HomeMy WebLinkAboutagenda item 2015 1015 rdc 05c2227 W. JEFFERSON BLVD. SOUTH BEND, IN 46601 | P: 574-235-9371 | FAX: 574-235-9021 | SOUTHBENDIN.GOV
Department of
Community Investment
Memorandum
Tuesday, October 13, 2015
TO: Redevelopment Commissioners
FROM: Chris Fielding
SUBJECT: Advanced Center for Cancer Care
DCI staff is pleased to present the finalization of a development agreement (included in packet) that will
result in the attraction of a new high tech business to the downtown. Advanced Center for Cancer Care
will provide management and advisory services to other healthcare providers across the United States.
The services offered by AC3 will bolster the private practice and mid-cap section of the healthcare industry
by assisting them in being in compliance with requirements of the Affordable Care Act. These services will
allow many private physicians and small hospitals to remain independent through the streamlining of data
analytics and reporting.
The principals of AC3 have committed to leasing space within the One Michiana Square building in
downtown for a period of no less than 5 years. The OMS building has been on the radar of community
stakeholders for some time due to the declining tenancy and failure to address issues of deferred
maintenance. The attraction of a credit tenant lease will serve as a catalyst for private developers to
address these issues.
AC3 has committed to the relocation of 20 employees to the downtown and will create 110 new jobs with
average wages of $25.00 per hour. AC3 intends to invest approximately $7 million to equip and improve
their space with a request of $900,000 in TIF to assist in the acquisition of technology that will be leased
back to the company to support their growth.
We are pleased to present a finalized and executed Development Agreement in your packet today
outlining the commitment of $900,000 in TIF funding to support the attraction of the new facility. Staff
requests approval of the terms of the Development Agreement.
ITEM: 5.C.(2)