12/15/2009 Resolutions 2009-327RESOLUTION 2009-327
WHEREAS, on July 22, 2003, 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, Structured Solutions, Inc. has applied for a forgivable loan in the amount
of $600,000.00 towards job incentives 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 and was approved on December 8, 2009 by the Citizens
Advisory Review Committee; and
WHEREAS, Structured Solutions, Inc. 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 Structured Solutions, Inc. as provided by the Grand Island Economic Development
Program.
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 Structured
Solutions, Inc., to provide $600,000.00 in economic assistance to Structured Solutions, Inc., to be
used for developing its business in Grand Island 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, December 15, 2009.
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Margare ornady, Mayor
Attest:
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RaNae Edwards, City Clerk
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Approved as to Form A
December 14, 2009 ~ CityAttorney