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South Bend Redevelopment Commission <br /> Regular Meeting—July 26, 2011 <br /> 6. NEW BUSINESS (CONT.) <br /> D. Airport Economic Development Area <br /> (2) continued... <br /> As stated above, the BSA LifeStructures BSA LIFESTRUCTURES PROPOSAL FOR DESIGN <br /> proposal for design of the Site Documents for OF THE SITE DOCUMENTS FOR THE <br /> the infrastructure improvements totaled INFRASTRUCTURE IMPROVEMENTS WAS <br /> WRAPPED INTO THE NOT TO EXCEED FEE <br /> $128,000, but was wrapped into the not-to- APPROVED ABOVE <br /> exceed fee approved above at $3,000,000. <br /> (3) Funding for provisions contained in the <br /> Contract for Purchase and Sale of Ignition <br /> Park 2nd Minor Subdivision Lot#4. <br /> Ms. Hathaway noted that Data Realty, a <br /> startup company based at Innovation Park at <br /> Notre Dame, announced in February that it <br /> will break ground this year for a Tier III data <br /> center serving small to mid-sized businesses <br /> in South Bend and throughout the Midwest. <br /> Construction may take about nine to 12 <br /> months. <br /> Ms. Hathaway noted the contract for <br /> purchase and sale of the five acre Lot#4 to <br /> Data Realty Northern Indiana, LLC is in the <br /> amount of$26,250 per acre for a total of <br /> $131,250. Data Realty will immediately <br /> construct a building of approximately 54,000 <br /> sq. ft., costing in excess of$10,000,000. The <br /> fifteen employee company, of above average <br /> salaries, is expected to grow to 30 employees <br /> when the building is expanded to 100,000 sq. <br /> ft. Data Realty has agreed to not seek <br /> property tax abatement. It is anticipated their <br /> tax obligation will equal approximately <br /> $273,000 per year on the initial building. <br /> As part of the sales contract, the <br /> Redevelopment Commission will: <br /> 18 <br />