06/27/2017 Resolutions 2017-191RESOLUTION 2017-191
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, Hendrix ISA, LLC has applied for a forgivable loan for job creation, job
training and infrastructure in the amount of $600,000.00 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 March 16, 2017 and was approved on June 14, 2017 by the
Citizens Advisory Review Committee; and
WHEREAS, Hendrix ISA, LLC 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 Hendrix ISA, LLC 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 Hendrix ISA,
LLC, to provide $600,000.00 in economic assistance to Hendrix ISA, LLC to be used for
construction of 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, June 27, 2017.
Attest:
RaNae Edwards, City Clerk
t�—
Jer y .Je se , ayor
Approved as to Form tt
June 26, 2017 � ity orney