Authorizing & Approving the execution of a certified Technology Park Agreement with the Redevelopment Commission, and the Indiana Economic Development Corporation

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CTP Application Innovation park @ Notre Dame ATTACHMENT B Page 1 Project Information A brief narrative that specifically describes specific requirements for approval of current and future applications for Certified Tech Park (CTP) status and grants from the Technology Development Grant Fund: 1. Submission of a viable business plan that establishes a clear strategy for long-term growth. The complete Business Plan for the Innovation Park (a7 Notre Dame is included. See Attachment D. 2. Demonstration that designation of the CTP creates an opportunity to attract a specific high-tech business. It is critical that the City of South Bend, St. Joseph County, and the State of capture the economic impacts of the commercialization of the research product of both Notre Dame and the adjacent Indiana University School of Medicine-South Bend. The location of a Certified Technology Park on the common doorstep of these two research and educational entities enables the State of Indiana to capture the economic impacts of the largest untapped source of commercializable research capacity in the State. The location of the Innovation Park at Notre Dame is ideal to provide a base for the initiation of the companies commercializing these research findings and as a location for the supporting activities needed to sustain the research agendas and the growth of the resulting commercial entities emerging from Notre Dame, IUSM-SB and the other universities of the South Bend area. 3. Agreement on behalf of the applicant that funds from the CTP's tax increment account and grants awarded from the Technology Development Grant Fund will be expended according to CTP guidelines. All parties agree to expend funds received from the CTP's tax increment account and grants awarded from the Technology Development Grant Fund in accordance with CTP guidelines. (It is noted that the CTP's tax increment account will not include real and personal property taxes collections within the Campus or Studebaker sites, as these sites are already included in pre-existing TIF districts.) 4. Agreement on behalf of the applicant that IEDC may revoke the tax increment and recapture rights of the technology park in the event of noncompliance with any part of the agreements of the community, redevelopment commission, or any tenant of the park. All parties are prepared to agree to these provisions, provided that acceptable notice and cure provisions are included.