HomeMy WebLinkAboutAuthorizing the Mayor to Sumbit an Application to Indiana Department of Commerce for State Investment Incentive Program Fund (Precision Tool & Die and Design Inc.) RESOLUTION
NO. 1505-87
Passed by the Common Council of the City of South Bend, Indiana,
May 11 , 19 87 .
Attest: T City Clerk
Attes ,/,+. . ,AL/ ��- - -�� President of Common Council.
Presented by me to the Mayor of the City of South Bend, Indiana
May 12, 19 87.
City Clerk
Approved and signed by me / / /ay /2_ 19 b 7 .
1Z../A....,,C-Mayor
RESOLUTION NO. 15-0 -47
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 (PRECISION TOOL & DIE AND DESIGN, INC. ) .
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 Precision Tool & Die and Design, Inc. project
will benefit the local economy, specifically by increasing foundry
employment in South Bend by adding 80 local machining jobs; and
WHEREAS, the acquisition of the Assets of Advance
Engineering by Precision Tool & Die and Design, Inc. would serve to
introduce approximately $3 million of sales volume to the South Bend
operation, utilize currently vacant industrial space in South Bend's
Urban Enterprise Zone, and increase the potential for attraction of
new customers for products manufactured in South Bend; 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
Precision Tool & Die and Design, Inc. to begin their operation in
South Bend; and
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
Precision Tool & Die and Design Inc. 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.
0111 Me -,-r of the Common,' ouncil
PRESENTED , //-SJ J MAY 8 1987
NOT APPROVED
ADOPTED or//- 7 CITY CUM, W. SEND, V.