HomeMy WebLinkAboutAuthorizing the Mayor to Sumbit an Application to Indiana Department of Commerce for State Investment Incentive Program Fund (Sibley Machine & Foundry Corp.) RESOLUTION
NO. 1506-87
Passed by the Common Council of the City of South Bend, Indiana,
May 11 . 19 87 .
I
Attest: r City Clerk
Attest: `° President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
May 12, 19 87.
- C t " - 'c-“--o--. City Clerk
Approved and signed by me Way/ay /2- 197.
ft/7
4-64,� Thayor
RESOLUTION NO. IS-442
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 (SIBLEY MACHINE AND FOUNDRY
CORPORATION)
WHEREAS, the City of South Bend 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, the Sibley Machine and Foundry Corporation project
will benefit the local economy, specifically by increasing foundry
employment by 75 jobs in South Bend, and, in time, add an additional
15 - 40 local machining jobs; and
WHEREAS, the acquisition of General Castings Corporation
assets in Waukesha, Wisconsin by Sibley would serve to introduce
approximately $6. 5 million of sales volume to the South Bend
operations, utilize the drastically underutilized capacity of both
the machining and casting operations, and stabilize the future
employment potential for the existing work force of 195; and
WHEREAS, the receipt of a State Investment Incentive Grant
will enable the City of South Bend to finance a portion of the
acquisition cost of manufacturing equipment necessary to allow Sibley
Machine & Foundry Corporation to increase their sales and thus
enhance the long term viability of the entire Sibley operation.
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
Sibley Machine & Foundry Corporation 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.
Me r of the Common '•uncil
lied irs Odes Offict
MAY 81987
PRESENTED .6"-//- Si 7 Gait W' SK, SO, BEND, I?
NOT APPROVED
ADOPTED S-//-8 7