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MAHARISHI VEDIC CITY
CITY COUNCIL

Resolution No. 37

Roadway Infrastructure Resolution
Resolution to Submit a RISE Program Grant Application

April 4, 2003

Whereas, Maharishi University of Management is committed to a rapid expansion of its facilities and student population and is in the process of negotiating contracts for over $15 million of facilities and infrastructure construction, with the University being committed to fill these facilities in the fall of 2003;

Whereas, this campus is an especially significant job creation opportunity which will create more than 100 meaningful jobs for the City that can help offset the many instances of job loss in southeastern Iowa, as for example the recent loss of several hundred jobs in Mount Pleasant, Iowa, 25 miles away;

Whereas, because the University in its research has found that construction of this planned expansion in other locations including in other states could cost less, be completed more quickly, have larger local markets, and enjoy other benefits, it is essential that the City be able to compete effectively against these other locations;

Whereas, funding will be needed immediately to provide access to the proposed facility;

Whereas, a RISE program commitment is necessary to the proposed development to enable the City to compete effectively. If a commitment of RISE funding for the proposed road project were not immediately available, the developer would see increased development costs and the City would appear a less attractive candidate for this very economically significant project; and

Whereas, the City is pledging to meet other infrastructure requirements for this university expansion including sewer and natural gas in order to attract the project to the City.

Now therefore, be it resolved that the City submit a RISE program grant application to support expansion of roadways to serve the immediate campus expansion of Maharishi University of Management where this road expansion is necessary to attract this expansion to Iowa.

Further resolved, the City Council certifies an immediate, non-speculative opportunity exists for permanent job creation in the City and the City is negotiating with Maharishi University of Management on its planned campus expansion; Vedic City feels it is the natural home for the expansion of Maharishi University of Management.

Further resolved, that the City has determined that this opportunity will create more than one hundred permanent meaningful jobs for the City.

Further resolved that Vedic City finds that RISE funding is essential to this job creation effort.

Further resolved that all roadway involved in the project will be dedicated to public use.

Further resolved that the City, through annexation of the properties involved, will assume jurisdictional responsibility for the new roadway, and will maintain this roadway in accord with current practice.

Further resolved, that the City guarantees twenty percent (20%) non-RISE funding for the two-phase roadway infrastructure project.

PASSED AND APPROVED:

Date: April 4, 2003

Honorable Dr. Bob Wynne, Mayor
Attest:
Kathy Petersen, City Clerk