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~ ~ C ~~ <br />Staff Report to Redevelopment Commission <br />Certified Technology Park Operating Grant Application <br />Prepared by Don Inks <br />7/6/ 10 <br />In August, 2008 the Redevelopment Connnission applied to the Indiana Economic <br />Development Corp. (IEDC) to establish a Certified Technology Park and requested both <br />capital and operating grants related to the Technology Park. IEDC approved the <br />establishment of the Technology Park and provided a $2.0 million capital grant, but did <br />not approve the requested $1.84 million operating grant. IEDC wanted to see progress <br />made to construct the facility at Innovation Park and progress on leasing that facility. <br />The first building at Innovation Park was completed and opened in the fall of 2009. <br />Since then, three tenants have been announced and others are pending announcement. In <br />addition, several companies are Clients of Innovation Park, receiving services but not <br />occupying space. <br />Given the progress made since IEDC approved the Technology Park in 2008, it is <br />appropriate to again seek the Operating Grant funds. The new Application is attached, <br />and shows a request for $1,744,200 in Operating Grant funds. <br />Staff recommends approval. <br />