HomeMy WebLinkAbout~Master - CEBA Venture Application for CombiSep, Inc. RESOLUTION NO. 01-296
RESOLUTION APPROVING SUBMITTAL OF CEBA
VENTURE APPLICATION TO THE
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
ON BEHALF OF COMBISEP,INC.
FOR THE CITY OF AMES, IOWA
WHEREAS,the City of Ames has been asked by CombiSep,Inc.,to submit a$100,000 CEBA Venture
application on their behalf to the Iowa Department of Economic Development(IDED); and,
WHEREAS,the CEBA Venture Project Component is a program designed to assist communities in the
development of entrepreneurial business ventures by making equity-like investments in start-up and early-stage
companies or existing companies developing new products or technologies; and,
WHEREAS, CombiSep, Inc., is a newly-formed manufacturer of state-of-the-art instrumentation for
analytical separations for high throughput screening by implementing a highly multi-plexed, absorbance-based
capillary electrophoresis (CE) system2; and,
WHEREAS,within three years,the company projects it will add/retain approximately 25 employees for
this project; and,
WHEREAS,this product/technology is useful in analyzing and identifying proteins,ions,DNA,and other
substances in the fields of pharmaceutical analysis (including drug discovery), fine chemical synthesis,
combinatorial chemistry, ion analysis, forensic investigations, genetic analysis and mapping, proteomics,
metabolomics, quality control, and genetically-engineered projects; and,
WHEREAS,pharmaceutical companies,medical clinics,universities,forensic scientists,and many more
research and development applications will use these applications; and,
WHEREAS,the City is being asked to provide financial assistance in the form of a$50,000 City of Ames
Revolving Loan Fund loan for this program, and staff are recommending approval of this request.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that the
submittal of a CEBA Venture Project Component application to the Iowa Department of Economic Development
on behalf of CombiSep, Inc., is hereby approved.
ADOPTED THIS 1 Oth day of July, 2001.
Diane R.Voss,City Clerk Ted Tedesco,Mayor
Introduced by: Cross
Seconded by: Hoffman
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 1 Oth day of July, 2001.