HomeMy WebLinkAbout~Master - RLF and CIF applications for BioForce Nanosciences, Inc. RESOLUTION NO. 03-138
RESOLUTION APPROVING REVOLVING LOAN FUND
AND COMMUNITY INVESTMENT FUND APPLICATIONS FOR
BIOFORCE NANOSCIENCES,INC.,
FOR THE CITY OF AMES
WHEREAS,BioForce Nanosciences,Inc.,has applied for a$50,000 and$25,000 five-year
loan, respectively, with one-year deferred payments from the City of Ames Revolving Loan Fund
(RLF) and the Community Investment Fund(CIF); and,
WHEREAS,the City of Ames is participating in the CIF at the$25,000 level with the Ames
Economic Development Commission(AEDC)providing the matching$25,000; and,
WHEREAS, the RLF and CIF monies will be used as a local match for a $100,000 no
interest loan and a $150,000 forgivable loan for a Physical Infrastructure Assistance Program
application to the State of Iowa; and,
WHEREAS,the monies will be for the purchase of additional equipment and 8,000 square
feet of space at the ISU Research Park; and,
WHEREAS, BioForce Nanosciences, Inc., develops ultra-miniaturized nanoarray
technologies for solid-phase, high-throughput biomolecular analysis; and,
WHEREAS,the company is applying its proprietary nanoarray technologies to the areas of
protein-protein interaction profiling, disease identification, as well as drug and gene therapy
development.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the applications for a Revolving Loan Fund in the amount of$50,000 and for a Community
Investment Fund Loan in the amount of $25,000 for BioForce Nanosciences, Inc., are hereby
approved.
ADOPTED THIS 22°d day of April, 2003.
C�Aff�""R:�_11& �4 _��
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Goodhue
Seconded by: Hoffman
Voting aye: Goodhue, Hoffman, Mahayni, Vegge, Wirth
Voting nay: None Absent: Cross
Resolution declared adopted and signed by the Mayor this 22°d of April, 2003.