05-17-2017 Community Redevelopment Authority Regular Meeting Packet
Community Redevelopment
Authority (CRA)
Wednesday, May 17, 2017
Regular Meeting Packet
Board Members:
Tom Gdowski - Chairman
Glen Murray – Vice Chairman
Sue Pirnie
Glenn Wilson
Krae Dutoit
4:00 PM
City Hall
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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, May 17, 2017
Regular Meeting
Item A1
Agenda 5-17-17
Staff Contact: Chad Nabity
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COMMUNITY REDEVELOPMENT AUTHORITY
AGENDA MEMORANDUM
4 p.m. May 17, 2017
1.CALL TO ORDER. The meeting will be called to order by Chairman Tom Gdowski.
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.
2.APPROVAL OF MINUTES. The minutes of the Community Redevelopment
Authority meeting April 12, 2017, are submitted for approval. A MOTION is in
order.
3.APPROVAL OF FINANCIAL REPORTS. Financial reports for the period of April
1, 2017 through April 31, 2017 are submitted for approval. A MOTION is in order.
4.APPROVAL OF BILLS. Payment of bills in the amount of $14,080.77 is submitted
for approval. A MOTION is in order.
5.REVIEW OF COMMITTED PROJECTS AND CRA PROPERTIES.
6.LIFE SAFETY – HEDDE BUILDING. The Hedde Building LLC is requesting an
updated Life Safety grant for $240,000. The project at 201-205 W. Third proposes to
create 16 upper-story one-bedroom apartments. The CRA may grant up to $15,000
per new upper-story one-bedroom units and $20,000 per new upper-story two-
bedroom units. On Aug. 31, 2016, the CRA authorized $200,000 of Life Safety grant
funds for eight one-bedroom apartments and four two-bedroom apartments. A
MOTION is in order.
7.TAX-INCREMENT FINANCING REQUEST – HEDDE BUILDING. The Hedde
Building LLC is requesting $420,000 of tax-increment financing assistance for the
commercial and residential development of the three-story brick and wood-framed
building at 201-205 W. Third St. A MOTION is in order.
8. RETREAT TOPICS. Suggested topics for the July 12 retreat include a review of the
existing redevelopment areas, consideration of new redevelopment areas, defining a
priority focus, evaluating facade criteria and the number of times the same property
can receive grants, pinpointing catalyst projects and giving proximity preference for
grants in the same neighborhood.
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9. APPROVE RESOLUTION OR RESOLUTIONS TO PURCHASE OR SELL REAL
ESTATE.
None.
10. DIRECTOR’S REPORT.
This is an opportunity for the director to communicate on going actions and activities
to the board and public.
11. ADJOURNMENT.
Chad Nabity
Director
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Community Redevelopment
Authority (CRA)
Wednesday, May 17, 2017
Regular Meeting
Item B1
Minutes 4-12-17
Staff Contact: Chad Nabity
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OFFICIAL PROCEEDINGS
MINUTES OF
COMMUNITY REDEVELOPMENT AUTHORITY
MEETING OF
April 12, 2017
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 April
12, 2017 at City Hall 100 E. First Street. Notice of the meeting was given in the April 5,
2017 Grand Island Independent.
1.CALL TO ORDER. Tom Gdowski called the meeting to order at 4:00 p.m. The
following members were present: Gdowski, Glen Murray, Glenn Wilson, and Sue
Pirnie. Also present were: Director, Chad Nabity; Planning Administrative
Assistant Tracy Overstreet; Brian Schultz from the Grand Island Finance
Department; Grand Island City Council President Vaughn Minton; City
Administrator Marlan Ferguson; Austin Koeller of the Grand Island Independent;
and members of the public.
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 March 15,
2017 meeting was made by Wilson and seconded by Pirnie. Upon roll call vote,
all present voted aye. Motion carried.
3. APPROVAL OF FINANCIAL REPORTS. Schultz reviewed the financial reports
for the period of March 1, 2017 through March 31, 2017. A motion was made by
Pirnie and seconded by Wilson to approve the financial reports. Upon roll call
vote, all present voted aye. Motion carried.
4. APPROVAL OF BILLS. The bills were reviewed. A motion was made by Murray
and seconded by Wilson to approve the bills in the amount of $12,901.80. Upon
roll call vote, all present voted aye. Motion carried.
5.REVIEW OF COMMITTED PROJECTS & CRA PROPERTY. Nabity provided a
review of the committed projects. He said the Bosselman project on South Locust
has both exterior and interior work progressing. The Temple Lofts at the former
Federation of Labor building is nearing completion and the rooftop bonus rooms
have been installed. The final bill from the façade work at Master Stylists has
been submitted. The new sign is up at Othy’s Place at Third and Eddy and the
Vitrolite will be installed in the 2018 fiscal year. The $15,000 demo grant to
Habitat that was previously approved will likely be turned back because there
Grand Island Regular Meeting - 5/17/2017 Page 9 / 69
appears to be difficulty in getting legal title to the property. The South Locust
BID has been re-created and projects should be forthcoming. Denise McGovern-
Gallagher is working on the project with the Chamber and additional grant funds
have been obtained that the CRA grant will provide a match to. The Wing
Properties facade work continues. Regarding the Life Safety grants, Nabity said
the Hedde project is moving from an original 11-apartment layout to a 16-
apartment layout. The Federation of Labor project is nearing completion and the
Peaceful Root project in the former Brown Hotel is underway. There has been no
current interest on the purchasing of any CRA-owned property, Nabity said.
6. FACADE REQUEST – AUTO AMERICA - Kelly Rafferty and Marv Webb
were present with Scott Carpenter of Auto America to describe the $160,000
facade upgrade project. Carpenter is seeking $80,000 in façade grant assistance.
He said the business at 3036 S. Locust Street is one of the first you see in Grand
Island at the city’s south entrance. Murray asked about the level of funding
requested. He said he thought facade grants were typically at a maximum of 30
percent of the overall project and this appears to be at 50 percent. Nabity said
there have been other dollars invested by the Carpenters leading up to this project.
Gdowski said the Carpenters also own the property and that equity can be counted
into their contribution as well. Nabity said Pirnie and Dutoit served on the facade
review committee, which recommended in favor of the $80,000 façade grant.
A motion was made by Wilson and seconded by Pirnie to approve an $80,000
facade grant for Auto America. Upon roll call vote, all present voted aye. Motion
carried.
7.FACADE REQUEST – ELK’S LODGE - Carl Mayhew was present with
representatives of the Elk’s Lodge No. 604 to describe a facade update to the
lodge building at 631 S. Locust Street. The lodge has already put on a new roof,
resurfaced the parking lot and completed interior remodeling. The lodge is
seeking a $53,400 façade grant toward the overall $185,000 project to upgrade the
exterior lighting, flag pole, sign and exterior stucco. Nabity said the Elk’s
originally applied for a $38,000 façade grant, but during the facade committee
review process, the Elk’s brought additional options, the most expensive of which
totaled $53,400. Nabity said the committee recommended in favor of the $53,400
option. Mayhew said the Elk’s have since found another $6,000 in expenses and
would like to have that considered for a grant. Nabity and Pirnie said if a new
amount is to be considered they think it should be postponed, referred back to
committee and publicized for a future meeting. Mayhew advised the Elk’s group
to just proceed forward now. Wilson asked if the Elk’s have other debt on the
building. Lodge Secretary Barry Hopkins said the lodge took out a loan for the
roofing and parking lot project in 2015. Wilson also asked about square footage,
which Mayhew estimated at 14,000 to 15,000.
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A motion was made by Wilson and seconded by Murray to approve a $53,400
facade grant for the Elk’s. Upon roll call vote, all present voted aye. Motion
carried.
8. CAAP BLIGHT STUDY UPDATE . Nabity said the Grand Island Growth
Foundation, (which was corrected to the name of the Central Nebraska Growth
Foundation following the meeting), a foundation overseen by the Grand Island
Area Economic Development Corp. has commissioned a blight and substandard
study on the entirety of the 20-square-mile former ordnance plant, minus the two
areas that have already been studied. The contract is being handled and funded
privately. The CRA is not a party to the contract, he said. Nabity expects the study
results will go to the city council within the next 90 days.
9. RETREAT DATE AND TOPICS. Nabity said the retreat dates suggested in June
did not work for the majority of the CRA. The goal is to hold the retreat after the
legislature and before budget time. He asked CRA members to check their
calendars for July 12, which is a regular CRA meeting date. That afternoon could
be expanded into a retreat from 1 to 5 p.m. as attorney Mike Bacon is available on
that day. Murray said he would like to talk about the CRA being more proactive
rather than reactive. Instead of waiting for developers to bring forward projects,
he would like to discuss if there are any redevelopment areas or projects the
community wants that could be spurred by the CRA. Minton agreed there needs to
be more of a “method behind the madness.” He wants the CRA to set a vision. It
could be coordinated with the downtown and Grow Grand Island. Mayhew asked
to speak on the subject and stated he would like the CRA to place extra emphasis
on “project’s next door” to project’s the CRA has already invested in. That could
improve an entire block or a greater area and may inspire or spur development to
make a “more dramatic improvement.”
10.APPROVE RESOLUTION TO PURCHASE/SELL REAL ESTATE.
No resolutions.
11. DIRECTORS REPORT.
Nabity displayed the awards received at the Nebraska Planning and Zoning
Association Conference in Kearney in March and said the CRA played a big part in
those awards.
11. ADJOURNMENT. Gdowski adjourned the meeting at 4:40 p.m.
The next meeting is scheduled for May 17, 2017.
Respectfully submitted
Chad Nabity
Director
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Community Redevelopment
Authority (CRA)
Wednesday, May 17, 2017
Regular Meeting
Item C1
Financials
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 5/17/2017 Page 12 / 69
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
April-17 YEAR TO DATE BUDGET BALANCE USED
CONSOLIDATED
Beginning Cash 710,470 843,818
REVENUE:
Property Taxes - CRA 39,081 162,969 566,972 385,672 28.74%
Property Taxes - Lincoln Pool 6,948 45,193 195,863 152,857 23.07%
Property Taxes -TIF's 58,708 332,847 1,809,856 1,480,598 18.39%
Loan Income (Poplar Street Water Line)- - 8,000 8,000 0.00%
Interest Income - CRA 19 126 300 174 41.95%
Interest Income - TIF'S 1 5,120 23,720 18,600 21.58%
Land Sales - - 250,000 250,000 0.00%
Other Revenue - CRA 1,227 1,122 130,000 128,878 0.86%
Other Revenue - TIF's - - - - #DIV/0!
TOTAL REVENUE 105,983 547,377 2,984,710 2,424,779 18.34%
TOTAL RESOURCES 816,453 547,377 3,828,529 2,424,779
EXPENSES
Auditing & Accounting - 4,475 5,000 525 89.50%
Legal Services - 613 3,000 2,387 20.43%
Consulting Services - - 5,000 5,000 0.00%
Contract Services 7,088 32,925 75,000 42,075 43.90%
Printing & Binding - - 1,000 1,000 0.00%
Other Professional Services - 4,953 16,000 11,047 30.96%
General Liability Insurance - - 250 250 0.00%
Postage - 59 200 141 29.47%
Life Safety - - 265,000 265,000 0.00%
Legal Notices 16 106 500 394 21.11%
Travel & Training - 100 1,000 900 10.02%
Other Expenditures - - - - #DIV/0!
Office Supplies - 72 1,000 928 7.17%
Supplies - - 300 300 0.00%
Land 3,798 3,798 50,000 46,203 7.60%
Bond Principal - Lincoln Pool - 175,000 175,000 - 100.00%
Bond Interest - 11,306 20,863 9,557 54.19%
Façade Improvement - - 200,000 200,000 0.00%
Building Improvement 2,000 78,771 835,148 756,377 9.43%
Other Projects - - 50,000 50,000 0.00%
Bond Principal-TIF's - 266,313 1,815,774 1,549,461 14.67%
Bond Interest-TIF's - 9,403 17,463 8,060 53.85%
Interest Expense - - - - #DIV/0!
TOTAL EXPENSES 12,902 587,894 3,537,498 2,949,605 16.62%
INCREASE(DECREASE) IN CASH 93,082 (40,516) (552,788)
ENDING CASH 803,551 (40,516) 291,031 -
CRA CASH 587,427
Lincoln Pool Tax Income Balance 107,919
TIF CASH 108,205
Total Cash 803,551
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF APRIL 2017
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MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
April-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF APRIL 2017
CRA
GENERAL OPERATIONS:
Property Taxes - CRA 39,081 162,969 548,641 385,672 29.70%
Property Taxes - Lincoln Pool 6,948 45,193 198,050 152,857 22.82%
Interest Income 19 126 300 174 41.95%
Loan Income (Poplar Street Water Line)- 8,000 8,000 0.00%
Land Sales - 250,000 250,000 0.00%
Other Revenue & Motor Vehicle Tax 1,227 1,122 130,000 128,878 0.86%
TOTAL 47,275 209,410 1,134,991 925,581 18.45%
GENTLE DENTAL
Property Taxes 118 235 3,598 3,363 6.54%
Interest Income 0 1 404 403 0.28%
TOTAL 118 237 4,002 3,765 5.91%
PROCON TIF
Property Taxes 9,938 19,191 15,601 - 123.01%
Interest Income 1 3 4,101 4,098 0.07%
TOTAL 9,939 19,193 19,702 4,098 97.42%
WALNUT HOUSING PROJECT
Property Taxes 1,021 34,163 55,257 21,094 61.82%
Interest Income 0 5,116 19,215 14,099 26.62%
TOTAL 1,021 39,278 74,472 35,194 52.74%
BRUNS PET GROOMING
Property Taxes 293 7,080 13,500 6,420 52.44%
TOTAL 293 7,080 13,500 6,420 52.44%
GIRARD VET CLINIC
Property Taxes 218 436 14,500 14,064 3.01%
TOTAL 218 436 14,500 14,064 3.01%
GEDDES ST APTS-PROCON
Property Taxes 575 1,150 30,000 28,851 3.83%
TOTAL 575 1,150 30,000 28,851 3.83%
SOUTHEAST CROSSING
Property Taxes 316 9,596 18,000 8,404 53.31%
TOTAL 316 9,596 18,000 8,404 53.31%
POPLAR STREET WATER
Property Taxes 645 1,471 8,000 6,529 18.39%
TOTAL 645 1,471 8,000 6,529 18.39%
CASEY'S @ FIVE POINTS
Property Taxes 290 579 10,000 9,421 5.79%
TOTAL 290 579 10,000 9,421 5.79%
SOUTH POINTE HOTEL PROJECT
Property Taxes 1,725 3,449 90,000 86,551 3.83%
TOTAL 1,725 3,449 90,000 86,551 3.83%
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MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
April-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF APRIL 2017
TODD ENCK PROJECT
Property Taxes 133 265 6,000 5,735 4.42%
TOTAL 133 265 6,000 5,735 4.42%
JOHN SCHULTE CONSTRUCTION
Property Taxes 146 2,708 6,000 3,292 45.13%
TOTAL 146 2,708 6,000 3,292 45.13%
PHARMACY PROPERTIES INC
Property Taxes 244 487 11,000 10,513 4.43%
TOTAL 244 487 11,000 10,513 4.43%
KEN-RAY LLC
Property Taxes 22,688 23,622 85,000 61,378 27.79%
TOTAL 22,688 23,622 85,000 61,378 27.79%
TOKEN PROPERTIES RUBY
Property Taxes 61 121 1,500 1,379 8.08%
TOTAL 61 121 1,500 1,379 8.08%
GORDMAN GRAND ISLAND
Property Taxes 1,097 2,194 40,000 37,806 5.49%
TOTAL 1,097 2,194 40,000 37,806 5.49%
BAKER DEVELOPMENT INC
Property Taxes 71 1,830 3,000 1,170 60.99%
TOTAL 71 1,830 3,000 1,170 60.99%
STRATFORD PLAZA INC
Property Taxes 680 1,359 35,000 33,641 3.88%
TOTAL 680 1,359 35,000 33,641 3.88%
COPPER CREEK 2013 HOUSES
Property Taxes 1,744 8,967 80,000 71,033 0.00%
TOTAL 1,744 8,967 80,000 71,033 0.00%
FUTURE TIF'S
Property Taxes - 900,000 900,000 0.00%
TOTAL - - 900,000 900,000 0.00%
CHIEF INDUSTRIES AURORA COOP
Property Taxes 746 1,492 40,000 38,508 3.73%
TOTAL 746 1,492 40,000 38,508 0.00%
TOKEN PROPERTIES KIMBALL ST
Property Taxes 54 1,377 2,700 1,323 50.99%
TOTAL 54 1,377 2,700 1,323 0.00%
GI HABITAT OF HUMANITY
Property Taxes 85 170 8,000 7,831 2.12%
TOTAL 85 170 8,000 7,831 0.00%
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MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
April-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF APRIL 2017
AUTO ONE INC
Property Taxes 245 489 11,000 10,511 4.45%
TOTAL 245 489 11,000 10,511 0.00%
EIG GRAND ISLAND
Property Taxes 1,464 2,927 50,000 47,073 5.85%
TOTAL 1,464 2,927 50,000 47,073 0.00%
TOKEN PROPERTIES CARY ST
Property Taxes 172 3,979 8,000 4,021 49.74%
TOTAL 172 3,979 8,000 4,021 0.00%
WENN HOUSING PROJECT
Property Taxes 89 178 4,200 4,022 4.25%
TOTAL 89 178 4,200 4,022 0.00%
COPPER CREEK 2014 HOUSES
Property Taxes 7,758 32,678 200,000 167,322 16.34%
TOTAL 7,758 32,678 200,000 167,322 0.00%
TC ENCK BUILDERS
Property Taxes 9 17 3,000 2,983 0.57%
TOTAL 9 17 3,000 2,983 0.00%
SUPER MARKET DEVELOPERS
Property Taxes - 20,000 20,000 0.00%
TOTAL - - 20,000 20,000 0.00%
MAINSTAY SUITES
Property Taxes 1,317 14,535 25,000 10,465 58.14%
TOTAL 1,317 14,535 25,000 10,465 0.00%
TOWER 217
Property Taxes 284 14,471 12,000 (2,471) 120.59%
TOTAL 284 14,471 12,000 (2,471) 0.00%
COPPER CREEK 2015 HOUSES
Property Taxes 1,488 4,840 - (4,840)
TOTAL 1,488 4,840 - (4,840)
NORTHWEST COMMONS
Property Taxes 2,872 136,792 - (136,792)
TOTAL 2,872 136,792 - (136,792)
HABITAT - 8TH & SUPERIOR
Property Taxes 90 179 (179)
TOTAL 90 179 - (179)
KAUFMAN BUILDING
Property Taxes 35 70 (70)
TOTAL 35 70 - (70)
TOTAL REVENUE 105,983 547,377 2,968,567 2,424,779 18.44%
Grand Island Regular Meeting - 5/17/2017 Page 16 / 69
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
April-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF APRIL 2017
EXPENSES
CRA
GENERAL OPERATIONS:
Auditing & Accounting 4,475 5,000 525 89.50%
Legal Services 613 3,000 2,387 20.43%
Consulting Services - 5,000 5,000 0.00%
Contract Services 7,088 32,925 75,000 42,075 43.90%
Printing & Binding - 1,000 1,000 0.00%
Other Professional Services 4,953 16,000 11,047 30.96%
General Liability Insurance - 250 250 0.00%
Postage 59 200 141 29.47%
Lifesafety Grant - 265,000 265,000 0.00%
Legal Notices 16 106 500 394 21.11%
Travel & Training 100 1,000 900 10.02%
Office Supplies 72 1,000 928 7.17%
Supplies - 300 300 0.00%
Land 3,798 3,798 50,000 46,203 7.60%
Bond Principal - Lincoln Pool 175,000 175,000 - 100.00%
Bond Interest - Lincoln Pool 11,306 20,863 9,557 54.19%
PROJECTS
Façade Improvement - 200,000 200,000 0.00%
Building Improvement 2,000 78,771 835,148 756,377 0.00%
Other Projects - 50,000 50,000 0.00%
TOTAL CRA EXPENSES 12,902 312,177 1,704,261 1,392,084 18.32%
GENTLE DENTAL
Bond Principal 1,925 3,917 1,992 49.15%
Bond Interest 176 285 109 61.72%
TOTAL GENTLE DENTAL - 2,101 4,202 2,101 50.00%
PROCON TIF
Bond Principal 8,067 16,416 8,349 49.14%
Bond Interest 1,514 2,747 1,233 55.12%
TOTAL PROCON TIF - 9,581 19,163 9,582 50.00%
WALNUT HOUSING PROJECT
Bond Principal 29,523 60,041 30,518 49.17%
Bond Interest 7,713 14,431 6,718 53.45%
TOTAL - 37,236 74,472 37,236 50.00%
BRUNS PET GROOMING
Bond Principal 6,787 13,500 6,714 50.27%
TOTAL - 6,787 13,500 6,714 50.27%
GIRARD VET CLINIC
Bond Principal 218 14,500 14,282 1.50%
TOTAL - 218 14,500 14,282 1.50%
GEDDES ST APTS - PROCON
Bond Principal 575 30,000 29,425 1.92%
TOTAL - 575 30,000 29,425 1.92%
Grand Island Regular Meeting - 5/17/2017 Page 17 / 69
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
April-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF APRIL 2017
SOUTHEAST CROSSINGS
Bond Principal 9,279 18,000 8,721 51.55%
TOTAL - 9,279 18,000 8,721 51.55%
POPLAR STREET WATER
Bond Principal 397 8,000 7,603 4.96%
TOTAL - 397 8,000 7,603 4.96%
CASEY'S @ FIVE POINTS
Bond Principal 290 10,000 9,710 2.90%
TOTAL - 290 10,000 9,710 2.90%
SOUTH POINTE HOTEL PROJECT
Bond Principal 1,725 90,000 88,275 1.92%
TOTAL - 1,725 90,000 88,275 1.92%
TODD ENCK PROJECT
Bond Principal 133 6,000 5,867 2.21%
TOTAL - 133 6,000 5,867 2.21%
JOHN SCHULTE CONSTRUCTION
Bond Principal 2,562 6,000 3,438 42.71%
TOTAL - 2,562 6,000 3,438 42.71%
PHARMACY PROPERTIES INC
Bond Principal 244 11,000 10,756 2.22%
TOTAL - 244 11,000 10,756 2.22%
KEN-RAY LLC
Bond Principal 935 85,000 84,065 1.10%
TOTAL - 935 85,000 84,065 1.10%
TOKEN PROPERTIES RUBY
Bond Principal - 1,500 1,500 0.00%
TOTAL - - 1,500 1,500 0.00%
GORDMAN GRAND ISLAND
Bond Principal 1,097 40,000 38,903 2.74%
TOTAL - 1,097 40,000 38,903 2.74%
BAKER DEVELOPMENT INC
Bond Principal 1,687 3,000 1,313 56.23%
TOTAL - 1,687 3,000 1,313 56.23%
STRATFORD PLAZA LLC
Bond Principal 680 35,000 34,320 1.94%
TOTAL - 680 35,000 34,320 1.94%
COPPER CREEK 2013 HOUSES
Bond Principal 6,961 80,000 73,039 8.70%
TOTAL - 6,961 80,000 73,039 8.70%
Grand Island Regular Meeting - 5/17/2017 Page 18 / 69
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
April-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF APRIL 2017
CHIEF INDUSTRIES AURORA COOP
Bond Principal 746 40,000 39,254 1.86%
TOTAL - 746 40,000 39,254 1.86%
TOKEN PROPERTIES KIMBALL STREET
Bond Principal 1,269 2,700 1,431 47.01%
TOTAL - 1,269 2,700 1,431 47.01%
GI HABITAT FOR HUMANITY
Bond Principal - 8,000 8,000 0.00%
TOTAL - - 8,000 8,000 0.00%
AUTO ONE INC
Bond Principal 245 11,000 10,755 2.22%
TOTAL - 245 11,000 10,755 2.22%
EIG GRAND ISLAND
Bond Principal 1,464 50,000 48,536 2.93%
TOTAL - 1,464 50,000 48,536 2.93%
TOKEN PROPERTIES CARY STREET
Bond Principal 3,807 8,000 4,193 47.59%
TOTAL - 3,807 8,000 4,193 47.59%
WENN HOUSING PROJECT
Bond Principal - 4,200 4,200 0.00%
TOTAL - - 4,200 4,200 0.00%
COPPER CREEK 2014 HOUSES
Bond Principal 21,027 200,000 178,973 10.51%
TOTAL - 21,027 200,000 178,973 10.51%
TC ENCK BUILDERS
Bond Principal - 3,000 3,000 0.00%
TOTAL - - 3,000 3,000 0.00%
SUPER MARKET DEVELOPERS
Bond Principal - 20,000 20,000 0.00%
TOTAL - - 20,000 20,000 0.00%
MAINSTAY SUITES
Bond Principal 13,219 25,000 11,781 52.87%
TOTAL - 13,219 25,000 11,781 52.87%
TOWER 217
Bond Principal 14,186 12,000 (2,186) 118.22%
TOTAL - 14,186 12,000 (2,186) 118.22%
COPPER CREEK 2015 HOUSES
Bond Principal - 3,349 - (3,349)
TOTAL - 3,349 (3,349)
Grand Island Regular Meeting - 5/17/2017 Page 19 / 69
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
April-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF APRIL 2017
NORTHWEST COMMONS
Bond Principal - 133,919 - (133,919)
TOTAL - 133,919 (133,919)
HABITAT - 8TH & SUPERIOR
Bond Principal - - - -
TOTAL - - -
KAUFMAN BUILDING
Bond Principal - - - -
TOTAL - - -
FUTURE TIF'S
Bond Principal - - 900,000 900,000 0.00%
TOTAL - - 900,000 900,000 0.00%
TOTAL EXPENSES 12,902 587,894 3,537,498 2,949,605 16.62%
Grand Island Regular Meeting - 5/17/2017 Page 20 / 69
05/10/2017 16:20 |CITY OF GRAND ISLAND |P 1
briansc |BALANCE SHEET FOR 2017 7 |glbalsht
NET CHANGE ACCOUNT
FUND: 900 COMMUNITY REDEVELOPMENT AUTHOR FOR PERIOD BALANCE__________________________________________________________________________________________________________
ASSETS
900 11110 OPERATING CASH 93,081.62 803,551.47
900 11120 COUNTY TREASURER CASH .00 114,460.48
900 11305 PROPERTY TAXES RECEIVABLE .00 80,176.00
900 14100 NOTES RECEIVABLE .00 365,077.58
900 14700 LAND .00 575,369.33_______________________________________
TOTAL ASSETS 93,081.62 1,938,634.86_______________________________________
LIABILITIES
900 22100 LONG TERM DEBT .00 -281,669.00
900 22200 ACCOUNTS PAYABLE .00 -2,500.00
900 22400 OTHER LONG TERM DEBT .00 -1,280,000.00
900 22900 ACCRUED INTEREST PAYABLE .00 -6,289.06
900 25100 ACCOUNTS PAYABLE .00 -2,587.06
900 25315 DEFERRED REVENUE-PROPERY TAX .00 -5,914.00
900 25316 DEFERRED REVENUE-YR END ADJ .00 67,933.18_______________________________________
TOTAL LIABILITIES .00 -1,511,025.94_______________________________________
FUND BALANCE
900 39107 BUDGETARY FUND BAL - UNRESERVD .00 552,787.93
900 39110 INVESTMENT IN FIXED ASSETS .00 -575,369.33
900 39112 FUND BALANCE-BONDS .00 1,250,994.94
900 39120 UNRESTRICTED FUND BALANCE .00 -1,143,501.54
900 39130 ESTIMATED REVENUES .00 2,984,710.07
900 39140 ESTIMATED EXPENSES .00 -3,537,498.00
900 39500 REVENUE CONTROL -105,983.42 -547,626.49
900 39600 EXPENDITURE CONTROL 12,901.80 587,893.50_______________________________________
TOTAL FUND BALANCE -93,081.62 -427,608.92_______________________________________
TOTAL LIABILITIES + FUND BALANCE -93,081.62 -1,938,634.86=======================================
** END OF REPORT - Generated by Brian Schultz **
Grand Island Regular Meeting - 5/17/2017 Page 21 / 69
Community Redevelopment
Authority (CRA)
Wednesday, May 17, 2017
Regular Meeting
Item D1
Bills for 5-17-17
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 5/17/2017 Page 22 / 69
17-May-17
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 Apr-17 $ 3,245.51
Lawnscape Lawn mowing 408 W. Second $ 38.00
Grand Island Independent $ 16.01
Bond payment Lincoln Pool interest $ 10,781.25
Total:$ 14,080.77
Grand Island Regular Meeting - 5/17/2017 Page 23 / 69
Community Redevelopment
Authority (CRA)
Wednesday, May 17, 2017
Regular Meeting
Item E1
Committed Projects
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 5/17/2017 Page 24 / 69
COMMITTED PROJECTS REMAINING
GRANT
AMOUNT
2017 FISCAL YR 2018 FISCAL YR 2019 FISCAL YR ESTIMATED
COMP
Bosselman Real Estate $ 300,000.00 $ 100,000.00 $ 100,000.00 $ 100,000.00 2019
Federation of Labor - Ziller Residential
Grant (10/12/16)
$ 60,000.00 $ 60,000.00 2017
Federation of Labor - Ziller Facade
Grant (10/12/16)
$ 53,200.00 $ 53,200.00 2017
Habitat for Humanity - Demolition Grant
2403 W. North Front (2-8-17)
$ 15,000.00 $ 15,000.00 2017
Master Stylists - 114 W. 3rd - Jeanene
Campos (10/12/16)
$ 2,019.15 $ 2,019.15 2017
Othy's Place - 724 W. 3rd - Lindell
(10/12/16)
$ 26,961.00 $ - $ 26,961.00 2017 façade,
2018 sign
South Locust/Fonner Park BID (7/13/16) $ 30,000.00 $ 15,000.00 $ 15,000.00 2018
Wing Properties - 116 E 3rd St (9/9/15) $ 68,132.00 $ 68,132.00 2017
Wing Properties - 110-114 E 3rd St
(9/9/15)
$ 167,016.00 $ 167,016.00 2017
Total Committed $ 722,328.15 $ 480,367.15 $ 141,961.00 $ 100,000.00
FIRE & LIFE SAFETY GRANT TOTAL
AMOUNT
2017 FISCAL YR 2018 FISCAL YR 2019 FISCAL YR ESTIMATED
COMP
201-203 W. 3rd St. Anson (8/24/16)$200,000 $ 200,000.00 2018
Federation of Labor - Tom Ziller
(5/13/15)
$115,000 $ 115,000.00 2017
Peaceful Root - 112 W. 2nd St. (1/11/17)$50,000 $ 50,000.00 2018 - Q1
Total Committed F&L Safety Grant $365,000 $ 115,000.00 $ 250,000.00 $ -
Life Safety - Budget $ Remaining $ 265,000.00
Façade - Budget $ Remaining $ 200,000.00
Other Projects - Budget $ Remaining $ 806,376.97
Land - Budget $ Remaining $ 46,202.50
Land Sales - Budget $ Remaining ($250,000.00)
subtotal $ 1,067,579.47 $ -
Less committed ($595,367.15)($391,961.00)
Balance remaining $ 472,212.32 $ (391,961.00)
CRA PROPERTIES
Address Purchase Price Purchase Date Demo Cost Status
408 E 2nd St $4,869 11/11/2005 $7,500 Surplus
3235 S Locust $450,000 4/2/2010 $39,764 Surplus
604-612 W 3rd $80,000 6/10/2015 Surplus
April 30, 2017
Grand Island Regular Meeting - 5/17/2017 Page 25 / 69
2017 BUDGET AVAILABLE TO COMMIT
EXPENSES
2017
AVAILABLE TO
COMMIT COMMITTED
AVAILABLE TO
COMMIT
Life Safety $ 265,000.00 $ 265,000.00
Façade $ 200,000.00 $ 55,219.15 $ 144,780.85
Building Improvements $ 835,148.00 $ 835,148.00
Other Projects $ 50,000.00 $ (90,000.00) $ 140,000.00
Land $ 50,000.00 $ - $ 50,000.00
$ 1,400,148.00 $ (34,780.85) $ 1,434,928.85
Grand Island Regular Meeting - 5/17/2017 Page 26 / 69
Community Redevelopment
Authority (CRA)
Wednesday, May 17, 2017
Regular Meeting
Item G1
Life Safety Grant Request-Hedde Building
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 5/17/2017 Page 27 / 69
Grand Island Regular Meeting - 5/17/2017 Page 28 / 69
Grand Island Regular Meeting - 5/17/2017 Page 29 / 69
Grand Island Regular Meeting - 5/17/2017 Page 30 / 69
Grand Island Regular Meeting - 5/17/2017 Page 31 / 69
Grand Island Regular Meeting - 5/17/2017 Page 32 / 69
Grand Island Regular Meeting - 5/17/2017 Page 33 / 69
Grand Island Regular Meeting - 5/17/2017 Page 34 / 69
Grand Island Regular Meeting - 5/17/2017 Page 35 / 69
Grand Island Regular Meeting - 5/17/2017 Page 36 / 69
Community Redevelopment
Authority (CRA)
Wednesday, May 17, 2017
Regular Meeting
Item H1
TIF Request-Hedde Building
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 5/17/2017 Page 37 / 69
Grand Island Regular Meeting - 5/17/2017 Page 38 / 69
Grand Island Regular Meeting - 5/17/2017 Page 39 / 69
Grand Island Regular Meeting - 5/17/2017 Page 40 / 69
Grand Island Regular Meeting - 5/17/2017 Page 41 / 69
Grand Island Regular Meeting - 5/17/2017 Page 42 / 69
Grand Island Regular Meeting - 5/17/2017 Page 43 / 69
Grand Island Regular Meeting - 5/17/2017 Page 44 / 69
Grand Island Regular Meeting - 5/17/2017 Page 45 / 69
Grand Island Regular Meeting - 5/17/2017 Page 46 / 69
Grand Island Regular Meeting - 5/17/2017 Page 47 / 69
Grand Island Regular Meeting - 5/17/2017 Page 48 / 69
Grand Island Regular Meeting - 5/17/2017 Page 49 / 69
Grand Island Regular Meeting - 5/17/2017 Page 50 / 69
HALL COUNTY ASSESSOR'S OFFICE
llllllllllillilllllllllllillllllllilllilllllllllllllll Rear Property Record card
Data Provided By: JANET L. PELLAND County Assessor. Printed on 03102120'17 at',|0:19:24A
Firiet ttumOei acoooSaOg Current Owner HEDDE BUILDING LLC :
MapNumbel 3315-00-0-10001-06s-0001
Situs 201-00203-00205 W 3RD
LCgal ORTGTNAL TowN LT I BLK 6s
C/O AMOS ANSON
Aoareii 4234 ARrzoNA AVE
'city ST. Zip
Cadastral #
GRAND ISLAND NE 5BBO3_
0001-0050-0159
.Land Va!ge
:Ur.r.pf:.Vetqe .
,9-e!qs!ginse,T,9!9!valgq .
,Fl9ry.r.p!ion:............
rTaxable Value
.iiii:i:ii::::::::Uiii:::ii::iiiii:iiiii::;i;:;::;:r:;::i:ir:::i:i:
:ttttttttt::::::::E)Ale::!:ttl:i:itt_tltt_:t_:l::_::tlt:tlt:_:::ll
,12/ 16/ 2016 ,
:05 / 03/ 2076 |
'03 / 24 / 201L ,
1565
'7 L9
14
11 ,81i
101,218
District/TlF Fund
School Base
Affifiqled codg
Ngighbo_rhoo!
:G-I-e-gtbett 4lgq
'Greenbelt Loss
:Asses.srunt oata :.:.:.:.:.:.:.:,,: i : : :.,.:.:.:.:.:.:.:.:.:Efopqilyi.ClassificHtiUnlr,r,rlr.,r,l..:..i:i.i.i...tri:i:l:irrrr.r.iii..ri.
72 Status 01 imProved :
40-OOO2 GRAND I S-A Use O > Commercial
Zo_ni1.g 03 commerciai
105 Locatlon 01 urban
',
Cllysize i2,001-100,000 ,,LotSize 01 <1O,OOO sq. f'.. l
150,000
50,000
AI / OT / 2AL6 COMMERCIAL REVIE
AL/AI/2AL6 CO BRD : CORRECT
AL/ AI/ 2075'PERMITS NOT STAR
07/ AL/ 20A6 COMMERCIAL UPDAT
::::::::::::::::::::::::::::l:iii:iiiti:iti;i,::::::::::::::::iiiiii
::::]:]]:l:]ll: :i::i:::H99r(lPage:
?n1A-A6qR
2C76-2'7 L6
2A1t-2395
.i,iiiiiiiiiiiiiselU$i[tiisi6iyiiii..i....i......i.i.iiiiiit:;,],j,,,l
,,,..:,':.... . .,..,,,,,,,G.ran!or',
AMOS ANSON
EDWARDS BUILDING CORP
WAYNEE&ARDITHCMAY
2AA2 WAYNEE&ARDITHCM
2OOO MAY/ARDITH C
APPEAL REJEC
BOARD VALUE
BOARD VALUE
12t3L8 12,3182OO7 TAX ROLL
2004 2004 cr]-
2003 2003 cr].
2ao2 2402 crL
2OO1 TAXROLL
2000
2000
2000
2000
2AAa
)l t/ 1
23,331
,1 aaal
48 | 9 .-11
4 0, 113
40,113
40f11.3
63,450
53,150
1 9 ,1L4
63,450
63, 4 50
53,450
'7g,lLa
:::,::::I:ear:::: , ]':Billfll:::6*sei::::
2016 HEDDE BUILDING T,I,C
2015 EDWARDS BUlLDING 'ORP201.1 EDWARDS BUILDING CORP
2013 ED!^JARDS BUILDING CORP
2012 EDWARDS BUILDING CORP
2011 EDWARDS BUILDING CORP
2O1O WAYNE E & ARDITH C MAY
2OO9 WAYNE E & ARDITH C MAY
2OO8 WAYNE E & ARDITH C MAY
2OO7 i^JAYNE E & ARDITH C MAY
11, sq!
23,34I
,? 111
23 | 34L
23t341
23 | 34t
'23 | 31r
23,341
1i Q:1
48,9'7i
48 , 9'7'7
48 , 9'7'1
18 , 9'7 -',l
48t911
101/218
."j 1 ,216
72t3r8
1 2,3L8
12t3I8
12t3L8
1 2,3r8
Z, JLA
12t318
1 2 ,3\8
101,218
,11 | 216
12t318
'1 2t3I8
12t3I8
'7 2,3r8
'7 2 ,3t8
'12 | 3I8
: 1)1 ed
it641.44
1f558.05
I qt( l1
Grand Island Regular Meeting - 5/17/2017 Page 51 / 69
HALL COUNTY ASSESSOR'S OFFICE
lllllllllillllllllllllllll!!lllllllllllllllllillllllllil commerciar Propefi Record card
Data Provided By: JANET L. PELLAND County Assessor. Printed on 0310212017 at 10:19:29A
Utilities
.lmenliiei i
,Amenities 2
1.1 '1St BETAIL
(119)
15T STY
1.4 lSt\UAHEI-iOU5E STEF
@
3Eo sTY'siG
2ND STY DFF CE
'1.2 1 5i 344
ag)
I.3l5tWAREHOUSE SIOB
(@
'i :ii I ti l;tr'L liii riiiiii'r'
J iii't
ESMT S,T,G
.................ri..........- ....i
DenotBs @mmon nEll.
iirCef frfumnei aoooosaog Current Owner HEDDE BUILDING LLC
,Mip ttumOer -o-1OOO1-o6s-OOO1 :
siiui 201_oc2o3_oo2o5 w 3RD Address 4234 ARrzoNA AVE
Lesil oRTGTNAL rowN Lr 1 BLK 6s Citist.2ip GRAND TsLAND NE 58803-
Cadastral # 0001-00s0-0159
N"ighborhood 105 ,Topography Number of Units 81 12
Lot Width 66 Street Unit Value 2 ' 68
Units Buildable ,87 L2
Ygls-e-.!t-ej|g9 r!.q..
,Agieelner!
,!9!vgtue 23,34r
,:,:,Bl CI:i$t:,:; :,:.:':$E ci
looo L
1886 C
1886 C
1886 C
1885 C
1E85
30 Bt46A
10 2,524
2a 5,944
2A 8t464
2O E,16U
1,393
,RC.NLB,,,IIi,,,
:
-.-^-
c qrq
t I At q'
,,,,,,,,,,:::, ,, ,:, ,
::::::::,:::::::::::::::::::::-,:::::::::::::::::,':
:E1irr.l::l't,:',,$ilrelitt,,::,,.,.l{g,iiti....,....SC6j:RBN,,,,;,',P|iiii';,,F.un6t:
L: 1
I, Z
1, 3
1, 4
1, 5
1
353 RETA]L STORE
341 OEEICE BUILDING
406 WAREHOUSE, STORAGE
406 WAREHOUSE, STORAGE
612 R.ETAIL UNEIN BSMT
CANOPY, ROOE/SLAB
1 14 5L6 r a6a
1 14 2ri,6AC
L 't 165, 488
L '7 2rA ,3L6
L '7 161 ,254
2i i 150
2AO
200
2aa
2aa
200
396
244
3r2
396
396
912
94*
942
94*
942
942
Total Building Area
Total Building RCN
Total Refinements
Total Replacement Cost New
Total Phys. & Func. Depreciation
RCN Less Phys, & Func,
Economic Depreciation
Ag919ed Ecolgmic deple-gf qtion
T-ot4.! RCN Less Depreclalion
Addit!onal Lump Sumq
Land Value
iotii Coitviiue
iV;iu; ierRd u"i(
rv3tgg-.?9tsq: Ft, .
:.: P+Tt..y.s-PP...I9r.. 99F-T
33,8401
1,2t o, 7 es iVi;;n;, & Cotiection ioit
27, LSO,Effective lncome
L t 297, 9 B,Total Expe-nses
l1-. 220, 071 ),Net Operating lncome
7 7, 87 l,Capllqflzalign Ralg
illtg.-oJltg.APPf-olct . ... ..
,Final Value Reconciliation
77 ,8'17:
23,34L
10L,2L8'.
20.00?
35. 00?
i dal
1 3, 604
4,16L
8/ 843
72. AAZ
tal,2l8
cAicL;iarroNs suppiino e'i'r?i*rr^rr ;?u 1L9lr!. h9rell:
Grand Island Regular Meeting - 5/17/2017 Page 52 / 69
HALL GOUNTY ASSESSOR'S OFFICE
lllllllllllllllllllllllllllllllllllllllillllllllllllllllllll Rear property Record card
Data Provided By: JANET L. PELLAND County Assessor. Printed on 0310212017 at 10:21 :34A
,Fiicei trtumOgi :sggssgst 4 :Cunent Owner ,HEDDE BUTLDING LLC
it. " ":t. r ii:.,.::i:i:ri; :i1i:jri-I:;.i:,';)r..':_i
Map Numbel
Situs 201-203-205 W 3RD
Legit wHAT rF EoR AMos ANSoN, oRrcrNAL
TOWN G I, LT 1 BLK 65
C/O A]"1OS ANSON
Aaaress 4231 ARIZONA AVE
CitvSr.2ip GRAND TsLAND NE 68803-
Cadastral #
Status ,01 ImProvedDistricUTlF Fund L2Land Value-
:!mpI: vi!!19
,91111v.!!9!n99.
,T,q!3tVltue
,EIgmplt9n9...
Taxable Value
1, B2B, L55
7 ,85L | 496
r aqt 1q6
S-chool Bas-e
Atlitiated cgde
40-0002 GRAND ISLA Use 03 Commercial
Neighborlggd .... 1os
g-reJnge!! Aret l
Greenbelt Loss :
Location 01 Urban
LotSize 0l <l0,OOO sq. ft.
tfirfiauii:::'::t,"",',
:Yeai.:::::ltl::::t)':::l:ll;::tl::::::::,,,,]:,:,:,:,':,l,,,,DgSCfiptiOh,:,:,,t,ii
iE*emptr
l
:,::::::::::::::::::::::j::'::,:::j::::::::::::::::::::::,,,:1:,:::::::::::::::: :, 1,]:::::::
,,.,,,,i;iebie, :,,,,, tri;s I
',"
Ho Photo on Flle.
Grand Island Regular Meeting - 5/17/2017 Page 53 / 69
HALL COUNTY ASSESSOR'S OFFICE
lllflllllilllillllilllllllllillllillllilllllllllllllilllll commerciar Property Record card
Data Provided By: JANET L. PELLAND County Assessor. Printed on 0310212017 at '10:21 :50A
Parcel Number 99999997 4
,Ivl9p-.!\lqmbel,s-i!g: .
Legal
:
::!:!:i::rirlrl::rir!rl:l:!:l:l:i:l:i:::::i::;l:i:iii:i:i:i:il
,NeighboJhood
Lot Width
'!gr.DgpJlt ........
Units Buildable
'viir" uetnoo
Cuflent Owner HEDDE BUILDTNG L1'3
201--03-./Ob U rRt Address 4234 AF:7O\a q.l
WHAT IF EOR AMOS ANSONT ORIGINAL cityst.zip GRAND ISLAND NE 68803-
TOWN G I, LT 1 BLK 65 CAdASITAI#
105 Topography
511eet
Utilities
r."niiieJ i
Amenities 2
1.] 1 SI FETL FIN BSMT
4.-A\1:::)
79
1l
q iils6 2l lst0ffCFlNEsrlT
3t ISIWHSE ESMI IJNF i 9
( Mr])
ELEUATOF ETC( J-Err )
Densles conmon wal.
Number of Unlts
,U1it Vatue
naj99!m9t!...
,Lot Value
,:':'Brldgi1:.,,:,:':,:$€ct:,Sec, RCN Phys';.,,,' Func'
1t aaa /llq
1 8 L3'1 ,828 4 o*
1 8 r'l/i6a 40?
I I 1",804 8'6
:r:rr::::::CostiApFioa[ih.i.Fiorni:iMaiiltr,lt:tll gtlswift
.ECIN.EE:.:.:.:..
:
126, OCC
82, A9 ,- ,
/U, )5t)
1al ?a).
ELEV. SELECTOMATIC 195'2
1 1 6-3 RETAIL F]N BSMT 1952 C
2 L 608 OFFICE BSMT FIN 1952 C
3 1 626 WHSE BSM? UNF 1952 C
1
200 10 2,L25 236
200, 10 ?,52A 2a4
2OO 40 3/ 815 266
rgtaf _Bqifd!ns Alea
,r-olgt Buitdilg_ RcN
,Total Refinements
toiai nipliCement coii ttew
,Total Phys. & Func. Depreciation
:RcN Less Phys. & Func.
Economic Depreciation
,Accrued Economic depreciation
,r_gQ! RGN L9!! D9pleqigtigt!
aa$!!ig1al Lump $gms ..
Land Vatug
J9!9!co9! v-qlye
Value Pe1 R9s Unit
v3lu9.P91$9, F-!, . .. .
:. :.P+TA ..V.s- I P...q98 . 99.s- T 9+!991+T. -r 9ry,s.
3 67, 4 I 2 rv€99!!c!, &. 9 g!!gcl!g.I. !_oli210, 000 :Effective Income
5'i i , 1a2 fotii Eipeniei
\2'1 5,1s0) ,Net Operating lncome
3 o 1-, 7 32,Capi!a!!zq!!on Rale
,lncgme App_1999-n . ..
:F i I'3 l. Ye!9 9- R999-119-il i {i9n
30L ,7 32 |
i
30L,'132,
35.67 '
s-9lfl:-rFD BY MARSHALL & SWIFT which herebY r- er!e- -.L rig h'rei'
Grand Island Regular Meeting - 5/17/2017 Page 54 / 69
HALL COUNTY ASSESSOR'S OFFICE
lllllllllIllilllillllillllillllillllillllillllllllilllll commerciar Property Record card
Data Provided By: JANET L. PELLAND County Assessor. Printed on 0310212017 at10:21'.454'
t' "*':.r..!:r,' .r.1 !i.::4...:.t " "-'-'" """ '
126r 000
1/Ei3
252,645
Parcel Numbel 99999991 4
Mip trtumUei
ti.i.;tt.liliitliiiiiitlll.:.l.i.:.:.:.:.:.:.:.:.:.:.tt:.:ittiiiliiiii:i:i:i::::::::::::::::::::i::itittoltlnAinhiPt::infOnrlation
Current Owner HEDDE BUILDING LLC
aaarCit 4234 ARrzoNA AVE
Citi St.2ip cRAND TsLAND NE 688ur3-
Cadastral #
Number of Units B'i i-2
2"68
.J, J+I
Situs
Legit
Neighborhood 105
Lglwidlh :65
L9J DgPlh. ........L32
Units Buildable :87 L2
y3lse yelneg :?l
:::ltillt:::::::::::::::::::::::t:t:t:tlt:]lt:]:ili::i:i:i]::i:lti:::,tii,ii:'IlIi:i:i:i:i:i:i:i:i:i:i:i:i:t:.:iitt:ttitili|:i
TopographY
Slreet
Utilities
Amenities 1
Amenities 2
201-203-205 W 3RD
WHAT IF FOR AMOS ANSON, ORIGINAL
TOWN G i, LT 1 BLK 65
ELEV. SELECTOMATIC 1.952
CANOPYT ROOE/SLAB L952
1 1 344 CFFICE BUILDING L952 C
1952 C
2aa 40 2,52A 2a4 1 18 225,868 4aZ
2OO ,1 O 5t12L 308 1 18 42L,aO8 40?
1
155
4 0?
4CZ
210, ooo
3, AZL
2 I 353 RETAIL STORE
Totat Buitdlng Atgl
T-otal Build!ns- RcN
Total Refinements
rotii nepliCem;nt Coat Mw
Total Phys. & Func. Depreciation
RCN Less Phys. & Func.
:Economic Depreciation
,Accrued Economic deple,cia!!on
,Agdi!ign9.!.l,.gtr.P.9!lllt9... .
Land Value
,Total Cost Value
vilue nei nei unli
!g!ue- Pe1.$9, FJ,
:*DATA USED EOR COST CALCULATIONS
"' Contract ' "": . ,' 'Maiketa a/1
646,31 6 Vacancy & Collection Loss
. , r, r-- Effective lncome
oze 1 : t- Total ExpenseS
(343, 958 ) Net Operating lncome
t'-), r t CaPitalization Rate
lncome APProach
Final Value Reconciliation
tr1q otq
23 t 34L
539 | 28a
65. 14
-:goo'1Ep 3y r,4ARShALL d, sh:tT wnicn n-reby --.erv6s o... t'--..'.' ''rein.
i ENTBY. /tilr'
Ii:] 31
i
l
i4 ! 6t'95
,91
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r a.i1! ) l,* *i
lli tE i
DenolBs @trimon wa l.
Lot Value
Grand Island Regular Meeting - 5/17/2017 Page 55 / 69
HALL COUNTY ASSESSOR'S OFFIGE
lllllllllllllllllllillllillllillllillllillllilllllllillll commerciar Property Record card
Data Provided By: JANET L. PELLAND County Assessor. Printed on 0310212017 at 10:21 :39A
iircetruumuer999999g14currentownerHEDDEBUILDINGLLC
Iulgp Nymbg1
Situs
tes;a
Number of Units 81 12
201-203-205 r,'r 3RD
WHAT IE EOR A]',1OS ANSON, ORIGINAL
TOWN G I, LT 1 BLK 65
Address
Citv 5t. 2ip
Cadastral #
4234 ARIZONA AVE
ENAUO ISLAND NE 68803_
unlt Vgtug
Adjustmgq!
Lot Value
Neighbo$ood .10s
lct w-iuth
t--gt ogPlt
,unit9 Bqftdgbte
Value Method
::,:BldUi
,Tota! Building Area
r9t3!p.qllains RcN.. .
T_glgt Refinementg
,rrtg ! $9 pf g99m9.n!..-c 9:J. N 9y
,T_g!at Pt1ys, & Fg19, Dgp,lecietiCn . ..
RpN Less PLryg,9 Eu!!9-,.
Economlq Deplegialign
,4ggr9sq Fsgrgnlg ggPr-egisltstt
ir_9!.q.1 RcN 1999 Dgpryc i3ti9r
Additional Lump Sums
L1l!d vitue
Total Cost Value
,Value Per Sq. Ft..*DATA USED FOR COST CALCULATIONS
Topoglaphy
,Slreetulil!lie:
,Amenitles 1
:Amenities 2
ELEV. SELECTOMATTC
1 1 352 F.ESIDENCE/ MULTIPLE
2 1 352 RESIDENCE, MULTIPLE
3 1 352 RESIDENCE, MULTIPLE
4 L 352 RESIDENCE, MULTIPLE
5 1 352 RESIDENCE/ MULTIPLE
6 1 352 RESIDENCE, MULTIPLE
1 I 352 RESIDENCEI MULTIPLE
E i 352 RESIDENCE, MULTIP]-E
q rol CoMM'l--"
SER '-CJ -ts- ILD:
L952 C
L952 C
L952 C
1952 C
L952 C
L952 C
L952 C
-L 952 :C
t952 C
1
40 858
4a 909
40 922
4A 144
40 528
,1 0 198
40 s03
40 i33
10 2t632
210,000
15 51,835
15 58,094
15 58,925
t5 44 | 993
15 33,144
15 51, 000
15 32,)-41
_15 qb,:{o
15 249, a1C
126, aaa,
?, qal
:e nca
26, 996,
20!246'
30,600,
2A ,1-a8
149,424'
U aat
2aa
2ao
2aa
2aa
200
200
2AA
200
L22
734
L32
9L
L24
92
L26
323
4AZ
4 08
4 0c
4 0?
4AZ
4 08
4AZ
403
4 0*r
1
1
1
1
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I
t-
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6 2 e, 6 2 4 :yig3ngy_ & collgg!!.en.l-..9::-
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13 e . 62 4 rlotS! .Flpg.nggJ.. . .. .............(335, 8s0 ) :N9! opglqti4S tlqgme
5 a 3, 7 1 4,cf pilf lif. glign .Bgtg... ....
:!nggllr_e. App.rgg-c.h .
,FiniiVirne neConiiriition
503t114
5a3,1 1 1
58.67
SUPPLIE_D BY MARSHALL & StrdIFT which hereby reservel 3I1
3.2 r 5t 352
$203
2.'r 1&352s202 @
righ.t hgrern,
503 ,'7'7 4
Grand Island Regular Meeting - 5/17/2017 Page 56 / 69
HALL COUNTY ASSESSOR'S OFFICE
llllllllllllllilllllllllllllllllllillllllllllllllllllllllll commerciar Property Record card
Data Provided By: JANET L. PELLAND County Assessor. Printed on 0310212017 at 10:21 :55A
1
2OO: 40, 858
2OO: 40,7t44L
2aa, 4a 948
200, 4a, 704
2Aa, 40, 184
2aa 4 0 664
200, 40, 378
200 40 694
)T a aaa
1 15 54,835
1 15 I 66, 530
1 15 60,587
1 15 44,993
1 15 30,9]2
f , i5 42,436
1 15 21tL58
1 15 14,354
1 15 265,59L
126, OOOI
32,901
1C OT a:
:36,3521
26,996i
10 trtro
:25 | 4621
L4 | 495i
26,6121
159,4r51
::::::::::::::::::::::::::::j:::::::::::::i:i:::::::::::::::::::
:i:::ii:li:i:i:i:i:i:i:::::ili:;:;:!::ii:iiiii:i:::i:!:i:i:i:;:,
:Parcel Number
Map Number
:s!!u:..,Legal
:
iiiii:i:iii:::::Xiiii:!:illi:iii:i:i:i:::::iXii*:!:
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,u1it9 Bqildqblg
Value Method
99999997 4
201-203-205 I/,1 3RD
WHAT IF EOR AMOS ANSON, ORIGINAL
TOWN G I, LT 1 BLK 65
current ownel HEDDE BITTT,DTNG LLC
Address_
City St. Zip
Cadastral #
105 ,Topog1aphy
:9jleet. .
,u!!!ilie,s-...... .
,Amqlitlgs !
,Amenities 2
123.1 ARIZONA AVE
GRAND ISLAND NE 68803-
Number of Units
Unit Value
Adjustment
Lot Value
.:.:.BldEi:,i.:.:.:.:SeCi ,Aitddt:::,
ELEV. SELECTOMATIC
1 1 352 RESIDENCE, MULTIPLE
2 1. 352 RESIDENCE/ MULTIPLE
3 1 352 RESIDENCE, MULTIPLE
4 I 352 RESIDENCE, MULTIPLE
5 1 352 RESIDENCE, MULTIPLE
6 1 352 RESIDENCE, MULTIPLE
] 1 352 RESIDENCEI MULTIPLE
8 1 352 F.ESIDENCE, MULTIPLE
C';MYUNI - YI T /ql, SER'ICf-B--;D]
,Total Building Area
:Ie!?l P'rilgins B9ry
,T-o!al Refinements
,19!{ Repla99rn9-I!.999!. l}l 9Y
,Tg$t Pfy-s,.! f u11_c_, D,gp1gciatiel
,n9.N Lg::.Blr.y9, 9..1t!l!9-:. ..
E9o-n9mic Deplgcialign
i499lg9g. E99l'99.'i9 g9Pr9..9i3li -o-11.. .......
:r_91tt RcN L99s_ Dgp1gci3tio-n .
AdditionltLump Sums
Lald Vqfye
,Total Cost Value
,Value Per Sq. Ft.
1952 C
1952 C
L952 C
i952 C
)"952 C
1952 C
L952 C
1952 C 200
L22
L46
136
108
81
L28
a/
r22
331
4 C8
4AZ
40?
4AZ
4 0?
4 0?
4 !Z
4A%
4az
40*4C 2,822
8t593
631, s16 Vacancy & Cotlecllon Loss
2 L 0, 000 Eff-ective lncome
84 4, s16 fotil expgnses
',
( 337, 806 ) Net Operatfng lncome
506 ,1 IO Capitaf izalion Rate
!ngomg APPloach
Final Value Reconciliation
506,710
506,710
5t. 97
!.1 1st491 - -fttf4.ron er1i
< z.ozz )
fl30t1
8303
rS4B]
s302
?.1 1Sr:52
@
0€noles common s3l.THIBD FLOOR
*DATA USED FOR CCST CALCULATIONS. SUPFLIED BY MARSHALL & SWIET WhlCh hCTCbY reserves aIi right herein.
soa,iio
Grand Island Regular Meeting - 5/17/2017 Page 57 / 69
Redevelopment Plan Amendment
Grand Island CRA Area 1
May 2017
The Community Redevelopment Authority (CRA) of the City of Grand Island
intends to amend the Redevelopment Plan for Area 1 with in the city, pursuant to
the Nebraska Community Development Law (the “Act”) and provide for the
financing of a specific infrastructure related project in Area 1.
Executive Summary:
Project Description
THE REDEVELOPMENT OF THE BUILDING LOCATED AT 201-205 W 3rd
STREET FOR COMMERCIAL AND RESIDENTIAL USES, INCLUDING FIRE/LIFE
SAFETY IMPROVEMENTS AND BUILDING REHABILITATION AND
REMODELING.
The use of Tax Increment Financing to aid in rehabilitation expenses associated with
redevelopment of the Hedde Building located at 201-205 W 3rd Street into a mixed use
building containing 16 one bedroom apartments on the second and third floors and
commercial space on the first floor and the basement. 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 renovating this historic building into a combination
of commercial space and market rate residential units. The addition of the residential
units is consistent with the downtown redevelopment plan and priorities to add 50
residential units downtown by 2019. With these units, 31 new residential units have been
proposed since 2015. This project would not be possible without the use of TIF.
Hedde Building LLC is the owner of the property. Hedde Building LLC purchased this
property in 2016. The purchase price is not included as an eligible TIF activity. The
building 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
remodeling and rehabilitation of this building. The Grand Island Community
Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated over
the 15- year period beginning January 1, 2019 towards the allowable costs and associated
financing for the renovation of this building.
TAX INCREMENT FINANCING TO PAY FOR THE REHABILITATION OF THE
PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY:
Property Description (the “Redevelopment Project Area”)
201-205 W 3rd Street in Grand Island Nebraska (Hedde Building)
Legal Descriptions: Lot One (1) in Block Sixty -Five (65) Original Town, Grand
Island, Hall County, Nebraska
Grand Island Regular Meeting - 5/17/2017 Page 58 / 69
Existing Land Use and Subject Property
Grand Island Regular Meeting - 5/17/2017 Page 59 / 69
The tax increment will be captured for the tax years for which the payments become
delinquent in years 2019 through 2033 inclusive.
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 rehabilitation of this
vacant historic building for commercial and residential uses as permitted in the B3
Heavy Business Zoning District.
Statutory Pledge of Taxes.
In accordance with Section 18-2147 of the Act and the terms of the Resolution
providing for the issuance of the TIF Note, the Authority hereby provides that any ad
valorem tax on the Redevelopment Project Area 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, 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.
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 December 19, 2000.[§18-2109] Such
Grand Island Regular Meeting - 5/17/2017 Page 60 / 69
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 rehabilitate the building for permitted uses on this property as defined by
the current and effective zoning regulations. The Hall County Regional Planning
Commission held a public hearing at their meeting on June 7, 2017 and passed resolution
_______ confirming that this project is consistent with the Comprehensive Plan for the
City of Grand Island.
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 1 provides for real property acquisition and this plan
amendment does not prohibit such acquisition. There is no proposed acquisition by the
authority.
b. Demolition and Removal of Structures:
The project to be implemented with this plan does not provide for the demolition and
removal any structures on this property.
c. Future Land Use Plan
See the attached map from the 2004 Grand Island Comprehensive Plan. All of the area
around the site in private ownership is planned for Downtown Commercial development;
this includes housing and commercial uses within the same structure. This property is in
private ownership. [§18-2103(b) and §18-2111] The attached map also is an accurate site
plan of the area after redevelopment. [§18-2111(5)]
Grand Island Regular Meeting - 5/17/2017 Page 61 / 69
City of Grand Island Future Land Use Map
Grand Island Regular Meeting - 5/17/2017 Page 62 / 69
d. Changes to zoning, street layouts and grades or building codes or ordinances or
other Planning changes.
The area is zoned B3-Heavy Business zone. No zoning changes are anticipated with this
project. No changes are anticipated in street layouts or grades. 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 rehabilitating the existing building. The developer is not proposing to
increase the size of the building and current building meets the applicable regulations
regarding site coverage and intensity of use. [§18-2103(b) and §18-2111]
f. Additional Public Facilities or Utilities
Sewer and water are available to support this development. The developer will be
required to extend a water line capable of providing sufficient water for the sprinkler
system required to convert this building in a multifamily apartment building.
Electric utilities are sufficient for the proposed use of this building.
No other utilities would be impacted by the development.
The developer will be responsible for replacing any sidewalks damaged during
construction of the project.
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 property, owned by the
developer, is vacant and has been vacant for more than 1 year; 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] Sue Pirnie a member of the
Authority is an investor in Hedde Building LLC. As an investor in the project she will
recuse herself from any decisions regarding this project. No other members of the
authority or staff of the CRA have any interest in this property.
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.
Grand Island Regular Meeting - 5/17/2017 Page 63 / 69
The developer owns this property and acquisition is not part of the request for tax
increment financing. The estimated costs of rehabilitation of this property is $2,840,322
along with $295,000 for site improvement and planning related expenses for
Architectural and Engineering services of $250,400 and are included as a TIF eligible
expense. Legal, Developer and Audit Fees including a reimbursement to the City and the
CRA of $124,373 are included as TIF eligible expense. The total of eligible expenses for
this project is $3,510,095. The CRA has been asked to grant $240,000 to this project to
offset the cost of life safety improvements and $300,000 for façade improvements. The
total eligible expenses for this project less other grant funds by the CRA is $2,970,095.
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 $603,425 from the proceeds of the TIF it is
anticipated that this will generate a loan of $420,000. 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 after January 1, 2019
through December 2033.
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. This
will have the intended result of preventing recurring elements of unsafe buildings and
Grand Island Regular Meeting - 5/17/2017 Page 64 / 69
blighting conditions. This will accomplish the goal of both the Downtown Business
Improvement District and the Grand Island City Council of increasing the number of
residential units available in the Downtown area.
8. Time Frame for Development
Development of this project is anticipated to be completed between July 2017 and
December of 2018. Excess valuation should be available for this project for 15 years
beginning with the 2019 tax year.
9. Justification of Project
This is an historic building in downtown Grand Island that will be preserved with this
project. The addition of a new upper story residential unit is consistent with goals to
build 50 new residential units in downtown Grand Island by 2019 and with the goals of
the 2014 Grand Island housing study and Grow Grand Island. The main floor and
basement will be used for commercial tenant space.
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 $603,000 in public funds from tax increment
financing provided by the Grand Island Community Redevelopment Authority will be
required to complete the project. This property has requested a life/safety grant of
$240,000 and an additional façade improvement grant of $300,000. This investment by
the Authority will leverage $2,803,493 in private sector financing; a private investment of
$2.45 for every TIF and grant dollar investment.
Grand Island Regular Meeting - 5/17/2017 Page 65 / 69
Use of Funds.
Description TIF Funds Other Grants Private Funds Total
Site Acquisition $150,000 $150,000
Legal and Plan*$124,373 $124,373
Engineering/Arch $250,400 $250,400
Tenant
Buildout/Furnishings $295,000 $295,000
Renovation $603,425 $1,696,8971i $2,300,322
Life Safety $240,000 $240,000
Façade $300,000 $300,000
Financing Fees $88,000 $88,000
Contingency $198,823 $198,823
TOTALS $603,425 $540,000 $2,803,493 $3,946,918
Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2018,
valuation of approximately $101,218. Based on the 2016 levy this would result in a real
property tax of approximately $2,200. It is anticipated that the assessed value will
increase by $1,851,184 upon full completion, as a result of the site redevelopment. This
development will result in an estimated tax increase of over $40,228 annually. The tax
increment gained from this Redevelopment Project Area would not be available for use
as city general tax revenues, for a period of 15 years, or such shorter time as may be
required to amortize the TIF bond, but would be used for eligible private redevelopment
costs to enable this project to be realized.
Estimated 2018 assessed value:$ 101,218
Estimated taxable value after completion $ 1,952,402
Increment value $ 1,851,184
Annual TIF generated (estimated)$ 40,228
TIF bond issue $ 603,425
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area currently has an estimated valuation of $101,218.
The proposed redevelopment will create additional valuation of $1,851,184. 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;
1 This includes $1,122,186 of Historic Tax Credits
Grand Island Regular Meeting - 5/17/2017 Page 66 / 69
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
schools in any significant way as these are one bedroom units located downtown. Fire
and police protection are available and should not be negatively impacted by this
development. The addition of life safety elements to this building including fire
sprinklers, reduce the chances of negative impacts to the fire department.
(c) Impacts on employers and employees of firms locating or expanding within the
boundaries of the area of the redevelopment project;
This will provide additional housing options in the downtown area consistent with the
planned development in Downtown Grand Island.
(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 employers in any manner
different from any other expanding business within the Grand Island area. This will
provide housing options for employees of Downtown businesses that wish to live
Downtown.
(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 is consistent the goals of the Council, the Downtown BID, the CRA, and
Grow Grand Island to create additional housing units in downtown Grand Island.
Time Frame for Development
Development of this project is anticipated to be completed during between July of
2017 and December 31 of 2018. The base tax year should be calculated on the value of
the property as of January 1, 2018. Excess valuation should be available for this project
for 15 years beginning in 2019 with taxes due in 2020. 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 $603,425 the
projected amount of increment based upon the anticipated value of the project and current
tax rate. Based on the estimates of the expenses of the rehabilitation the developer will
spend at least $2,430,095 on TIF eligible activities in excess of other grants given. The
CRA will reserve the right to issue additional debt for this project upon notification by
the developer of sufficient expenses and valuation to support such debt in the form of a
second or third bond issuance.
i
Grand Island Regular Meeting - 5/17/2017 Page 67 / 69
201-205 W. Third, Hedde Building LLC
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 238
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 Plan 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 17th day of May, 2017.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By___________________________
Chairperson
ATTEST:
__________________________
Secretary
Grand Island Regular Meeting - 5/17/2017 Page 68 / 69
201-205 W. Third St., Hedde Building LLC
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 239
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 Hedde Building LLC for 201-205 W. Third St. (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 17th day of May, 2017.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By ___________________________
Chairperson
ATTEST:
___________________
Secretary
Grand Island Regular Meeting - 5/17/2017 Page 69 / 69