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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Office of the Mayor <br /> <br />NEWS RELEASE <br />August 15, 2008 <br />4 p.m. <br /> <br />New support sought for Innovation Park construction <br /> <br />Contact: <br />Mikki Dobski, Director of Communications & Special Projects, 235-5855 or 876-1564 <br /> <br />or Don Inks, Director of Economic Development, 235-9371 <br /> <br /> <br />South Bend’s Redevelopment Commission today authorized seeking up to $4 million in <br />state grants for Innovation Park, and approved requests from the University of Notre <br />Dame for tax abatements on the project’s buildings and equipment. <br /> <br />Both steps represent procedures that immediately precede the start of construction of a <br />first three-story, 54,000-square-foot building on the site, anticipated to begin this fall. The <br />first building, estimated at $10 million to $15 million, would be completed in one to two <br />years. Three additional buildings, with another 146,000 square feet of space, would be <br />built in phases between 2010 and 2018. Total cost of the construction is estimated at $10 <br />million to $60 million, with a minimum of $500,000 in new equipment. <br /> <br />On 12 acres along Edison Road west of the proposed Twyckenham Drive extension, <br />Innovation Park @ Notre Dame Inc. represents the campus site of the city’s two-site <br />technology park. The tech-park certification also includes 83 acres in the former <br />Studebaker corridor. While both sites are anticipated to house start-up companies seeking <br />to commercialize research at Notre Dame, the city property southeast of Sample and <br />Chapin streets is expected to serve as the primary location for firms that outgrow or <br />relocate from Innovation Park. This includes enterprises related to MIND, the Midwest <br />Institute for Nanoelectronics Discovery, one of four national research centers funded by <br />the world’s leading computer chip makers. <br /> <br />The City of South Bend filed a formal application in March for designation of the two <br />sites by the state as a certified technology park. The Commission approved submitting a <br />revised application Friday, based on technical changes growing out of continuing <br />dialogue with the Indiana Economic Development Corp., which sets requirements for <br />tech park designation. Also, the Commission approved an application for state grants of <br /> <br />