11/26/2019 Resolutions 2019-354RESOLUTION 2019-354
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, Premium Plant Services, Inc. has applied for a forgivable loan for job
creation in the amount of $102,000.00 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 September 19, 2019 and was approved on September 26,
2019 by the Citizens Advisory Review Committee; and
WHEREAS, Premium Plant Services, 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 Premium Plant Services, 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 Premium
Plant Services, Inc., to provide $102,000.00 in economic assistance to Premium Plant Services, Inc.
to be used for job creation 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, November 26, 2019.
Attest:
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RaNae Edwards, City Clerk
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r G. Steele, Mayor
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Approved as to Form tt�`,
November 25, 2019 tt Ci Attorney