HomeMy WebLinkAbout1988-R-12CITY OF JEFFERSONVILLE, INDIANA
RESOLUTION NO. ~ ~
RESOLUTION AUTHORIZING THE SUBMISSION OF AN APPLICATION TO THE
INDIANA DEPARTMENT OF COMMERCE FOR THE CAPITAL ASSISTANCE FOR SMALL
ENTERPRISES PROGRAM FUNDING.
WHEREAS, the City of Jeffersonville is desirous of promoting small business
development and expansion and the creation of new permanent jobs within the
city;
WHEREAS, Ashley Lithographing, Inc. is desirous of locating its printing
facility in Jeffersonville, Indiana;
WHEREAS, Ashley Lithographing has committed to locating in Jeffersonville
by leasing a facility and preparing to make a capital investment in equipment.
The project will consist of an investment of $590,000 with the creation of
20 new full-time and permanent jobs during the next year;
WHEREAS, this firm's commitment is subject to the approval of Capital
Assistance for Small Enterprises Program funding by the Indiana Department
of Commerce;
WHEREAS, The proposed project is consistent with the City'~ pQlicy of
encouraging new investment and job creation by small~.businesses and with the
City's overall development scheme;
THEREFORE, LET IT BE RESOLVED, this 21st day of MaS, 1988, by the Common
Council of the City of Jeffersonville that the Department of Redevelopment of
the City of Jeffersonville is hereby authorized to prepare and package an
application to the Indiana Department of Commerce with regard to this project.
The application request shall total $50,000, exclusive of costs associated with
environmental review and project administration, for the purpose of assisting
Ashley Lighographing with financing for working capital needs for their operation.
Upon application approval, this $50,000 will be matched with a bank loan and
the City and the bank together will loan a total of $100,000 to Ashley Lighograph-
ing for working capital. The repayments of said loan will be made to the Indiana
Department of Commerce and to the lending institution.
LET IT BE FURTHER RESOLVED, by the Common Council that the Mayor of the
City of Jeffersonville is authorized to execute all documents necessary for the
submission of the application and grant agreement.
Passed and adopted this ~_/ day of~_~__~ 1988, by the Common Council
of the CitY of Jeffersonville, Clark County, Indiana.
ATTEST:
C. Richard Spencer, Jr. ~/
Clerk-Treasurer
Presented by me as Clerk-Treasurer to the Mayor of the City of Jeffersonville,
Indiana, this ~ day of ~, 1988. ~,.~0.~ /~~//~,~ ~ ~
C~ Richard Spencer~ Jr. ~ ~
Clerk-Treasurer
Approved and signed by me this __
day of ~4A~ , 1988.
Mayo~ale L. Orem