05/10/2011 Resolutions 2011-121RESOLUTION 2011 -121
WHEREAS, on July 22, 2003, the City of Grand Island adopted an Economic
Development Program and a Citizens' Advisory Review Committee to oversee the process of
approving applications for economic development incentives; and
WHEREAS, Case New Holland (CNH American, LLC) has applied for a forgivable
loan for job incentive in the amount of $219,000.00 from the Grand Island Area Economic
Development Corporation in accordance with the Economic Development Program; and
WHEREAS, such application has been approved by the executive committee of the
Economic Development Corporation and was approved on April 26, 2011 by the Citizens Advisory
Review Committee; and
WHEREAS, Case New Holland (CNH American, LLC). will be required to meet or
exceed employment numbers and employee salary levels as outlined in the Economic Development
Agreement to retain all of the economic incentives granted under the agreement; and
WHEREAS, it is in the best interests of the City to provide economic development
funding to Case New Holland (CNH American, LLC) as provided by the Grand Island Economic
Development Program.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Economic Development Agreement by and
between the City, the Grand Island Area Economic Development Corporation and Case New
Holland (CNH American, LLC), to provide $219,000.00 in economic assistance to Case New
Holland (CNH American, LLC), to be used for expanding its business in Grand Island is hereby
approved.
BE IT FURTHER RESOLVED, that the Mayor is hereby authorized and directed to
execute such agreement on behalf of the City of Grand Island.
Adopted by the City Council of the City of Grand Island, Nebraska, May 10, 2011.
Approved as to Form a
May 6, 2011 13 City Attorney