HomeMy WebLinkAbout~Master - Submission of EDSA Application on Behalf of Exseed Genetics to the Iowa Department of Economic Development RESOLUTION NO. 99-36
RESOLUTION APPROVING SUBMISSION OF
EDSA APPLICATION ON BEHALF OF
EXSEED GENETICS TO THE
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
FOR THE CITY OF AMES,IOWA
WHEREAS, ExSeed Genetics is requesting that the City of Ames submit an Economic
Development Set-Aside(EDSA)application for a forgivable loan of$200,000 on their behalf to the Iowa
Department of Economic Development(IDED); and,
WHEREAS,the City of Ames has been asked to participate in the EDSA application by providing
a $50,000 EDSA Revolving Loan Fund loan and to participate in a $50,000 Forgivable Loan from the
Community Investment Fund with the Ames Seed Capital Fund as the local contribution as required by
the EDSA Program; and,
WHEREAS,the City of Ames RLF Committee has approved the$50,000 RLF loan and approved
a contribution of$25,000 to the Community Investment Fund forgivable loan for ExSeed Genetics; and,
WHEREAS,the Ames Seed Capital Fund is scheduled to meet in the next week to address their
participation of$25,000 in the Community Investment Fund; and,
WHEREAS,the local commitments are contingent upon approval of the EDSA application by the
State; and,
WHEREAS,the proposed project involves the purchase of an 8.35-acre lot at the ISU Research
Park and the construction of research headquarters including lab space, greenhouses, a warehouse, and
office space.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa, that the
submittal of the EDSA application on behalf of ExSeed Genetics LLC is hereby approved.
ADOPTED THIS 26th day of January, 1999.
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Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Hoffinan
Seconded by: Wirth
Voting aye: Campbell, Cross,Hoffinan,Parks, Quirmbach,Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 26th day of January, 1999.