07/27/2010 Resolutions 2010-207RESOLUTION 2010-207
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, Grand Island Area Economic Development Corporation (GIAEDC) has
applied for a forgivable loan in the amount of $575,000.00 towards Public Works Improvements at
the Platte Valley Industrial Park East 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 July 20, 2010 by the Citizens Advisory
Review Committee; and
WHEREAS, it is in the best interests of the City to provide economic development
funding to the Grand Island Area Economic Development Corporation 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 and the Grand Island Area Economic Development Corporation to provide
$575,000.00 in economic assistance to Grand Island Area Economic Development Corporation, to be
used for Public Works Improvements at the Platte Valley Industrial Park East 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, July 27, 2010.
Margar Hornady, ayor
Attest:
RaNae Edwards, City Clerk
Approved as to Form o
July 26, 2010 ~ City Attorney