10/14/2025 Resolutions 2025-351 RESOLUTION 2025-351
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 (Program Administrator), including fiscal management of the Economic
Development Fund ("Fund") and oversight of the Revolving Loan Fund("Loan Fund"); and,
WHEREAS, GIAEDC has proposed a fiscal year 2025-2026 contract amount of
$405,288 to cover administration costs of the Program paid in quarterly installments of$101,322.
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 2025-2026 between the City and GIAEDC for the
administration of the Program in the amount of not to exceed $405,288, payable in quarterly
payments of$101,322 from the Fund at the beginning of each quarter of the fiscal year.
Adopted by the City Council of the City of Grand Island, Nebraska, October 14, 2025.
Roger G. Steele, Mayor
Attest:
Granere, City Clerk