HomeMy WebLinkAbout~Master - Rail Economic Development Grant application for Ball Plastic Container Corp. RESOLUTION NO. 01-466
RESOLUTION APPROVING SUBMITTAL OF A
RAIL ECONOMIC DEVELOPMENT GRANT APPLICATION
TO THE IOWA DEPARTMENT OF TRANSPORTATION
AND DESIGNATING$12,500 AS THE CITY OF AMES'
CONTRIBUTION TO THE COMMUNITY INVESTMENT FUND
AS THE LOCAL MATCH
ON BEHALF OF BALL PLASTIC CONTAINER CORPORATION
WHEREAS,Ball Plastic Container Corporation is requesting that the City of Ames approve the submittal of
a RAIL application for the expansion of their facilities in Ames; and,
WHEREAS,the expansion is a 200,000-square-foot warehouse,which will enable the company to create two
additional production lines employing 30 or more additional employees in the existing plant; and,
WHEREAS,two additional production lines create an increase in the need for raw materials,which in turn
drives the need for an additional rail spur to bring in the materials; and,
WHEREAS, Ball Plastic Container Corporation is proposing to build 800 feet of additional track as a spur
line,which will also include the construction of a switch; and,
WHEREAS,the RAIL Economic Development Forgivable Loan Program requires matching funds of at least
20%from the community with a maximum per grant of$100,000; and,
WHEREAS,the funds will be forgivable if the jobs and investment by Ball Plastic Container Corporation are
completed in two years; and,
WHEREAS, the cost of this project is estimated to be $125,000, so the local match required would be
$25,000; and,
WHEREAS,the local match is proposed to be funded from the Community Investment Fund; and,
WHEREAS,the$25,000 local match is split between the City ofAmes and the Ames Economic Development
Commission,which will be a$12,500 contribution into the Community Investment Fund by both entities.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa, that the submittal
of a RAIL application to the Iowa Department of Transportation on behalf of the Ball Plastic Container Corporation
is hereby approved and$12,500 hereby designated as the City of Ames' contribution to the Community Investment
Fund as the local match.
ADOPTED THIS 9th day of October,2001.
C�A�?- ux-d& V;24111' O-z�
Diane R.Voss,City Clerk Ted Tedesco,Mayor
Introduced by: Cross
Seconded by: Hoffinan
Voting aye: Campbell, Cross, Goodhue,Hoffinan, Quirmbach
Voting nay: None Absent: Wirth
Resolution declared adopted and signed by the Mayor this 9th day of October, 2001.