HomeMy WebLinkAboutRESOLUTION 1995-37Suggested by:
SUBSTITUTE
City Cou"oil
C~XTY OF KBH~X
RBSOLU~XON NO. gs-3?
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, THAT
THE CITY COUNCIL EXPRESSES ITS INTENTION, SUBJECT TO
APPROPRIATION OF MONEY, TO CONTRIBUTE $40,000 TO THE ECONOMIC
DEVELOPMENT DISTRICT, INC. (EDD) FOR THE ACQUISITION OF THE ARCO
WAREHOUSE AND OFFICE COMPLEX IN KENAI.
WHEREAS, the EDD is interested in purchasing the ARCO warehouse
and office complex in Kenai for their own offfces as well as for
use by the Kenai Peninsula Business Innovatfon Center (small
business incubator); and
WHEREAS, the Kenai Peninsula Borough has appropriated $100,000 as
a matching grant to the EDD for the purpose of acquiring the ARCO
Office complex in Kenai, and authorized the Mayor to execute an
agreement and disburse funds; and
WHEREAS, the goal of the EDD is to foster economic growth by
developing and implementing a borough-wide economic development
program which is designed to create employment opportunities fOr
borough residents and complement communfty and individual
development initiatives; and
WHEREAS, the development of the small business incubator will
benefit all Peninsula communities through generating clients to
diversify the tax base, bringing a return to those co~unities;
and
WHEREAS, the Kenai City Council is interested in encouraging
small business entrepreneurship.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
KENAI, that the City Council expresses its intention, subject to
appropriation of money, to contribute $40,000 to the Economic
Development District, Inc. for the acquisition of the Arco
warehouse and office complex in Kenai and in the spirit of
partnership with EDD we hope to encourage our sister cities of
Soldotna, Homer and Seward to share in this acquisition at
$20,000 each.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, AL~%'his ~9th day
ATTJEST: ~ y~LLIAMS-,
Carol L, Fr~as, City Clerk . -.