HomeMy WebLinkAbout1984-R-16CITY (,q: J[:l I LI.~SOi'IVILLE, INDIANA
RESOLLJT4ON NO.~
RESOLUTION AUTtlORIZING TIlE SUBMISSION OF AN APPLICATION
TO THE INDIANA DEPARTMEr,IT OF COMMERCE FOR INDUSTRIAL
IHCENTIVE PROGRAM (liP) FUNDING."
WtlEREAS, The City of Jeffersonville is desirious of promoting
industrial development and expansion and the creation of new permanent
jobs within tile city;
WHEREAS, Amatrol, Inc. is desirious of locating in the Jeffersonville
Industrial Park;
WItEREAS, Amatrol, Inc. has committed to locating at the industrial
park, making a capital investment in land, building, and equipment of
$1,000,000 and creaHng 75 permanent full-time jobs within three years;
WtlEREAS, This firm's commitment is subject to the approval of
Indust, rial Incentive Program (liP) funding by the Indiana Department of
Commerce;
WtlEREAS, The proposed project is consistent with the City's policy
of promoting inclustrial development and
overall development scheme;
THEREFORE, LET IT BE RE.~OLVED, this
Jeffersonville City Council that S.K.
expansion and with the City's
19th day of May 198q, by the
Wilson Associates, Inc., is
authorized to prepare and package an application to the Indiana
Department of Commerce. The application request shall total
$ ~ ~'~"',~0, inclusive of costs associated with environmental review
and project administration, for tile purpose of purchasing machinery and
equipment by Amatrol, Inc. Upon application approval, $250,000 will be
loaned to Amatrol, Inc. for a 10 year term at 3 percent interest.
Repayments of said loan shall be put into revolving loan fund to provide
similar assistance to new and/or expanding businesses in the Riverfront
Development Area, FURTIIER [.ET IT BE RESOLVED, by the
City-Council that the Mayor of the City is authorized to execute all
documents necessary for the submission of the application and the grant
agreement.