HomeMy WebLinkAbout2004-220-04.12.2004 This Resolution prepared by Nancy Eckert, City Clerk, 715 Mulberry
Street, Waterloo, Iowa.
RESOLUTION NO. 2004-220
RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF WATERLOO, IOWA, APPROVING THE APPLICATION
OF DENSO INTERNATIONAL AMERICA, INC. FOR THE
PURPOSE OF RECEIVING BENEFITS UNDER 2003
IOWA CODE SECTIONS 15 . 381-15 . 387 .
WHEREAS, the City of Waterloo, Iowa has received a request
by Denso International America, Inc . to approve and submit an
application to the State of Iowa by the authority of Sections
15 . 381-15 . 387 of the 2003 Code of Iowa, the New Capital
Investment Program; and
WHEREAS, the New Capital Investment Program was established
to promote economic development in the State of Iowa; and
WHEREAS, the City Council supports activities which promote
and facilitate economic development within Waterloo; and
WHEREAS, Denso International America, Inc . has indicated
they will :
1 . Provide comprehensive health insurance benefits
to its employees .
2 . Anticipate hiring six new positions of which pay
an hourly wage of $35 . 00 per hour or greater over
five years and retaining 19 positions .
3 . Make new qualifying capital investments of at
least $2 million in new construction eligible for
a sales tax credit within the next two years .
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WATERLOO, IOWA, that :
a. The City of Waterloo, Iowa approves the
expansion of Denso International America,
Inc . in Waterloo for purposes of receiving
the benefits of the New Capital Investment
Program.
b. The City Clerk shall provide a copy of this
resolution to the Iowa Department of
Economic Development .
c . Officers of the City are hereby authorized
to cake such further actions as deemed
necessary in order to carry into effect the
provisions of this resolution.
d. All resolutions and parts thereof in
conflict herewith are hereby repealed to the
extent of such conflict .
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Ret¢ Yon No. 2004-220
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t'1 H n e . That the provisions of this resolution are
H HCD H hereby declared to be separable and if any
o 1 H o s section, phrase or provision shall for any
o C) t1 reason be declared to be invalid, such
declaration shall not affect the validity of
otrI t y the remainder of the sections, phrases and
O H provisions hereof .
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I f . This resolution shall become effective
CA H H H W immediatelyuponits
o ,1-1O > passage and approval .
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0gSED AND ADOPTED this 12th of April , 2004 .
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