06/11/2019 Resolutions 2019-192RESOLUTION 2019-192
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, Zabuni Specialty Coffee Auction/Sycamore Investments, LLC has
applied for a forgivable loan for job creation, job training, and infrastructure in the amount of
$100,000.00 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 29, 2019 and was approved on Apri122, 2019 by the
Citizens Advisory Review Committee; and
WHEREAS, Zabuni Specialty Coffee Auction/Sycamore Investments, 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 Zabuni Specialty Coffee Auction/Sycamore Investments, 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 Zabuni
Specialty Coffee Auction/Sycamore Investments, LLC, to provide $100,000.00 in economic
assistance to Zabuni Specialty Coffee Auction/Sycamore Investments, LLC to be used for creating a
new 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 11, 2019.
Attest:
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Aaron id, City Clerk Pro Tem
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Roger G. Steele, Mayor
Approved as to Form tt
June 11, 2019 tt orney