File #: RES-12:002    Version: 1 Name: Grant funding for Economic Development Administration for Nordex
Type: Resolution Status: Passed
File created: 1/3/2012 In control: Finance & Administration Council Committee
On agenda: Final action: 2/7/2012
Title: A RESOLUTION OF THE CITY COUNCIL FOR THE CITY OF JONESBORO TO ACCEPT GRANT FUNDS FROM THE ECONOMIC DEVELOPMENT ADMINISTRATION, FOR NORDEX, USA, ECONOMIC DEVELOPMENT PROJECT.
Sponsors: Grants, Finance
Indexes: Grant
Attachments: 1. EDA Grant Agreement for Nordex Project
Related files: CON-490

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A RESOLUTION OF THE CITY COUNCIL FOR THE CITY OF JONESBORO TO ACCEPT GRANT FUNDS FROM THE ECONOMIC DEVELOPMENT ADMINISTRATION, FOR NORDEX, USA, ECONOMIC DEVELOPMENT PROJECT.

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WHEREAS, the City of Jonesboro was awarded a 50/50 match grant in the amount of $3,200,000;

 

WHEREAS, the City of Jonesboro has been awarded a $2,000,0000 quick action closing fund from the Arkansas Economic Development Commission, of which the 50% match for the above mentioned grant will come; and

 

WHEREAS, resolution 09:121 was passed on August 18, 2009 by City Council to accept the $2,000,000 from AEDC; and

 

WHEREAS, this funding will be utilized for rail spur improvements and road construction related to the Nordex construction project; and

 

WHEREAS, funding for this award is included in current budget appropriations for the City of Jonesboro.

 

BE IT RESOLVED, by the City Council of the City of Jonesboro, Arkansas that:

 

SECTION 1:                     The City of Jonesboro accepts the Economic Development Administration Grant in the amount of $3,200,000 to assist with rail spur improvements and road construction related to the Nordex construction project.

 

SECTION 2:                     The Mayor and City Clerk are hereby authorized to execute and accept such documents as are necessary to effectuate this agreement.

 

PASSED AND APPROVED this 7th day of February, 2012.