11/22/2022 Resolutions 2022-341�
,
R E S O L U T I O N 2022-341
WHEREAS, the City of Grand Island, Nebraska, a municipal corporation and city of the first
class, has determined it to be desirable to undertake and carry out urban redevelopment projects in
areas of the City which are determined to be substandard and blighted and in need of redevelopment;
and
WHEREAS, the Nebraska Community Development Law, Chapter 18, Article 21, Nebraska
Reissue Revised Statutes of 2007, as amended (the "Act"), prescribes the requirements and
procedures for the planning and implementation of redevelopment projects; and
WHEREAS, the City has previously declared Redevelopment Area No. 28 of the City to be
substandard and blighted and in need of redevelopment pursuant to the Act; and
WHEREAS, the City has previously declared all of Area No. 28 to be extremely blighted
pursuant to the Act; and
WHEREAS, the Community Redevelopment Authority of the City of Grand Island, Nebraska
(the "Authority"), has prepared a Redevelopment Plan pursuant to Section 18-2111 of the Act, and
recommended the Redevelopment Plan to the Planning Commission of the City; and
WHEREAS, the Planning Commission of the City reviewed the Redevelopment Plan
pursuant to the Act and submitted its recommendations, to the City, pursuant to Section 18-2114 of
the Act; and
WHEREAS, following consideration of the recommendations of the Authority to the
Planning Commission, the recommendations of the Planning Commission to the City, and following
the public hearing with respect to the Redevelopment Plan, the City approved the Plan; and
WHEREAS, there has been presented to the City by the Authority for approval a
Redevelopment Project within the Redevelopment Plan and as authorized in the Redevelopment
Plan, such project to be as follows: to redevelop property commercial and residential purposes
including but not limited to necessary costs for site purchase, streets, site work/grading, utilities and
trails along with eligible planning expenses and fees associated with the redevelopment proj ect and
the Authority has documented that such project would not be economically feasible without such aid
as is proposed within the Redevelopment Plan based on the Developer's representation in the rate of
return analysis. All redevelopment activities will occur in Grand Island, Hall County, Nebraska; and
WHEREAS, the Developer's proposed Redevelopment Project within the Redevelopment
Plan states it "will be anchored by a new to market approximately 150,000 SF retailer positioned on
the southern portion of the redevelopment site[,]" which commitment is essential to the Developer's
representations in the rate of return analysis; and
WHEREAS, the Developer's Redevelopment Project within the Redevelopment Plan also
proposes an extra-ordinary pledge of public funds and resources towards the Redevelopment Project
Approved as to Form �
November 22, 2022 � ity Attorney
budget and the City's intended pledge of City funds to the Redevelopment Project is heavily
influenced by the Developer's commitment that the Redevelopment Project will bring said "new to
market ... retailer" to the City, which commitment is essential to the City's participation; and
WHEREAS, in order to protect the interests of the City and its citizens, City Administration
has recommended the incorporation of certain contingencies into the approval of the proposal to
amend the Redevelopment Plan to include the Redevelopment Project that would be anchored by
said "new to market .. . retailer"; and
WHEREAS, the City published notices of a public hearing and mailed notices as required
pursuant to Section 18-2115 of the Act and has, on the date of the Resolution held a public hearing
on the proposal to amend the Redevelopir.ent Plan to include the Redevelopment Project described
above.
NOW, THEREFORE, be it resolved by the City Council of the City of Grand Island,
Nebraska:
1. The Redevelopment Plan of the Ciry approved for Redevelopment Area No. 28 in the city of
Grand Island, Hall County, Nebra� ka, including the Redevelopment Project described above,
is hereby determined to be feasible and in conformity with the general plan for the
development of the City of Grand [sland as a whole and the Redevelopment Plan, including
the Redevelopment Proj ect identif ied above, is in conformity with the legislative declarations
and determinations set forth in th�, Act; and it is hereby found and determined that (a) the
redevelopment project in the plan ,�vould not be economically feasible without the use of t�-
increment financing, (b) the rede,velopment project would not occur in the community
redevelopment area without the use of tax-increment financing, and (c) the costs and benefits
of the redevelopment project, ir�cluding costs and benefits to other affected political
subdivisions, the economy of the community, and the demand for public and private services
have been analyzed by the City ar.d have been found to be in the long-term best interest of
the community impacted by the redevelopment project. The City acknowledges receipt of
notice of intent to enter into the Redevelopment Contract in accordance with Section 18-
2119 of the Act and of the recommendations of the Authority and the Planning Commission.
2. Approval of the Redevelopment F'lan is hereby ratified and reaffirmed, as amended by this
Resolution, and the Authority is r ereby directed to implement the Redevelopment Plan in
accordance with the Act subj ect to City Administration's written approval of the satisfaction
of the following contingencies:
A. Developer shall have closed on the purchase of the land within
Redevelopment Area No. 28 and shall be the owner in fee simple of such
land; and
B. Developer shall ��rovide written documentation of a contract between
Developer and the entity that has been targeted as the "new to market
approximately 150,000 SF retailer positioned on the southern portion of the
redevelopment site" for its participation in the Redevelopment Project.
3. Pursuant to Section 18-2147 of tr.e Act, ad valorem taxes levied upon real property in the
Redevelopment Project included cr authorized in the Plan which is described above shall be
divided, for a period not to exceec. 20 years after the effective date of this provision, which
effective date shall set by the Conununity Redevelopment Authority in the redevelopment
contract as follows:
a. That proportion of the ad valorem tax which is produced by levy at the rate fixed
each year by or for each public body upon the Redevelopment Project Valuation (as
defined in the Act) shall be paid into the funds of each such public body in the same
proportion as all other taxf;s collected by or for the bodies; and
b. That proportion of the ad valorem tax on real property in the Redevelopment Project
in excess of such amount, if any, shall be allocated to, is pledged to, and, when
collected, paid into a speci��l fund of the Authority to pay the principal of, the interest
on, and any premiums due in connection with the bonds, loans, notes or advances of
money to, or indebtedness incurred by, whether funded, refunded, assumed, or
otherwise, such Authority for financing or refinancing, in whole or in part, such
Redevelopment Project. `JVhen such bonds, loans, notes, advances of money, or
indebtedness, including interest and premium due have been paid, the Authority shall
so notify the County Assessor and County Treasurer and all ad valorem taxes upon
real property in such Redevelopment Project shall be paid into the funds of the
respective public bodies.
c. Upon satisfaction of the uontingencies set forth in Section 2 above, the CRA is
authorized and directed to execute and file with the Treasurer and Assessor of Hall
County, Nebraska, an All�>cation Agreement and Notice of Pledge of Taxes with
respect to each Redevelop:nent Project.
4. The City hereby finds and determi�ies that the proposed land uses and building requirements
in the Redevelopment Area are designed with the general purposes of accomplishing, in
accordance with the general plan ::or development of the City, a coordinated, adjusted and
harmonious development of the City and its environs which will, in accordance with present
and future needs, promote health, safety, morals, order, convenience, prosperity; and the
general welfare, as well as efficiency and economy in the process of development; including,
among other things, adequate provision for traffic, vehicular parking, the promotion of safety
from fire, panic, and other danger:�, adequate provision for light and air, the promotion of a
healthful and convenient distribution of population, the provision of adequate transportation,
water, sewerage, and other public utilities, schools, parks, recreation and community
facilities, and other public requirernents, the promotion of sound design and arrangement, the
wise and efficient expenditure oi' public funds, and the prevention of the recurrence of
unsanitary or unsafe dwelling accc>mmodations, or conditions of blight.
5. Pursuant to Section 18-2116 of the Act, the City hereby finds that this project will include at
least 15 new employees and an investment of $1,000,000 for each area and authorizes the
designation of Enhanced Employrnent Area(s) and bonds associated with those area(s).
Adopted by the City Council of the City c►f Grand Island, Nebraska, November 22, 2022
t� ,
Roger Steele, Mayor
Attest:
� c�e. 7�.�AJ�-�_
RaNae Edwards, City Clerk