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01/11/2011 Resolutions 2011-1RESOLUTION 2011-1 WHEREAS, the City of Grand Island maintains a Revolving Loan Fund of recaptured Community Development Block Grant (CDBG) Economic Development grant monies; and WHEREAS, a request has been made from the Grand Island Area Economic Development Corporation for use of $7,000.00 of the funds to update an April 2010 Environmental Review of Platte Valley Industrial Park East; and WHEREAS, the proposed project is an eligible use according to the 1994 City Reuse Plan and generally meets the Nebraska State Economic Development Objective, meets the Local Objective, is located in a qualifying area, and is a precursor to additional economic development impacting infrastructure improvements within the city; and WHEREAS, the Reuse Committee met on December 20, 2010 and voted to refer the application request to the City Council with a recommendation for approval of a total of $7,000.00 in reuse funds for the project; and WHEREAS, a Public Hearing was held at the January 11, 2011 Council meeting and legal notice published at least 10 days prior to said meeting; and WHEREAS, Council action is required to commit revolving loan funds to this project. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF GRAND ISLAND, NEBRASKA, that the City of Grand Island commits reuse funds for the purpose of updating an Environment Review of Platte Valley Industrial Park East and authorizes the Mayor to sign all related documents on behalf of the City of Grand Island for this reuse project. Adopted by the City Council of the City of Grand Island, Nebraska, January 11, 2011. gay Attest: man ~ ~ lo~~~. RaNae Edwards, City Clerk Approved as to Form II January 10, 2011 n City Attorney