06/25/2024 Resolutions 2024-152 RESOLUTION 2024-152
WHEREAS,the City of Grand Island and the Grand Island Area Economic Development
Corporation ("GIAEDC") entered into an Administration Agreement on February 3, 2024; and
WHEREAS, the City agreed to provide GIAEDC an annual Administrative Overhead
Payment of $272,900 to encompass all expenses and services not specifically delineated as a
Reimbursable Expense; and
WHEREAS,GIAEDC has incurred expenses over and above the annual Administrative
Overhead amount that do not qualify as Reimbursable Expenses; and
WHEREAS,the City and GIAEDC have negotiated the incurred expenses and agreed to
increase the annual Administrative Overhead Payment by $40,240; and
WHEREAS,after the increase,the total annual Administrative Overhead payment will be
$313,140; and
WHEREAS,Amendment 1 to the Administration Agreement will be increase the Annual
Overhead payment.
NOW,THEREFORE,BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE
CITY OF GRAND ISLAND, NEBRASKA, that Amendment 1 to the Administrative Agreement
increasing the annual Administrative Overhead Payment by $40,240 for a total of$313,140 be hereby
approved.
BE IT FURTHER RESOLVED that the Mayor of the City of Grand Island is hereby
authorized to sign all documents to effectuate this Agreement.
Adopted by the City Council of the City of Grand Island, Nebraska, June 25, 2024.
Roge . teel , Mayor
Attest:
5,6; &7*(-..-N-e_
Jl�l Granere, City Clerk