HomeMy WebLinkAboutAuthorizing the Mayor to Submit an Application to Indiana Dept. of Commerce for State Investment Incentive Program (KCP Printing Co. Inc.)RESOLUTION
NO. 1679 -88
Passed by the Common Council of the City of South Bend,
Attest
Clerk
Presented by me to the Mayor of the City of South Bend,
November 29, 19 88.
of Common Council.
I°L- � City Clerk
Approved and signed by me IvOVti.V kl SP— V;° 19,31K .
t'4� Mayor
RESOLUTION NO. 1 („! 4; g 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 INVESTMENT INCENTIVE
PROGRAM. (KCP PRINTING COMPANY, 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, KCP Printing Company, Inc. project will benefit the
local economy specifically by adding 20 new jobs to the area and
within two years increasing that level of employment by 13 additional
jobs, and by generating new taxes on real and personal property; and
WHEREAS, KCP Printing Company, Inc. will be locating a new
business start -up in the Airport Industrial Park and needs assistance
with the construction of a new facility of approximately 15,000
square feet to be built by and leased from the Business Development
Corporation of South Bend, Mishawaka, and St. Joseph County, In.; and
WHEREAS, KCP Printing Company, Inc. will require new
building construction costing $500,000. The receipt of an Investment
Incentive Grant will enable the City of South Bend to assist in the
financing with a $50,000 loan.
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 Investment
Incentive Program Grant application to the Indiana Department of
Commerce for the KCP Printing Company, 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.
KESENTE ) k k - g
NOT APKOVED
NDOPTED
embe of the Common Council
-aed In Clerk's �t N.
NOV 2 2 1988
IRE NE GAMMOF
CITY CLERK, SO, Rg:*'A '