HomeMy WebLinkAbout~Master - Endorsement of application for financial assistance for WebFilings, LLC RESOLUTION NO. 12-636
RESOLUTION ENDORSING IOWA ECONOMIC DEVELOPMENT AUTHORITY
APPLICATION FOR FINANCIAL ASSISTANCE FOR WEBFILINGS, LLC,
FOR THE CITY OF AMES, IOWA
WHEREAS, WebFilings is a privately held Los Altos, California, and Ames, Iowa-based
company that offers financial and regulatory reporting solutions; and,
WHEREAS,WebFilings has software development and sales and marketing support operations
located in the ISU Research Park, and the company has been rapidly expanding operations in Ames;
and,
WHEREAS, WebFilings has applied for economic development assistance from the Iowa
Economic Development Authority(IEDA)with a local match provided by the City of Ames in the form
of our existing Industrial Property Tax Abatement Program; and,
WHEREAS, the project will include building expansion and associated computer equipment
and furniture and fixtures; and,
WHEREAS, total investment expected for the project is over $32 million, including a
$1,200,000 loan from IEDA and High Quality Job Program tax credits; and,
WHEREAS,this project is an expansion beyond the building currently under construction and
is expected to create an additional 135 jobs; and,
WHEREAS, the local assistance from the City is limited to the currently existing Industrial
Property Tax Abatement Program that would be available to the business for qualified improvements
even if not used as a match to IEDA assistance; and,
WHEREAS, for the IEDA to continue consideration of this project, the City Council must
adopt a resolution supporting the submittal of the WebFilings application for IEDA assistance.
NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that
support of the submittal of an application from WebFilings, LLC, requesting economic development
assistance from the IEDA with a local match to be provided in the form of Industrial Property Tax
abatement is hereby approved.
ADOPTED THIS 18" day of December, 2012.
1
_ `-4.�� ems.
Diane R. Voss, City Clerk Ann H. Campbell, Mayor
Introduced by: Goodman
Seconded by: Davis
Voting aye: Davis, Goodman, Larson, Orazem, Szopinski
Voting nay: None Absent: None
Abstaining: Wacha
Resolution declared adopted and signed by the Mayor this 18t1i day of December, 2012.