HomeMy WebLinkAbout~Master - Extension of agreement with NewLink Genetics Corporation RESOLUTION NO. 11-141
RESOLUTION APPROVING EXTENSION OF HIGH QUALITY JOB CREATION
PROGRAM AGREEMENT WITH NEWLINK GENETICS CORPORATION
FOR THE CITY OF AMES, IOWA
WHEREAS,NewLink Genetics(NewLink)is an Ames-based pharmaceutical development
company; and,
WHEREAS, in 2007, NewLink received approval for financial assistance from the Iowa
Department of Economic Development (IDED) with direct assistance provided in the form of a
$200,000 High Quality Job Creation Program (HQJC) forgivable loan; and,
WHEREAS, the HQJC contract included an agreement by the City to act as the local
government sponsor; and,
WHEREAS,NewLink has requested,and the IDED Board has agreed,to amend the contract
to extend the project completion date from March 18, 2011, to March 18, 2012, and to also extend
the maintenance period for job retention from March 18, 2016, to March 18, 2017; and,
WHEREAS, approval of the amendment requires agreement by the City as local sponsor.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the amendment to the HQJC agreement amongst the City of Ames,NewLink Genetics,and the
IDED, extending the project completion date and maintenance period for job retention by one year
is hereby approved.
ADOPTED THIS 12'h day of April, 2011.
s
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Mahayni
Seconded by: Goodman
Voting aye: Davis, Goodman, Mahayni, Larson, Orazem, Wacha
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 12'day of April, 2011.