Authorizing the Mayor to Submit an Application to the Indiana Department of Commerce for the State Investment Incentive Program Fund - A E Inc.

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• RESOLUTION NO. I stI ci-k 6 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 INVESTMENT INCENTIVE PROGRAM FUND WHEREAS, the City of South Bend is dedicated to pursing 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, A E Inc. will benefit the local economy, specifically by creating new manufacturing jobs and new construction 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, the location of A E Inc. a new manufacturing industry, into the South Bend area fits into our overall development concept as it will contribute to the restoration and diversification of our industrial base; and WHEREAS, the receipt of a State Investment Incentive Grant will enable the City of South Bend to finance a portion of the production equipment costs necessary to allow A E Inc. to commence operations at their newly constructed manufacturing facility in the Toll Road Industrial Park. NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA: SECTION I. Hereby establishes the authority of the Mayor of the City of South Bend to submit a State Investment Incentive Grant application to the Indiana Department of Commerce for the A E Inc. industrial project. 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. I if - .- of the Co isf Co cil PRESENTED S- I b NOT APPROVED ADOPTED S- I a - 41.0 ate+ ¢ r