DISCLAIMER

PLANNING AND ECONOMIC DEVELOPMENT


08-0416R


RESOLUTION AUTHORIZING AN AMENDED AND RESTATED JOB OPPORTUNITY BUILDING ZONE (JOBZ) BUSINESS SUBSIDY AGREEMENT WITH IKONICS CORPORATION.

CITY PROPOSAL:

     RESOLVED, that the proper city officials are authorized to enter into an amended and restated JOBZ business subsidy agreement substantially in the form of that on file in the office of the city clerk as Public Document No. ____________ with IKONICS Corporation (qualified business) related to property located at 2404 Commonwealth (the former Atlas Cement Plant site.)


BUSINESS DEVELOPMENT/ATTY


STATEMENT OF PURPOSE:   The purpose of this resolution is to authorize an amended and restated JOBZ agreement with the qualified business. The original agreement inadvertantly made reference to the project being a relocation as opposed to an expansion. In their review of the document, DEED inquired about this. The amended and restated agreement correctly describes the JOBZ project as a business expansion.