HomeMy WebLinkAbout~Master - EDSA Contract with Ball Plastics Container Corporation RESOLUTION NO. 02-162
RESOLUTION APPROVING THE ECONOMIC DEVELOPMENT
SET-ASIDE (EDSA) CONTRACT BETWEEN
BALL PLASTIC CONTAINER CORPORATION
AND THE CITY OF AMES, IOWA
WHEREAS, the City of Ames was awarded a $150,000 EDSA Forgivable Loan from the
Iowa Department of Economic Development(IDED)on behalf of Ball Plastic Container Corporation
on January 23, 2002; and,
WHEREAS, it is now necessary to approve the contract between the City and Ball Plastic
Container Corporation for the forgivable loan; and,
WHEREAS,the project is for the creation of 50 jobs,which will be made available to low-
and moderate-income individuals,and the investment of at least$24,525,000 by the company; and,
WHEREAS, security required is a first position on machinery and equipment.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the EDSA contract between Ball Plastic Container Corporation and the City of Ames in the
amount of$150,000 is hereby approved.
ADOPTED THIS 26t''day of March, 2002.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Wirth
Voting aye: Cross, Hoffinan, Quirmbach, Vegge, Wirth
Voting nay: None Absent: Goodhue
Resolution declared adopted and signed by the Mayor this 26t'day of March, 2002.