In accordance with state law, this resolution authorizes reimbursement of no more than Five Hundred Thousand Dollars ($500,000) to the IEC, LLC, (Developer) upon completion of certain approved investments made to their real property located within the Thomson Community Revitalization Enhancement District (“Thomson CRED”). The reimbursement will paid annually out of the Industrial Development Fund (“IDF”), but not exceed more than 75% of the County Option Income Taxes and Indiana retail, use, and income taxes generated by Predictive Physiology & Medicine, Inc., (“PPM”) within the Thomson CRED. The IDF supports industrial development and expansion within the CRED District that serves the City of Bloomington.

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