HomeMy WebLinkAboutAuthorizing the Mayor to Submit Application to Indiana Department of Commerce for State Investment Incentive Program (Miles Laboratory Inc.)RESOLUTION
NO. 1703 -89
Passed by the Common Council of the City of South Bend, Indiana.
Attest:_
February
k-
13,
m
Clerk
Attest: President of Common Council.
Presented by me to the Mayor of the City of South Bend,
February 14, 89
19
Approved and signed by me_ _ February 14.,_ 193_
9
City Clerk
Mayor
RESOLUTION NO. l /D3 19
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. (MILES LABORATORY 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, Miles Laboratory Inc. project will benefit the
local economy specifically by adding 130 new jobs to the area, and
by generating new taxes on improvements to real and personal
property; and
WHEREAS, Miles Laboratory Inc. will be locating its
recently acquired St. Louis operation in South Bend, and fits into
the overall development concept as it will contribute to the
restoration and diversification of our industrial base; and
WHEREAS, the Miles Laboratory Inc. will require various
Machinery and Equipment costing $1,800,000; real property costing
$1,000,000 and relocation cost of $1,000,000. The receipt of an
Investment.Incentive Grant will enable the City of South Bend to
assist in the financing with a $150,000 loan and a $150,000 grant
from the Business Development Corporation.
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 Miles Laboratory 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.
PRESENTED d 0 9
NOT APPROVED
nv:: PSED a -
the C-0-mmo/ro
FEB 9 1989
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