HomeMy Public PortalAbout199-2010 - City - EDC for PRS.docAGREEMENT
This Agreement is between the City of Richmond (hereinafter “City”), by Mayor Sally Hutton, and the Economic Development Corporation of Wayne County (“hereinafter “EDC”),
by Tim Rogers.
WHEREAS, Perpetual Recycling Solutions is planning to locate a new plastics recycling facility at 1561 NW 11th Street in Richmond;
WHEREAS, The City of Richmond is committed to attracting new tax base and employment opportunities;
WHEREAS, Perpetual Recycling Solutions is planning over $30 million in investment and the creation of 55 new jobs;
WHEREAS, The City of Richmond and EDC are providing incentives to attract Perpetual Recycling Solutions;
WHEREAS, The City can utilize the EDC as a conduit for distribution of economic development incentives.
Now, therefore, the parties agree as follows:
The City of Richmond has offered to provide a general purpose grant to be used in conjunction with the EDC’s incentives to attract Perpetual Recycling Solutions.
The general purpose grant shall be disbursed consistently with the Incentive Agreement agreed to by Perpetual Recycling Solutions and the EDC.
3. The entire general purpose grant shall not to exceed $125,000.
All of which is agreed to this _16th __ day of _December_____, 2010.
CITY OF RICHMOND, INDIANA
By: S/S Sally Hutton
Sally Hutton
Mayor
ECONOMIC DEVELOPMENT CORPORATION OF WAYNE COUNTY
By: S/S Tim Rogers
Tim Rogers
President/CEO
Contract No. 199-2010