Authorizing the Mayor to Submit an Application to Indiana Dept. of Commerce for State Industrial Development Grant Fund (American Moulding Inc.)

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RESOLUTION NO. I L 7 F- 9 RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, AUTHORIZING THE MAYOR TO SUBMIT AN APPLICATION TO THE INDIANA DEPARTMENT OF COMMERCE FOR THE STATE INDUSTRIAL DEVELOPMENT GRANT FUND. (AMERICAN MOULDING INC.) WHEREAS, the City of South Bend, Indiana, is dedicated to pursuing economic development through promoting growth of businesses which stimulate the local economy and thereby benefit the people of South Bend as a whole; and WHEREAS, American Molding Inc. project will benefit the local economy specifically by adding 15 new jobs to the area and within two years increasing that level of employment by 10 additional jobs, by generating new taxes on real and personal property, by utilizing vacant land, and by contributing to the construction of a new building and infrastructure development in the South Bend community; and WHEREAS, American Molding Inc. will be locating a regional warehouse and fabrication office in the Toll Road Industrial Park and fits into the overall development concept as it will contribute to the restoration and diversification of our industrial base; and WHEREAS, the receipt of an Industrial Development Grant will enable the City of South Bend to provide the infrastructure improvements necessary to implement this project; specifically, by allowing American Moulding Inc. to locate in the Toll Road Industrial Park. NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of South Bend, Indiana, as follows: SECTION I. The Council Hereby establishes the authority of the Mayor of the City of South Bend to submit a State Industrial Development Grant application to the Indiana Department of Commerce for the American Moulding Inc. SECTION II. This Resolution shall be in full force and effect immediately upon passage by the Common Council of the City of South Bend, Indiana, and approval by the Mayor. tiOT APPPOVED ADOPTER Membe of the Common Council ilea? II, CleWS Utt9i NOV 22 1988 IRE 14E GAMMOF. MY CLEF; SO, F r. "