HomeMy WebLinkAbout~Master - EDSA application for Ball Plastic Container Corporation RESOLUTION NO. 01-465
RESOLUTION APPROVING SUBMITTAL OF AN
ECONOMIC DEVELOPMENT SET-ASIDE APPLICATION
TO THE IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
ON BEHALF OF BALL PLASTIC CONTAINER CORPORATION
WHEREAS,Ball Plastic Container Corporation is requesting that the City of Ames submit an
Economic Development Set-Aside(EDSA)application for a forgivable loan of$150,000 on their behalf
to the Iowa Department of Economic Development; and,
WHEREAS, the City of Ames has been asked to participate in the EDSA application by
providing a$50,000 EDSA Revolving Loan Fund(RLF) loan as the local contribution as required by
the EDSA Program; and,
WHEREAS, the City of Ames RLF Committee met on October 4, 2001, and approved the
application; and,
WHEREAS, the proposed project is an expansion of the existing facility,which will add two
additional production lines and a 200,000-square-foot warehouse building; and,
WHEREAS, as a result of this expansion, 50 new employees will be added; and,
WHEREAS, the project is anticipated to begin by November 1, 2001, and be completed by
December 31, 2002; and,
WHEREAS, the EDSA forgivable loan will be secured by a corporate guarantee.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa, that
the submittal of an Economic Development Set-Aside application to the Iowa Department of Economic
Development on behalf of the Ball Plastic Container Corporation is hereby approved.
ADOPTED THIS 9th day of October, 2001.
C�A�"'k
Diane R.Voss,City Clerk Ted Tedesco,Mayor
Introduced by: Cross
Seconded by: Hoffinan
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach
Voting nay: None Absent: Wirth
Resolution declared adopted and signed by the Mayor this 9th day of October, 2001.