LB840 Loan Program verbiage (the definition of the Kimball Economic Development Program encompasses the plan in its entirety; including program renewal, funding and the execution of the plan.  “The Program” shall also encompass any project utilizing funds for the purpose of providing: direct or indirect financial assistance to qualifying retail and non-retail businesses; the payment of related costs or expenses; the operations of the revolving loan fund; projects that partner with the Community Development Agency or Forward Kimball Industries or any other formally established ‘development based’ organization and individuals for the demolition, construction and renovation of commercial and residential properties; related administrative expenses including a full time director, support staff and associated administrative expenses; marketing; or any other ancillary project or promotion such as tourism or value added agricultural endeavors.

These funds are derived from the collection of the ½ cent sales tax collection; Community Development Block Grant ‘reuse’ funds; principal and interest receivables; regional, state or federal grants leveraged with local funds; contributions naming the Economic Development Program as the benefactor; balance of funds not yet expended from any original Economic Development Program previously in place; City of Kimball funds that City Council authorizes for utilization for “The Program”; or any other funds either private or public (including bonded or non-bonded) that have been designated for use by the City of Kimball for “The Program”.