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Council extends Wholestone Farms LB840 timeline and adjusts employee target; 7–1 approval
Summary
Council approved an amendment to Wholestone Farms' LB 8-40 loan agreement extending the final measurement date to February 2029 and modifying the employee-creation target (adjusted to 300 full-time employees). The local review teams recommended the amendment; council approved 7–1 after discussing job counts and local investment.
The council approved an amendment to the LB 8-40 loan agreement with Wholestone Farms, adjusting the contract term and employee creation metrics.
Angie Olsen said Wholestone originally received a $1,300,000 LB 8-40 award in 2021 and that three of the five years have already qualified for forgiveness under the original schedule, leaving a remaining balance of $520,000. The company requested an amendment to extend the measurement period to 2029 and to set employee creation expectations at 300 full-time positions, citing construction costs and strategic investments (including an associated investment in an Iowa facility). Staff and both advisory committees recommended the amendment based on the company’s continuing local investment (including cold storage) and job retention considerations. Council approved the amendment, 7–1.
Council members debated the trade-offs between job counts and overall investment but noted the company’s significant capital investments and that most employees live locally; staff said the company remains eligible for the same amount under the city’s scoring matrix despite the requested changes.
