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HomeMy WebLinkAbout~Master - Supporting the Submittal of an Application from AMCOR Rigid Packing Requesting Economic Development Assistance from Iowa Economic Development Authority (IEDA) with no Local Match RESOLUTION NO. 20-154 RESOLUTION SUPPORTING THE SUBMITTAL OF AN APPLICATION FROM AMCOR RIGID PACKING REQUESTING ECONOMIC DEVELOPMENT ASSISTANCE FROM IOWA ECONOMIC DEVELOPMENT AUTHORITY(IEDA) WITH NO LOCAL MATCH FOR THE CITY OF AMES, IOWA WHEREAS, Amcor Rigid Packaging Company had applied for economic development assistance from the Iowa Economic Development Authority(IEDA)to expand operations at its Ames plant; and, WHEREAS,the application does not include a request for a local match,but local sponsorship of the application is required to proceed; and, WHEREAS,the project will include the expansion of manufacturing equipment,including four new extrusion/injection lines and three new blow molding machines; and, WHEREAS,the total expected investment for the project is$3,086,270, including$172,591 assistance package from the IEDA in the form of investment tax and other state tax credits; and, WHEREAS,the project will utilize the existing buildings at the Ames facility and is expected to create an additional 42 jobs; and, WHEREAS,the IEDA will review the Amcor application for assistance on April 17,2020,and for the IEDA to continue consideration of this project, the City Council must adopt a resolution supporting the submittal of the Amcor application for IEDA assistance. NOW,THEREFORE,BE IT RESOLVED by the City Council of the City of Ames,Iowa,that the request for the City of Ames to support the submittal of an application from Amcor Rigid Packaging Company requesting economic development assistance from the Iowa Economic Development Authority with no local match requirement is hereby approved. ADOPTED THIS 14'day of April, 2020. Diane . Voss, City Clerk John A. Haila, Mayor Introduced by: Betcher Seconded by: Corrieri Voting aye: Beatty-Hansen, Betcher, Corrieri, Gartin, Junck, Martin Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 14t' day of April, 2020.