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AN ORDINANCE TO ESTABLISH A JONESBORO ECONOMIC DEVELOPMENT GRANT PROGRAM ESTABLISHING OBJECTIVES, ELIGIBILITY AND PROCEDURES FOR APPLICATIONS AND AWARDS, AN FOR OTHER PURPOSES
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BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
SECTION 1: There is hereby established the Jonesboro Economic Development Grant Program, to be administered by the Mayor or his designee, appointed by him with the advice and consent of the City Council.
SECTION 2: It shall be the purpose of this Program, established under the provisions of Act 405 of the General Assembly for the State of Arkansas for the year 1989, to award grants to certain non-profit corporations to be used by the grantee in aiding or assisting or otherwise promoting economic development throughout the City of Jonesboro and an area adjacent thereto. Economic development is any activity related to the encouragement of the location, relocation, creation, or development of a business, industry, manufacturing facility, transportation facility, or other economic unit which creates jobs, employs people, or generates economic activity.
SECTION 3: Funds available for this Program shall be such as may form time to time be appropriated by the City Council, and no awards shall be made unless funds are on hand to satisfy the award.
SECTION 4: Recipients eligible for grants shall include, but not be limited to, local industrial development corporations, local Chamber of Commerce, or other non-profit corporation having as its primary corporate function and activity the promotion and support of economic development within this city of any portion and support of economic development within this city or any portion thereof, under the definition of economic development in Section 2 above.
SECTION 5: The Administrator shall establish and provide application forms to be used by all applicants. Applicants shall be required to furnish information on the following, along with any other informat...
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