08-25-08 Common Council Minutes - Laserfiche WebLink

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REGULAR MEETING AUGUST 25, 2008 WHEREAS, the proposed site, development and use of the Property as a Certified Technology Park is unique and is not specifically contemplated in South Bend Municipal Code sections 2-76 et seq. (the “Municipal Code”) as an area or use which is “pre- designated” for tax abatement consideration using the general standards for tax abatement consideration under the Municipal Code; and WHEREAS, the Common Council has authority under Municipal Code Section 2- 84 et seq., to declare any property within the City as an economic revitalization area, and WHEREAS, Petitioner has requested that the Common Council grant a special exception to consider designating the Property as an Economic Revitalization Area for purposes of real and personal property tax abatement related to the development of the Innovation Park. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Petitioner has presented testimonial and documentary evidence, including without limitation, the Petitions which detail the proposed investment in and development of the Innovation Park, together with estimates of benefits which are reasonably expected to result from the Innovation Park. SECTION II. Based on information presented, the Common Council hereby makes the following findings in support of this resolution: A. The Petitioner and the City of South Bend have cooperated to identify the Innovation Park as the site for a technology park; B. Applications have been filed by the City of South Bend for the Innovation Park, together with the Studebaker Industrial Park, to be designated as sites comprising a Certified Technology Park under Indiana law; C. The Petitioner intends that the Innovation Park will be the site of office and laboratory facilities which will be used to research, develop and commercialize products and solutions based on intellectual property and other research; D. The Studebaker Industrial Park is anticipated to serve as a satellite site for facilities to accommodate business activity emerging from the commercialization of research and innovations from the Innovation Park; E. The Petitioner intends to construct the Innovation Park on approximately 12-acres of vacant property located near the campus of University of Notre Dame at significant cost, and to compete for tenants who seek to locate to technology parks to further research and development activities; F. The construction of the Innovation Park is speculative in that Petitioner must attract tenants with research and development expertise to locate within the Innovation Park as opposed to other competing technology parks affiliated with Universities within and outside of Indiana; G. The Petitioner is committed to operating the Innovation Park in a manner that will benefit the City of South Bend and surrounding areas through the anticipated introduction and transfer of new technologies and systems to the private sector and marketable enterprises; H. The designation of the Innovation Park and Studebaker Industrial Park as complimentary sites for the Certified Technology Park is intended to enable emerging businesses to locate to and remain in the City of South Bend; 21