05/28/2013 Resolutions 2013-162 --- RESOLUTION 2013-162
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, Central Community College has applied for a forgivable loan for new
equipment in the Central Community College Industrial Academy in the amount of$95,000.00 from
the Grand Island Area Economic Development Corporation in accordance with the Economic
Development Program; and
WHEREAS,such application has been approved by the Grand Island Area Economic
Development Corporation Board of Trustees and was denied on May 21, 2013 by the Citizens
Advisory Review Committee; and
WHEREAS, Central Community College will be required to meet or exceed 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 Central Community College 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 Central
Community College,to provide$95,000.00 in economic assistance to Central Community College,
to be used for new equipment 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, 1 ay 28, 2013.
A ' e
/ pa
ay avricej, Mayor
Attest:
i
III
RaNae Edwards, City Clerk
Approved as to Form a `„
May 28,2013 a City Inrney