HomeMy WebLinkAbout~Master - Agreement for Bio-Force Nanosciences RESOLUTION NO. 06-075
RESOLUTION APPROVING AGREEMENT AMONG
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT, CITY OF AMES,
AND BIO-FORCE NANOSCIENCES
WHEREAS, Bio-Force Nanosciences is an Ames-based company currently located in the
Aspen Business Park; and,
WHEREAS, Bio-Force has developed and is commercializing products in a market called
bionanotechnology; and,
WHEREAS, the company has applied for financial assistance with the Iowa Department of
Economic Development(IDED)in the form of a Community Economic Betterment Account(CEBA)
$250,000 forgivable loan and a $250,000 loan; and,
WHEREAS, no local match will be required for the IDED funding; and,
WHEREAS,Bio-Force will use the CEBA funding to expand the company's infrastructure and
employee base at the Ames location to continue commercialization of products; and,
WHEREAS, the company expects to create 43 new jobs in Ames; and,
WHEREAS,the City ofAmes will act as sponsoring agency for the CEBA agreement and will
have no financial obligation other than to act as the pass-through organization for IDED funding and
repayments.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that
the CEBA Pass-Through Agreement among the Iowa Department of Economic Development,City of
Ames, and Bio-Force Nanosciences.
ADOPTED THIS 7tn day of March, 2006.
A�v
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Mahayni
Seconded by: Goodhue
Voting aye: Doll, Goodhue, Goodman, Mahayni, Popken, Rice
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 7th day of March, 2006.