ADOPTED 06/02/1998

WHEREAS, funds are available from the Tennessee Department of Economic and Community Development's Tennessee Industrial Infrastructure Program (TIIP) to provide grants to local governments or other appropriate local entities authorized to receive and expend funds for infrastructure improvements which will support tile location and expansion of industry and tile creation of new jobs; and

WHEREAS, the Metropolitan Government of Nashville and Davidson County by and through the Mayor's Office of Economic Development wishes to provide infrastructure improvements which will support tile relocation and expansion of Bindtech and result in the creation of 80 new jobs; and

WHEREAS, it is deemed prudent and beneficial to the Metropolitan Government to have the Industrial Development Board of the Metropolitan Government of Nashville and Davidson County apply for these funds; and

WHEREAS, the Industrial Development Board, acting in furtherance of the government's desire for infrastructure improvements, has the ability to apply for Tennessee Industrial Infrastructure Program (TIIP) funds in the amount of $67,524 and should such funds be awarded, the Industrial Development Board has the ability to enter into appropriate and necessary agreements with the Tennessee Department of Economic and Community Development and private parties to bring about infrastructure improvements.

SECTION 1: That the Industrial Development Board of the Metropolitan Government of Nashville and Davidson County is authorized to submit an application for Tennessee Industrial Infrastructure Program (TIIP) funds in the amount of $67,524.

SECTION 2: This Resolution shall take effect after its adoption, the economic welfare of the Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored By: Janis Sontany