05/28/2013 Resolutions 2013-160 RESOLUTION 2013-160
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, CNH America, LLC(Case New Holland),has applied for a forgivable
loan for job incentive and training in the amount of $500,000.00 from the Grand Island Area
Economic Development Corporation (GIAEDC) in accordance with the Economic Development
Program; and
WHEREAS,such application has been approved by the GIAEDC Board of Trustees
and was approved on May 21, 2013 by the Citizens Advisory Review Committee; and
WHEREAS, CNH America, LLC (Case New Holland) 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 CNH America, LLC (Case New Holland) 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 CNH
America, LLC (Case New Holland), to provide $500,000.00 in economic assistance to CNH
America, LLC(Case New Holland),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,Nebraskaay 28, 2013.
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ay avrice Mayor
Attest:
1. 1111
i 4
RaNae Edwards, City Clerk
Approved as to Form a
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May 28,2013 a City AT ney