HomeMy Public PortalAbout21-2008-21 • RESOLUTION NO. 2008-21 ' 4 "r'
RESOLUTION APPROVING FUNDS FOR THE CONSTRUCTION OF IVY TECH
COMMUNITY COLLEGE
WHEREAS,IVY Tech Community College is constructing a new campus in the city of Greencastle;
WHEREAS, the construction of the new campus will provide improved access to higher education
and job training programs for citizens of Greencastle and the surrounding area, will provide a well-
trained workforce for the local industries and businesses, and will promote the City's economic
development; and,
WHEREAS,the Citizens Advisory Commission for Industrial Development(CACFID)wishes to assist in
the funding of the project,by creating matching opportunities for local businesses,industries and entities wishing
to contribute to the success of the project.
NOW THERFORE BE IT RESOLVED THAT THE the Common Council of the City of Greencastle
approve the disbursement of CACFID funds to NY Tech Community College as follows:
1. CACFID shall provide a matching fund program for businesses,industries and other entities located
• or doing business in Putnam County that wish to contribute to the construction, equipment or
scholarships for the WY Tech Community College Greencastle campus. The matching program
shall not be available for individual contributions.
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2. CACFID shall provide an equal contribution for each dollar contributed by an entity listed above up
to a total not to exceed$300,000.00.
3. All funds contributed by CACFID shall be used for capital expenditures for the NY Tech
Community College Greencastle campus.
4. Payment to IVY Tech Community College shall be$100,000.00 per year for three years,if the entire
amount is matched. If the matching program does not reach$300,000,CACFID shall match up to
$100,000.00 per year until it matches the total amount contributed.
5. The matching fund program shall terminate three years from the date CACFID passes a similar
resolution approving the above expenditure.
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PASSED AN RESOLVED y t e Co on Council of the City of Greencastle at its
regular meeting this day of 2008.
COMMON COUNCIL OF THE CITY OF GREENCASTLE, INDIANA
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John Lanie Jin ie S. Bingham
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Hammer Adam Cohen
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Approved and signed by me this day of 008 a . 'clock p.m.
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Sue Murray, Mayor
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Teresa Glenn, erk-Treasurer
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