11/22/2011 Resolutions 2011-348RESOLUTION 2011-348
WHEREAS, the City of Grand Island, Nebraska, was awarded a$605,000 Economic
Development - Community Development Block Grant (10-CR-016) for direct �nancial assistance
to a for-profit business for purchasing equipment; and
WHEREAS, $600,000 in grant funds will be used for equipment purchase and
$5,000 will be used by the City of Grand Island for General Administration; and
WHEREAS, in June 2011, the City entered into a Memorandum of Understanding
with the Nebraska Department of Economic Development, CNH America LLC and the South
Central Economic Development District, Inc. to generally de�ne grant fund distribution and
ongoing management of program income generated from this grant; and
WHEREAS, the Sub-recipient Agreement further specifies responsibilities for
collection of loan repayment proceeds, tracking and reporting of reuse income to the State and City,
and reinvesting reuse funds into further economic development activities; and
WHEREAS, the Council is requested to approve a Sub-recipient Agreement
between the City of Grand Island and the South Central Economic Development District, Inc.
further defining the general guidelines of the MOU for carrying out the terms of the grant; and
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the City of Grand Island, Nebraska is hereby
authorized to enter into a Sub-recipient Agreement between the City of Grand Island and the South
Central Economic Development District, Inc. and the Mayor is hereby authorized and directed to
execute such proceedings on behalf of the City of Grand Island.
Adopted by the City Council of the City of Gra
Attest:
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RaNae Edwards, City Clerk
Approved as to Form tt
November 21, 2011 A City Attorney