH BEND STEPHEN J. LUECKE, MAYOR COMMUNITY ~L ECONOMIC DEVELOPMENT JEFFREY V. GIBNEY August 12, 2008 EXECUTIVE DIRECTOR Council Member Derek D. Dieter, Chairperson Community & Economic Development Committee South Bend Common Council 4th Floor, County City Building South Bend, IN 46601 RE: Personal Property Tax Abatement Petition for: University of Notre Dame, Innovation Park at Notre Dame, Inc. Dear Council Member Dieter: Please find attached the Department of Community & Economic Development's report on a personal property tax abatement petition for the above-referenced petitioner, the University of Notre Dame and Innovation Park at Notre Dame, Incorporated. Also attached is a copy of the petition, Statement of Benefits form, and supporting information. The project calls for the acquisition and installation of equipment for the first building (Phase I) of the proposed Certified Technology Park to be located at Edison Road adjoining Twyckenham Drive extension on State Road 23. The total project includes the construction and equipping of an approximate 54,000 square foot building that will be the first of up to three additional buildings intended to become the Certified Technology Park. The mission of the park is to transform research into marketable enterprises. The park will accomplish this by providing convenient access to necessary space, administrative services, and Internet connectivity in combination with the active engagement of expert technical support, professional business advice and introduction to private risk capital. The first building will house the park's common areas as well as provide initial space for client-tenants to begin work on promising projects and processes that can be taken to market. The report contains the Department's findings relative to the above petition. The total cost for the equipment is estimated at no less than $500,000. The project meets the qualifications fora (5) five-year personal property tax abatement and a representative from University of Notre Dame, Innovation Park At Notre Dame, Inc. will be available to meet with the Committee on Monday, August 25, 2008. Should you or any of the other Council members have any questions concerning the report, or need additional information, please feel free to call me at 235-5835. Sincerely, ~1~~`-v~i~~v Bob Mathia Assistant Director, Economic Development COMMUNITY DEVELOPMENT ECONOMIC DEVELOPMENT FINANCIAL RC PROGRAM PAMELA C. MEYER DONALD E. INKS MANAGEMENT 574!235-9660 574/235-9371 EuzneEre LEONARD FAX: 574!235-9697 574/235-9371