02/15/88 Board of Public Works Minutes

Home Browse Search

REGULAR MEETING FEBRUARY 15, 1988 for approval and execution is Agreement and Training Grant Pistons, Inc. an Investment Incentive Fund Loan Agreement between the City and AE Mr. Inks stated that the City of South Bend applied and was granted $100,000.00 from the State of Indiana. The $100,000.00 will that be provided to AE Pistons in AE Pistons is constructing a the form of a loan. He noted new building and the business will provide fifteen and one-half million dollars of new investment. He also advised that the company will employ sixty (60) individuals with that number increasing to seventy-five (75) over the next few years. Mr. Inks informed the Board that the purpose of the loan was an incentive to locate in this area and the documents submitted today finalize that transaction. It was noted that the loan is to be paid back over a two (2) year period at the rate of five per cent (5%). It was further noted that the $100,000.00 will be used to purchase machinery and equipment. Mr. Inks additionally explained that the Training Grant Agreement submitted today for approval and execution provides that when the number of individuals employed by AE Pistons reaches over seventy-five (75), they can receive funds for training costs which will come from repayment of the $100,000.00 loan which is to be repaid to the City. They can apply to get that money back in the form of a grant to train additional employees. If the total number of employees does not reach seventy-five (75), the re -payments will stay with the City for future development purposes. Therefore, upon a motion made by Ms. Humphreys, seconded by Mrs. DeClercq and carried, the above referred to Loan and Grant Agreements were approved and executed. FILING OF APPLICATIONS FOR BIDDER UALIFICATION/CERTIFICATION Upon a motion made by Mrs. DeClercq, seconded by Ms. Humphreys and carried, Applications for Bidder Qualification/Certification for the following were accepted for filing: 1. Rockwell International Corporation 400 North Lexington Avenue Pittsburgh, PA 15208 2. Rieth-Riley Construction Company, Inc. P.O. Box 1775 South Bend, Indiana 3. American Cast Iron Pipe Company 2930 16th Street North P.O. Box 2727 Birmingham, AL APPROVE REQUEST OF SOUTH BEND SYMPHONY ORCHESTRA FOR TRAFFIC ASSISTANCE - APRIL 14-15 1988 Mr. Leszczynski advised that the appropriate City departments and bureaus have reviewed the above referred to request submitted to the Board on January 25, 1988 and recommend approval. It was noted that the buses bringing children to the concerts will utilize the Shopper's Lot on the mornings of April 14th and 15th for the parking of the buses. Therefore, upon a motion made by Mrs. DeClercq, seconded by Ms. Humphreys and carried, the above referred to recommendation was accepted and the request approved. APPROVE REQUEST OF CITY AWNING TO ERECT AWING AT 129 NORTH MAIN STREET - INSTANT COPY Mr. Leszczynski noted that on December 29, 1987, City Awning of South Bend, 1835 South Franklin Street, South Bend, Indiana,