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South Bend Redevelopment Commission <br />Regular Meeting -December 5, 2008 <br />6. NEW BUSINESS (CONT.) <br />F. Northeast Neighborhood Development Area <br />(1) continued... <br />and Ann Kolata has said this is more than <br />sufficient time to complete. <br />7. City to invest its additional $6 million by <br />12/31/12 to achieve shovel ready condition. <br />However, the city will not put in roads until <br />it has developers who are ready to build <br />there. <br />8. City required to make an Annual Report <br />beginning 3/15/10 (for calendar 2009), <br />including total employment and payroll for <br />all businesses in the Park and number of jobs <br />created during the year, nature and extent of <br />any technology transfer, nature and extent of <br />any non-technology businesses in the Park, <br />use and outcome of any State monies used, <br />an analysis of Park's overall contribution to <br />the technology based economy in Indiana <br />(i.e. capital investment and product <br />development or commercialization). <br />Technology Development Grant Fund Grant <br />Agreement <br />1. $2 million for the purpose of constructing <br />a business incubator on the IP @ ND site. <br />2. City to submit Quarterly Progress Reports <br />(to be supplied by ND). <br />3. City can Sub-Grant to ND, but City will <br />remain responsible to State (our Sub-Grant <br />Agreement with ND will pass on all State <br />requirements to ND, so ND will be <br />responsible to City). <br />