09/13/2016 Resolutions 2016-222� -,
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R E S O L U T I O N 2016-222
WHEREAS, on November 6, 2012, 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, Borer Wholesale has applied for a forgivable loan for job creation and
training in the amount of $117,000.00 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 on July 28, 2016 and was approved on September 1, 2016 by
the Citizens Advisory Review Committee; and
WHEREAS, Borer Wholesale 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 Borer Wholesale 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 Borer
Wholesale, to provide $117,000.00 in economic assistance to Borer Wholesale 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, September 13, 2016.
Attest:
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RaNae Edwards, City Clerk
Jer y .Je sen, yor
Approved as to Form tt
September 12, 2016 �^ City� tomey