HomeMy WebLinkAbout~Master - Agreements for Sauer Danfoss RESOLUTION NO. 06-482
RESOLUTION APPROVING ECONOMIC DEVELOPMENT ASSISTANCE
AGREEMENTS WITH SAUER-DANFOSS, INC.,
FOR THE CITY OF AMES
WHEREAS,Sauer-Danfoss,Inc.,is a designer,manufacturer,and service provider in the fluid
power and mobile hydraulic business; and,
WHEREAS,the company is expanding operations and employment at their Ames site through
consolidation from other locations and business growth, and total investment for this planned
expansion is $6,750,000, with 208 new jobs created in Ames; and,
WHEREAS, the company received final approval from the Iowa Department of Economic
Development (IDED) for direct assistance in the amount of $750,000 Community Economic
Betterment Account (CEBA) award and income tax credits under the High Quality Job Creation
Program (HQJCP) totaling $227,500; and,
WHEREAS,both IDED programs require that the City of Ames act as a sponsoring agency;
and,
WHEREAS, the City responsibilities are limited to review of application and project
completion and to act as the pass-through agency for IDED funding.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa, that
the economic development assistance agreements with Sauer-Danfoss,Inc.,and the Iowa Department
of Economic Development are hereby approved, and the Mayor is authorized to sign the agreements
as the sponsoring agency.
ADOPTED THIS 28th day of November, 2006.
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Mahayni
Seconded by: Popken
Voting aye: Doll, Goodman, Larson, Mahayni, Popken, Rice
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 28th day of November, 2006.