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

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RESOLUTION NO. ~ ~ 2'~ -~~ A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA AUTHORIZING AND APPROVING THE EXECUTION OF A CERTIFIED TECHNOLOGY PARK AGREEMENT WITH THE SOUTH BEND REDEVELOPMENT COMMISSION, AND THE INDIANA ECONOMIC DEVELOPMENT CORPORATION WHEREAS, the establishment of high technology activities and public facilities related to such activities serve a public purpose and are of benefit to the general welfare of the citizens of the City of South Bend and the State of Indiana for the reasons that such activities and facilities encourage investment, facilitate job creation and retention, and provide for economic growth and diversification; and WHEREAS, Indiana Code § 36-7-32-1, et seq. ("Act") provides authority for a local governmental unit to apply to the Indiana Economic Development Corporation ("IEDC") for designation of all or part of the territory within the jurisdiction of the governmental unit's redevelopment commission as a "certified technology park", as defined by the Act; and WHEREAS, in accordance with the Act, the City of South Bend ("City") has filed an application with IEDC dated August 12, 2008 ("Application") for the designation of an area as a certified technology park ("Certified Technology Park"), such area being more particularly described in Exhibit "A"attached hereto and incorporated herein ;and WHEREAS, the IEDC has reviewed the City's Application, and has determined that the Application meets the requirements and objectives of the Act; and WHEREAS, the Act further provides that, upon IEDC's designation of a certified technology park, the IEDC, the South Bend Redevelopment Commission ("Commission") and the City of South Bend acting by and through .its legislative body, the South Bend Common Council ("Council") may enter into an agreement establishing the terms and conditions governing the certified technology park; and WHEREAS, the Council desires to support and provide for the proper operation and maintenance of the Certified Technology Park described at Exhibit "A" by entering into a Certified Technology Park Agreement with IEDC and the Commission, the form of such Agreement is attached hereto and incorporated herein as Exhibit "B ". NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: