File #: 885-2021    Version: 1 Name:
Type: Emergency Ordinance Status: Passed
File created: 10/8/2021 In control: City Council
On agenda: 10/25/2021 Final action: 10/25/2021
Passage/adoption date: 10/25/2021
Effective date: 10/26/2021    
Title: AN EMERGENCY ORDINANCE Authorizing the Director of Economic Development to enter into both a loan agreement and a grant agreement with Manufacturing Advocacy & Growth Network, Inc., (MAGNET) or its designee, to provide assistance for the purchasing of new machinery and equipment for their new headquarters to be located at 1800 East 63rd Street and to assist with construction, and other associated costs necessary to redevelop the property.
Sponsors: Basheer S. Jones, Anthony Brancatelli, Kevin J. Kelley, By Departmental Request
Attachments: 1. 885-2021-Loan and grant w Manufacturing Advocacy Growth Network MAGNET for new headquarters on E 63, 2. 885-2021-A-FILE - Manufacturing Advocacy MAGNET, 3. 885-2021 Exec. Summary -MAGNET $500000 CARES Act Loan + $500000 NDIF Grant

Title

AN EMERGENCY ORDINANCE Authorizing the Director of Economic Development to enter into both a loan agreement and a grant agreement with Manufacturing Advocacy & Growth Network, Inc., (MAGNET) or its designee, to provide assistance for the purchasing of new machinery and equipment for their new headquarters to be located at 1800 East 63rd Street and to assist with construction, and other associated costs necessary to redevelop the property.