06-14-2017 Community Redevelopment Authority Regular Meeting Packet
Community Redevelopment
Authority (CRA)
Wednesday, June 14, 2017
Regular Meeting Packet
Board Members:
Tom Gdowski - Chairman
Glen Murray – Vice Chairman
Sue Pirnie
Glenn Wilson
Krae Dutoit
4:00 PM
City Hall
Grand Island Regular Meeting - 6/14/2017 Page 1 / 55
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 14, 2017
Regular Meeting
Item A1
Agenda 6-14-17
Staff Contact: Chad Nabity
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COMMUNITY REDEVELOPMENT AUTHORITY
AGENDA MEMORANDUM
4 p.m. June 14, 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 May 17, 2017, are submitted for approval. A MOTION is in
order.
3.APPROVAL OF FINANCIAL REPORTS. Financial reports for the period of May 1,
2017 through May 31, 2017 are submitted for approval. A MOTION is in order.
4.APPROVAL OF BILLS. Payment of bills in the amount of $354,519.67 is submitted
for approval. A MOTION is in order.
5.REVIEW OF COMMITTED PROJECTS AND CRA PROPERTIES.
6.TAX-INCREMENT FINANCING REQUEST – WEINRICH DEVELOPMENTS
INC. Weinrich Developments Inc. is requesting $52,768 of tax-increment financing
assistance for the residential development of a two-story four-plex at 523 E.
Division/206 S. Plum. A MOTION is in order for Resolution 240 to forward a
Redevelopment Plan Amendment to the Hall County Regional Planning Commission;
and a MOTION is in order for Resolution 241 of Intent to Enter into a Site Specific
Redevelopment Contact and Approval of related actions 30-day notice to the Grand
Island City Council for 523 E. Division/206 S. Plum.
7.HEDDE BUILDING RECOMMENDATION – The Regional Planning Commission
met June 7 and reviewed the redevelopment proposal for commercial and residential
space at the Hedde Building, 203-205 W. Third Street in downtown Grand Island.
The commission has forwarded Resolution 2017-09 finding that the redevelopment is
in compliance with the Comprehensive Plan for the City of Grand Island and
recommends approval of said plan. A MOTION is in order.
8. RETREAT TOPICS. Suggested topics for the July 12 retreat from 2 to 5 p.m. 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, June 14, 2017
Regular Meeting
Item B1
Minutes 5-17-17
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 6/14/2017 Page 8 / 55
OFFICIAL PROCEEDINGS
MINUTES OF
COMMUNITY REDEVELOPMENT AUTHORITY
MEETING OF
May 17, 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 May
17, 2017 at City Hall 100 E. First Street. Notice of the meeting was given in the May 10,
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, Krae
Dutoit and Sue Pirnie. Also present were: Director, Chad Nabity; Planning
Administrative Assistant Tracy Overstreet; Renae Griffiths, Billy Clingman and
Brian Schultz from the Grand Island Finance Department; Grand Island City
Council President Vaughn Minton; City Administrator Marlan Ferguson (arrived
4:17 p.m.); 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 April 12,
2017 meeting was made by Wilson and seconded by Dutoit. Upon roll call vote,
all present voted aye. Motion carried 5-0.
3. APPROVAL OF FINANCIAL REPORTS. Clingman reviewed the financial
reports for the period of April 1, 2017 through April 30, 2017. A motion was made
by Murray and seconded by Pirnie to approve the financial reports. Upon roll call
vote, all present voted aye. Motion carried 5-0.
4. APPROVAL OF BILLS. The bills were reviewed. A motion was made by Dutoit
and seconded by Pirnie to approve the bills in the amount of $14,080.77. Upon
roll call vote, all present voted aye. Motion carried 5-0.
5.REVIEW OF COMMITTED PROJECTS & CRA PROPERTY. Nabity provided a
review of the committed projects. He said the Bosselman project on South Locust
is progressing and the company has been submitting TIF receipts monthly. The
Temple Lofts at the former Federation of Labor building are expected to be
completed in August. Othy’s Place at Third and Eddy is waiting for Vitrolite on
the exterior toward the end of the year. The $15,000 demo grant to Habitat has
been turned back because the potential seller was unable to get legal title to the
Grand Island Regular Meeting - 6/14/2017 Page 9 / 55
property. The South Locust BID has been re-created and projects should be
forthcoming. The Wing Properties facade work continues. Dean Pegg was in this
week to receive approval to change the exterior paint color from one he had
originally picked. Regarding the Life Safety grants, Nabity said the Hedde project
is moving to an 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. LIFE SAFETY – HEDDE BUILDING
Nabity said the owners of Hedde Building LLC have made a layout change to the
project. The original plan was for 8 one-bedroom apartments and 4 two-bedroom
apartments, which was approved for a $200,000 life safety grant in October 2016.
Instead, the project will have 16 one-bedroom units, which are eligible for
$240,000 of life safety grant dollars. The request is to increase the life safety grant
award by $40,000. The Hedde Building LLC is also seeking $603,425 in tax-
increment financing, as well as, a façade grant and historic tax credits. Nabity said
the creation of these 16 new apartments, along with about the same number that
are already done or in the works, would put the downtown well on its way toward
the goal of 50 new upper-level apartments in five years, which was set by the city
and downtown. Wilson asked about adequate parking. Nabity said there is lots of
parking within a block distance. There are no parking requirements for downtown
property owners. He said the clientele targeted for the new apartments are recent
college graduates and young professionals. Some do not have cars. It’s part of
downtown/urban living and apartments help the downtown create a sense of
place, Nabity said.
A motion was made by Dutoit and seconded by Murray to approve an additional
$40,000 for the previous Life Safety grant amount of $200,000 – for a total grant
of $240,000 for the Hedde Building LLC. Upon roll call vote, Gdowski, Dutoit,
Wilson and Murray voted aye. Sue Pirnie abstained. Pirnie and her husband are
partners in Hedde Building LLC. Motion carried 4-0-1.
7.TAX-INCREMENT FINANCING REQUEST – HEDDE BUILDING
Nabity said Hedde Building LLC is seeking tax-increment financing in the
amount of $603,425, which would equate to a loan of about $420,000 for the
project. Hedde Building LLC partner and developer Amos Anson said it’s a big
number, but it’s a massive project. The plan is to restore the building to historic
standards, which makes for a tight floor plan. Anson said one-third of the building
is an open area that is unrentable. Commercial property will be on the first floor,
with the 16 apartments on the second and third floors. The project is also seeking
historic tax credits. The historic tax credits on the state level are at risk of being
cut by the Nebraska Legislature. Anson said if that cut happens, it’s likely that the
first floor will be used for commercial/retail space and no upper-story residential
Grand Island Regular Meeting - 6/14/2017 Page 10 / 55
development will occur. Gdowski asked Anson to inform the CRA if the other
funding for the project doesn’t come through so that the CRA resources can be re-
allocated.
A motion was made by Murray and seconded by Wilson to approve Resolution
239 to give 30-day notice to the Grand Island City Council for consideration of a
$603,425 TIF contract to Hedde Building LLC. Upon roll call vote, Gdowski,
Dutoit, Wilson and Murray voted aye. Sue Pirnie abstained. Motion carried 4-0-1.
A motion was made by Dutoit and seconded by Murray to approve Resolution
238 to refer to the Regional Planning Commission a redevelopment plan that
utilizes a $603,425 TIF contract to Hedde Building LLC. Upon roll call vote,
Gdowski, Dutoit, Wilson and Murray voted aye. Sue Pirnie abstained. Motion
carried 4-0-1.
9. RETREAT DATE AND TOPICS. Gdowksi suggested the July 12 regular meeting
be preceded with a retreat beginning at 2 p.m. The retreat would open with an
overview of the CRA, how funds are allocated, attorney Mike Bacon would
present a legislative update and Nabity and city officials would provide local
input. Murray inquired about starting earlier, or having the business part of the
meeting first. The group was in favor of moving the business meeting to 2 p.m.
followed by the retreat.
10.APPROVE RESOLUTION TO PURCHASE/SELL REAL ESTATE.
No resolutions.
11. DIRECTORS REPORT.
Nabity reported he is getting caught up after being out of the office for eight days at
the American Planning Association Conference in New York City.
12. ADJOURNMENT. Gdowski adjourned the meeting at 4:32 p.m.
The next meeting is scheduled for June 14, 2017.
Respectfully submitted
Chad Nabity
Director
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Community Redevelopment
Authority (CRA)
Wednesday, June 14, 2017
Regular Meeting
Item C1
Financial Reports May
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 6/14/2017 Page 12 / 55
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
May-17 YEAR TO DATE BUDGET BALANCE USED
CONSOLIDATED
Beginning Cash 803,551 843,818
REVENUE:
Property Taxes - CRA 150,321 313,290 566,972 235,351 55.26%
Property Taxes - Lincoln Pool 55,598 100,790 195,863 97,260 51.46%
Property Taxes -TIF's 255,542 585,455 1,809,856 1,228,391 32.35%
Loan Income (Poplar Street Water Line)- - 8,000 8,000 0.00%
Interest Income - CRA 16 142 300 158 47.24%
Interest Income - TIF'S 1 5,120 23,720 18,600 21.59%
Land Sales - - 250,000 250,000 0.00%
Other Revenue - CRA 421 1,543 130,000 128,457 1.19%
Other Revenue - TIF's - - - - #DIV/0!
TOTAL REVENUE 461,898 1,006,341 2,984,710 1,966,216 33.72%
TOTAL RESOURCES 1,265,449 1,006,341 3,828,529 1,966,216
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 3,284 36,208 75,000 38,792 48.28%
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 16 122 500 378 24.32%
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 50,000 46,203 7.60%
Bond Principal - Lincoln Pool - 175,000 175,000 - 100.00%
Bond Interest 10,081 21,388 20,863 - 102.51%
Façade Improvement - - 200,000 200,000 0.00%
Building Improvement - 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 13,381 601,274 3,537,498 2,936,748 17.00%
INCREASE(DECREASE) IN CASH 448,517 405,066 (552,788)
ENDING CASH 1,252,069 405,066 291,031 -
CRA CASH 734,885
Lincoln Pool Tax Income Balance 153,436
TIF CASH 363,748
Total Cash 1,252,069
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MAY 2017
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MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
May-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MAY 2017
CRA
GENERAL OPERATIONS:
Property Taxes - CRA 150,321 313,290 548,641 235,351 57.10%
Property Taxes - Lincoln Pool 55,598 100,790 198,050 97,260 50.89%
Interest Income 16 142 300 158 47.24%
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 421 1,543 130,000 128,457 1.19%
TOTAL 206,355 415,765 1,134,991 719,226 36.63%
GENTLE DENTAL
Property Taxes 235 3,598 3,363 6.54%
Interest Income 0 1 404 403 0.32%
TOTAL 0 237 4,002 3,765 5.92%
PROCON TIF
Property Taxes 19,191 15,601 - 123.01%
Interest Income 1 3 4,101 4,098 0.08%
TOTAL 1 19,194 19,702 4,098 97.42%
WALNUT HOUSING PROJECT
Property Taxes 34,163 55,257 21,094 61.82%
Interest Income 0 5,116 19,215 14,099 26.62%
TOTAL 0 39,278 74,472 35,194 52.74%
BRUNS PET GROOMING
Property Taxes 6,820 13,900 13,500 - 102.96%
TOTAL 6,820 13,900 13,500 - 102.96%
GIRARD VET CLINIC
Property Taxes 436 14,500 14,064 3.01%
TOTAL - 436 14,500 14,064 3.01%
GEDDES ST APTS-PROCON
Property Taxes 1,150 30,000 28,851 3.83%
TOTAL - 1,150 30,000 28,851 3.83%
SOUTHEAST CROSSING
Property Taxes 4,230 13,826 18,000 4,174 76.81%
TOTAL 4,230 13,826 18,000 4,174 76.81%
POPLAR STREET WATER
Property Taxes 4,641 6,112 8,000 1,888 76.40%
TOTAL 4,641 6,112 8,000 1,888 76.40%
CASEY'S @ FIVE POINTS
Property Taxes 579 10,000 9,421 5.79%
TOTAL - 579 10,000 9,421 5.79%
SOUTH POINTE HOTEL PROJECT
Property Taxes 40,117 43,566 90,000 46,434 48.41%
TOTAL 40,117 43,566 90,000 46,434 48.41%
Grand Island Regular Meeting - 6/14/2017 Page 14 / 55
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
May-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MAY 2017
TODD ENCK PROJECT
Property Taxes 265 6,000 5,735 4.42%
TOTAL - 265 6,000 5,735 4.42%
JOHN SCHULTE CONSTRUCTION
Property Taxes 2,708 6,000 3,292 45.13%
TOTAL - 2,708 6,000 3,292 45.13%
PHARMACY PROPERTIES INC
Property Taxes 5,668 6,156 11,000 4,844 55.96%
TOTAL 5,668 6,156 11,000 4,844 55.96%
KEN-RAY LLC
Property Taxes 23,622 85,000 61,378 27.79%
TOTAL - 23,622 85,000 61,378 27.79%
TOKEN PROPERTIES RUBY
Property Taxes 121 1,500 1,379 8.08%
TOTAL - 121 1,500 1,379 8.08%
GORDMAN GRAND ISLAND
Property Taxes 2,194 40,000 37,806 5.49%
TOTAL - 2,194 40,000 37,806 5.49%
BAKER DEVELOPMENT INC
Property Taxes 1,830 3,000 1,170 60.99%
TOTAL - 1,830 3,000 1,170 60.99%
STRATFORD PLAZA INC
Property Taxes 15,809 17,168 35,000 17,832 49.05%
TOTAL 15,809 17,168 35,000 17,832 49.05%
COPPER CREEK 2013 HOUSES
Property Taxes 25,873 34,840 80,000 45,160 0.00%
TOTAL 25,873 34,840 80,000 45,160 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 1,492 40,000 38,508 3.73%
TOTAL - 1,492 40,000 38,508 0.00%
TOKEN PROPERTIES KIMBALL ST
Property Taxes 1,377 2,700 1,323 50.99%
TOTAL - 1,377 2,700 1,323 0.00%
GI HABITAT OF HUMANITY
Property Taxes 1,972 2,141 8,000 5,859 26.76%
TOTAL 1,972 2,141 8,000 5,859 0.00%
Grand Island Regular Meeting - 6/14/2017 Page 15 / 55
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
May-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MAY 2017
AUTO ONE INC
Property Taxes 489 11,000 10,511 4.45%
TOTAL - 489 11,000 10,511 0.00%
EIG GRAND ISLAND
Property Taxes 34,044 36,971 50,000 13,029 73.94%
TOTAL 34,044 36,971 50,000 13,029 0.00%
TOKEN PROPERTIES CARY ST
Property Taxes 3,979 8,000 4,021 49.74%
TOTAL - 3,979 8,000 4,021 0.00%
WENN HOUSING PROJECT
Property Taxes 2,074 2,252 4,200 1,948 53.63%
TOTAL 2,074 2,252 4,200 1,948 0.00%
COPPER CREEK 2014 HOUSES
Property Taxes 96,880 129,558 200,000 70,442 64.78%
TOTAL 96,880 129,558 200,000 70,442 0.00%
TC ENCK BUILDERS
Property Taxes 17 3,000 2,983 0.57%
TOTAL - 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 14,535 25,000 10,465 58.14%
TOTAL - 14,535 25,000 10,465 0.00%
TOWER 217
Property Taxes 14,471 12,000 (2,471) 120.59%
TOTAL - 14,471 12,000 (2,471) 0.00%
COPPER CREEK 2015 HOUSES
Property Taxes 13,190 18,030 - (18,030)
TOTAL 13,190 18,030 - (18,030)
NORTHWEST COMMONS
Property Taxes 1,289 138,080 - (138,080)
TOTAL 1,289 138,080 - (138,080)
HABITAT - 8TH & SUPERIOR
Property Taxes 2,116 2,296 (2,296)
TOTAL 2,116 2,296 - (2,296)
KAUFMAN BUILDING
Property Taxes 818 888 (888)
TOTAL 818 888 - (888)
TOTAL REVENUE 461,898 1,006,341 2,968,567 1,966,216 33.90%
Grand Island Regular Meeting - 6/14/2017 Page 16 / 55
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
May-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MAY 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 3,284 36,208 75,000 38,792 48.28%
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 16 122 500 378 24.32%
Travel & Training 100 1,000 900 10.02%
Office Supplies 72 1,000 928 7.17%
Supplies - 300 300 0.00%
Land 3,798 50,000 46,203 7.60%
Bond Principal - Lincoln Pool 175,000 175,000 - 100.00%
Bond Interest - Lincoln Pool 10,081 21,388 20,863 - 102.51%
PROJECTS
Façade Improvement - 200,000 200,000 0.00%
Building Improvement 78,771 835,148 756,377 0.00%
Other Projects - 50,000 50,000 0.00%
TOTAL CRA EXPENSES 13,381 325,558 1,704,261 1,379,228 19.10%
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 - 6/14/2017 Page 17 / 55
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
May-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MAY 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 - 6/14/2017 Page 18 / 55
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
May-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MAY 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 - 6/14/2017 Page 19 / 55
MONTH ENDED 2016-2017 2017 REMAINING % OF BUDGET
May-17 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MAY 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 13,381 601,274 3,537,498 2,936,748 17.00%
Grand Island Regular Meeting - 6/14/2017 Page 20 / 55
06/06/2017 11:34 |CITY OF GRAND ISLAND |P 1
briansc |BALANCE SHEET FOR 2017 8 |glbalsht
NET CHANGE ACCOUNT
FUND: 900 COMMUNITY REDEVELOPMENT AUTHOR FOR PERIOD BALANCE__________________________________________________________________________________________________________
ASSETS
900 11110 OPERATING CASH 448,517.10 1,252,068.57
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 448,517.10 2,387,151.96_______________________________________
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 -461,897.87 -1,009,524.36
900 39600 EXPENDITURE CONTROL 13,380.77 601,274.27_______________________________________
TOTAL FUND BALANCE -448,517.10 -876,126.02_______________________________________
TOTAL LIABILITIES + FUND BALANCE -448,517.10 -2,387,151.96=======================================
** END OF REPORT - Generated by Brian Schultz **
Grand Island Regular Meeting - 6/14/2017 Page 21 / 55
Community Redevelopment
Authority (CRA)
Wednesday, June 14, 2017
Regular Meeting
Item D1
Bills
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 6/14/2017 Page 22 / 55
14-Jun-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 City Finance $ 3,287.97
Grand Island Independent May notice $ 16.01
TIF Payments Gentle Dental $ 2,101.00
Old Walnut $ 37,235.90
Procon $ 9,580.96
Northwest Commons $ 4,160.89
Copper Creek $ 27,617.73
Copper Creek Phase 2 $ 104,638.39
Copper Creek Phase 3 $ 14,678.19
Mainstay Suites $ 1,316.50
Wenn Housing $ 2,252.44
EIG $ 35,507.86
GI Area Habitat for Humanity $ 2,141.10
Chief - Aurora Coop $ 745.96
Stratford Plaza $ 16,488.86
Gordman $ 1,097.11
Ken-Ray $ 22,687.76
Pharmacy Properties $ 5,911.95
South Pointe Hotel $ 41,841.16
Casey's $ 289.57
Poplar Street Water Line $ 5,285.75
Southeast Crossing $ 4,546.80
Geddes Street Apartments $ 574.75
Girard $ 218.07
Bruns $ 7,113.31
GI Area Habitat for Humanity $ 2,295.71
Kaufmann Building $ 887.97
Total:$ 354,519.67
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Community Redevelopment
Authority (CRA)
Wednesday, June 14, 2017
Regular Meeting
Item E1
Committed Projects
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 6/14/2017 Page 25 / 55
COMMITTED PROJECTS REMAINING
GRANT
AMOUNT
2017 FISCAL YR 2018 FISCAL YR 2019 FISCAL YR ESTIMATED
COMP
Auto America-3036 S. Locust (4-12-17) $ 80,000.00 $ 80,000.00 2017
Bosselman Real Estate 2603 S. Locust
(6-10-15)
$ 300,000.00 $ 100,000.00 $ 100,000.00 $ 100,000.00 2019
Elk's Lodge No. 604 - 631 S. Locust (4-
12-17)
$ 53,400.00 $ 53,400.00 2017
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
Othy's Place - 724 W. 3rd - Lindell
(10/12/16)
$ 26,961.00 $ - $ 26,961.00 2017 sign, 2018
façade
$34,899.18 paid
March 15, 2017
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 $ 758,709.00 $ 516,748.00 $ 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) $ 240,000.00 $ 240,000.00 2018
Federation of Labor - Tom Ziller
(5/13/15)
$ 115,000.00 $ 115,000.00 2017
Peaceful Root - 112 W. 2nd St. (1/11/17) $ 50,000.00 $ 50,000.00 2018 - Q1
Total Committed F&L Safety Grant $ 405,000.00 $ 115,000.00 $ 290,000.00 $ -
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 ($631,748.00)($431,961.00)
Balance remaining $ 435,831.47 $ (431,961.00)
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
May 31, 2017
Grand Island Regular Meeting - 6/14/2017 Page 26 / 55
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 $ 245,394.18 $ (45,394.18)
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 $ 155,394.18 $ 1,244,753.82
Grand Island Regular Meeting - 6/14/2017 Page 27 / 55
Community Redevelopment
Authority (CRA)
Wednesday, June 14, 2017
Regular Meeting
Item H1
TIF Request-Weinrich
Staff Contact: Chad Nabity
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Redevelopment Plan Amendment
Grand Island CRA Area 1
June 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 PROPERTY LOCATED AT 523 E. DIVISION STREET
(206 S. PLUM STREET) FOR RESIDENTIAL USES, INCLUDING DEMOLITION OF
THE EXISTING STRUCTURE, SITE WORK AND CONSTRUCTION OF A NEW
TWO-STORY, FOUR-UNIT APARTMENT BUILDING AND ALL REQUIRED
OFFSTREET PARKING.
The use of Tax Increment Financing to aid in expenses associated with redevelopment of
the property located at 523 E. Division Street from a vacant single-family home into a
four-unit apartment building. 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 removing a vacant substandard unit and replacing it with four new three-
bedroom units. The addition of the residential units is consistent with R-4 High Density
Zoning District and additional units are needed to meet the goals of the 2014 Housing
Study. This project as proposed would not be possible without the use of TIF.
Weinrich Developments Inc. is the owner of the property. They purchased this property
in 2013. 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 this project. The
Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad
valorem taxes generated for up to 15 years for a 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”)
523 E. Division Street in Grand Island Nebraska (Address will be changed to 206 S.
Plum Street with issuance of a new building permit for the project.)
Legal Descriptions: Lot One (1) in Block One Hundred Forty Six (146) Union Pacific
Railway Company’s Second Addition to the City Grand Island, Hall County, Nebraska
Grand Island Regular Meeting - 6/14/2017 Page 42 / 55
Existing Land Use and Subject Property
Grand Island Regular Meeting - 6/14/2017 Page 43 / 55
The tax increment will be captured for the tax years for which the payments become
delinquent in years 2018 through 2032 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 the construction of the
proposed apartment building as permitted in the R-4 High Density Residential
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 up to 15 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 - 6/14/2017 Page 44 / 55
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 July 5, 2017 and passed Resolution
2017-?? 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 provides for the demolition and removal of
a vacant single-family home on this property. This property has been vacant for more
than 90 days.
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 use which
includes higher density housing. This property is in private ownership. [§18-2103(b) and
§18-2111]
Grand Island Regular Meeting - 6/14/2017 Page 45 / 55
City of Grand Island Future Land Use Map
Grand Island Regular Meeting - 6/14/2017 Page 46 / 55
d. Changes to zoning, street layouts and grades or building codes or ordinances or
other Planning changes.
The area is zoned R-4 High Density Residential 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 proposing to increase the number of dwelling units on the property from
one to four. The size of the building and lot coverage will increase, but remain in
conformance with 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 meet the minimum sewer and water line sizing requirements to serve the number
of dwelling units and fixtures.
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] No 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 - 6/14/2017 Page 47 / 55
The developer owns this property and acquisition is not part of the request for tax
increment financing. The estimated costs for this project are $300,512. Demolition
expenses are estimated at $11,500. Site improvements including: tree removal, utility
improvements, sidewalks and other flat concrete of $33,668, Architectural and
Engineering planning services of $2,000 and are included as a TIF eligible expense.
Legal, Developer and Audit Fees including a reimbursement to the City and the CRA of
$5,600 are included as TIF eligible expense. The total of eligible expenses for this project
is $52,768.
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 $52,768 from the proceeds of the TIF. 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, 2018 through December 2032.
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
blighting conditions. This will remove a vacant residential structure and replace it with
Grand Island Regular Meeting - 6/14/2017 Page 48 / 55
four brand new dwelling units in a manner consistent with the goals of the 2014 Housing
Study for the City of Grand Island.
8. Time Frame for Development
Development of this project is anticipated to be completed between August 2017 and
December of 2018. Excess valuation should be available for this project for up to 15
years beginning with the 2018 tax year.
9. Justification of Project
This is a single-family dwelling that has been vacant for several years. It was originally
built in 1907. The costs to renovate this structure would exceed the value of the structure
and not result in quality housing. The proposed replacement with a four-unit apartment
building will provide new quality housing in an existing neighborhood and remove a
structure contributing to blight within the neighborhood.
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. Public funds from tax increment financing in the amount of
$52,768 provided by the Grand Island Community Redevelopment Authority will be
required to complete the project. This investment by the Authority will leverage
$247,744 in private sector financing; a private investment of $4.69 for every TIF dollar
invested.
Grand Island Regular Meeting - 6/14/2017 Page 49 / 55
Use of Funds.
Description TIF Funds Private Funds Total
Site Acquisition $25,000 $25,000
Site Improvements/Utilities $33,668 $33,668
New Construction Costs $207,644 $207,644
Legal and Plan $3,500 $3,500
Engineering/Arch $2,000 $2,000
Demolition $11,500 $11,500
City Fees/Reimbursements $2,100 $2,100
Financing Fees $5,100 $5,100
Contingency $10,000 $10,000
TOTALS $52,768 $247,744 $300,512
Tax Revenue. The property to be redeveloped has January 1, 2017, valuation of
approximately $39,149. Based on the 2016 levy this would result in a real property tax of
approximately $816. It is anticipated that the assessed value will increase by $260,851
upon full completion, as a result of the site redevelopment. This development will result
in an estimated tax increase of over $5,600 annually. The tax increment gained from this
Redevelopment Project Area would not be available for use as city general tax revenues,
for a period of 15 years, or such shorter time as may be required to amortize the TIF
bond, but would be used for eligible private redevelopment costs to enable this project to
be realized.
Estimated 2018 assessed value:$ 39,149
Estimated taxable value after completion $ 300,000
Increment value $ 260,851
Annual TIF generated (estimated)$ 5,669
TIF bond issue $ $52,768
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area currently has an estimated valuation of $39,149. The
proposed redevelopment will create additional valuation of $260,851. 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 impacted by this development. The electric utility has
sufficient capacity to support the development. It is not anticipated that this will impact
schools. The Grand Island Public School system was notified of this application prior to
Grand Island Regular Meeting - 6/14/2017 Page 50 / 55
consideration of this plan by the Grand Island CRA, Regional Planning Commission or
City Council. Fire and police protection are available and should not be negatively
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;
This will provide additional housing options consistent with the 2014 Housing Study
for the City 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.
(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 with the goals of Grow Grand Island and the 2014 Housing
Study.
Time Frame for Development
Development of this project is anticipated to be completed during between August of
2017 and December 31 of 2018. 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. 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 $52,768 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 $52,678 on TIF eligible activities in excess of other grants given. Based on
the projected increment the bonds on this project will be paid off in year 9 or 10
depending on final valuation.
Grand Island Regular Meeting - 6/14/2017 Page 51 / 55
523 E. Division/206 S. Plum – Weinrich Developments Inc.
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 240
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 14th day of June, 2017.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By___________________________
Chairperson
ATTEST:
__________________________
Secretary
Grand Island Regular Meeting - 6/14/2017 Page 52 / 55
523 E. Division/206 S. Plum – Weinrich Developments Inc.
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 241
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 Weinrich Developments Inc. for 523 E. Division/206 S. Plum 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 14th day of June, 2017.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By ___________________________
Chairperson
ATTEST:
___________________
Secretary
Grand Island Regular Meeting - 6/14/2017 Page 53 / 55
Community Redevelopment
Authority (CRA)
Wednesday, June 14, 2017
Regular Meeting
Item J1
Resolution from Regional Planning Commission-Hedde Building
Staff Contact: Chad Nabity
Grand Island Regular Meeting - 6/14/2017 Page 54 / 55
Grand Island Regular Meeting - 6/14/2017 Page 55 / 55