06-08-2016 Community Redevelopment Authority Regular Meeting Packet
Community Redevelopment
Authority (CRA)
Wednesday, June 8, 2016
Regular Meeting Packet
Board Members:
Tom Gdowski - Chairman
Glen Murray – Vice Chairman
Sue Pirnie
Glenn Wilson
Krae Dutoit
4:00 PM
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Call to Order
Roll Call
A - SUBMITTAL OF REQUESTS FOR FUTURE ITEMS
Individuals who have appropriate items for City Council consideration should complete the Request for
Future Agenda Items form located at the Information Booth. If the issue can be handled administratively
without Council action, notification will be provided. If the item is scheduled for a meeting or study
session, notification of the date will be given.
B - RESERVE TIME TO SPEAK ON AGENDA ITEMS
This is an opportunity for individuals wishing to provide input on any of tonight's agenda items to reserve
time to speak. Please come forward, state your name and address, and the Agenda topic on which you will
be speaking.
DIRECTOR COMMUNICATION
This is an opportunity for the Director to comment on current events, activities, and issues of interest to
the commission.
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Community Redevelopment
Authority (CRA)
Wednesday, June 8, 2016
Regular Meeting
Item A1
Agenda
Staff Contact: Chad Nabity
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AGENDA
Wednesday, June 8, 2016
4:00 p.m.
Grand Island City Hall
Open Meetings Notifications
1.Call to Order.Barry Sandstrom
This is a public meeting subject to the open meetings laws of the State of Nebraska. The
requirements for an open meeting are posted on the wall in this room and anyone that wants to
find out what those are is welcome to read through them.
The CRA may vote to go into Closed Session on any Agenda Item as allowed by State Law.
2.Approval of Minutes of May 11, 2016 Meeting.
3.Approval of Financial Reports.
4.Approval of Bills.
5.Review of Committed Projects and CRA Properties.
6.Consideration of a Resolution to forward a Redevelopment Plan Amendment to the Hall
County Regional Planning Commission for East Park on Stuhr, Grand Island, NE.
7.Consideration of a Resolution of intent to enter into a Site Specific Redevelopment Contract &
Approval of related actions 30 day notice to City Council for East Park on Stuhr, Grand Island,
NE.
8.Consideration of a Resolution to forward a Redevelopment Plan Amendment to the Hall
County Regional Planning Commission for Wild Bills Fun Center, Grand Island, NE.
9.Consideration of a Resolution of intent to enter into a Site Specific Redevelopment Contract &
Approval of related actions 30 day notice to City Council for Wild Bills Fun Center, Grand
Island, NE.
10.Approve Resolution to Purchase/Sell Real Estate.
11.Directors Report. Update on Talon Apartments & impact on former Desert Rose property.
12.Adjournment
Next Meeting July 13, 2016
The CRA may go into closed session for any agenda item as allowed by state law.
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Community Redevelopment
Authority (CRA)
Wednesday, June 8, 2016
Regular Meeting
Item B1
Meeting Minutes
Staff Contact: Chad Nabity
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OFFICIAL PROCEEDINGS
MINUTES OF
COMMUNITY REDEVELOPMENT AUTHORITY
MEETING OF
May 11, 2016
Pursuant to due call and notice thereof, a Regular Meeting of the Community
Redevelopment Authority of the City of Grand Island, Nebraska was conducted on May
11, 2016 at City Hall 100 E First Street. Notice of the meeting was given in the May 4,
2016 Grand Island Independent.
1.CALL TO ORDER. Tom Gdowski called the meeting to order at 4:00 p.m. The
following members were present: Sue Pirnie, Krae Dutoit, Glenn Wilson and Glen
Murray. Also present were; Director, Chad Nabity; Admin Assistant, Rose
Rhoads; Assistant Finance Director, Billy Clingman; Accountant, Brian Schultz;
Legal Counsel, Duane Burns; City Administrator, Marlan Ferguson; Council
Liaison, Vaughn Minton, Bruce Shreiner, Ron Deupe, Mark Otto and Janet Placke.
Gdowski stated this was a public meeting subject to the open meeting laws of the
State of Nebraska. He noted that the requirements for an open meeting were
posted on the wall easily accessible to anyone who would like to read through
them.
2.APPROVAL OF MINUTES. A motion for approval of Minutes for the April 13,
2016 meeting was made by Wilson and seconded by Pirnie. Upon roll call vote all
present voted aye. Motion carried unanimously.
3. APPROVAL OF FINANCIAL REPORTS. Clingman reviewed the financial
reports for the period of April 1, 2016 through April 30, 2016. A motion was
made by Murray and seconded by Dutoit to approve the financial reports. Upon
roll call vote all present voted aye. Motion carried unanimously.
4. APPROVAL OF BILLS. The bills were reviewed. A motion was made by Pirnie
and seconded by Wilson to approve the bills in the amount of $109,130.92. Upon
roll call vote all present voted aye. Motion carried unanimously to approve the
payment of bills totaling $109,130.92.
5.REVIEW OF COMMITTED PROJECTS & CRA PROPERTY.
Nabity reviewed the Committed Projects.
6. CONSIDERATION OF RESOLUTION 213.
Consideration of a Resolution to forward a Site Specific redevelopment plan to the
Hall County Regional Planning Commission for Talon Apartments, Lot 3
Vanosdall 2nd Sub., Grand Island, NE. The CRA received a TIF application and
staff has prepared a Site Specific redevelopment plan (the “Plan”), for
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redevelopment of an area within city limits of the City of Grand Island, Hall
County, NE. Bruce Sheriner, Mark Otto and Ron DuPue spoke in favor of the TIF
project. A motion was made by Murray to approve Resolution 213 motion was
seconded by Pirnie. Upon roll call vote all present voted aye. Motion carried
unanimously to approve Resolution 213.
7. CONSIDERATION OF RESOLUTION 214.
Consideration of a Resolution of intent to enter into a Site Specific Redevelopment
Contract & Approval of related actions 30 day notice to City Council for Talon
Apartments, Lot 3, Vanosdall 2nd Sub., Grand Island, NE. A motion was made by
Murray to approve Resolution 214 the motion was seconded by Pirnie. Upon roll
call vote all present voted aye. Motion carried unanimously to approve Resolution
214.
8. DISCUSSION CONCERNING PURCHASE/SALE OF REAL ESTATE. No
discussion.
9. APPROVE RESOLUTION OR RESOLUTIONS TO PURCHASE TO
PRUCHASE/SELL REAL ESTATE. No resolutions.
10.DIRECTORS REPORT.
11.ADJOURNMENT. Meeting was adjourned at 4:43p.m.
The next meeting is scheduled for June 8, 2016.
Respectfully submitted
Chad Nabity
Director
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Community Redevelopment
Authority (CRA)
Wednesday, June 8, 2016
Regular Meeting
Item C1
Financials
Staff Contact: Chad Nabity
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Community Redevelopment
Authority (CRA)
Wednesday, June 8, 2016
Regular Meeting
Item D1
Bills
Staff Contact: Chad Nabity
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8-Jun-16
TO: Community Redevelopment Authority Board Members
FROM: Chad Nabity, Planning Department Director
RE: Bills Submitted for Payment
The following bills have been submitted to the Community
Redevelopment Authority Treasurer for preparation of payment.
City of Grand Island
Administration Fees $ 3,610.92
Accounting
Officenet Inc.
Postage $ 15.58
Lawnscape mowing 408 E 2nd $ 70.00
Grand Island Independent $ 16.01
Wells Fargo Bank Fees $ 45.50
Wells Fargo Bank Fees $ 7.00
TIF Pass thrus
Tower 217 $ 25.39
Mainstays $ 529.32
Copper Creek 2 $ 44,454.08
Wenn Housing $ 2,090.14
Todd Enck Carey St $ 3,797.32
EIG $ 1,083.85
Auto One $ 245.10
Habitat $ 89.03
Todd Enck Kimball $ 1,325.81
Chief $ 806.08
Copper Creek 1 $ 29,485.52
Stratford $ 11,945.38
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Baker $ 75.01
Gordman $ 9,370.52
Token Ruby $ 63.69
Ken Ray $ 41,372.58
Pharmacy $ 5,750.00
John Schulte $ 107.48
Todd Enck Darr $ 139.27
South Pointe $ 43,220.57
Casey's $ 190.12
CRA Poplar $ 1,483.29
Southeast Crossing $ 6,223.96
Geddes Apt $ 13,915.80
Girard $ 208.81
Bruns $ 288.77
Walnut $ 37,235.90
Gental Dental $ 2,101.00
Procon $ 9,580.96
Mayer, Burns & Koenig Legal Services $ 150.00
Total:
$ 271,119.76
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Community Redevelopment
Authority (CRA)
Wednesday, June 8, 2016
Regular Meeting
Item E1
Committed Projects
Staff Contact: Chad Nabity
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Community Redevelopment
Authority (CRA)
Wednesday, June 8, 2016
Regular Meeting
Item H1
TIF Request - East Park on Stuhr
Staff Contact: Chad Nabity
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Redevelopment Plan Amendment
Grand Island CRA Area 1
June 2016
The Community Redevelopment Authority (CRA) of the City of Grand Island
intends to adopt a Redevelopment Plan Amendment for Area 1 within the city,
pursuant to the Nebraska Community Development Law (the “Act”) and provide
for the financing of a specific project in Area 1.
Executive Summary:
Project Description
THE REDEVELOPMENT OF PROPERTY LOCATED NORTH OF NORTH
BISMARK ROAD AND BETWEEN CHERRY STREET AND STUHR ROAD
(IMMEDIATELY EAST OF THE EXISTING CHERRY PARK APARTMENTS) FOR
USE THE CONSTRUCTION AND DEVELOPEMNT OF UP TO 88 APARTMENTS
IN 7 BUILDINGS INCLUDING NECESSARY INFRASTRUCTURE AND GRADING
IMPROVEMENTS.
The use of Tax Increment Financing to aid in redevelopment expenses associated with
necessary and required infrastructure (sewer, water, storm drainage, paving, landscaping,
etc.), grading improvements and site preparation, and planning and legal costs to
redevelop the proposed East Park on Stuhr Subdivision in the City of Grand Island. The
use of Tax Increment Financing is an integral part of the development plan and necessary
to make this project affordable. The project will result in the construction of 88
apartments in southeast Grand Island. Phases 1 and 2 of this project were completed
using TIF,TIF; the first two phases are more than 15 years old and fully on the tax rolls.
Hoppe Homes has owned the property for more than 20 years and has had plans to build
apartments at this location since that original purchase. This project was originally
planned with the expectation that Tax Increment Financing (TIF) would be available to
offset the cost of necessary grading and infrastructure improvements to develop the
property. The property is currently vacant. The developer is responsible for and has
provided evidence that they can secure adequate debt financing to cover the costs
associated with the site work and development if TIF is available to assist with project
financing. The Grand Island Community Redevelopment Authority (CRA) intends to
pledge the ad valorem taxes generated over the 15 year period towards the allowable
costs and associated financing for the acquisition and site work.
TAX INCREMENT FINANCING TO PAY FOR THE REHABILITATION OF THE
PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY:
Property Description (the “Redevelopment Project Area”)
Legal Descriptions: _
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To be provided____________________________________________in Grand Island,
Hall County, Nebraska.
Existing Land Use and Subject Property
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This plan amendment provides for the issuance TIF Notes, the proceeds of which
will be granted to the Redeveloper. The tax increment will be captured for up to 15
tax years the payments for which become delinquent in years 2018 through 2032
inclusive or as otherwise dictated by the contract.
The real property ad valorem taxes on the current valuation will continue to be paid
to the normal taxing entities. The increase will come from the construction of
apartment buildings at this location. Apartments were permitted and anticipated
with the rezoning of this property to RD-Residential Development Zone in the mid
1990’s. The developers have submitted a request for approval of a revised
development plan for the existing RD Residential Development zone.
Statutory Pledge of Taxes.
In accordance with Section 18-2147 of the Act and the terms of the Resolution, the
Authority hereby provides that any ad valorem tax on any Lot or Lots located in the
Redevelopment Project Area as for the benefit of any public body be divided for a period
of fifteen years after the effective date of this provision as set forth in the Redevelopment
Contract related to the Redevelopment Project Area, or the resolution providing for the
issuance of the TIF Note, consistent with this Redevelopment Plan Amendment. Said
taxes shall be divided as follows:
a. That portion 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 shall
be paid into the funds, of each such public body in the same proportion as all other taxes
collected by or for the bodies; and
b. That portion of the ad valorem tax on real property in the
redevelopment project in excess of such amount, if any, shall be allocated to and, when
collected, paid into a special 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 on money
to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such
Authority for financing or refinancing, in whole or in part, a redevelopment project.
When 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.
Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged
to the repayment of loans or advances of money, or the incurring of any indebtedness,
whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in
whole or in part, the redevelopment project, including the payment of the principal of,
premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness.
Redevelopment Plan Amendment Complies with the Act:
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The Community Development Law requires that a Redevelopment Plan and Project
consider and comply with a number of requirements. This Plan Amendment meets the
statutory qualifications as set forth below.
1. The Redevelopment Project Area has been declared blighted and substandard by
action of the Grand Island City Council on December 19, 2000.[§18-2109] Such
declaration was made after a public hearing with full compliance with the public
notice requirements of §18-2115 of the Act.
2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13)
(a) and §18-2110]
Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan
and project are consistent with the Comprehensive Plan, in that no changes in the
Comprehensive Plan elements are intended. This plan merely provides funding for the
developer to extend utilities and infrastructure and appropriately grade the property for
uses permitted on this property as defined by the current and effective zoning regulations.
3. The Redevelopment Plan must be sufficiently complete to address the following
items: [§18-2103(13) (b)]
a. Land Acquisition:
This property is currently owned by the proposed developer. There is no proposed
acquisition by the authority.
b. Demolition and Removal of Structures:
There are no structures on this property that need to be demolished or removed.
c. Future Land Use Plan
See the attached map from the 2004 Grand Island Comprehensive Plan. The area
immediately to the north this property is planned for public uses and is owned by the
Grand Island Utilities Department. The property to the south is planned and zoned for
residential development, commercial development, and recreational development, The
Super Bowl fun center is located there along with a couple of single family homes on
large lots. The property to the west is the first two phases of this residential development
and was developed in the mid to late 1990’s. This property is vacant and planned for
commercialfor commercial development that would allow a density of 42+ dwelling units
per acre. [§18-2103(b) and §18-2111] The attached map also is an accurate site plan of
the area after redevelopment. [§18-2111(5)]
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City of Grand Island Future Land Use Map
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d. Changes to zoning, street layouts and grades or building codes or ordinances or
other Planning changes.
The area is zoned RD-Residential Development Zone. Apartment development at up to
42 dwelling units per acre is permitted within this zoning district. The developers are
seeking to change the configuration of the development from what was proposed almost
20 years ago. An application to amend the development plan for this property has been
filed. The RD Residential Development zone is a planned development that is commonly
used for apartment complexes within the Grand Island Zoning jurisdiction. Internal
streets and drives will be constructed to support the development of this property, they
will provide a connection between the first phases of this development and Stuhr Road.
No changes are anticipated in building codes or ordinances. Nor are any other planning
changes contemplated. [§18-2103(b) and §18-2111]
e. Site Coverage and Intensity of Use
The developer is proposing to build on the site within the constraints allowed by both the
current and the proposed zoning districts. Estimated building coverage of the 4.92acre
site is 42,500square feet well within the 30% coverage allowed in an RD zoning district.
[§18-2103(b) and §18-2111]
f. Additional Public Facilities or Utilities
Water and sanitary are available to support this development. The developer will be
responsible for extension of water and sanitary sewer necessary to serve this site.
Development and extension of this infrastructure is one of the primary challenges for this
site. There is currently a dead end main at the east side of the Cherry Park apartments.
This proposal would extend that main to Stuhr Road and complete a looped system.
Sanitary sewer is proposed to be extended from the existing development. A lift station
will be needed to support this development.
Electric utilities will be extended throughout the site to support the proposed
development.
No other city utilities would be impacted by the development.
[§18-2103(b) and §18-2111]
4. The Act requires a Redevelopment Plan provide for relocation of individuals and
families displaced as a result of plan implementation. This property has been
unused for several years, no relocation is contemplated or necessary. [§18-2103.02]
5. No member of the Authority, nor any employee thereof holds any interest in any
property in this Redevelopment Project Area. [§18-2106] No members of the
authority or staff of the CRA havestaff of the CRA has any interest in this property.
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6. Section 18-2114 of the Act requires that the Authority consider:
a. Method and cost of acquisition and preparation for redevelopment and estimated
proceeds from disposal to redevelopers.
Grading, storm water management, utility connections and extensions, publicly required
landscaping and similar site improvements are estimated at $855,860. Planning related
expenses for Architecture, Engineering, Planning services of $142,600 and are included
as a TIF eligible expense. Utility upgrades for onsite geothermal systems $519,200 are
included as a TIF eligible utility expense. Public amenities for residents and neighbors
including a park, dog runs, basketball court and soccer field $106,000. Legal, Developer
and Audit Fees including a reimbursement to the City and the CRA of $15,000 are
included as TIF eligible expense. The total of eligible expenses for this project is
$1,638,660. Acquisition cost of $88,000 could also be, but is not, for purposes of this
plan amendment, considered an eligible expense bringing the total of eligible expenses to
$1,726,660.
No property will be transferred to redevelopers by the Authority. The developer will
provide and secure all necessary financing.
b. Statement of proposed method of financing the redevelopment project.
The developer will provide all necessary financing for the project except the financing
provided by the issuance of the TIF Indebtedness. The Authority will assist the project
by granting the sum of $1,495,000 from the proceeds of the TIF Indebtedness issued by
the Authority. This indebtedness will be repaid from the Tax Increment Revenues
generated from the project. TIF revenues shall be made available to repay the original
debt and associated interest according to the approved contract.
c. Statement of feasible method of relocating displaced families.
No families will be displaced as a result of this plan. The property is vacant.
7. Section 18-2113 of the Act requires:
Prior to recommending a redevelopment plan to the governing body for approval, an
authority shall consider whether the proposed land uses and building requirements in the
redevelopment project area are designed with the general purpose of accomplishing, in
conformance with the general plan, 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 dangers, adequate provision for light and air, the promotion of the
healthful and convenient distribution of population, the provision of adequate
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transportation, water, sewerage, and other public utilities, schools, parks, recreational and
community facilities, and other public requirements, the promotion of sound design and
arrangement, the wise and efficient expenditure of public funds, and the prevention of the
recurrence of insanitary or unsafe dwelling accommodations or conditions of blight.
The Authority has considered these elements in proposing this Plan Amendment. This
amendment, in and of itself will promote consistency with the Comprehensive Plan. This
will have the intended result of preventing recurring elements of blighted conditions
including vacant and underutilized building sites.
8. Time Frame for Development
Development of this project is anticipated to be completed between September 2016 and
December of 2017. The developers anticipate building all seven buildings (88 units) in a
within 15 months of approval. Excess valuation should be available for this project for 15
years on each phase of this project beginning with the 2018 tax year.
9. Justification of Project
This space has been vacant and underutilized for a number of years and has not sold or
redeveloped even with aggressive marketing by the owner. The original 3rd phase of
Cherry Park was approved with the initial development in 1995. The 2014 housing
market study for the City of Grand Island shows a need of an additional 1700 housing
units between 2014 and 2019. These 88 units at this location would help meet that goal
and spread the housing developed around the city.
10. Cost Benefit Analysis Section 18-2113 of the Act, further requires the Authority
conduct a cost benefit analysis of the plan amendment in the event that Tax Increment
Financing will be used. This analysis must address specific statutory issues.
As authorized in the Nebraska Community Development Law, §18-2147, Neb. Rev. Stat.
(2012), the City of Grand Island has analyzed the costs and benefits of the proposed
Redevelopment Project, including:
Project Sources and Uses. Approximately $1,495,000 in public funds from tax
increment financing provided by the Grand Island Community Redevelopment Authority
will be required to complete the project. This investment by the Authority will leverage
$7,897,340 in private sector financing; a private investment of $5.28 for every TIF and
grant dollar investment.1 See the Attached Source and Uses of Funds Chart
1 This does not include any investment in personal property at this time.
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Use of Funds.
Description TIF Funds Private Funds Total
Site Acquisition $88,000 $88,000
Site Preparation
/Utilities/Streets/Drainage
$712,200 $143,660 $855,860
On Site Utilities $519,200 $519,200
Public Amenities $106,000 $106,000
Legal, Finance and Audit $15,000 $85,000 $100,000
Building Costs $6,718,909 $6,718,909
Arch/Eng (Planning)$142,600 $142,600
Contingencies $380,000 $380,000
TOTALS $1,495,000 $7,415,569 $8,910,569
Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2016,
valuation of approximately $12,540. Based on the 2015 levy this would result in a real
property tax of approximately $265. It is anticipated that the assessed value will increase
by $7,500,000 upon full completion, as a result of the site redevelopment. This
development will result in an estimated tax increase of over $165,454 annually. The tax
increment gained from this Redevelopment Project Area would not be available for use
as city general tax revenues, for the period of the TIF contract or the time as may be
required to amortize the TIF bond, but would be used for eligible private redevelopment
costs to enable this project to be realized.
Estimated 2016 assessed value:$ 12,540
Estimated value after completion $ 7,512,540
Increment value $ 7,500,000
Annual TIF generated (estimated)$ 165,454
TIF bond issue (Not to exceed)$ 1,495,000
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area currently has an estimated valuation of $12,540. The
proposed redevelopment will create additional valuation of $7,500,000. No tax shifts are
anticipated from the project. The project creates additional valuation that will support
taxing entities long after the project is paid off.
(b) Public infrastructure and community public service needs impacts and local tax
impacts arising from the approval of the redevelopment project;
No additional public service needs have been identified. Existing water and waste
water facilities will not be negatively impacted by this development. The proposed waste
water lift station would be installed as part of private system owned and maintained by
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the apartment complex. The electric utility has sufficient capacity to support the
development. This development, since it is housing, may have an impact on Grand
Island Public Schools. At this point, the Grand Island public school system has taken a
neutral stance on development not advocating for or against housing projects proposing
to use TIF. This property is in the Dodge Elementary School area. Fire and police
protection are available and should not be negatively impacted by this development. The
connection between Stuhr Road and Cherry Street may positively impact response by
police and fire.
(c) Impacts on employers and employees of firms locating or expanding within the
boundaries of the area of the redevelopment project;
This will have minimal impact on employers or employees within the redevelopment
project area. Although it will increase housing choices in southeast Grand Island and
may positively impact recruitment of employees for businesses located in this part of the
community.
(d) Impacts on other employers and employees within the city or village and the
immediate area that are located outside of the boundaries of the area of the
redevelopment project; and
This project will not have a negative impact on other within the Grand Island area.
(e) Any other impacts determined by the authority to be relevant to the
consideration of costs and benefits arising from the redevelopment project.
This will complete a project that began more than 20 years ago. The connection will
be made between Cherry Street and Stuhr Road. This project will provide needed
housing in the Grand Island market and spread the housing to parts of the community
other than northwest Grand Island.
Time Frame for Development
Development of this project is anticipated to be completed during between July of 2016
and December of 2017. The base tax year should be calculated on the value of the
property as of January 1, 2017. Excess valuation should be available for this project for
15 years beginning in 2018 with taxes due in 2019 actual dates will be set within the
contract. Excess valuation will be used to pay the TIF Indebtedness issued by the CRA
per the contract between the CRA and the developer for a period not to exceed 15 years
or an amount not to exceed $1,495,000. The bonds for this project will be paid off in 10
years or less based on the projected amount of increment the anticipated value of the
project and the current tax rate. Based on the estimates of the expenses of the
rehabilitation the developer will spend up to $1,726,660 on TIF eligible expenses as part
of this development.
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East Park on Stuhr
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 215
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA, SUBMITTING A PROPOSED
REDEVELOPMENT PLAN TO THE HALL COUNTY REGIONAL PLANNING
COMMISSION FOR ITS RECOMMENDATION
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), pursuant to the Nebraska Community
Development Law (the "Act"), prepared a proposed redevelopment plan (the
"Plan") a copy of which is attached hereto as Exhibit 1, for redevelopment of an
area within the city limits of the City of Grand Island, Hall County, Nebraska; and
WHEREAS, the Authority is required by Section 18-2112 of the Act to submit
said to the planning board having jurisdiction of the area proposed for redevelopment
for review and recommendation as to its conformity with the general plan for the
development of the City of Grand Island, Hall County, Nebraska;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The Authority submits to the Hall County Regional Planning Commission the
proposed Plan attached to this Resolution, for review and recommendation as to its
conformity with the general plan for the development of the City of Grand Island, Hall
County, Nebraska.
Passed and approved this ___ day of ___________, 2016.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By___________________________
Chairperson
ATTEST:
__________________________
Secretary
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East Park on Stuhr
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 216
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA, PROVIDING NOTICE OF INTENT TO ENTER INTO
A REDEVELOPMENT AFTER THE PASSAGE OF 30 DAYS AND OTHER MATTERS
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), has received an Application for Tax Increment
Financing under the Nebraska Community Development Law (the “Act”) on a
project within Redevelopment Area 1, from Cherry Park Apartments Phase III, (The "Developer") for redevelopment of an area within the city limits of the City of Grand
Island as set forth in Exhibit 1 attached hereto area; and
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), is proposing to use Tax Increment Financing on a project within Redevelopment Area 1;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
Section 1. In compliance with section 18-2114 of the Act, the Authority hereby
gives the governing body of the City notice that it intends to enter into the
Redevelopment Contract, attached as Exhibit 1, with such changes as are deemed
appropriate by the Authority, after approval of the redevelopment plan amendment
related to the redevelopment project described in the Redevelopment Contract, and
after the passage of 30 days from the date hereof.
Section 2. The Secretary of the Authority is directed to file a copy of this
resolution with the City Clerk of the City of Grand Island, forthwith.
Passed and approved this ___ day of __________, 2016.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By ___________________________
Chairperson
ATTEST:
___________________
Secretary
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Community Redevelopment
Authority (CRA)
Wednesday, June 8, 2016
Regular Meeting
Item H2
TIF Request - Wild Bill's
Staff Contact: Chad Nabity
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 1
Table of Contents
Table of Contents…………………………………………………………………………………………...1
Executive Summary………………………………………………………………………………………...2 Business Description………………………………………………………………………………………..5 Markets and Competition………………………………………………………………………………….10 Management and Organizational Plan…………………………………………………………………….16 Advertising and Promotion………………………………………………………………………………..21 Financial Data……………………………………………………………………………………………..24 Investment and Use of Funds……………………………………………………………………………...26 Appendix…………………………………………………………………………………………………..27
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 2
Executive Summary
A market opportunity exists in the Grand Island, Nebraska area to service sports
enthusiasts, families, professionals, and the area youth with a sports themed restaurant and
entertainment recreation facility. Market research shows that sports themed restaurants continue
to be on the rise. It also provides information that shows youth often get into more trouble and
fall into drug use when voided of healthy activities and entertainment. K & L Enterprises Inc. is
looking to provide an outlet for active youth and families by establishing a presence in the Grand
Island, Nebraska area with WB’s Family Fun Center. Furthermore, sports enthusiasts,
professionals, and parents want an environment where the can relax and socialize and a place for
their children to have fun without worrying about them.
K & L Enterprise Inc. was formed in Grand Island, Nebraska, as a corporation under a
cooperative partnership of Lonnie Parsons, his wife Kelly, Gary Suhr, and his wife Chris. This
dynamic management team has a proven record of efficient operations practices and will be
responsible for the design, development of company policy, and hands-on-management of the
daily operations. In addition, a team-oriented and customer-focused staff of approximately 45
will support the management team. K & L Enterprise takes great pride in their community and is
looking to invest back into their community by provide wholesome entertainment that will in
turn have an economic impact with jobs and providing a plethora of entertainment options for the
area.
WB’s Family Fun Center is an ongoing business based in North Platte, Nebraska
and is proposing to purchase the vacant land at the corner of 3400 South Locust Street.
This highly visible location will attract customers to this familiar Grand Island landscape.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 3
Based on the current prices in the family fun center market, WB’s Family Fun Center has
the potential of making excellent sales the first year. With good management, a healthy annual
revenue growth is expected.
WB’s Family Fun Center will be held privately corporation which will be owned by the
self-made team to financially back the new business venture. In order to start operations for this
project with an approaching deadline, the team will need to obtain a loan of approximately
$8,900,000.00 to begin their construction and rebranding efforts. This loan will provide startup
capital, financing for new construction, landscaping, new utilities, paved parking lot and
supplies, pay for permits and licensing, employee training, and anything else that should arise.
The expected open date for this facility be June 1, 2017. This will give them the opportunity to
serve customers for the summer season and through the profitable sports and State Fair season.
This unique business venture aims to appeal to several types of customers bases in and
around the community. K & L Enterprises Inc. will achieve this by branding the new location,
positioning their services, establishing a targeted market, creating an objective or mission for the
business, and developing a strategic strategy by promoting safe family, sports and youth
entertainment to achieve sales projections.
The sales of WB’s Family Fun Center will consist of bowling center revenues (i.e.
leagues, events, promotions, Birthday Parties, Corporate Parties etc.), restaurant (i.e. menu items,
an assortment of beverages, nightly meal and drink specials, sporting event specials, etc.), and
the community space (i.e. receptions, business meetings, banquets, etc.), Arcade, Mini-Golf,
Go-Karts, and Bumper Cars. Potential customers are located in Grand Island, surrounding
communities, and the Central Nebraska Region.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 4
Total sales for WB’s Family Fun Center are expected to achieve $3,482,687 in revenues
the first full year of operation. Conservative estimates of sales projections show a ten-percent
increase in sales after years two and three, a five-percent increase in fixed expenses, and an
adequate increase in earnings before interest, taxes, and depreciation to service the debt.
This market share projection will be achieved by offering wholesome family
entertainment, an abundance of televised sporting events, quality food and beverages to all
customers, combined with a reliable customer base and marketing program, the market share
projection can be achieved. More detailed information is offered in the business plan below.
Statement of Purpose:
Lonnie Parsons and Gary Suhr are proposing an investment of $1,800,000. He
anticipates that use of a Commercial Loan in the amount of $6,700,000. The loan will be repaid
as depicted in the appendix, Cash Flow Projection, of this plan. This loan is needed in order to
purchase land and build from the ground up a new Family Fun Center, purchase bowling center
equipment, restaurant equipment, Arcade Equipment, Laser Tag Equipment, go-kart construction
and equipment, Mini-golf construction, technology equipment, inventory, appliances, and to
acquire employees.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 5
Business Description
Historically, most bowling centers catered to blue collar, league and tournament-oriented
customer base. Now family fun centers are repositioning and rebranding itself to appeal to a
more diversified, younger upscale clientele which seeks an enjoyable entertainment experience
in a well-appointed facility, a broader array of product offerings and a high-quality food and
beverage operation. This is where WB’s Family Fun Center will make great strides to break into
the local market.
Management/Staffing
WB’s Family Fun Center is a new business venture based in Grand Island, Nebraska that
will be located at 3400 South Locust Street in a high trafficked area of the city centralized in the
major retail and shopping area. Through a cooperative partnership, K & L Enterprises Inc. which
is made up of Lonnie Parsons, his wife Kelly, Gary Suhr, and his wife Chris will serve as
partners in this venture as the owners and managers. The Family Fun Center will be a great
entertainment hotspot in the Grand Island Community. It will combine the endless entertainment
opportunities of a bowling, arcade, laser tag, go-karts, mini-golf along with the excitement of a
premier sports themed restaurant. The newly constructed 55,000 sq.ft facility will undergo a
major transformation to bring this project in the direction they expect the business to go. It will
include 18 lanes of bowling, 6 lanes of corporate bowling, large arcade, laser tag, mini-golf, go-
karts, bumper cars, lighting, equipment, monitors, televisions, ceiling, bar will have refitted with
restaurant equipment, community room addition, paint, carpet, electrical, plumbing, roof,
parking lot, and HVAC.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 6
Restaurant
WB’s Family Fun Center will strive to be the premier Family Fun Center in Grand Island
and Central Nebraska. Their goal is to be a step ahead of all competition in the region. They
want their customers to have more fun during their leisure time while also providing a safe place
for the areas youth. The sports themed restaurant will provide a variety of menu options and
more televisions with more sporting events than anywhere else in the region. WB’s Family Fun
Center will provide state-of-the-art table-top audio control at each table so the customer can
listen to the selected program of his or her choice without interference from background noise.
Their unique combination of menu selections, atmosphere, ambiance, and dining/entertainment
experience will build a regular customer base made of sports enthusiast and family dining.
The restaurant will be able to hold a capacity of approximately 125 seats which is optimal
for large sporting events. Their menu will contain sever choices for gourmet burgers with the
build-your-own-burger option, 12 different high-quality wet and dry Buffalo wings, decadent
sandwiches, and Prime Rib specials on the weekends. The will have on hand 8 different brew
pub style beers, with the regular domestic choices, and a variety of mixed drinks and specials.
WB’s Family Fun Center want their customers to have a new and exciting casual themed
dining experience. K & L Enterprises Inc. will create an inviting atmosphere that will appeal to
sports fans, customers of all ages and families alike. The restaurant will offer elements of the
quick casual and casual dining restaurant concepts featuring a flexible service model that allows
their guests to choose among convenient dining options such as quick counter service, dining
table service or a take-out/delivery possibility.
Their succulent menu options, inviting atmosphere, and beverage selections, combined
with their plethora of special events and entertainment, will drive guest visits and loyalty.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 7
Fun Center
The fun center will consist of 22 high-end synthetic bowling lanes that can be optimized
for all types of bowling such as regular games and cosmic style bowling. The fun center
enhancement project will be transformed with the assistance of AMF world class bowling
equipment a worldwide leader in the bowling industry for decades. The project will include an
upgraded appearance throughout the bowling center, synthetic lanes, automated gutter bumpers,
new scoring system thru AMF scoring to enhance marketing and bowling interaction, new ball
returns, comfortable sofas and custom tables, management and secretarial computer system and
specialized training. With their assistance, WB’s Family Fun Center will provide to customers a
fashionable, high class bowling experience. This will also improve revenues by bringing in new
customers and allowing them to become the foremost bowling center in Central Nebraska.
In addition to the bowling center project, they will also be adding a large arcade, laser
tag, bumper cars, mini-golf and go karts to allow families and the area youth to have multiple
entertainment options. In conjunction with the normal bowling operations and league bowling,
WB’s Family Fun Center will host several bowling events throughout the year to appeal to a
wider base of customers. Some of the events that will be hosted will be for birthday parties, post-
graduation, post-prom, Christmas parties, corporate parties, last day of school bowling, jackpot
bowling, tournaments, cosmic bowling, $1 bowling nights, and rent-a-lane.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 8
Meeting Rooms
WB’s Family Fun Center will build a much needed community space during their
construction. Their public or community space will act as a gathering spot within their area that
will help promote additional social interaction and a sense of community within their business.
This space will allow it to be a unique venue for business meetings, receptions, banquets, and
parties within an entertainment setting giving participants a more relaxed and pleasurable
atmosphere. Not only will the space help boost potential bowlers and restaurant-goers but it will
support community involvement.
WB’s Family Fun Center will offer catering to the special groups that lease out the space
for events. They will also assemble table, chairs, table ware, and linens for each event. The room
will be approximately 2,000 square feet in size, holding about 200 seats that can be divided into
two rooms, will be equipped with state-of-the-art audio and visual equipment for every type of
use.
Products/Distributors
WB’s Family Fun Center want to establish their brand through coordinated marketing
efforts and operational execution that ensures brand recognition and the quality and consistency
of their concept. These efforts include marketing programs and advertising to support their
restaurant. The concept can be further strengthened by their emphasis on operational excellence
supported by stringent operating guidelines and comprehensive employee training. The
restaurant will acquire all required licensure needed to provide food and alcoholic beverages.
The key food and beverage suppliers for the business will be up for bids. These suppliers
supply the similar products and goods so the restaurant manager will choose which vendor to do
business with. The restaurant will select with the supplier that provides us a store credit, has
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 9
exceptional delivery times, and has the best overall prices. The will get the office supplies from
Office Max or Staples. The rest of the restaurant supplies (pots, pans, silverware, cooking
utensils) will come from a distributer that is open for bids at this point.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 10
Markets and Competition
In a study conducted by Hansell & Associates, Inc. of the bowling industry, they reported
that the bowling industry currently is enjoying a period of unprecedented popularity, financial
stability and positive change. By apply new technology, broadening its customers focus and
offering a diversity of entertainment options, bowling has been able to tap into the country’s
renewed emphasis on family activities and traditional values. As a result, bowling now is the
nation’s number one participatory sport.
Throughout 2010 thru 2014, most centers reported that their operating revenues and
margins were up, stable or down only slightly, while in 2014 most centers ran ahead of the prior
year, according to recent national studies.
WB’s Family Fun Center anticipate they will appeal to a broad base of customers in and
around the area. They expect to be frequented by all types of patrons in both Grand Island and
the surrounding communities. The restaurant will be the driving force of the business while the
Fun Center and community space will provide space and entertainment for all types of functions
such as business meetings, banquets, receptions, parties and more. The established location
selection for the business contains ideal characteristics to support the fun center and restaurant
such as ample parking, centralized location, visibility, and upgraded facilities. Great food, plenty
of space, a variety of entertainment, and modest prices will appeal to all income types in the area.
Grand Island is great for tourism so a local restaurant should prove to be a good business
venture. The family fun center will need to serve several market sectors. It will have a family
atmosphere as well as to cater to the sports enthusiast. The restaurant will have a lunch menu,
dinner menu, and the bar menu. The restaurant will also have weekly happy hour
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 11
drink specials along with lunch and dinner specials. WB’s Family Fun Center will also appeal to
a large portion of league bowlers which will be considerable revenues for the bowling center.
Restaurant Trends
The growth trends for the bar and grill restaurant industry are forecast to advance 3.6% in
2014. Analyst predict that the U.S. Restaurant Industry which created, on average, about
270,000 new jobs per year during the last 10 years is on track to add 1.8 million new jobs during
the next 10 years. On a typical day, the industry will post average sales of $1.3 billion.
The industry trends to watch: Greater use of technology and worker training as a means
to boost productivity and efficiency; continued increased focus on healthy lifestyles and
restaurants providing customers with choices and customization; and increased upgrades and
improvements in decor and becoming environmentally friendly.
The sports themed restaurant will have to serve several market sectors. They will provide
a family atmosphere as well as cater to the sports enthusiast. The restaurant will serve multiple
uses; for example, workday lunch, dinner with the family, or watching the big game each having
its own dining experience. No matter where you sit there will still be TV’s so you can watch
sporting events.
.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 12
Family Fun Center Trends
Bowling currently is well-positioned to take advantage of a number of trends and
developments within society as a whole. After a decade of seeking refuge in their homes,
Americans are venturing out for entertainment and recreation, triggering a boom in sales in
away-from-home products, services and activities. Current trends impacting bowling include
convenience. As a reasonably-priced recreation activity located close to home, bowling appeals
to consumers who want a hassle-free, easily-accessible fun experience. Bowling fits comfortably
within the current renewed emphasis on family activities and traditional values.
Current trends impacting bowling also include Consumer Spending Habits. Higher socio-
economic households now represent an increasing majority of customers for location-based
entertainment facilities, particularly those like bowling which provide a significant social
component. This trend is enabling most bowling centers to rely less upon their traditional blue
collar customer base and focus their marketing on a more reliable and rewarding up-scale
clientele.
People are social animals, and family fun centers offer an escape from the loneliness
inherent in much of today’s lifestyles by providing convenient and hospitable sites for
socializing with family, friends and business associates.
Over the past 10 to 15 years, as the industry modernized its business practices and
continued to strengthen its financial viability, the number of defaults, failures and bankruptcies
by bowling centers has been well below the average for small businesses generally. For example,
in the 10-year period ending September 30, 2012, the SBA default rate on bowling loans was
17%, putting bowling into the top three-quarters of all industries in the country, and its charge-
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 13
off rate was only 1.23%, ranking bowling in the highly-coveted 11th percentile of all industries
receiving at least 100 loans during that period.
Similarly, in 2011, the most recent data available, the RMA Expected Default Frequency
for bowling centers was only 1.80% while Moody’s EDF percentage for that year was 8.73%.
Both RMA and Moody’s show a declining default rate over the previous three years, which
supports bowling’s standing as a healthy industry gaining financial strength. In fact, the
industry’s recent growth, inherent stability and renewed vigor have created a favorable lending
climate for centers all over the country. In addition, based on the latest information released by
the SBA, bowling ranked in the top 11% of all industries nationally for lowest losses on SBA-
guaranteed loans.
Because the industry has experienced very few losses of any significance in recent years,
property and casualty insurance coverage is readily available at competitive prices. The unique
league structure of bowling enhances the industry’s appeal as a business. In most centers, about
35% to 40% of revenues are guaranteed by league contracts which reserve lanes for specific time
periods each week over an eight-to-nine-month season.
Family Fun Centers produce additional revenues from other amenities such as sales of
alcoholic beverages, bowling-shoe rentals, food facilities, pro shops, billiards, vending machines,
video games, and of increasing importance in recent years, a wide range of other entertainment
activities.
Bowling is a cash business with no receivables. Because of the strong cash flow, a
bowling business needs little working capital, and funds tied up in inventories are minimal.
Bowling centers have excellent operating leverage; once basic expenses are covered, an
unusually large percentage of each additional dollar of revenue flows through to the bottom line.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 14
A bowling center runs little risk of functional obsolescence; the design and function of
the major components of a center rarely change, and modest ongoing expenditures in decor and
appearance can keep a facility fresh and modern for many years. With proper maintenance, the
basic equipment normally will function efficiently for well over 20 years.
Bowling potentially appeals to virtually all segments of this country’s demographic base.
A highly-social activity, it is enjoyed by people of all ages, physical abilities and skill levels.
Families, employee organizations and other groups frequently bowl together for fun, fitness and
friendly competition. The industry benefits from this country’s expanding desire for wholesome
recreation and, particularly as more bowling centers diversify by adding ancillary activities for
family-fun participatory activities.
Competition
The nostalgic and reparable location for WB’s Family Fun Center is a key component of
this venture. With the new ownership and branding it will drive old and new customers to the
location curious to see the changes and upgrades. There is no other Family Fun Centers located
on the south end of Grand Island which possesses high returns on the investment.
The majority of restaurants within the immediate proximity to their location are
comprised of a mixture of fast food establishments and casual dining venues but none with the
offerings that WB’s Family Fun Center will have. WB’s Family Fun Center will have similar
characteristics to a franchise restaurant such as a Buffalo Wild Wings (BW’s) which has a
reputation for successful business practices and large market for sports themed restaurants.
There are many small restaurants in the area but none with the entertaining possibilities
as WB’s Family Fun Center. The current restaurants located in Grand Island offer a casual dining
experience but lack the amount of leisure opportunities. Some strengths for the business have
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 15
been identified as there is no other bowling centers in the area, location has recognition, offers a
full menu and bar selection, market is anyone that would like to watch sports in a bar or
restaurant atmosphere or bowl, will utilize TV and radio commercials to communicate to their
markets, offers high quality audio and video equipment for their customer viewing and listening
pleasures, family friendly atmosphere, and entertainment for families, youth, and young
professionals.
The top competitor will be Uncle Ed’s Steakhouse, Pam’s Pub & Grub and Denny’s
within the immediate area. WE will differentiate ourselves from the rest of the local sectors by
offering a wider variety of entertainment, specials, full menu selection, close to home
atmosphere, more television with state-of-the-art table top video/audio controls and a dining
experience free from stress.
Other competitors are McDonalds, Subway, Burger King, Taco Bell, KFC and
Wendy’s. While these are not direct competitors of WB’s Family Fun Center because of the
different market niche that they operate in, these companies still compete for the same market
share of individuals dinning out. And all the fast food companies are within the same geographic
area.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 16
Management and Organizational Plan
Lonnie & Kelly Parsons and Gary & Chris Suhr are the principle(s) in this venture.
Combined, they possess 50 years of knowledge and experience in owning and operation
successful businesses with reputable reputations.
Management
Gary was brought up in a family grocery store where he learned extensive knowledge
about the industry and owning a business. He has been in business operations for nearly 35 years.
His wife Chris has previous experience as a waitress, server, baking, and bookkeeping for the
past 30 years.
Lonnie possess a vast amount of proficiencies and understanding with his experience in
the construction/contracting industry, service as a fire fighter/paramedic, and businesses he has
owned and operated as an entrepreneur. His wife Kelly has involvement in the banking sector
and previous business as well. Lonnie and Kelly will assume the role as the bookkeeper and will
be in charge of the books and operational expenses.
WB’s Family Fun Center will institute sound operating principles by which to conduct
the day to day operations for the establishment. Policies systems and procedures will be adopted
and documented along with the assistance of a POS (Point of Sale) database and the previous
experience of the management team. The database will provide the team with valuable, up to
date resources that includes tools, business management, menu promotion, staffing and much
more as their integrated systems associate.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 17
Employees
WB’s Family Fun Center are expected to employ approximately 52 employees for in
various positions around the facility. Each position is important and plays a vital role in the
business such as cleanliness, customer service, quality products/service, operations efficiency,
and more. These positions include two Managers, two assistant Managers to oversee operations,
line cooks, prep cooks, hostesses, waitresses, bartenders, Fun Center techs, and maintenance.
Their wages will range from hourly rates to salary rates based on position and experience. A
thorough training program will be implemented for all positions within the restaurant and all
employees will learn how to operate a successful restaurant and bowling center. Newly hired
personnel will be instructed in customer service, safety and health law in addition to their
functions for their respective positions. Servers will undergo an in house Alcohol Management
Program that teaches responsible alcohol service based off of the mandate from the State of
Nebraska.
The Managers duties will be to oversee the daily operations of restaurants, inventory and
ordering of food, equipment, and supplies and arrange for the routine maintenance and upkeep of
the restaurant, its equipment, and facilities. The manager will take an annual salary of $40,000.
There will also be two assistant Manager for the fun center and their duties will be similar and to
oversee the personal when the manager is not available.
There will be a total of eight cooks each scheduled to work at least thirty-two hours a
week. They will have scheduled shifts and get paid $11 per hour. There will be six
hostesses/bartenders, who will be able to do both duties. They will be able to get thirty-two plus
hours a week if they desire. They will get paid $6.00/$5.00 per hour and also receive tips. There
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 18
will be twenty servers on staff. They will also have to clean the tables as well as wait on
customers. There will be some part time positions and full time positions. They will get paid
$4.00 per hour plus tips, 2 maintenances personal at $15.00 an hour full time, party coordinator
at $35,000.00 per year with office and fun center techs at $10.00 per hour.
Organizational Plan
To help save on insurance cost and claims top management will stress safety, stress
safety, and stress more safety. Safety starts with the hiring process. The company will be
thorough in efforts to screen employees and will consider pre-employment drug tests. This
should reduce on-the-job accidents that lead to insurance claims.
The insurances that the restaurant will need to acquire will be workman’s compensation,
property & liability, liquor liability, and health insurance. Workman’s compensation covers
employees in case of harm attributed to the workplace. The property and liability insurance
protects the building from theft, fire, natural disasters, and being sued by a third party. Liquor
liability insurance provides coverage for bodily injury or property damage for which the insured
may be held liable for contributing intoxication to any person. The company will need liquor
liability insurance before liquor licenses is granted. Employee health insurance will be explored
at a later date.
Employees will be trained not only in their specific operational duties but in the
philosophy and applications of the business’s concept. They will receive extensive information
from the managers and be kept informed of the latest information on healthy eating. For process
and benchmarking a big emphasis is being placed on extensive research into the quality and
integrity of our products. They will constantly be tested for our own high standards of freshness
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 19
and purity. Food costs and inventory control will be handled by their computer system and
checked daily by management.
The company will need to get numerous licenses to operate. They include: A food service
license is required with your local health department, a sales tax license is required through the
Nebraska Department of Treasury, liquor licenses filed through the Liquor Control Commission
of the Nebraska State Patrol. If tobacco products are sold at the business, they will have to
contact the appropriate agency to obtain permits and licensure.
The inventory management and order taking and processing will all be done
electronically located throughout the restaurant and bar area. The software for the business will
be premiere restaurant software. This software can be altered to the business’s needs. The
software will include a point of sale menu, inventory control analysis, credit card sales, bar and
quick serve menu, office management, and much more.
WB’s Family Fun Center will provide ongoing training programs to assist with customer
service and quality control. The training will include preparation of menu items, quality and
food portion control, beverage and inventory management, using the software, cleanliness,
organization and sanitation standards, marketing and public relations.
The facility size of the business has the capacity of 125 people in the restaurant and 200
people in the community room which holds adequate space for big sporting events This will
allow them to pack them in, or would give them space to spread out.
While benchmarking they will compare their business to a larger business in a larger
geographic area, mainly larger franchises such as Applebee’s. The business will measure and
compare the number of guests per day, number of meals and drinks served, cost of supplies, and
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 20
the waste percentage. With all these methods in place, WB’s Family Fun Center should be able
to be the premiere sports grill in Central Nebraska. Advertising and Promotion
WB’s Family Fun Center target market is based on serving the Family’s, sports
enthusiast, the professional, tourism, youth, as well as families dining out. They want a variety of
customers and will make sure everybody can enjoy the bowling and sports themed restaurant
experience.
Advertising
WB’s Family Fun Center will plan to utilize a grand opening on June 15, 2017. The
opening date will be a couple weeks before the grand opening and this will allow the employees
to become familiar with the operations and customer interaction. The grand opening will be
advertised in the local papers and on the radio. Once the newness of the restaurant has subsided,
WB’s Family Fun Center will pursue an ongoing marketing campaign targeted at the local
market.
Marketing flyers will be created as an informal sales tool for customers and sports
enthusiasts. These brochures will give a detailed analysis of specials, events, products and
service formation. Additionally, these brochures will be used to assist their sales driving force
within the community and could be used as direct mail follow up.
A large portion of their marketing and advertising campaign has been achieved though
social media. They will continue to actively pursue a sector of their business through Facebook
and blogging about their services. The utilization of this type of social media to promote and to
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 21
give their current supporters and future consumer’s details of specials and promotions will be a
major persuasion marketing factor.
WB’s Family Fun Center will develop a website which also plays a vital role in their
marketing efforts. The website is important to reach customers and serve as a
comprehensive resource for existing and potential customers. The website contains company
information, product and service overview, specials, promotions, and upcoming events.
Advertising will consist of wall posters advertising specials and menu items, outdoor
message board changed weekly or daily, grand opening celebration, and telephone book; the
business will have a large advertisement in the local phone book.
Local Media markets will develop and provide direct mail flyers containing interior
pictures of the restaurant, prices, "Theme Nights or events," and an explanation of their concept,
radio campaigns with complete with live remotes in the parking lot. They will pick the top local
stations with which to place our short and catchy ads. They will also make "live on the air"
presentations of their food products to the disk jockeys, hoping to get the promotions
broadcasted to the listening audience, newspaper campaigns placing several large ads throughout
the month to explain their concept to the local area. Cable TV will be a possibility if they can
secure favorable rates with enough frequency and a web page that will give internet users access
to menus, daily specials, weekly promotions, and even placing pick up orders
WB’s Family Fun Center marketing budget will be flexible. Being flexible in the
marketing budget will let the advertisers adjust for different sporting events such as the Super
Bowl, Stanley Cup, NBA finals, NASCAR events and the World Series. The marketing budget
can be allocated in any way that best suits the time of year as long as there is always a flyer
being distributed to the local papers.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 22
To monitor how well their business is doing they will measure how well the advertising
campaign is working. Customers can take random surveys of the establishment the restaurant
and fun center. They would like to know is how the customers heard of the restaurant and
how they like it. In order to get responses to the surveys there may possibly be discounts given
to their order.
WB’s Family Fun Center will be committed to maximizing their purchasing power by
building lasting relationships with local vendors and companies that will benefit all areas of their
business. They will work directly and closely with all related industry contacts to ensure their
restaurant provides the highest quality products and merchandise at the best available prices.
This will cover all aspects of their business from food & bar purchases to bowling and
merchandise items, fixtures and equipment.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 23
Financial Data
The company’s current knowledge and future projections have produced an estimated
cash flow statement on a monthly basis for the next three years.
The spreadsheet is made up of projected sales and expense figures using general industry
data, private industry sources and the inputs of the owner.
The sales figures are achievable in the first 12 months. Projections are found in the
appendix of this plan. The sales figures for year one are achievable by opening doors by early
summer, with advertising and marketing campaigns will attract and increase new customers. The
sales figures for the year two are achievable within the current facility if both renovations and the
grand opening are completed as scheduled in time for summer play.
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 24
Assumptions Management / Human Resources WB’s Family Fun Center plans to employee 45 employees. The hours are 11:00 AM till Midnight, seven days per week. 11 FEC techs @ $10.00/hr, 8 Cooks @ $11/hr, 20 Servers @ $4.00/hr, 6 Bartenders (they can also do other job duties) @ $5.00/$6.00/hr, 2 managers @ $40,000, 2 Assistant Managers @ $12.00/hr, 2 Maintenance Personal @ $15.00/hr, 1 Party Coordinator @ $35,000 a year. Open 360 days / year. Operations The operating expense for each month will include bank payment, supplier payment, utilities and insurance. The bank payment will include cost of the new facility, all equipment, and other operating expenses. Marketing There will be a marketing budget of $15,000 per quarter. There will be extra marketing money for the grand opening celebration. The amount of the financing needed from the bank will be approximately $8,900,000. This will be repaid over the next 15-20 years at $15,000-$17,000 per month. Investment and Use of Funds
The investment requirement to fully fund the working capital, construction
cost, equipment, inventory and to hire employees for the business, for WB’s Family
Fun Center is $8,900,000.
SOURCES OF FUNDS:
Commercial Financing - $5,200,000 Owners contributions - $800,000.00 TIF Financing - $ USE OF FUNDS: See attachments
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WB’s Family Fun Center · 3436 South Locust Street · Grand Island, Nebraska 68801 25
Appendix
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Redevelopment Plan Amendment
Grand Island CRA Area 2
June 2016
The Community Redevelopment Authority (CRA) of the City of Grand Island
intends to amend the Redevelopment Plan for Area 2 within the city, pursuant to
the Nebraska Community Development Law (the “Act”) and provide for the
financing of a specific housing related project in Area 2.
Executive Summary:
Project Description
THE ACQUISITION OF PROPERTY AT 3400 S LOCUST STREET AND THE
SUBSEQUENT SITE WORK, UTILITY IMPROVEMENTS, STREET
IMPROVEMENTS, ENGINEERING, LANDSCAPING AND PARKING
IMPROVEMENTS NECESSARY FOR DEVELOPMENT OF THIS PROPERTY INTO
TWO COMMERCIAL LOTS INTENDED FOR A FAMILY FUN CENTER AND
CONVENIENCE STORE.
The use of Tax Increment Financing (TIF) to aid in the acquisition of property, necessary
site work and installation of public utilities and utility connections and street and
drainage improvements necessary to develop this site. The use of TIF makes it feasible to
complete the proposed project within the timeline presented. This project would not be
considered at this time and location without the use of TIF. Financing for the project is
contingent on TIF
The acquisition, site work and construction of all improvements will be paid for by the
developer. The developer is responsible for and has provided evidence that they can
secure adequate debt financing to cover the costs associated with the acquisition, site
work and remodeling. The Grand Island Community Redevelopment Authority (CRA)
intends to pledge the ad valorem taxes generated over the 15 year period beginning
January 1, 2018 towards the allowable costs and associated financing for the acquisition
and site work.
TAX INCREMENT FINANCING TO PAY FOR THE ACQUISTION OF THE
PROPERTY AND RELATED SITE WORK WILL COME FROM THE
FOLLOWING REAL PROPERTY:
Property Description (the “Redevelopment Project Area”)
This property is located between Locust Street on the east and Tri Street on the west and
between Lake Street on the south and U.S. Highway 34 (Husker Highway) on the north
in southern Grand Island, the attached map identifies the subject property and the
surrounding land uses:
Legal Description To Be Added
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This plan amendment provides for the issuance TIF Notes, the proceeds of which
will be granted to the Redeveloper. The tax increment will be captured for up to 15
tax years the payments for which become delinquent in years 2018 through 2032
inclusive or as otherwise dictated by the contract.
The real property ad valorem taxes on the current valuation will continue to be paid
to the normal taxing entities. The increase will come from the construction of new
commercial space on this property.
Statutory Pledge of Taxes.
In accordance with Section 18-2147 of the Act and the terms of the Resolution, the
Authority hereby provides that any ad valorem tax on any Lot or Lots located in the
Redevelopment Project Area identified from time to time by the Redeveloper (such Lot
or Lots being referred to herein as a "Phase") as identified in a written notice from the
Redeveloper to the Authority (each, a "Redevelopment Contract Amendment Notice") for
the benefit of any public body be divided for a period of fifteen years after the effective
date of this provision as set forth in the Redevelopment Contract Amendment Notice and
reflected in a Redevelopment Contract Amendment, consistent with this Redevelopment
Plan. Said taxes shall be divided as follows:
a. That portion 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 shall
be paid into the funds, of each such public body in the same proportion as all other taxes
collected by or for the bodies; and
b. That portion of the ad valorem tax on real property in the
redevelopment project in excess of such amount, if any, shall be allocated to and, when
collected, paid into a special 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 on money
to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such
Authority for financing or refinancing, in whole or in part, a redevelopment project.
When 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.
Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged
to the repayment of loans or advances of money, or the incurring of any indebtedness,
whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in
whole or in part, the redevelopment project, including the payment of the principal of,
premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness.
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Redevelopment Plan Amendment Complies with the Act:
The Community Development Law requires that a Redevelopment Plan and Project
consider and comply with a number of requirements. This Plan Amendment meets the
statutory qualifications as set forth below.
1. The Redevelopment Project Area has been declared blighted and substandard by
action of the Grand Island City Council on September 13, 1999.[§18-2109] Such
declaration was made after a public hearing with full compliance with the public
notice requirements of §18-2115 of the Act.
2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13)
(a) and §18-2110]
Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan
amendment and project are consistent with the Comprehensive Plan, in that no changes in
the Comprehensive Plan elements are intended. This plan merely provides funding for
the developer to acquire the necessary property and provide the necessary site work,
utilities and street improvements needed for the construction of a permitted use on this
property.
3. The Redevelopment Plan must be sufficiently complete to address the following
items: [§18-2103(13) (b)]
a. Land Acquisition:
The Redevelopment Plan for Area 2 provides for real property acquisition and this plan
amendment does not prohibit such acquisition. There is no proposed acquisition by the
authority. The applicant will be acquiring the property from the current owner. It is
further anticipated that the owner will sell a portion of this property to another entity for
the development of a convenience store at the corner of Lake and Locust Streets.
b. Demolition and Removal of Structures:
The project to be implemented with this plan will not require demolition of any existing
structures.
c. Future Land Use Plan
See the attached map from the 2004 Grand Island Comprehensive Plan. The site is
planned for commercial development. [§18-2103(b) and §18-2111] The attached map
also is an accurate site plan of the area after redevelopment. [§18-2111(5)]
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City of Grand Island Future Land Use Map
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Proposed site plan after development
d. Changes to zoning, street layouts and grades or building codes or ordinances or
other Planning changes.
The area is zoned B2 General Business zone. No zoning changes are necessary though
the owners may wish to rezone this to a commercial development zone to facilitate the
development of the property. No changes are anticipated in street layouts or grades.
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Lake Street will be paved at least as far as the intersection with Knott Avenue. No
changes are anticipated in building codes or ordinances. Nor are any other planning
changes contemplated. [§18-2103(b) and §18-2111]
e. Site Coverage and Intensity of Use
The developer is proposing to build a family fun center (including bowling, laser tag,
electric go carts and miniature golf) on one lot. A second lot will also be created and sold
with the intended use of a convenience store at the corner of Lake and Locust Street. The
proposed development will be substantially less than the 50% building coverage allowed
in the CD zone or 65% coverage allowed in the B2 zoning district. [§18-2103(b) and §18-
2111]
f. Additional Public Facilities or Utilities
Sewer and water are available to support this development. Connections for water and
sewer will have to be extended to serve this lot.
The developer will be responsible for replacing any sidewalks damaged during
construction of the project.
The developer will be responsible for installing pedestrian lighting in the Right-of Way
along South Locust Street consistent with the pedestrian lighting in place north or U.S.
Highway 34 and along the Wal-Mart development to the east.
No other utilities would be impacted by the development. [§18-2103(b) and §18-2111]
4. The Act requires a Redevelopment Plan provide for relocation of individuals and
families displaced as a result of plan implementation. This amendment does not
provide for acquisition of any residences and therefore, no relocation is
contemplated. [§18-2103.02]
5. No member of the Authority, nor any employee thereof holds any interest in any
property in this Redevelopment Project Area. [§18-2106]
6. Section 18-2114 of the Act requires that the Authority consider:
a. Method and cost of acquisition and preparation for redevelopment and estimated
proceeds from disposal to redevelopers.
The developer is proposing to purchase this property for redevelopment for $1,450,000
provided that TIF is available for the project as defined. The cost of property acquisition
is being included as a TIF eligible expense. Costs for site preparation including, grading
and fill is estimated at $300,000. Utility extensions, storm water, sewer electrical and
water are estimated at $525,000, Building plans and engineering are expected to cost
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$175,000. Public required landscaping including the pedestrian lighting along Locust
Street is estimated at $325,000. The cost to pave Lake Street is $375,000. An additional
$15,000 of expenses for legal work, fees and financial tracking of this project are also
included as eligible expenses for a total maximum TIF request of $3,115,000. It is
estimated based on the proposed increased valuation of $5,800,000 will result in
$1,920,000 of increment generated over a 15 year period more than the allowable
expenses for this project.
No property will be transferred to redevelopers by the Authority. The developer will
provide and secure all necessary financing.
b. Statement of proposed method of financing the redevelopment project.
The developer will provide all necessary financing for the project. The Authority will
assist the project by granting the sum of not less than $1,920,000 from the proceeds of the
TIF Indebtedness issued by the Authority. This indebtedness will be repaid from the Tax
Increment Revenues generated from the project. This indebtedness will be repaid from
the Tax Increment Revenues generated from the project. TIF revenues shall be made
available to repay the original debt and associated interest according to the approved
contract
c. Statement of feasible method of relocating displaced families.
No families will be displaced as a result of this plan.
7. Section 18-2113 of the Act requires:
Prior to recommending a redevelopment plan to the governing body for approval, an
authority shall consider whether the proposed land uses and building requirements in the
redevelopment project area are designed with the general purpose of accomplishing, in
conformance with the general plan, 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 dangers, adequate provision for light and air, the promotion of the
healthful and convenient distribution of population, the provision of adequate
transportation, water, sewerage, and other public utilities, schools, parks, recreational and
community facilities, and other public requirements, the promotion of sound design and
arrangement, the wise and efficient expenditure of public funds, and the prevention of the
recurrence of insanitary or unsafe dwelling accommodations or conditions of blight.
The Authority has considered these elements in proposing this Plan Amendment. This
amendment, in and of itself will promote consistency with the Comprehensive Plan, in
that it will allow for the utilization of vacant property at this location. This lot is
surrounded located at a major intersection is south east Grand Island. The property has
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been within a blighted area for more than 20 years and has been vacant for more than 10
years without development. This will have the intended result of preventing recurring
elements of unsafe buildings and blighting conditions.
8. Time Frame for Development
Development of this project is anticipated to be completed between September of 2016
and December of 2017. Excess valuation should be available for this project for 15 years
beginning with the 2018 tax year.
9. Justification of Project
This is infill development in an area with all city services available. It was anticipated by
many that this area of the community would flourish after the Locust Street interchange
from I-80 opened and Wal-Mart built at one corner of this intersection in 2004. Since
that that time there has been very little change in the area. Proposed projects like this one
and the housing project to the north and east area likely to spur the development that was
expected 12 years ago. This project does not propose to tear down any buildings with
historic value.
10. Cost Benefit Analysis Section 18-2113 of the Act, further requires the Authority
conduct a cost benefit analysis of the plan amendment in the event that Tax Increment
Financing will be used. This analysis must address specific statutory issues.
As authorized in the Nebraska Community Development Law, §18-2147, Neb. Rev. Stat.
(2012), the City of Grand Island has analyzed the costs and benefits of the proposed Wild
Bills Fun Center Project, including:
Project Sources and Uses. A minimum of $1,920,000 in public funds from tax
increment financing provided by the Grand Island Community Redevelopment Authority
will be required to complete the project. This investment by the Authority will leverage
$9,240,000 in private sector financing and investment; a private investment of $4.81 for
every TIF dollar investment.
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Use of Funds.
Description TIF Funds Private Funds Total
Site Acquisition $1,450,000 $1,450,000
Site preparation $80,000 $220,000 $300,000
Paving Lake Street $375,000 $375,000
Utilities, Storm, Sewer,
Water, Parking
$525,000 $525,00
Landscaping $325,000 $325,000
Legal and Plan $15,000 $15,00
Architecture/Engineering $175,000
Building Costs $6,660,000 $6,660,000
Personal Property $1,335,000 $1,335,000
TOTALS $1,920,000 $9,240,000 $10,620,000
Tax Revenue. The property to be redeveloped is has a January 1, 2015, valuation of
approximately $586,964. Based on the 2015 levy this would result in a real property tax of
approximately $12,968. It is anticipated that the assessed value will increase by $5,791,858 upon
full completion, as a result of the site redevelopment. This development will result in an
estimated tax increase of over $127,986 annually resulting in approximately $1,920,000 of
increment over the 15 year period. The tax increment gained from this Redevelopment Project
Area would not be available for use as city general tax revenues, for a period of 15 years, or such
shorter time as may be required to amortize the TIF bond, but would be used for eligible private
redevelopment costs to enable this project to be realized.
Estimated 2015 assessed value:$ 586,684
Estimated value after completion $ 6,378,722
Increment value $ 5,791,858
Annual TIF generated (estimated)$ 127,986
TIF bond issue $ 1,920,000
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area currently has an estimated valuation of $586,684.
The proposed extension improvements at this location will result in at least an additional
$5,791,858 of taxable valuation based on the Hall County Assessor’s office evaluation of
the project. No tax shifts are anticipated from the project. The project creates additional
valuation that will support taxing entities long after the project is paid off. The project
will not add any tax burdens to taxing entities. Therefore no tax shifts will occur.
(b) Public infrastructure and community public service needs impacts and local tax
impacts arising from the approval of the redevelopment project;
No additional public service needs have been identified. Existing water and waste
water facilities will not be impacted by this development. The electric utility has
sufficient capacity to support the development. It is not anticipated that this will impact
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schools. Fire and police protection are available and should not be impacted by this
development.
(c) Impacts on employers and employees of firms locating or expanding within the
boundaries of the area of the redevelopment project;
The proposed uses at this site would compete for entry level and part time positions along
with similar travel and entertainment type businesses located in and locating in the City.
(d) Impacts on other employers and employees within the city or village and the
immediate area that are located outside of the boundaries of the area of the
redevelopment project; and
This represents a new business within the city of Grand Island that will create some
competition with existing businesses. There are currently 2 bowling alleys operating in
Grand Island, Westside Lanes west of U.S. Highway 281 and Super Bowl on east
Bismark Road. Super Bowl also has a variety of arcade and amusement facilities that
would be similar to those proposed in this application. Skate Island on north Webb Road
has a miniature golf course and arcade games as well.
(e) Any other impacts determined by the authority to be relevant to the
consideration of costs and benefits arising from the redevelopment project.
This project will utilize a piece of property in the Grand Island City Limits that has been
vacant for at least more than 10 years. This corner was included in one of the original
blight studies for the City of Grand Island because of the development that was located
here and because it is a highly visible entrance corner. This will increase the options
available to tourists and residents for family entertainment. These facilities will
complement Fonner Park, the State Fair Grounds, Heartland Event Center, Island Oasis,
and similar civic tourist draws.
Time Frame for Development
Development of this project is anticipated to be completed during between September
2016 and December of 2017. The base tax year should be calculated on the value of the
property as of January 1, 2016. Excess valuation should be available for this project for
15 years beginning with the 2017 tax year. Excess valuation will be used to pay the TIF
Indebtedness issued by the CRA per the contract between the CRA and the developer for
a period not to exceed 15 years. Based on the purchase price of the property and
estimates of the expenses of utilities, streets and site preparation activities and associated
engineering/design fees, the developer will spend upwards of $3,115,000 on TIF eligible
activities.
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Wild Bills Fun Center
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 217
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA, SUBMITTING A PROPOSED
REDEVELOPMENT PLAN TO THE HALL COUNTY REGIONAL PLANNING
COMMISSION FOR ITS RECOMMENDATION
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), pursuant to the Nebraska Community
Development Law (the "Act"), prepared a proposed redevelopment plan (the
"Plan") a copy of which is attached hereto as Exhibit 1, for redevelopment of an
area within the city limits of the City of Grand Island, Hall County, Nebraska; and
WHEREAS, the Authority is required by Section 18-2112 of the Act to submit
said to the planning board having jurisdiction of the area proposed for redevelopment
for review and recommendation as to its conformity with the general plan for the
development of the City of Grand Island, Hall County, Nebraska;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The Authority submits to the Hall County Regional Planning Commission the
proposed Plan attached to this Resolution, for review and recommendation as to its
conformity with the general plan for the development of the City of Grand Island, Hall
County, Nebraska.
Passed and approved this ___ day of ___________, 2016.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By___________________________
Chairperson
ATTEST:
__________________________
Secretary
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Wild Bills Fun Center
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 218
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA, PROVIDING NOTICE OF INTENT TO ENTER INTO
A REDEVELOPMENT AFTER THE PASSAGE OF 30 DAYS AND OTHER MATTERS
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), has received an Application for Tax Increment
Financing under the Nebraska Community Development Law (the “Act”) on a
project within Redevelopment Area 2, from Wild Bills, (The "Developer") for redevelopment of an area within the city limits of the City of Grand Island as set
forth in Exhibit 1 attached hereto area; and
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), is proposing to use Tax Increment Financing on a project within Redevelopment Area 2;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
Section 1. In compliance with section 18-2114 of the Act, the Authority hereby
gives the governing body of the City notice that it intends to enter into the
Redevelopment Contract, attached as Exhibit 1, with such changes as are deemed
appropriate by the Authority, after approval of the redevelopment plan amendment
related to the redevelopment project described in the Redevelopment Contract, and
after the passage of 30 days from the date hereof.
Section 2. The Secretary of the Authority is directed to file a copy of this
resolution with the City Clerk of the City of Grand Island, forthwith.
Passed and approved this ___ day of __________, 2016.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By ___________________________
Chairperson
ATTEST:
___________________
Secretary
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