05/28/2013 Resolutions 2013-161 RESOLUTION 2013-161
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, Chief Industries, Inc. — Chief Fabrication Division, has applied for a
forgivable loan for job incentive,training,and infrastructure in the amount of$305,800.00 from the
Grand Island Area Economic Development Corporation in accordance with the Economic
Development Program; and
WHEREAS,such application has been approved by the Grand Island Area Economic
Development Board of Trustees and was approved on May 21, 2013 by the Citizens Advisory
Review Committee; and
WHEREAS, Chief Industries, Inc. 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 Chief Industries,Inc. 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 Chief
Industries, Inc.,to provide$305,800.00 in economic assistance to Chief Industries, Inc.,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 28, 2013.
ay avri•;-k, Mayor
Attest:
RaNae Edwards, City Clerk
Approved as to Form a
May 28,2013 a Cit orney