12/19/2023 Resolutions 2023-332RESOLUTION 2023-332
WHEREAS, the City of Grand Island ("City") and Grand Island Area Economic
Development Corporation ("GIAEDC") desire to cooperate with each other in order to deliver the
Economic Development Program ("Program") authorized by Chapter 38 of the Grand Island City
Code, the State by and through the Local Option Municipal Economic Development Act (Neb. Rev.
Stat. 18-2701 et seq), and the electorate of the City upon their approval of the City's Economic
Development Plan ("Plan") during the 2022 election as codified in Ordinance Number 9908; and,
WHEREAS, the Plan, as adopted, incorporates the assistance of GIAEDC in
administering the City's LB840 Economic Development Activities ("Program") on behalf of the City
and places certain Program administration requirements with the City, by and through the City
Administrator including fiscal management of the Economic Development Fund ("Fund") and
oversight of the Revolving Loan Fund ("Loan Fund"); and,
WHEREAS, an agreement is necessary to set forth a framework by which the City
can distribute portions of the appropriated Fund to GIAEDC for administrative overhead necessary to
administer the program, as well as setting forth agreements for reimbursement of marketing and
promotional expenses during the 2023-2024 fiscal year; and,
WHEREAS, the City Council, by and through its adoption of the 2023-2024 Budget,
has authorized expenditures for the costs of administration, marketing and promotional expenses in
an amount not to exceed $425,000 payable from the Fund; and,
WHEREAS, GIAEDC has proposed a contract amount of $272,900 to cover the costs
of administering the Program for the City; and,
WHEREAS, GIAEDC anticipates submitting reimbursement requests to the City for
marketing and promotional expenses of the Program in an amount not to exceed $152,100, which
reimbursements will be payable upon request to the Program Administrator with appropriate receipts
and Program purpose identification.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Mayor is hereby authorized to enter into
and execute a contract for fiscal year 2023-2024 between the City and Grand Island Area Economic
Development Corporation for the administration of the Program and in the amount of $272,900,
payable quarterly from the Fund at the beginning of each quarter of the fiscal year; and,
BE IT FURTHER RESOLVED, that the Mayor and City staff are hereby authorized
to make reimbursement payments from the Fund to GIAEDC during fiscal year 2023 — 2024 in an
additional amount not to exceed the sum of $152,100, upon the submittal of appropriate receipts and
Program expense documentation for marketing and promotional expenses associated with the
implementation of the City's LB840 Economic Development Activities as approved by the voters.
Adopted by the City Council of the City of Grand Island, Nebraska, December 19, 2023.
Rog . Steele, Mayor
Attest:
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Granere, City Clerk
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