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

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WHEREAS, the City desires to locate the Park in the areas commonly known as the Campus Site and the Sample Street Site and more particularly described at Exhibit A (collectively, the "Area"), which Exhibit A is attached hereto and incorporated herein by reference; and WHEREAS, the IEDC, after reviewing the Application, has determined that the Application demonstrates (i) a firm commitment from at least one (1) business engaged in a high technology activity creating a significant number of jobs and (ii) significant support from or a significant commitment by, a postsecondary educational institution, as evidenced by the commitment letter dated August 12, 2008 from the University of Notre Dame (the "Sponsor"); and WHEREAS, the IEDC has also determined upon the ,City's satisfaction of its commitment to invest at least an additional six million dollars ($6,000,000) in infrastructure and other construction costs at the Sample Street Site, in addition to its efforts to acquire and remediate the land that comprises or may comprise the Sample Street Site that the entire Park would be ready to be developed to principally contain property that may be primarily used for high technology activity (as defined in Section 7 of the Act) or a business incubator in accordance with Section 11(a)(6) of the Act; and WHEREAS, in light of the characteristics of the Park as identified in the Application, the market conditions near the Park and the unique support provided by the Sponsor, the IEDC has determined that the designation of the Park would not result in a substantial reduction or cessation of operations in another location in Indiana in order to relocate into the Park; and WHEREAS, the City desires to support and to provide for the proper operation and maintenance of the Park consistent with the provisions of the Act and this Agreement; WHEREAS, the establishment of high technology activities and public facilities (as defined in Section 9 of the Act) within the Park, as outlined in the Application and this Agreement, serves a public purpose and is of benefit to the general welfare of the citizens of the City and the State by encouraging investment, job creation and retention, and economic growth and diversification; NOW, THEREFORE, the parties to this Agreement, in consideration of the mutual covenants, obligations, and stipulations set forth herein, witness and agree as follows: 1. PURPOSE OF AGREEMENT: The purpose of this Agreement is to enable the IEDC to designate the Park as a certified technology park under the Act and to establish the terms and conditions governing the Park's designation, in accordance with the Act. The Park is hereby designated as a certified technology park under Section 11 of the Act and such designation shall be governed by the Act and the terms and conditions of this Agreement. The Park shall consist of the Area, as further described in Paragraph 3 of this Agreement, will operate pursuant to the Business Plan attached to the Application as Attachment D, and shall include the public facilities set forth in Exhibit B. -2-