08-14-2019 Community Redevelopment Authority Regular Meeting Packet
Community Redevelopment
Authority (CRA)
Wednesday, August 14, 2019
Regular Meeting Packet
Board Members:
Tom Gdowski - Chairman
Glen Murray – Vice Chairman
Sue Pirnie
Glenn Wilson
Krae Dutoit
4:00 PM
Grand Island Regular Meeting - 8/14/2019 Page 1 / 26
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.
Grand Island Regular Meeting - 8/14/2019 Page 2 / 26
Community Redevelopment
Authority (CRA)
Wednesday, August 14, 2019
Regular Meeting
Item A1
Agenda
Staff Contact:
Grand Island Regular Meeting - 8/14/2019 Page 3 / 26
Grand Island Regular Meeting - 8/14/2019 Page 4 / 26
Community Redevelopment
Authority (CRA)
Wednesday, August 14, 2019
Regular Meeting
Item B1
Meeting Minutes 7-10-2019
Staff Contact:
Grand Island Regular Meeting - 8/14/2019 Page 5 / 26
OFFICIAL PROCEEDINGS
MINUTES OF
COMMUNITY REDEVELOPMENT AUTHORITY
MEETING OF
July 10, 2019
Pursuant to due call and notice thereof, a Meeting of the Community Redevelopment Authority of
the City of Grand Island, Nebraska was conducted on July 10, 2019 at City Hall, 100 E. First
Street. Notice of the meeting was given in the July 3, 2019 Grand Island Independent.
1. CALL TO ORDER.
Vice Chairman Murray called the meeting to order at 4:00 p.m. The following members
were present: Glen Murray, Glenn Wilson, and Krae Dutoit. Also present were: Director
Chad Nabity, Planning Administrative Assistant Norma Hernandez, City Council
President Vaughn Minton, Patrick Brown and William Clingman from the Grand Island
Finance Department.
2. APPROVAL OF MINUTES.
A motion for approval of the Minutes for the June 12, 2019 meeting was made by Dutoit
and second by Wilson. Upon roll call vote, all present voted aye. Motion carried 3-0
3. APPROVAL OF FINANCIAL REPORTS.
William Clingman reviewed the financials from June1, 2019 to June 30, 2019. A motion
was made by Wilson and second by Dutoit. Upon roll call vote, all present voted aye.
Motion carried 3-0.
4. APPROVAL OF BILLS.
The bills were reviewed by William Clingman. A motion was made by Dutoit and second
by Wilson to approve the bills in the amount of $295,839.45. Upon roll call vote, all
present voted aye. Motion carried 3-0.
5. REVIEW OF COMMITTED PROJECTS & CRA PROPERTY.
The committed projects and CRA properties were reviewed by Nabity.
Façade Projects - Nabity mentioned not too many changes. Hedde Building – work still
being done. Old City Hall building – Work has started. Paramount – Will have the bills
and occupancy certificates by next meeting. Take Flight – Replacement of terracotta is
coming along and looking nice. Tom Ziller sent pictures last week. Life Safety Grants –
Hedde Building 201 & 203 W. 3rd Street – Will not be paid out this fiscal year. Old Sears
Building – should have payment in August, Peaceful Root – have not heard anything.
Rawr Holdings – Have not heard anything. Wing Properties - TIF contract is signed.
There is $70,000 left in Life Safety for this year. This is the last year for Life Safety.
Façade – Everything has been allocated for this year. Other projects has $10,000. Line
item Land Sales $100,000 was budgeted, about $39,000 of sales with the Talon sale. Only
property left is the Dessert Rose property.
Grand Island Regular Meeting - 8/14/2019 Page 6 / 26
6. Redevelopment Contract Approval for CRA Area #1 for single family residential
Starostka Contracting LLC
A. Consideration of Resolution 315 –
Nabity stated the project consists of 20 lots on 5th Street and Cogden. City council
approved the redevelopment plan amendment. Three bids came in for the sewer project.
Starostka was the lowest bidder and was awarded that contract.
A motion was made by Dutoit and second by Wilson to approve Resolution 315. Upon
roll call vote all, voted aye. Motion carried 3-0.
7. Discussion of 2019-20 CRA Budget
Nabity mentioned a letter was received from Jay Vaverick. Jay asked if the CRA would
be willing to participate in helping with historical lighting and extending to his new
restaurant. Nabity recommends to do a 50/50 match with the property owner and use
other projects line item. Nabity explained this would be a way to extend the historical
lighting down the street. This could encourage property owners to make then investment.
Public Works will be going out to look at spacing on the lighting. They will pick 4 spots
to see where the lighting will placed. Amos Anson, Downtown BID president, asked the
board to take the following into consideration.
There are 3 concrete poles on each block. The historical lighting started in the middle
with the intention of going down the block. Amos stated it’s probably best to keep the
pattern that has been started.
The board decided that Jay Vaverick should work with the Downtown BID.
Nabity stated he is working with the finance department to figure out what the ending
cash. We are proposing to keep the levy the same as last year.
8. Director’s Report
9. Adjournment
Murray adjourned the meeting at 4:42 p.m.
The next meeting is scheduled, Wednesday, August 14, 2019.
Respectfully Submitted,
Norma Hernandez
Administrative Assistant
Grand Island Regular Meeting - 8/14/2019 Page 7 / 26
Community Redevelopment
Authority (CRA)
Wednesday, August 14, 2019
Regular Meeting
Item C1
Financials July 2019
Staff Contact:
Grand Island Regular Meeting - 8/14/2019 Page 8 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
CONSOLIDATED
Beginning Cash 826,214 675,752
REVENUE:
Property Taxes - CRA 7,748 381,309 489,000 107,691 77.98%
Property Taxes - Lincoln Pool 1,055 109,171 197,000 87,829 55.42%
Property Taxes -TIF's 30,155 1,623,484 3,149,000 2,255,656 51.56%
Loan Income (Poplar Street Water Line) - - 14,000 14,000 0.00%
Interest Income - CRA 1,913 10,725 300 - 3575.16%
Interest Income - TIF'S 90 295 - -
Land Sales - 500 100,000 99,500 0.50%
Other Revenue - CRA 206,963 1,166,404 430,000 - 271.26%
Other Revenue - TIF's - 60,160 - -
TOTAL REVENUE 247,924 3,352,047 4,379,300 2,564,676 76.54%
TOTAL RESOURCES 1,074,138 3,352,047 5,055,052 2,564,676
EXPENSES
Auditing & Accounting - 3,000 3,000 - 100.00%
Legal Services - 1,050 3,000 1,950 35.00%
Consulting Services - - 5,000 5,000 0.00%
Contract Services 4,098 42,203 75,000 32,797 56.27%
Printing & Binding - - 1,000 1,000 0.00%
Other Professional Services 6,013 11,120 16,000 4,880 69.50%
General Liability Insurance - - 250 250 0.00%
Postage - - 200 200 0.00%
Life Safety - - 200,000 200,000 0.00%
Legal Notices 17 155 500 345 31.04%
Travel & Training - - 1,000 1,000 0.00%
Other Expenditures - - - -
Office Supplies - - 1,000 1,000 0.00%
Supplies - - 300 300 0.00%
Land - 140 - -
Bond Principal - Lincoln Pool - 180,000 180,000 - 100.00%
Bond Interest - 17,065 17,065 - 100.00%
Husker Harvest Days - 200,000 200,000 - 100.00%
Façade Improvement - - 200,000 200,000 0.00%
Building Improvement - 438,677 926,000 487,323 47.37%
Other Projects - 25,000 25,000 0.00%
Bond Principal-TIF's 285,712 2,408,689.34 3,149,000 2,400,231 76.49%
Bond Interest-TIF's - 5,915 - -
Interest Expense - - - -
TOTAL EXPENSES 295,839 3,308,015 5,003,315 3,361,276 66.12%
INCREASE(DECREASE) IN CASH (47,916) 44,032 (624,015)
ENDING CASH 778,298 44,032 51,737 -
CRA CASH 606,185
Lincoln Pool Tax Income Balance 126,300
TIF CASH 45,814
Total Cash 778,298
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
Grand Island Regular Meeting - 8/14/2019 Page 9 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
GENERAL OPERATIONS:
Property Taxes - CRA 7,748 381,309 489,000 107,691 77.98%
Property Taxes - Lincoln Pool 1,055 109,171 197,000 87,829 55.42%
Interest Income 1,913 10,725 300 - 3575.16%
Loan Income (Poplar Street Water Line) - 14,000 14,000 0.00%
Land Sales 500 100,000 99,500 0.50%
Other Revenue & Motor Vehicle Tax 206,963 1,166,404 430,000 - 271.26%
TOTAL 217,679 1,668,109 1,230,300 309,021 135.59%
WALNUT HOUSING PROJECT
Property Taxes 23,393 25,278 - -
Interest Income 90 295 - -
Other Revenue 60,160 - -
TOTAL 23,483 85,732 - -
GIRARD VET CLINIC
Property Taxes 10,919 - -
TOTAL - 10,919 - -
GEDDES ST APTS-PROCON
Property Taxes 16,898 - -
TOTAL - 16,898 - -
SOUTHEAST CROSSING
Property Taxes 13,135 - -
TOTAL - 13,135 - -
POPLAR STREET WATER
Property Taxes 477 13,697 - -
TOTAL 477 13,697 - -
CASEY'S @ FIVE POINTS
Property Taxes 7,501 - -
TOTAL - 7,501 - -
SOUTH POINTE HOTEL PROJECT
Property Taxes 44,674 - -
TOTAL - 44,674 - -
TODD ENCK PROJECT
Property Taxes 6,540 - -
TOTAL - 6,540 - -
JOHN SCHULTE CONSTRUCTION
Property Taxes 7,663 - -
TOTAL - 7,663 - -
PHARMACY PROPERTIES INC
Property Taxes 6,312 - -
TOTAL - 6,312 - -
KEN-RAY LLC
Property Taxes 24,678 - -
TOTAL - 24,678 - -
Grand Island Regular Meeting - 8/14/2019 Page 10 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
TOKEN PROPERTIES RUBY
Property Taxes 3,017 - -
TOTAL - 3,017 - -
GORDMAN GRAND ISLAND
Property Taxes 37,729 - -
TOTAL - 37,729 - -
BAKER DEVELOPMENT INC
Property Taxes 1,998 - -
TOTAL - 1,998 - -
STRATFORD PLAZA INC
Property Taxes 17,605 - -
TOTAL - 17,605 - -
COPPER CREEK 2013 HOUSES
Property Taxes 375 45,210 - -
TOTAL 375 45,210 - -
FUTURE TIF'S
Property Taxes 81 3,149,000 3,148,919
TOTAL - 81 3,149,000 3,148,919
CHIEF INDUSTRIES AURORA COOP
Property Taxes 20,102 - (20,102)
TOTAL - 20,102 - (20,102)
TOKEN PROPERTIES KIMBALL ST
Property Taxes 2,765 - (2,765)
TOTAL - 2,765 - (2,765)
GI HABITAT OF HUMANITY
Property Taxes 2,319 - (2,319)
TOTAL - 2,319 - (2,319)
AUTO ONE INC
Property Taxes 7,430 - (7,430)
TOTAL - 7,430 - (7,430)
EIG GRAND ISLAND
Property Taxes 38,108 - (38,108)
TOTAL - 38,108 - (38,108)
TOKEN PROPERTIES CARY ST
Property Taxes 8,326 - (8,326)
TOTAL - 8,326 - (8,326)
Grand Island Regular Meeting - 8/14/2019 Page 11 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
WENN HOUSING PROJECT
Property Taxes 4,580 - (4,580)
TOTAL - 4,580 - (4,580)
COPPER CREEK 2014 HOUSES
Property Taxes 1,173 176,013 - (176,013)
TOTAL 1,173 176,013 - (176,013)
TC ENCK BUILDERS
Property Taxes 3,662 - (3,662)
TOTAL - 3,662 - (3,662)
SUPER MARKET DEVELOPERS
Property Taxes 65,033 - (65,033)
TOTAL - 65,033 - (65,033)
MAINSTAY SUITES
Property Taxes 34,103 - (34,103)
TOTAL - 34,103 - (34,103)
TOWER 217
Property Taxes 14,178 - (14,178)
TOTAL - 14,178 - (14,178)
COPPER CREEK 2015 HOUSES
Property Taxes 4,736 177,537 - (177,537)
TOTAL 4,736 177,537 - (177,537)
NORTHWEST COMMONS
Property Taxes 190,502 - (190,502)
TOTAL - 190,502 - (190,502)
HABITAT - 8TH & SUPERIOR
Property Taxes 5,813 (5,813)
TOTAL - 5,813 - (5,813)
KAUFMAN BUILDING
Property Taxes 6,846 (6,846)
TOTAL - 6,846 - (6,846)
TALON APARTMENTS
Property Taxes 75,518 (75,518)
TOTAL - 75,518 - (75,518)
VICTORY PLACE
Property Taxes 60,427 (60,427)
TOTAL - 60,427 - (60,427)
THINK SMART
Property Taxes 1,920 (1,920)
TOTAL - 1,920 - (1,920)
Grand Island Regular Meeting - 8/14/2019 Page 12 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
BOSSELMAN HQ
Property Taxes 92,530 (92,530)
TOTAL - 92,530 - (92,530)
TALON APARTMENTS 2017
Property Taxes 60,157 (60,157)
TOTAL - 60,157 - (60,157)
WEINRICH DEVELOPMENT
Property Taxes 749 (749)
TOTAL - 749 - (749)
WING WILLIAMSONS
Property Taxes 1,492 (1,492)
TOTAL - 1,492 - (1,492)
HATCHERY HOLDINGS
Property Taxes 166,618 (166,618)
TOTAL - 166,618 - (166,618)
FEDERATION LABOR TEMPLE
Property Taxes 3,625 (3,625)
TOTAL - 3,625 - (3,625)
MIDDLETON PROPERTIES II
Property Taxes 14,580 (14,580)
TOTAL - 14,580 - (14,580)
COPPER CREEK 2016 HOUSES
Property Taxes 47,661 (47,661)
TOTAL - 47,661 - (47,661)
EAST PARK ON STUHR
Property Taxes 57,955 (57,955)
TOTAL - 57,955 - (57,955)
TOTAL REVENUE 247,924 3,352,047 4,379,300 2,713,280 76.54%
- -
Grand Island Regular Meeting - 8/14/2019 Page 13 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
EXPENSES
CRA
GENERAL OPERATIONS:
Auditing & Accounting 3,000 3,000 - 100.00%
Legal Services 1,050 3,000 1,950 35.00%
Consulting Services - 5,000 5,000 0.00%
Contract Services 4,098 42,203 75,000 32,797 56.27%
Printing & Binding - 1,000 1,000 0.00%
Other Professional Services 6,013 11,120 16,000 4,880 69.50%
General Liability Insurance - 250 250 0.00%
Postage - 200 200 0.00%
Lifesafety Grant - 200,000 200,000 0.00%
Legal Notices 17 155 500 345 31.04%
Travel & Training - 1,000 1,000 0.00%
Office Supplies - 1,000 1,000 0.00%
Supplies - 300 300 0.00%
Land 140 - -
Bond Principal - Lincoln Pool 180,000 180,000 - 100.00%
Bond Interest - Lincoln Pool 17,065 17,065 - 100.00%
PROJECTS
Husker Harvest Days 200,000 200,000 - 100.00%
Façade Improvement - 200,000 200,000 0.00%
Building Improvement 438,677 926,000 487,323 0.00%
Other Projects - 25,000 25,000 0.00%
TOTAL CRA EXPENSES 10,128 893,410 1,854,315 961,045 48.18%
WALNUT HOUSING PROJECT
Bond Principal 68,557 - -
Bond Interest 5,915 - -
TOTAL - 74,472 - -
GIRARD VET CLINIC
Bond Principal 5,228 10,919 - -
TOTAL 5,228 10,919 - -
GEDDES ST APTS - PROCON
Bond Principal 16,898 - -
TOTAL - 16,898 - -
SOUTHEAST CROSSINGS
Bond Principal 13,135 - -
TOTAL - 13,135 - -
POPLAR STREET WATER
Bond Principal 4,322 13,220 - -
TOTAL 4,322 13,220 - -
CASEY'S @ FIVE POINTS
Bond Principal 6,942 7,501 - -
TOTAL 6,942 7,501 - -
Grand Island Regular Meeting - 8/14/2019 Page 14 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
SOUTH POINTE HOTEL PROJECT
Bond Principal 44,674 - -
TOTAL - 44,674 - -
TODD ENCK PROJECT
Bond Principal 3,087 6,540 - -
TOTAL 3,087 6,540 - -
JOHN SCHULTE CONSTRUCTION
Bond Principal 3,837 7,663 - -
TOTAL 3,837 7,663 - -
PHARMACY PROPERTIES INC
Bond Principal 6,312 - -
TOTAL - 6,312 - -
KEN-RAY LLC
Bond Principal 22,838 24,678 - -
TOTAL 22,838 24,678 - -
TOKEN PROPERTIES RUBY
Bond Principal 1,436 3,017 - -
TOTAL 1,436 3,017 - -
GORDMAN GRAND ISLAND
Bond Principal 37,729 - -
TOTAL - 37,729 - -
BAKER DEVELOPMENT INC
Bond Principal 1,849 1,998 - -
TOTAL 1,849 1,998 - -
STRATFORD PLAZA LLC
Bond Principal 17,605 - -
TOTAL - 17,605 - -
COPPER CREEK 2013 HOUSES
Bond Principal 4,426 44,834 - -
TOTAL 4,426 44,834 - -
CHIEF INDUSTRIES AURORA COOP
Bond Principal 18,604 20,102 - -
TOTAL 18,604 20,102 - -
TOKEN PROPERTIES KIMBALL STREET
Bond Principal 1,357 2,765 - -
TOTAL 1,357 2,765 - -
GI HABITAT FOR HUMANITY
Bond Principal 2,146 2,319 - -
TOTAL 2,146 2,319 - -
Grand Island Regular Meeting - 8/14/2019 Page 15 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
AUTO ONE INC
Bond Principal 6,876 7,430 - -
TOTAL 6,876 7,430 - -
EIG GRAND ISLAND
Bond Principal 38,108 - -
TOTAL - 38,108 - -
TOKEN PROPERTIES CARY STREET
Bond Principal 3,865 8,326 - -
TOTAL 3,865 8,326 - -
WENN HOUSING PROJECT
Bond Principal 4,580 - -
TOTAL - 4,580 - -
COPPER CREEK 2014 HOUSES
Bond Principal 41,022 174,840 - -
TOTAL 41,022 174,840 - -
TC ENCK BUILDERS
Bond Principal 1,678 3,662 - -
TOTAL 1,678 3,662 - -
SUPER MARKET DEVELOPERS
Bond Principal 65,033 - -
TOTAL - 65,033 - -
MAINSTAY SUITES
Bond Principal 31,561 34,103 - -
TOTAL 31,561 34,103 - -
TOWER 217
Bond Principal 13,129 14,178 - -
TOTAL 13,129 14,178 - -
COPPER CREEK 2015 HOUSES
Bond Principal 33,659 172,801 - -
TOTAL 33,659 172,801 -
NORTHWEST COMMONS
Bond Principal 7,132 190,502 - -
TOTAL 7,132 190,502 -
HABITAT - 8TH & SUPERIOR
Bond Principal 5,379 5,813 - -
TOTAL 5,379 5,813 -
KAUFMAN BUILDING
Bond Principal 6,846 - -
TOTAL - 6,846 -
Grand Island Regular Meeting - 8/14/2019 Page 16 / 26
MONTH ENDED 2018-2019 2019 REMAINING % OF BUDGET
July-19 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2019
TALON APARTMENTS
Bond Principal 75,518 - -
TOTAL - 75,518 -
VICTORY PLACE
Bond Principal 60,427 - -
TOTAL - 60,427 -
FUTURE TIF'S
Bond Principal 748,769 3,149,000 2,400,231
TOTAL - 748,769 3,149,000 2,400,231
THINK SMART
Bond Principal 1,920 - -
TOTAL - 1,920 -
BOSSELMAN HQ
Bond Principal 92,530 - -
TOTAL - 92,530 -
TALON APARTMENTS 2017
Bond Principal 60,157 - -
TOTAL - 60,157 -
WEINRICH DEVELOPMENT
Bond Principal 694 749 - -
TOTAL 694 749 -
WING WILLIAMSONS
Bond Principal 1,492 - -
TOTAL - 1,492 -
HATCHERY HOLDINGS
Bond Principal 166,618 - -
TOTAL - 166,618 -
FEDERATION LABOR TEMPLE
Bond Principal 3,585 3,625 - -
TOTAL 3,585 3,625 -
MIDDLETON PROPERTIES II
Bond Principal 14,580 - -
TOTAL - 14,580 -
COPPER CREEK 2016 HOUSES
Bond Principal 7,426 47,661 - -
TOTAL 7,426 47,661 -
EAST PARK ON STUHR
Bond Principal 53,633 57,955 - -
TOTAL 53,633 57,955 -
TOTAL EXPENSES 295,839 3,308,015 5,003,315 3,361,276 66.12%
Grand Island Regular Meeting - 8/14/2019 Page 17 / 26
08/09/2019 10:34 |CITY OF GRAND ISLAND |P 1
briansc |BALANCE SHEET FOR 2019 10 |glbalsht
NET CHANGE ACCOUNT
FUND: 900 COMMUNITY REDEVELOPMENT AUTHOR FOR PERIOD BALANCE__________________________________________________________________________________________________________
ASSETS
900 11110 OPERATING CASH -47,915.63 778,298.65
900 11120 COUNTY TREASURER CASH .00 140,410.38
900 11305 PROPERTY TAXES RECEIVABLE .00 213,070.00
900 11500 INTEREST RECEIVABLE .00 808.64
900 14100 NOTES RECEIVABLE .00 125,290.09
900 14700 LAND .00 490,485.75_______________________________________
TOTAL ASSETS -47,915.63 1,748,363.51_______________________________________
LIABILITIES
900 22100 LONG TERM DEBT .00 -105,250.00
900 22400 OTHER LONG TERM DEBT .00 -930,000.00
900 22900 ACCRUED INTEREST PAYABLE .00 -5,344.79
900 25100 ACCOUNTS PAYABLE .00 -65,572.06
900 25315 DEFERRED REVENUE-PROPERY TAX .00 -206,904.00_______________________________________
TOTAL LIABILITIES .00 -1,313,070.85_______________________________________
FUND BALANCE
900 39107 BUDGETARY FUND BAL - UNRESERVD .00 645,381.00
900 39110 INVESTMENT IN FIXED ASSETS .00 -490,485.75
900 39112 FUND BALANCE-BONDS .00 909,959.91
900 39120 UNRESTRICTED FUND BALANCE .00 -810,734.37
900 39130 ESTIMATED REVENUES .00 2,892,117.00
900 39140 ESTIMATED EXPENSES .00 -3,537,498.00
900 39500 REVENUE CONTROL -247,923.82 -3,352,047.30
900 39600 EXPENDITURE CONTROL 295,839.45 3,308,014.85_______________________________________
TOTAL FUND BALANCE 47,915.63 -435,292.66_______________________________________
TOTAL LIABILITIES + FUND BALANCE 47,915.63 -1,748,363.51=======================================
** END OF REPORT - Generated by Brian Schultz **
Grand Island Regular Meeting - 8/14/2019 Page 18 / 26
Community Redevelopment
Authority (CRA)
Wednesday, August 14, 2019
Regular Meeting
Item D1
Bills Aug 2019
Staff Contact:
Grand Island Regular Meeting - 8/14/2019 Page 19 / 26
Grand Island Regular Meeting - 8/14/2019 Page 20 / 26
Community Redevelopment
Authority (CRA)
Wednesday, August 14, 2019
Regular Meeting
Item E1
July 2019 Committed Projects and CRA Projects
Staff Contact:
Grand Island Regular Meeting - 8/14/2019 Page 21 / 26
COMMITTED PROJECTS REMAINING
GRANT
AMOUNT
2019 FISCAL YR 2020 FISCAL YR 2021 FISCAL YR ESTIMATED
COMP
Bosselman-1607 S. Locust (11-14-18) $ 50,000.00 $ 50,000.00 Summer 2019
Hedde Building 201-205 W. 3rd (10-18-
17)
$ 300,000.00 $ 200,000.00 $ 100,000.00 Spring 2020
Old City Hall -208 N. Pine St (12-12-18) $ 100,000.00 $ 100,000.00 Summer 2019
Paramount Development - 411 W. 3rd St
(2-13-19)
$ 15,000.00 $ 15,000.00
Take Flight - 209 W. 3rd (11-14-18) $ 50,000.00 $ 50,000.00
Total Committed $ 465,000.00 $ 365,000.00 $ 100,000.00 $ -
FIRE & LIFE SAFETY GRANT TOTAL
AMOUNT
2019 FISCAL YR 2020 FISCAL YR 2021 FISCAL YR ESTIMATED
COMP
201-203 W. 3rd St. Anson (8-24-16) $ 310,000.00 $ 310,000.00 Spring 2020
Old Sears Building - 4 Aparts (8-8-18) $ 80,000.00 $ 80,000.00 Summer 2019
Peaceful Root - 112 W. 2nd St. (1-11-17) $ 50,000.00 $ 50,000.00 Spring 2019
Rawr Holdings 110 W 2nd (12-12-18) $ 35,000.00 $ 35,000.00 Winter 2019
Wing Properties 112 E 3rd (12-12-18) $ 20,000.00 $ 20,000.00 Winter 2019
Total Committed F&L Safety Grant $ 495,000.00 $ 495,000.00 $ - $ -
BUDGET COMMITTED LEFT
Life Safety Budgeted 2019 $ 200,000.00 $ 130,000.00 $ 70,000.00
Façade Budgeted 2019 $ 200,000.00 $ 200,000.00 $ -
Other Projects 2019 Budgeted $ 25,000.00 $ 15,000.00 $ 10,000.00
Land - Budgeted 2019 $ - $ - $ -
Land Sales Budgeted 2019 $ (100,000.00) $ - $ (100,000.00)
subtotal $ 345,000.00 $ (20,000.00)
Less committed ($860,000.00) ($100,000.00)
Balance remaining $ (515,000.00) $ (120,000.00)
BUDGET PAID LEFT
Building Improvements * $ 926,000.00 $ 438,677.00 $ 487,323.00
*Includes Life Safety, Façade, Other grants made in previous fiscal years
CRA PROPERTIES
Address Purchase Price Purchase Date Demo Cost Status
3235 S Locust (Desert Rose) $450,000 4/2/2010 $39,764 Surplus
July 31, 2019
Grand Island Regular Meeting - 8/14/2019 Page 22 / 26
Community Redevelopment
Authority (CRA)
Wednesday, August 14, 2019
Regular Meeting
Item K1
2019-2020 Budget
Staff Contact:
Grand Island Regular Meeting - 8/14/2019 Page 23 / 26
August 6, 2019
From: Chad Nabity, AICP Director
To: CRA Board
Re: 2019-2012 Budget
Enclosed you will find a draft of the 2019-2020 CRA Budget.
The 2019-2020 CRA Budget is presented with projected revenue from taxes of $697,000
based on the tax levy used for the 2018-19 tax year. The levy was lowered in for the
2017-18 fiscal year the CRA levy was lowered from 0.026 to 0.023. If the levy from last
year is being retained this would generate about $503,000 for CRA purposes which
includes: grants, façade improvements, committed projects and staffing as well as
$194,000 for Lincoln Park Pool.
During the 2018-19 fiscal year the CRA made payments on over $487,000 of projects
carried over from the 2017-18 fiscal year and it is anticipated that we will make payments
on over $715,000 of commitments that were made during the 2017-18 fiscal year. This
has reduced our available cash significantly but also reduced our committed projects and
carryover for the 2019-2020 fiscal year.
Based on our end of year projections, if the CRA makes payments on commitments that
are expected to come due before the end of the fiscal year, our beginning cash budget for
2020 will be $622,673. Projected revenues for 2020 are $3,720,229. This includes over
$1,470,000 in TIF payments and a reserve of $1,000,000 of authority for new TIF
projects that come on line during the 2020 tax year. All of the TIF payments are pass
through payments that will not be made if the money generated by those projects is not
sent to the CRA. The revenues include $503,000 from general property taxes an increase
of 2.5% over last year and $194,000 for the Lincoln Pool bonds and interest. The last
Life Safety Fund contribution from the general fund of $100,000 and the Husker Harvest
Days contribution from the food and beverage tax of $200,000 are shown under other
CRA Revenue. Land sales is projected at $200,000. The CRA does only have one
property at this time available, the Desert Rose property on South Locust. The CRA did
sell a portion of the Desert Rose property to Talon apartments in 2019 to give them
access to Exchange Road.
At the beginning of the 2020 fiscal year it is expected that we will have about $350,000
of façade projects approved by not paid out with payments expected in the 2020 fiscal
year and $365,000 of approved Life Safety Projects with $100,000 of that due from the
City of Grand Island General Fund after payment are made. We will begin the year with
$715,000 of carry over projects to be paid out in 2019-2020.
Grand Island Regular Meeting - 8/14/2019 Page 24 / 26
The Life Safety Program for downtown expires with the end of the 2018-19 fiscal year.
The program has operated for 5 years and the CRA has committed. To date we have had
twenty eight units completed of fifty one approved. All of the uncompleted units are
accounted for in the Building Improvement line as committed projects. There is some
desire among the Railside Board to continue this program but it is the recommendation of
staff to wait and see what happens with additional downtown redevelopment.
It appears that if the levy remains the same the CRA will have about $530,000 available
for to program for the 2019-2020 fiscal year. Operating expenses including salaries,
taxes, legal notices etc… will require about $90,000 and $440,000 for façade
improvement, land purchase and other projects.
Last year the budget included $200,000 for façade improvement and we committed all of
those funds in the first 2 months of the year. I would suggest that we budget $220,000 in
this line item and the CRA may want to consider increasing the match required for façade
projects or placing a limit on the amount of money that a project can receive. I would
recommend that we include $220,000 in other projects line. I expect that we will need to
participate in the Fifth Street Sewer Project to buy the first portion of the TIF Bond on
the Starostka Project of about $120,000 final numbers will be available after the board of
equalization meeting in the Summer of 2020. This money will be repaid to the CRA
through the TIF proceeds similar what the CRA did to support the Habitat for Humanity
Homes along Poplar Street. Other possible projects include expanding the Historic
Lighting in the Railside Area. The CRA has used this money to provide funding for
other studies and improvements in Business Improvement Districts.
I am recommending that we budget $100,000 for property acquisition but that this money
be reserved until either late in the fiscal year or until we sell the remainder of the Desert
Rose property.
We will also have to budget $200,000 for Husker Harvest Days but that will be a pass
through with money received from the City food and beverage tax fund and should have
no real impact on the overall budget. This is the 2nd of 10 annual payments to Farm
Progress.
We are finalizing the projections on the TIF revenues and expenditures for the next year
and those will be submitted for approval with offsetting revenues and expenditures in
each TIF account. We are anticipating a final total on TIF Payments for the 2018 year to
of about $1,500,000. I intend to budget $1,000,000 in any other TIF projects line to
insure that we have authority to payout any new projects coming on line in the next year.
We have done this for the past several years and finance creates an account for each new
project as we begin to receive funds for the project. It generally takes between 2 and 3
years to start receiving the TIF funds generated by a project and is subject to when the
project is complete and when the Assessor gets the project on the tax rolls.
Grand Island Regular Meeting - 8/14/2019 Page 25 / 26
2019 2018-2019 2020
BUDGET YE Projected BUDGET
CONSOLIDATED
Beginning Cash 675,752 675,752 622,763
REVENUE:
Property Taxes - CRA 489,000 489,000 503,000
Property Taxes - Lincoln Pool 197,000 197,000 194,229
Property Taxes -TIF's 2,400,000 2,400,000 2,500,000
All TIF Projects plus
$1M authority for new
Loan Income (Poplar Street Water Line)14,000 13,000 13,000
Interest Income - CRA 300 10,000 10,000
Interest Income - TIF'S
Land Sales 100,000 39,000 200,000
Other Revenue - CRA 430,000 400,000 300,000
Includes LS and HHD
Payments from City
Other Revenue - TIF's 749,000 749,000
TOTAL REVENUE 4,379,300 4,297,000 3,720,229
TOTAL RESOURCES 5,055,052 4,972,752 4,342,992
EXPENSES
Auditing & Accounting 3,000 3,000 3,000
Legal Services 3,000 1,500 3,000
Consulting Services 5,000 - 5,000
Contract Services 75,000 60,000 75,000
Printing & Binding 1,000 - 1,000
Other Professional Services 16,000 5,107 16,000
General Liability Insurance 250 - 250
Postage 200 100 200
Life Safety 200,000 80,000
Legal Notices 500 200 500
Travel & Training 1,000 - 4,000
Other Expenditures - - -
Office Supplies 1,000 200 1,000
Supplies 300 - 300
Land - 140 100,000
Bond Principal - Lincoln Pool 180,000 180,000 180,000
Bond Interest 17,065 17,065 14,229
Husker Harvest Days Payment Year 2 200,000 200,000 200,000
2nd of 10 years of
payments
Façade Improvement 200,000 150,000 220,000
Building Improvement 926,000 488,677 715,000
All Carry Over Projects
from 2019-20
Other Projects 25,000 15,000 220,000
Fifth Street Sewer,
Historic Lighting
Bond Principal-TIF's 3,149,000 3,149,000 2,500,000
Bond Interest-TIF's
Interest Expense
TOTAL EXPENSES 5,003,315 4,349,989 4,258,479
INCREASE(DECREASE) IN CASH (624,015) (52,989) (538,250)
ENDING CASH 51,737 622,763 84,513
Projected ending cash
for 2019 is less than
total committed projects
COMMUNITY REDEVELOPMENT AUTHORITY
2020 BUDGET
Grand Island Regular Meeting - 8/14/2019 Page 26 / 26