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HomeMy WebLinkAbout2004-017-01.12.2004 tri o sHH C'1 t7t4 O ti trj trJo tj H ti H Hr1O THI s .RORlution prepared by Nancy Eckert, City Clerk, 715 Mulberry Stte tH Waterloo, Iowa. •H t H Q trI O N tx� H RESOLUTION NO. 2004-17 ssH OkMEf74-4.L" �T TO RESOLUTION NO. 2001-14 AND RESOLUTION NO. 2003-334 • H sS 0 H C1 s owtrlo AMENDMENT TO THE NEW JOBS AND INCOME PROGRAM 0 Os aerztr (NJIP) APPLICATION ON BEHALF OF DEERE & • .< n COMPANY TO THE IOWA DEPARTMENT OF ECONOMIC tri cA t7 O DEVELOPMENT. © o o Ht*" O 1EAS, the City of Waterloo adopted Resolution No. 2001- 14 oE; anuary 8 , 2001 , and Resolution No. 2003-334 on May 12 , .,O03ehalf of Deere & Company to approve and submit the New , bs , c Income Program Application to the Iowa Department of Econ6cnDevelopment . rC O t� EAS, the City of Waterloo, Iowa, has received a request by Deer & Company to approve and submit an Amendment to the ate Hof Iowa regarding the New Jobs and Income Program Application effective January 12 , 2004 . WHEREAS, the original NJIP application stated that Deere & Company would make a capital investment of more than $132 million and create 87 jobs within five years . WHEREAS, part of the Deere corporate enterprise, John Deere Engine Works and John Deere Waterloo Works, is undertaking a lean manufacturing initiative through redevelopment of the existing manufacturing facility. The amendment is needed to demonstrate the additional costs that will include replacement of existing machinery and equipment with newly purchased assets, training of existing and new employees, related research and development expenditures, and building renovations ($61 , 961, 064) . This amendment also includes the creation of seventy-seven (77) additional jobs . NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WATERLOO, IOWA, that this Resolution submitting and adopting this Amendment of the Deere & Company New Jobs and Income Program Application is hereby approved. PASSED AND ADOPTED this 12th day of January 2004 . (----6--frr-mothyJ. H ley, M yor ATTEST: Nancy Ecker City Clerk