05/7/2024 Resolutions 2024-120 RESOLUTION 2024-120
WHEREAS, the City of Grand Island Economic Development Program (the
"Program") is 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 (the "Plan")
during the 2022 election as codified in Ordinance No. 9908; and
WHEREAS, an application was filed by Vermeer Equipment of Nebraska Inc.,dba
Vermeer High Plains, requesting a grant in an amount not to exceed $525,000.00 from the City of
Grand Island's Economic Development funds on a reimbursement basis for the costs of
constructing public works improvements consisting of water,wastewater and a public street in the
southwest corner of Platte Valley Industrial Park-East; and
WHEREAS, the Plan authorizes the use of Program funds for public works
improvements and/or purchase of fixed assets,including potential land grants or real estate options
essential to the location or expansion of a qualifying business or for capital improvements when
tied to job creation criteria or when critical to retention of jobs of a major employer within the
community; and
WHEREAS,the Plan further authorizes the making of grants or loans with Program
funds to specified Qualifying Businesses, including"any corporation,partnership, limited liability
company or sole proprietorship that derives its principal source of income from any of the
following: 1. The manufacturer of articles of commerce; 3. The processing, storage, transport, or
sale of goods or commodities which are sold or traded in interstate commerce; 4. The sale of
services in interstate commerce; and;
WHEREAS,the Plan further requires that a Qualify Business be located within City
limits or the two mile planning and zoning jurisdiction of the City; and that any Qualifying
Business that is a recipient of Plan funding and which employs people and carries on activities in
more than one city in Nebraska maintain its average employment level in the other cities for the
first two years after the start of its participation in the Program; and
WHEREAS, the City Council finds that the application of Vermeer High Plains
satisfies all requirements of the Program and the requested use of Plan funding for public works
infrastructure construction in support of the construction of a Qualifying Business is an eligible
use of Plan funds; and
WHEREAS, the Plan Administrator recommends approval of the grant application
and use of Plan funds subject to the terms and conditions of the Plan,the grant agreement and the
Act.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL
OF THE CITY OF GRAND ISLAND, NEBRASKA, that the City of Grand Island hereby
approves the award of an Economic Development Plan grant in the amount of not to exceed
$525,000.00 to Vermeer Equipment of Nebraska,Inc. dba Vermeer High Plains,on a reimbursable
basis for eligible activities for the purposes set forth in the Act.
BE IT FURTHER RESOLVED, that the Economic Development Plan
I Administrator Laura McAloon, the City Finance Director, and Grand Island Area Economic
Development Corporation are hereby authorized to take all actions and execute all documents
necessary to carry out the intent of this resolution.
Adopted by the City Council of the City of Grand Island,Nebraska, ay 7, 2024.
Ro . Ste e, Mayor
Attest:
J Granere, City Clerk
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