HomeMy WebLinkAbout1987-R-20CITY OF JEFFERSONVILLE, INDIANA
RESOLUTION NO. ~'~ ~' ~
RESOLUTION AUTHORIZING THE SUBMISSION OF AN APPLICATION
TO THE INDIANA DEPARTMENT OF COMMERCE FOR INDUSTRIAL
INCENTIVE PROGRAM (liP) FUNDING.
WHEREAS, The City of Jeffersonville is desirious of promoting
industrial development and expansion and the creation of new permanent
jobs within the city;
WHEREAS, Eagle Steel Products, Inc., must purchase a 25 ton crane
system and two coil cars.
WHEREAS, Eagle Steel Products, Inc., desires to locate in the Clark
Maritime Centre making a capital investment in equipment of $500,000 and
creating 125 permanent full-time jobs within 6 years.
WHEREAS, This firm's commitment is subject
State and Federal Industrial Incentive Program
Indiana Department of Commerce;
to the approval of a
(liP) funding by the
WNEREAS, The proposed project is consistent with the City's policy
of promotin9 industrial development and expansion and with the City's
overall development scheme;
THEREFORE, LET IT BE RESOLVED, this 6th day of July, 1987, by the
Jeffersonville City Council that S.K. Wilson Associates, Inc., is
authorized to prepare and package an application to the Indiana
Department of Commerce. The applications request shall total
$44,000 for State liP for the purpose of purchasing machinery and
equipment by Eagle Steel Products, Inc. Upon application approvals,
$40,000 will be loaned to Eagle Steel Products,Inc. for a 5 year term at
5 percent interest. In conformance with regulations of the Indiana
Department of Commerce repayment of said loan shall be put, into
revolving loan fund to provide similar assistance to new and/or
expanding businesses. FURTHER LET 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.