03/08/2005 Resolutions 2005-74
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RES 0 L UTI 0 N 2005-74
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, Love Signs of Grand Island, L.L.C., a limited liability company, has
applied for a forgivable loan in the amount of $42,000 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 ofthe
Economic Development Corporation and was approved on February 15, 2005 by the Citizens
Advisory Review Committee; and
WHEREAS, Love Signs of Grand Island, L.L.C. 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 ofthe City to provide economic development
funding to Love Signs of Grand Island, L.L.C. 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 Love Signs of
Grand Island, L.L.c., to provide $42,000 in economic assistance through a forgivable loan to Love
Signs of Grand Island, L.L.c., to be used for establishing its business at 3030 West Old Highway 30
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, March 8, 2005.
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RaNae Edwards, City Clerk
Approved as to Form
March 3, 2005
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