08/13/2019 Resolutions 2019-243I
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RESOLUTION 2019-243
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, Amur Equipment Finance, Inc. has applied for a fargivable loan for job
creation, job training, and infrastructure in the amount of $160,000.00 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 11, 2019 and was approved on July 31, 2019 by the
Citizens Advisory Review Committee; and
WHEREAS Amur Equipment Finance, 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 Amur Equipment Finance, 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 Amur
Equipment Finance, Inc., to provide $160,000.00 in economic assistance to Amur Equipment
Finance, Inc. to be used for expanding their 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, Au st 13, 2019.
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Roger G. Steele, Mayor
Attest:
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RaNae Edwards, City Clerk
Approved as to Form �
August 12, 2019 tt City Attomey