HomeMy WebLinkAbout~Master - Amendment to IDED agreements with Sauer-Danfoss RESOLUTION NO. 11-567
RESOLUTION APPROVING AMENDMENT TO IOWA DEPARTMENT OF
ECONOMIC DEVELOPMENT CEBA AND HQJCP AGREEMENTS
WITH SAUER-DANFOSS
FOR THE CITY OF AMES,IOWA
WHEREAS, in 2007 and 2008, Sauer-Danfoss received approval for financial assistance
from the Iowa Department of Economic Development (IDED) in the form of a Community
Economic Betterment Account (CEBA) loan and a High Quality Job Creation Program (HQJCP)
grant; and,
WHEREAS,the contracts included an agreement by the City to act as the local government
sponsor,and the City has no financial liability under the agreement and responsibility as the sponsor
is limited to "Good Faith Enforcement" of the agreement; and,
WHEREAS, Sauer-Danfoss has requested, and the IDED Board has agreed, to amend the
contract extending the project completion date by one year; and,
WHEREAS,approval of the amendment requires agreement by the City as the local sponsor.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the amendment to the CEBA and HQJCP agreements amongst the City of Ames,Sauer-Danfoss,
and the Iowa Department of Economic Development extending the project completion date to
July 31, 2012, is hereby approved.
ADOPTED THIS 20th day of December, 2011.
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Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Goodman
Seconded by: Wacha
Voting aye: Davis, Goodman, Larson, Mahayni, Orazem, Wacha
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 20t'day of December, 2011.