HomeMy WebLinkAbout~Master - EDSA Contract with IDED for Ball Plastics Container Corporation RESOLUTION NO. 02-163
RESOLUTION APPROVING THE ECONOMIC DEVELOPMENT
SET-ASIDE (EDSA) CONTRACT ON BEHALF OF
BALL PLASTIC CONTAINER CORPORATION
BETWEEN THE CITY OF AMES AND THE IOWA
DEPARTMENT OF ECONOMIC DEVELOPMENT (IDED)
WHEREAS,the City of Ames was awarded a$150,000 EDSA Forgivable Loan from 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 IDED 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 general position on machinery and equipment.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the EDSA Contract on behalf of Ball Plastic Container Corporation between the City of Ames
and the Iowa Department of Economic Development 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.