10-23-09 Plan will increase Innovation Park, Ignition Park ties

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But the new contract with Hathaway 2 Inc. addresses more specific tactical measures related to the economic development of the Ignition Park site at Sample and Chapin streets, such as: ? Identifying the future management of Ignition Park, including the extent of the City’s ongoing day-to-day role. ? Preparing five-year operating and development budgets. ? Developing a plan for financial self-sustainability, including funding opportunities. ? Managing an advisory group that would identify key research areas and help guide the determination of an appropriate tenant mix for Ignition Park. Hathaway 2 Inc. will be represented by Geri Hathaway, the firm’s president, and James Eifert, former president of Rose-Hulman Ventures, who previously served as a consultant in the application for South Bend’s two-site state-certified technology park. Eifert will be available to Hathaway 2 as a consultant. Located on the grounds of former automaker Studebaker Corp., Ignition Park is being developed on more than 140 acres of land just southwest of downtown. Abandoned buildings on the site have been demolished since 2000 in Indiana’s most aggressive brownfield reclamation effort. That process should be complete in 2011. Site tests already have demonstrated that Ignition Park is ideally suited for nanotechnology development, among other high-tech ventures. But such sensitive work cannot proceed while existing buildings are being demolished. “The steps taken today will help ensure that when Ignition Park is ready for development that development will be ready for Ignition Park,” said Jeff Gibney, executive director of South Bend’s Department of Community and Economic Development. “The City of South Bend is moving forward aggressively to develop this site for high-tech businesses and to marshal the community’s strengths and resources to our fullest potential.” The one-year contract is effective Nov. 1. - 30 -