ANKENY CITY COUNCIL

Regular Agenda

October 2, 2017
5 : 30 PM
Gary Lorenz, Mayor
Mark Holm, Mayor Pro tem
Council Members: Bobbi Bentz, Jim McKenna, Wade Steenhoek, Kerry Walter-Ashby
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ORIGINATING DEPARTMENT: COUNCIL GOAL:
Economic Development Ankeny as a Successful Business Center
ACTION REQUESTED:
Resolution
LEGAL:
No Review Required
SUBJECT:

Consider motion to adopt RESOLUTION authorizing the City of Ankeny to enter into an amended contract with the Iowa Economic Development Authority and New Horizon Cuisine.
EXECUTIVE SUMMARY:
The IEDA recently approved an amendment to contract (#12-IVF/TC-003) between IEDA, New Horizon Cuisine and the City of Ankeny. This contract awarded New Horizon Cuisine incentives for the creation of 15 jobs resulting from the construction of an approximate 6,000 s.f. facility at 1430 SE Cortina Drive.  New Horizon Cuisine received a 8-month extension to the project completion date, allowing New Horizon Cuisine additional time to create these positions.  The project completion date has been extended from December 31, 2016 to August 31, 2017.  As a party to the contract, City Council action is required for amendments to the contract.  This is the only amendment to this contract and the third time New Horizon Cuisine has been granted an extension.
FISCAL IMPACT: No
IEDA's contract concerns State of Iowa corporate income tax credits and direct financial assistance.  It does not pertain to local incentives provided by the City.  New Horizon Cuisine is in compliance with all the terms of their development agreement with the City.
CITY MANAGER'S RECOMMENDATIONS:
To approve as presented.
PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S):
The City Council approved Resolution No. 2011-223 endorsing New Horizon Cuisine's application to IEDA's High Quality Jobs program and approved Resolution No. 2012-044 on February 6, 2012 authorizing the Mayor to execute the contract between IEDA, New Horizon Cuisine and the City.  The City Council approved an amendment to this contract on March 2, 2015 and December 5, 2016.
PUBLIC OUTREACH EFFORTS:
N/A
ACTION REQUESTED:
ADDITIONAL INFORMATION:
ATTACHMENTS:
Click to download
Resolution
IEDA City New Horizon Contract Amendment