02/11/2025 Resolutions 2025-54 RESOLUTION 2025-54
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, Zabuni Specialty Coffee Auction/Sycamore Investments, LLC has
applied for a forgivable loan for job creation, job training, and infrastructure in the amount of
$100,000.00 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 March 29,2019 and was approved on April 22,2019 by the
Citizens Advisory Review Committee; and
WHEREAS,Zabuni Specialty Coffee Auction/Sycamore Investments,LLC 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 Zabuni Specialty Coffee Auction/Sycamore Investments,LLC as provided by the Grand
Island Economic Development Program.
WHEREAS, benchmarks were unsuccessful due to the impact of the COVID-19
pandemic; and
WHEREAS, the amendment reduces the terms of the original agreement, and
benchmarks will be limited to those successfully completed prior to the pandemic,and will be closed
as fully performed.
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 Zabuni
Specialty Coffee Auction/Sycamore Investments,LLC,will be considered closed as fully performed
and 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, February 11, 2025.
Roger G. Steele, Mayor
Attest:
Jilanere, City Clerk
- 2 -