12-09-2020 Community Redevelopment Authority Regular Meeting Packet
Community Redevelopment
Authority (CRA)
Wednesday, December 9, 2020
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 - 12/9/2020 Page 1 / 70
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 - 12/9/2020 Page 2 / 70
Community Redevelopment
Authority (CRA)
Wednesday, December 9, 2020
Regular Meeting
Item A1
Agenda 12/9/20
Staff Contact:
Grand Island Regular Meeting - 12/9/2020 Page 3 / 70
AGENDA AND NOTICE OF MEETING
Wednesday, December 2, 2020
6:00 p.m.
City Hall Council Chambers — Grand Island
1. Call to Order - 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 who would like to find out what those are is welcome to read through them.
The Planning Commission may vote to go into Closed Session on any Agenda Item as
allowed by State Law.
The Commission will discuss and may take action on any item listed on this agenda.
The order of items on the agenda may be reorganized by the Chair to facilitate the flow
of the meeting to better accommodate the public.
2. Minutes of the November 4, 2020.
3. Request Time to Speak.
4. Public Hearing Consideration of a Site Specific Redevelopment Plan for CRA Area
#2 Fonner View Center 1201 S. Locust-Grand Island
Concerning an amendment to the redevelopment plan for CRA Area No. 2 for 1201 S.
Locust- Fonner View Center_ south of Fonner Park Road and east of Locust Street. The
request calls for redevelopment and renovation of the commercial space at this location.
(C-05-2021GI)
5. Public Hearing Readoption of the Grand Island Zoning Map – Grand Island Public
Hearing to re-adopt the City of Grand Island Zoning Map, with proposed changes as
produced using the Hall County Geographic Information System. (C-04-2020GI)
6. Final Plat – Beckett Subdivision- Grand Island- Located west of Stuhr Road and north of
Stolley Park Road in Hall County Nebraska within the 2 mile ETJ of Grand Island, Nebraska.
(2 lots, 10.011acres). This property is zoned TA Transitional Agriculture Zone.
7. Directors Report
8. Next Meeting January 6, 2021.
Grand Island Regular Meeting - 12/9/2020 Page 4 / 70
9. Adjourn.
PLEASE NOTE: This meeting is open to the public, and a current agenda is on file at the
office of the Regional Planning Commission, located on the second floor of City Hall in
Grand Island, Nebraska.
Grand Island Regular Meeting - 12/9/2020 Page 5 / 70
Community Redevelopment
Authority (CRA)
Wednesday, December 9, 2020
Regular Meeting
Item B1
Minutes - November 18, 2020 Meeting
Staff Contact:
Grand Island Regular Meeting - 12/9/2020 Page 6 / 70
OFFICIAL PROCEEDINGS
MINUTES OF
COMMUNITY REDEVELOPMENT AUTHORITY
MEETING OF
November 18, 2020
Pursuant to due call and notice thereof, a Meeting of the Community Redevelopment Authority of
the City of Grand Island, Nebraska was conducted on November 18, 2020 at City Hall, 100 E.
First Street. Notice of the meeting was given in the November 11, 2020 Grand Island
Independent.
1. CALL TO ORDER.
Chairman Gdowski called the meeting to order at 4:00 p.m. The following members were
present: Tom Gdowski, Krae Dutoit and Glenn Murray. Also present were: Director Chad
Nabity, Administrative Assistant Norma Hernandez, Councilman Vaughn Minton,
Finance Director Patrick Brown and Assistant Finance Director Brian Schultz.
2. APPROVAL OF MINUTES.
A motion for approval of the Minutes for the October 14, 2020 was made by Murray and
second by Dutoit. Upon roll call vote, all present voted aye.
Motion carried 3-0
3. APPROVAL OF FINANCIAL REPORTS.
Brian Shultz reviewed the financial reports. A motion was made by Dutoit and second by
Murray to approve the financials from October 1 – October 31, 2020. Upon roll call vote,
all present voted aye. Motion carried 3-0.
4. APPROVAL OF BILLS.
Brian Shultz reviewed the bills. A motion was made by Murray and second by Dutoit to
approve the bills for $530,293.61. 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.
The GI Veterans Home is under other grants as part of the commitment that was made for
funds from the state.
Anticipating a request would come through for payment from White Lotus Group for their
next quarterly amount. They have been running behind due to Covid. Payment will go
through in December.
Façade Projects –
Life Safety Grants – Hedde Building – Peaceful Root –Rawr Holdings – Still moving
forward. Gdowski asked about the $310,000 for the Hedde Building. Nabity explained the
funds would not be paid out until the project is completed. Gdowski expressed concern
that the project may not be moving forward. Nabity said he would check before next
month on the status of the project.
Grand Island Regular Meeting - 12/9/2020 Page 7 / 70
Façade Projects - 2 facade applications that will be brought forward for approval next
month. Will need volunteers for the Façade Committee Meeting.
6. Redevelopment Plan Amendment for CRA Area #2 – Southeast
Commons/Fonner View Center 1201 S. Locust Street.
a. Consideration of Resolution 344 – Forward a Redevelopment Plan
Amendment to the Hall County Regional Planning Commission for
1201 S. Locust Street, Lots 1 and 3 of Fonner Third Subdivision –
They Raymond J O’Connor Revocable Trust.
b. Consideration of Resolution 345 – Resolution of Intent to enter into a
Site Specific Redevelopment Contract and Approval of related actions
30-day notice to city council for Commission for 1201 S. Locust
Street, Lots 1 and 3 of Fonner Park Third Subdivision – the Raymond J
O’Connor Revocable Trust.
Nabity stated the requests calls for redevelopment and renovation of this property
for commercial purposes. The plan requests $549,200 in tax increment financing
along with associated interest on the TIF bonds. Mr. O’Connor has also requested
$100,000 in façade improvement. Nabity stated the property is in a blighted
substandard area and recommends approval.
Mr. O’Conner explained Chief Construction will be doing the renovation of the
property. The bones of the structure are in good condition but the inside of the
building needs lots of work. If everything falls into place 60% will be leased.
A motion was made by Murray and second by Dutoit to approve resolution 344
and resolution 345. Upon roll call vote all, voted aye. Motion carried 3-0.
7. Grand Request from Railside for funding for outdoor speakers for Railside
District.
Cara Lemburg explained the Railside Board is requesting $17,000. They are
proposing to place speakers on 3 buildings most likely 40 North, GIX Logistics
and Prairie Pride Brewery. The speakers will be set up to play music appropriate
to the season or events occurring in the Railside District.
Councilman Minton mentioned a downpour of rain/thunderstorm could interfere
with the line of sight signal that is proposed and break it up. Cara said from what
she understands each place has to have wifi for connection. She does not know if
the main hub will be at 40 North. Councilman Minton asked if they have
considered an internet carrier instead of being line of sight. Cara did not know
what if that had been considered. Gdowski asked how this project fits in with
other grants that the CRA has done in the past. Nabity explained be similar to
the façade grants since it will enhance the exterior of the district and benefits the
district. Gdowski also asked if Downtown BID would be responsible for the
ongoing maintenance. Cara will bring up ongoing maintenance to the board.
Grand Island Regular Meeting - 12/9/2020 Page 8 / 70
A motion was made by Murray and second by Dutoit to approve. Upon roll call
vote all, voted aye. Motion carried 3-0.
8. Director’s Report
9. Adjournment
Adjournment at 4:32 P.M.
Next meeting 4:00 P.M. December 9, 2020
Respectfully Submitted,
Norma Hernandez
Administrative Assistant
Grand Island Regular Meeting - 12/9/2020 Page 9 / 70
Community Redevelopment
Authority (CRA)
Wednesday, December 9, 2020
Regular Meeting
Item C1
CRA November Financial 2020
Staff Contact:
Grand Island Regular Meeting - 12/9/2020 Page 10 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
CONSOLIDATED
Beginning Cash 947,539 677,632
REVENUE:
Property Taxes - CRA 6,282 29,176 504,203 475,027 5.79%
Property Taxes - Lincoln Pool 2,347 11,200 195,805 184,605 5.72%
Property Taxes -TIF's 27,589 329,517 4,858,000 4,786,835 6.78%
Loan Income (Poplar Street Water Line) - - 20,000 20,000 0.00%
Interest Income - CRA - 577 10,000 9,423 5.77%
Interest Income - TIF'S - - - -
Land Sales - - - - #DIV/0!
Other Revenue - CRA 924 1,186 200,000 198,814 0.59%
Other Revenue - TIF's - - - -
TOTAL REVENUE 37,141 371,655 5,788,008 5,674,705 6.42%
TOTAL RESOURCES 984,680 371,655 6,465,640 5,674,705
EXPENSES
Auditing & Accounting - - 3,000 3,000 0.00%
Legal Services - - 3,000 3,000 0.00%
Consulting Services - - 5,000 5,000 0.00%
Contract Services 5,561 10,103 75,000 64,897 13.47%
Printing & Binding - - 1,000 1,000 0.00%
Other Professional Services 3,945 3,945 16,000 12,055 24.66%
General Liability Insurance - - 250 250 0.00%
Postage - - 200 200 0.00%
Legal Notices 16 32 500 468 6.44%
Travel & Training - - 4,000 4,000 0.00%
Other Expenditures - - - -
Office Supplies - - 1,000 1,000 0.00%
Supplies - - 300 300 0.00%
Land - - 30,000 30,000
Bond Principal - Lincoln Pool 185,000 185,000 185,000 - 100.00%
Bond Interest 6,328 6,328 10,805 4,478 58.56%
Fiscal Agent Fees/Bond Costs - - - -
Husker Harvest Days - 200,000 200,000 - 100.00%
Façade Improvement - - 200,000 200,000 0.00%
Building Improvement - - 670,000 670,000 0.00%
Other Projects 3,000 200,000 197,000 1.50%
Bond Principal-TIF's 329,444 329,444 4,857,800 4,528,356 6.78%
Bond Interest-TIF's - - - -
Interest Expense - - - -
TOTAL EXPENSES 530,294 737,852 6,462,855 5,725,003 11.42%
INCREASE(DECREASE) IN CASH (493,153) (366,197) (674,847)
ENDING CASH 454,386 (366,197) 2,785 -
CRA CASH 457,640
Lincoln Pool Tax Income Balance (15,758)
TIF CASH 12,503
Total Cash 454,386
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
Grand Island Regular Meeting - 12/9/2020 Page 11 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
GENERAL OPERATIONS:
Property Taxes - CRA 6,282 29,176 504,203 475,027 5.79%
Property Taxes - Lincoln Pool 2,347 11,200 195,805 184,605 5.72%
Interest Income 577 10,000 9,423 5.77%
Loan Income (Poplar Street Water Line) - 20,000 20,000 0.00%
Land Sales - - - #DIV/0!
Other Revenue & Motor Vehicle Tax 924 1,186 200,000 198,814 0.59%
TOTAL 9,552 42,139 930,008 887,869 4.53%
WALNUT HOUSING PROJECT
Property Taxes - -
Interest Income - -
Other Revenue - - -
TOTAL - - - -
GIRARD VET CLINIC
Property Taxes 5,298 -
TOTAL - 5,298 - -
GEDDES ST APTS-PROCON
Property Taxes - -
TOTAL - - - -
SOUTHEAST CROSSING
Property Taxes - -
TOTAL - - - -
POPLAR STREET WATER
Property Taxes 924 924 -
TOTAL 924 924 - -
CASEY'S @ FIVE POINTS
Property Taxes - -
TOTAL - - - -
SOUTH POINTE HOTEL PROJECT
Property Taxes - -
TOTAL - - - -
TODD ENCK PROJECT
Property Taxes - -
TOTAL - - - -
JOHN SCHULTE CONSTRUCTION
Property Taxes - -
TOTAL - - - -
PHARMACY PROPERTIES INC
Property Taxes - -
TOTAL - - - -
KEN-RAY LLC
Property Taxes - -
TOTAL - - - -
Grand Island Regular Meeting - 12/9/2020 Page 12 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
TOKEN PROPERTIES RUBY
Property Taxes - -
TOTAL - - - -
GORDMAN GRAND ISLAND
Property Taxes 35,714 -
TOTAL - 35,714 - -
BAKER DEVELOPMENT INC
Property Taxes 1,906 -
TOTAL - 1,906 - -
STRATFORD PLAZA INC
Property Taxes - -
TOTAL - - - -
COPPER CREEK 2013 HOUSES
Property Taxes 2,049 13,667 -
TOTAL 2,049 13,667 - -
FUTURE TIF'S
Property Taxes - 4,858,000 4,858,000
TOTAL - - 4,858,000 4,858,000
CHIEF INDUSTRIES AURORA COOP
Property Taxes - -
TOTAL - - - -
TOKEN PROPERTIES KIMBALL ST
Property Taxes - -
TOTAL - - - -
GI HABITAT OF HUMANITY
Property Taxes - -
TOTAL - - - -
AUTO ONE INC
Property Taxes - -
TOTAL - - - -
EIG GRAND ISLAND
Property Taxes - -
TOTAL - - - -
TOKEN PROPERTIES CARY ST
Property Taxes - -
TOTAL - - - -
Grand Island Regular Meeting - 12/9/2020 Page 13 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
WENN HOUSING PROJECT
Property Taxes 2,336 (2,336)
TOTAL - 2,336 - (2,336)
COPPER CREEK 2014 HOUSES
Property Taxes 12,673 40,445 (40,445)
TOTAL 12,673 40,445 - (40,445)
TC ENCK BUILDERS
Property Taxes - -
TOTAL - - - -
SUPER MARKET DEVELOPERS
Property Taxes - -
TOTAL - - - -
MAINSTAY SUITES
Property Taxes - -
TOTAL - - - -
TOWER 217
Property Taxes - -
TOTAL - - - -
COPPER CREEK 2015 HOUSES
Property Taxes 6,261 28,311 - (28,311)
TOTAL 6,261 28,311 - (28,311)
NORTHWEST COMMONS
Property Taxes - - -
TOTAL - - - -
HABITAT - 8TH & SUPERIOR
Property Taxes - -
TOTAL - - - -
KAUFMAN BUILDING
Property Taxes - -
TOTAL - - - -
TALON APARTMENTS
Property Taxes - -
TOTAL - - - -
VICTORY PLACE
Property Taxes - -
TOTAL - - - -
THINK SMART
Property Taxes - -
TOTAL - - - -
Grand Island Regular Meeting - 12/9/2020 Page 14 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
BOSSELMAN HQ
Property Taxes - -
TOTAL - - - -
TALON APARTMENTS 2017
Property Taxes - -
TOTAL - - - -
WEINRICH DEVELOPMENT
Property Taxes - -
TOTAL - - - -
WING WILLIAMSONS
Property Taxes - -
TOTAL - - - -
HATCHERY HOLDINGS
Property Taxes - -
TOTAL - - - -
FEDERATION LABOR TEMPLE
Property Taxes 3,519 (3,519)
TOTAL - 3,519 - (3,519)
MIDDLETON PROPERTIES II
Property Taxes - -
TOTAL - - - -
COPPER CREEK 2016 HOUSES
Property Taxes 18,782 (18,782)
TOTAL - 18,782 - (18,782)
MENDEZ ENTERPRISES LLC PHASE 1
Property Taxes 72 (72)
TOTAL - 72 - (72)
EAST PARK ON STUHR
Property Taxes - -
TOTAL - - - -
TAKE FLIGHT INVESTMENTS
Property Taxes 5,683 5,683 (5,683)
TOTAL 5,683 5,683 - (5,683)
PRATARIA VENTURES HOSPITAL
Property Taxes 172,859 (172,859)
TOTAL - 172,859 - (172,859)
AMMUNITION PLANT
Property Taxes - -
TOTAL - - - -
URBAN ISLAND LLC
Property Taxes - -
TOTAL - - - -
Grand Island Regular Meeting - 12/9/2020 Page 15 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
PEACEFUL ROOT
Property Taxes - -
TOTAL - - - -
TOTAL REVENUE 31,457 371,655 5,788,008 5,674,705 6.42%
- -
Grand Island Regular Meeting - 12/9/2020 Page 16 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
EXPENSES
CRA
GENERAL OPERATIONS:
Auditing & Accounting - 3,000 3,000 0.00%
Legal Services - 3,000 3,000 0.00%
Consulting Services - 5,000 5,000 0.00%
Contract Services 5,561 10,103 75,000 64,897 13.47%
Printing & Binding - 1,000 1,000 0.00%
Other Professional Services 3,945 3,945 16,000 12,055 24.66%
General Liability Insurance - 250 250 0.00%
Postage - 200 200 0.00%
Legal Notices 16 32 500 468 6.44%
Travel & Training - 4,000 4,000 0.00%
Other Expenditures - - -
Office Supplies - 1,000 1,000 0.00%
Supplies - 300 300 0.00%
Land - 30,000 30,000
Bond Principal - Lincoln Pool 185,000 185,000 185,000 - 100.00%
Bond Interest - Lincoln Pool 6,328 6,328 10,805 4,478 58.56%
Fiscal Agent Fees/Bond Costs - - - #DIV/0!
PROJECTS
Husker Harvest Days 200,000 200,000 - 100.00%
Façade Improvement - 200,000 200,000 0.00%
Building Improvement 3,000 670,000 667,000 0.00%
Other Projects - 200,000 200,000 0.00%
TOTAL CRA EXPENSES 200,849 408,408 1,605,055 1,196,647 25.45%
WALNUT HOUSING PROJECT
Bond Principal - - -
Bond Interest - - -
TOTAL - - - -
GIRARD VET CLINIC
Bond Principal 5,298 5,298 - -
TOTAL 5,298 5,298 - -
GEDDES ST APTS - PROCON
Bond Principal - - -
TOTAL - - - -
SOUTHEAST CROSSINGS
Bond Principal - - -
TOTAL - - - -
POPLAR STREET WATER
Bond Principal 924 924 - -
TOTAL 924 924 - -
CASEY'S @ FIVE POINTS
Bond Principal - - -
TOTAL - - - -
Grand Island Regular Meeting - 12/9/2020 Page 17 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
SOUTH POINTE HOTEL PROJECT
Bond Principal - - -
TOTAL - - - -
TODD ENCK PROJECT
Bond Principal - - -
TOTAL - - - -
JOHN SCHULTE CONSTRUCTION
Bond Principal - - -
TOTAL - - - -
PHARMACY PROPERTIES INC
Bond Principal - - -
TOTAL - - - -
KEN-RAY LLC
Bond Principal - - -
TOTAL - - - -
TOKEN PROPERTIES RUBY
Bond Principal - - -
TOTAL - - - -
GORDMAN GRAND ISLAND
Bond Principal 35,714 35,714 - -
TOTAL 35,714 35,714 - -
BAKER DEVELOPMENT INC
Bond Principal 1,906 1,906 - -
TOTAL 1,906 1,906 - -
STRATFORD PLAZA LLC
Bond Principal - - -
TOTAL - - - -
COPPER CREEK 2013 HOUSES
Bond Principal 13,667 13,667 - -
TOTAL 13,667 13,667 - -
CHIEF INDUSTRIES AURORA COOP
Bond Principal - - -
TOTAL - - - -
TOKEN PROPERTIES KIMBALL STREET
Bond Principal - - -
TOTAL - - - -
GI HABITAT FOR HUMANITY
Bond Principal - - -
TOTAL - - - -
Grand Island Regular Meeting - 12/9/2020 Page 18 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
AUTO ONE INC
Bond Principal - - -
TOTAL - - - -
EIG GRAND ISLAND
Bond Principal - - -
TOTAL - - - -
TOKEN PROPERTIES CARY STREET
Bond Principal - - -
TOTAL - - - -
WENN HOUSING PROJECT
Bond Principal 2,336 2,336 - -
TOTAL 2,336 2,336 - -
COPPER CREEK 2014 HOUSES
Bond Principal 40,445 40,445 - -
TOTAL 40,445 40,445 - -
TC ENCK BUILDERS
Bond Principal - - -
TOTAL - - - -
SUPER MARKET DEVELOPERS
Bond Principal - - -
TOTAL - - - -
MAINSTAY SUITES
Bond Principal - - -
TOTAL - - - -
TOWER 217
Bond Principal - - -
TOTAL - - - -
COPPER CREEK 2015 HOUSES
Bond Principal 28,311 28,311 - -
TOTAL 28,311 28,311 -
NORTHWEST COMMONS
Bond Principal - - -
TOTAL - - -
HABITAT - 8TH & SUPERIOR
Bond Principal - - -
TOTAL - - -
KAUFMAN BUILDING
Bond Principal - - -
TOTAL - - -
Grand Island Regular Meeting - 12/9/2020 Page 19 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
TALON APARTMENTS
Bond Principal - - -
TOTAL - - -
VICTORY PLACE
Bond Principal - - -
TOTAL - - -
FUTURE TIF'S
Bond Principal - 4,857,800 4,857,800
TOTAL - - 4,857,800 4,857,800
THINK SMART
Bond Principal - - -
TOTAL - - -
BOSSELMAN HQ
Bond Principal - - -
TOTAL - - -
TALON APARTMENTS 2017
Bond Principal - - -
TOTAL - - -
WEINRICH DEVELOPMENT
Bond Principal - - -
TOTAL - - -
WING WILLIAMSONS
Bond Principal - - -
TOTAL - - -
HATCHERY HOLDINGS
Bond Principal - - -
TOTAL - - -
FEDERATION LABOR TEMPLE
Bond Principal 3,519 3,519 - -
TOTAL 3,519 3,519 -
MIDDLETON PROPERTIES II
Bond Principal - - -
TOTAL - - -
COPPER CREEK 2016 HOUSES
Bond Principal 18,782 18,782 - -
TOTAL 18,782 18,782 -
EAST PARK ON STUHR
Bond Principal - - -
TOTAL - - -
TAKE FLIGHT INVESTMENTS
Bond Principal 5,683 5,683 - -
TOTAL 5,683 5,683 -
Grand Island Regular Meeting - 12/9/2020 Page 20 / 70
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
November-20 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF NOVEMBER 2020
PRATARIA VENTURES HOSPITAL
Bond Principal 172,859 172,859 - -
TOTAL 172,859 172,859 -
AMMUNITION PLANT
Bond Principal - - -
TOTAL - - -
URBAN ISLAND LLC
Bond Principal - - -
TOTAL - - -
PEACEFUL ROOT
Bond Principal - - -
TOTAL - - -
TOTAL EXPENSES 351,751 737,852 6,462,855 6,054,447 11.42%
Grand Island Regular Meeting - 12/9/2020 Page 21 / 70
Community Redevelopment
Authority (CRA)
Wednesday, December 9, 2020
Regular Meeting
Item E1
CRA November 2020 Committed Projects
Staff Contact:
Grand Island Regular Meeting - 12/9/2020 Page 22 / 70
COMMITTED PROJECTS REMAINING
GRANT
AMOUNT
2021 FISCAL YR 2022 FISCAL YR 2023 FISCAL YR ESTIMATED
COMP
GI Vets Home (Other Grants) $ 265,000.00 $ 265,000.00 Spring 2021
Railside Business Improvement District $ 17,000.00 $ 17,000.00
Total Committed $ 282,000.00 $ 282,000.00 $ - $ -
FIRE & LIFE SAFETY GRANT TOTAL
AMOUNT
2021 FISCAL YR 2022 FISCAL YR 2023 FISCAL YR ESTIMATED
COMP
201-203 W. 3rd St. Anson (8-24-16) $ 310,000.00 $ 310,000.00 Spring 2020
Peaceful Root 217 N Locust (9/18/19) $ 70,000.00 $ 70,000.00
Rawr Holdings 110 W 2nd (12/12/18) $ 35,000.00 $ 35,000.00 Winter 2019
Total Committed F&L Safety Grant $ 415,000.00 $ 415,000.00 $ - $ -
BUDGET COMMITTED LEFT
Façade Budgeted 2021 $ 200,000.00 $ - $ 200,000.00
Other Projects Budgeted 2021 $ 200,000.00 $ 17,000.00 $ 183,000.00
Land - Budgeted 2021 $ 30,000.00 $ - $ 30,000.00
Land Sales Budgeted 2021 $ - $ - $ -
subtotal $ 17,000.00 $ 413,000.00
Less committed ($697,000.00)$0.00
Balance remaining $ (680,000.00) $ 413,000.00
BUDGET PAID LEFT
Building Improvements * $ 670,000.00 $ - $ 670,000.00
*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
November 30, 2020
Grand Island Regular Meeting - 12/9/2020 Page 23 / 70
Community Redevelopment
Authority (CRA)
Wednesday, December 9, 2020
Regular Meeting
Item F1
Facade Application - Rise Properties -
Staff Contact:
Grand Island Regular Meeting - 12/9/2020 Page 24 / 70
Façade Improvement Program Application
Project Redeveloper Information
I. Applicant Name: Rise Properties
Address: 121 ½ West 3rd, Grand Island NE 68801
Telephone No.: (308) 258-2294
Contact: Sierra Arends
II. Legal Street Address of Project Site: 119 West 3rd
III. Zoning of Project Site: Commercial
IV. Current and Contemplated Use Of Project: Vacant /Retail storefront
V. Present Ownership of Project Site: Rise Properties
VI. Proposed Project: Describe in detail; attach plans and specifications:
See Attached ______
______
______
__________________________________________________________________
__________________________________________________________________
_____________________________ ______
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VI. Estimated Project Costs:
Acquisition Costs:
A. Land $ 0
B. Building $ 97,500
Construction Costs:
A. Renovation or Building Costs Attributable
to Façade Improvements (attach detail): $ 59,477
B. Other Construction Costs: $ 30,000
VIII. Source of Financing:
A. Developer Equity: $2,500
B. Commercial Bank Loan: $125,000
C. Historic Tax Credits $
D. Tax Increment Assistance: $
E. Other (Describe: Façade Grant) $ 59,447
IX. Name, Address of Architect, Engineer and General Contractor:
General Contractor: Amos Anson, Empire Development, PO Box 1665 Grand Island NE 68802 308-390-2455
Architect: Stacy J Spotanski/ Toby Gay, Gay & Associates, 1470 31st Ave, Columbus, NE (308) 850-8186
X. Project Construction Schedule:
A. Construction Start Date: Upon CRA Façade
B. Construction Completion Date: 2021________________________________
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FINANCING REQUEST INFORMATION
I. Describe Amount and Purpose for Which Façade Improvement Program funds is
Requested: The amount of Façade dollars being asked for is $59,477. These funds
will be used to renovate the front of the building.
II. Statement Identifying Financial Gap and Necessity for use of Façade
Improvement Program Funds for Proposed Project: Due to the nature of
construction and financing of downtown real-estate, a façade grant is necessary to
bring the building closer to its fullest potential.
III. Application of Grant Funds:
______________X__________________Grant to Redeveloper; or
________________________________Interest Rate Buy-Down
Post Office Box 1968
Grand Island, Nebraska 68802-1968
Phone: 308 385-5240
Fax: 308 385-5423
Email: cnabity@grand-island.com
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3 0 8 . 3 9 0 . 24 5 5 / amo s an s on @ g m a i l . c om
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Community Redevelopment
Authority (CRA)
Wednesday, December 9, 2020
Regular Meeting
Item I1
Redevelopment Plan Amendment for CRA Area #2 - Southeast
Commons/Fonner View Center 1201 S. Locust Street
Staff Contact:
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COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 346
A RESOLUTION RECOMMENDING APPROVAL OF A REDEVELOPMENT PLAN OF
THE CITY OF GRAND ISLAND, NEBRASKA; RECOMMENDING APPROVAL OF A
REDEVELOPMENT PROJECT OF THE CITY OF GRAND ISLAND, NEBRASKA;
APPROVING A COST BENEFIT ANALYSIS FOR SUCH PROJECT; AND APPROVAL OF
RELATED ACTIONS
WHEREAS, the Mayor and Council of the City of Grand Island, Nebraska (the “City”), upon the
recommendation of the Planning Commission of the City of Grand Island, Nebraska (the “Planning
Commission”), and in compliance with all public notice requirements imposed by the Community
Development Law, Chapter 18, Article 21, Reissue Revised Statutes of Nebraska, as amended (the “Act”),
duly declared the redevelopment area legally described on Exhibit A attached hereto (the “Redevelopment
Area”) to be blighted and substandard and in need of redevelopment; and
WHEREAS, pursuant to and in furtherance of the Act, a Redevelopment Plan (the
“Redevelopment Plan”), has been prepared by Community Redevelopment Authority of Grand Island,
Nebraska, (the “Authority”) pursuant to an application by Raymond J. O’Connor representing various
interests. (the “Redeveloper”), in the form attached hereto as Exhibit B, for the purpose of redeveloping
Redevelopment Area legally described on Exhibit A, referred to herein as the Project Area (the “Project
Area”); and
WHEREAS, pursuant to the Redevelopment Plan, the Authority would agree to incur indebtedness
and make a grant for the purposes specified in the Redevelopment Plan (the “Project”), in accordance with
and as permitted by the Act; and
WHEREAS, the Authority has conducted a cost benefit analysis of the Project (the “Cost Benefit
Analysis”) pursuant to Section 18-2113 of the Act, a which is included in the Redevelopment Plan attached
hereto as Exhibit B; and
WHEREAS, the Authority has made certain findings and pursuant thereto has determined that it
is in the best interests of the Authority and the City to approve the Redevelopment Plan and approve the
Redevelopment Project and to approve the transactions contemplated thereby.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA AS FOLLOWS:
Section 1. The Authority has determined that the proposed land uses and building requirements in
the Redevelopment Plan for the Project Area are designed with the general purposes of accomplishing, and
in conformance with the general plan of the City, a coordinated, adjusted, and harmonious development of
the City and its environs which will, in accordance with present and future needs, promote health, safety,
morals, order, convenience, prosperity and the general welfare, as well as efficiency in 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 provisions 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 communitive
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 unsanitary or unsafe dwelling
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accommodations, or conditions of blight.
Section 2. The Authority has conducted a Cost Benefit Analysis for the Project, included in the
Redevelopment Plan attached hereto as Exhibit B, in accordance with the Act, and has found and hereby
finds that the Project would not be economically feasible without the use of tax increment financing, the
Project would not occur in the Project Area without the use of tax increment financing and the costs and
benefits of the Project, including costs and benefits to other affected political subdivisions, the economy of
the community, and the demand for public and private services, have been analyzed and have been found
to be in the long term best interests of the community impacted by the Project.
Section 3. In compliance with section 18-2114 of the Act, the Authority finds and determines as
follows: (a) the Redevelopment Area constituting the Redevelopment Project will not be acquired by the
Authority and the Authority shall receive no proceeds from disposal to the Redeveloper; (b) the estimated
cost of project acquisition and the estimated cost of preparation for redevelopment including site work,
onsite utilities and related costs are described in detail in Exhibit B attached hereto; (c) the method of
acquisition of the real estate shall be by private contract by the Redeveloper and not by condemnation; and
(d) the method of financing the Redevelopment Project shall be by issuance of tax increment revenue bond
issued in the approximate amount of $549,200 which shall be granted to the Redeveloper and from
additional funds provided by the Redeveloper. No families will be displaced from the Redevelopment
Project Area as a result of the project.
Section 4. The Authority hereby recommends to the City approval of the Redevelopment Plan and
the Redevelopment Project described in the Redevelopment Plan.
Section 5. All prior resolutions of the Authority in conflict with the terms and provisions of this
resolution are hereby expressly repealed to the extent of such conflicts.
Section 6. This resolution shall be in full force and effect from and after its passage and approval.
PASSED AND APPROVED this 9th day of December, 2020.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND NEBRASKA
ATTEST: By: ___________________________________
Chair
By: ___________________________________
Secretary
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EXHIBIT A
LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA
Lots One (1) and Three (3) Fonner Third Subdivision, in the City of Grand Island, Hall
County, Nebraska, excepting therefrom tracts of land described in Warranty Deed
recorded as Document No. 82-003073, Warranty Deed recorded as Document No. 95-
105533 and Warranty Deed recorded as Document No. 2003216358.
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* * * * *
EXHIBIT B
FORM OF REDEVELOPMENT PLAN
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Redevelopment Plan Amendment
Grand Island CRA Area 2
October 2020
The Community Redevelopment Authority (CRA) of the City of Grand Island
intends to amend the Redevelopment Plan for Area 2 within the city, pursuant to
the Nebraska Community Development Law (the “Act”) and provide for the
financing of a specific housing related project in Area 2.
Executive Summary:
Project Description
THE ACQUISITION OF PROPERTY AT 1201 S LOCUST STREET AND THE
SUBSEQUENT SITE WORK, UTILITY IMPROVEMENTS, ENGINEERING,
LANDSCAPING, REHABILITATIN AND PARKING IMPROVEMENTS
NECESSARY FOR REDEVELOPMENT OF THIS PROPERTY.
The use of Tax Increment Financing (TIF) to aid in the acquisition of property, necessary
site work and rehabilitation necessary to develop this site. The use of TIF makes it
feasible to complete the proposed project within the timeline presented. This project
would not be considered at this time and location without the use of TIF. Financing for
the project is contingent on TIF
The acquisition, site work and construction of all improvements will be paid for by the
developer. The developer is responsible for and has provided evidence that they can
secure adequate debt financing to cover the costs associated with the acquisition, site
work and remodeling. The Grand Island Community Redevelopment Authority (CRA)
intends to pledge the ad valorem taxes generated over the 15 year period beginning
January 1, 2022 towards the allowable costs and associated financing for the acquisition
and site work.
TAX INCREMENT FINANCING TO PAY FOR THE ACQUISTION OF THE
PROPERTY AND RELATED SITE WORK WILL COME FROM THE
FOLLOWING REAL PROPERTY:
Property Description (the “Redevelopment Project Area”)
This property is located south of Fonner Park Road and east of Locust in south central
Grand Island, the attached map identifies the subject property and the surrounding land
uses:
Legal Description Lots One (1) and Three (3) Fonner Third
Subdivision, in the City of Grand Island, Hall County, Nebraska, excepting
therefrom tracts of land described in Warranty Deed recorded as Document No.
82-003073, Warranty Deed recorded as Document No. 95-105533 and Warranty
Deed recorded as Document No. 2003216358.
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Existing Land Use
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This plan amendment provides for the issuance TIF Notes, the proceeds of which
will be granted to the Redeveloper. The tax increment will be captured for up to 15
tax years the payments for which become delinquent in years 2022 through 2036
inclusive or as otherwise dictated by the contract.
The real property ad valorem taxes on the current valuation will continue to be paid
to the normal taxing entities. The increase will come from the construction of new
commercial space on this property.
Statutory Pledge of Taxes.
In accordance with Section 18-2147 of the Act and the terms of the Resolution, the
Authority hereby provides that any ad valorem tax on any Lot or Lots located in the
Redevelopment Project Area identified from time to time by the Redeveloper (such Lot
or Lots being referred to herein as a "Phase") as identified in a written notice from the
Redeveloper to the Authority (each, a "Redevelopment Contract Amendment Notice") for
the benefit of any public body be divided for a period of fifteen years after the effective
date of this provision as set forth in the Redevelopment Contract Amendment Notice and
reflected in a Redevelopment Contract Amendment, consistent with this Redevelopment
Plan. Said taxes shall be divided as follows:
a. That portion of the ad valorem tax which is produced by levy at the rate
fixed each year by or for each public body upon the redevelopment project valuation shall
be paid into the funds, of each such public body in the same proportion as all other taxes
collected by or for the bodies; and
b. That portion of the ad valorem tax on real property in the
redevelopment project in excess of such amount, if any, shall be allocated to and, when
collected, paid into a special fund of the Authority to pay the principal of; the interest on,
and any premiums due in connection with the bonds, loans, notes, or advances on money
to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise,such
Authority for financing or refinancing, in whole or in part, a redevelopment project.
When such bonds, loans, notes, advances of money, or indebtedness including interest
and premium due have been paid, the Authority shall so notify the County Assessor and
County Treasurer and all ad valorem taxes upon real property in such redevelopment
project shall be paid into the funds of the respective public bodies.
Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged
to the repayment of loans or advances of money, or the incurring of any indebtedness,
whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in
whole or in part, the redevelopment project, including the payment of the principal of,
premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness.
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Redevelopment Plan Amendment Complies with the Act:
The Community Development Law requires that a Redevelopment Plan and Project
consider and comply with a number of requirements. This Plan Amendment meets the
statutory qualifications as set forth below.
1. The Redevelopment Project Area has been declared blighted and substandard by
action of the Grand Island City Council on September 13, 1999.[§18-2109] Such
declaration was made after a public hearing with full compliance with the public
notice requirements of §18-2115 of the Act.
2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (26)
(a) and §18-2110]
Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan
amendment and project are consistent with the Comprehensive Plan, in that no changes in
the Comprehensive Plan elements are intended. This plan merely provides funding for
the developer to acquire the necessary property and provide the necessary site work,
utilities and street improvements needed for the construction of a permitted use on this
property. The Hall County Regional Planning Commission held a public hearing at their
meeting on December 2, 2020 and passed Resolution 2021-01 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(26) (b)]
a. Land Acquisition:
The Redevelopment Plan for Area 2 provides for real property acquisition and this plan
amendment does not prohibit such acquisition. There is no proposed acquisition by the
authority. The applicant acquired the property for $625,000 on October 1, 2020. It is
further anticipated that the owner may sell a portions of this property to other entities
most likely through a condominium arrangement.
b. Demolition and Removal of Structures:
The project to be implemented with this plan will not require complete demolition of any
existing structures. It is anticipated that the existing structures will be rehabilitated both
inside and out.
c. Future Land Use Plan
See the attached map from the 2004 Grand Island Comprehensive Plan. The site is
planned for commercial development. [§18-2103(b) and §18-2111] The attached map
also is an accurate site plan of the area after redevelopment. [§18-2111(5)]
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City of Grand Island Future Land Use Map
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d. Changes to zoning, street layouts and grades or building codes or ordinances or
other Planning changes.
The area is zoned B2-AC General Business zone with an Arterial Commercial Overlay.
No zoning changes are necessary. 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 restore and renovate the retail/commercial/office
development at this location. The proposed development will be limited to either the
65% coverage allowed in the B2-AC zoning district. [§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 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 amendment does not
provide for acquisition of any residences and therefore, no relocation is
contemplated. [§18-2103.02]
5. No member of the Authority, nor any employee thereof holds any interest in any
property in this Redevelopment Project Area. [§18-2106]
6. Section 18-2114 of the Act requires that the Authority consider:
a. Method and cost of acquisition and preparation for redevelopment and estimated
proceeds from disposal to redevelopers.
The developer purchased this property for $625,000 on October 1, 2020. The cost of
property acquisition is being included as a TIF eligible expense. Total costs for
renovation are estimated at $2,514,790. An additional $5,700 of expenses for legal work,
fees and financial tracking of this project are also included as eligible expenses for a total
maximum TIF request of $3,145,490. It is estimated based on the proposed increased
valuation to $1,639,083 will result in $549,200 of increment generated over a 15 year
period. This project should pay off prior to the end of the 15 year bond period..
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No property will be transferred to redevelopers by the Authority. The developer will
provide and secure all necessary financing.
b. Statement of proposed method of financing the redevelopment project.
The developer will provide all necessary financing for the project. The Authority will
assist the project by granting the sum of not less than $549,200 from the proceeds of the
TIF Indebtedness issued by the Authority. This indebtedness will be repaid from the Tax
Increment Revenues generated from the project. This indebtedness will be repaid from
the Tax Increment Revenues generated from the project. TIF revenues shall be made
available to repay the original debt and associated interest according to the approved
contract.
c. Statement of feasible method of relocating displaced families.
No families will be displaced as a result of this plan.
7. Section 18-2113 of the Act requires:
Prior to recommending a redevelopment plan to the governing body for approval, an
authority shall consider whether the proposed land uses and building requirements in the
redevelopment project area are designed with the general purpose of accomplishing, in
conformance with the general plan, a coordinated, adjusted, and harmonious development
of the city and its environs which will, in accordance with present and future needs,
promote health, safety, morals, order, convenience, prosperity, and the general welfare, as
well as efficiency and economy in the process of development, including, among other
things, adequate provision for traffic, vehicular parking, the promotion of safety from
fire, panic, and other dangers, adequate provision for light and air, the promotion of the
healthful and convenient distribution of population, the provision of adequate
transportation, water, sewerage, and other public utilities, schools, parks, recreational and
community facilities, and other public requirements, the promotion of sound design and
arrangement, the wise and efficient expenditure of public funds, and the prevention of the
recurrence of insanitary or unsafe dwelling accommodations or conditions of blight.
The Authority has considered these elements in proposing this Plan Amendment. This
amendment, in and of itself will promote consistency with the Comprehensive Plan, in
that it will allow for the renovation and enhanced utilization of vacant commercial space
this location. This will have the intended result of preventing recurring elements of
unsafe buildings and blighting conditions.
8. Time Frame for Development
Development of this project is anticipated to be completed between January of 2021 and
Summer of 2021. Excess valuation should be available for this project for 15 years
beginning with the 2022 tax year.
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9. Justification of Project
This is infill development in an area with all city services available. The commercial
space on this corner was rebuilt after the tornadoes in 1980. This corner has been a key
commercial corner in Grand Island until the last few years. Over the past 2 years anchor
tenants at this location including Burger King and Texas T Bone have moved to new
buildings further south on the Locust Corridor. This is an ideal time to renovate this
building with minimal disruption to existing businesses.
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
project, including:
Project Sources and Uses. A minimum of $549,200 in public funds from tax increment
financing provided by the Grand Island Community Redevelopment Authority will be
required to complete the project. This investment by the Authority will leverage
$2,596,290 in private sector financing and investment; a private investment of $4.72 for
every TIF dollar investment. It is estimated this will pay off in 15 years.
Use of Funds.Source of Funds
Description TIF Funds Private Funds Total
Site Acquisition $549,200 $75,800 $625,000
Rehabilitation
(Arch/Permits inc.)
$2,514,790 $2,514,790
Legal/City Fees $5,700 $5,700
TOTALS $549,200 $2,596,290 $3,145,490
Tax Revenue. The property to be redeveloped is expected to have has a January 1, 2021,
valuation of approximately $625,000. Based on the 2019 levy this would result in a real property
tax of approximately $12,961. It is anticipated that the assessed value will increase by
$1,639,083 upon full completion, as a result of the site redevelopment. This development will
result in an estimated tax increase of over $36,613 annually resulting in approximately $549,200
of increment over the 15 year period. The tax increment gained from this Redevelopment Project
Area would not be available for use as city general tax revenues, for a period of 15 years, or such
shorter time as may be required to amortize the TIF bond, but would be used for eligible private
redevelopment costs to enable this project to be realized.
Estimated 2021 assessed value: $ 625,000
Estimated value after completion $ 2,264,083
Increment value $ 1,639,083
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Annual TIF generated (estimated) $ 36,613
TIF bond issue $ 549,200
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area has an estimated valuation of $625,000. The
proposed improvements at this location will result in at least an additional $1,639,083 of
taxable valuation based on the Hall County Assessor’s office evaluation of the project.
No tax shifts are anticipated from the project. The project creates additional valuation
that will support taxing entities long after the project is paid off. The project will not add
any tax burdens to taxing entities. Therefore no tax shifts will occur.
(b) Public infrastructure and community public service needs impacts and local tax
impacts arising from the approval of the redevelopment project;
No additional public service needs have been identified. Existing water and waste
water facilities will not be impacted by this development. The electric utility has
sufficient capacity to support the development. It is not anticipated that this will impact
schools. Fire and police protection are available and should not be impacted by this
development.
(c) Impacts on employers and employees of firms locating or expanding within the
boundaries of the area of the redevelopment project;
The proposed uses at this site would compete for entry level and part time positions along
with similar travel and entertainment type businesses located in and locating in the City.
(d) Impacts on other employers and employees within the city or village and the
immediate area that are located outside of the boundaries of the area of the
redevelopment project; and
This project is unlikely to have an impact on other employers and employees within
the city.
(e)Impacts on the student population of school districts within the city or village;
and
This project is unlikely to create any direct increase in cost for schools in the area. This
project does not involve housing and is limited to renovation of an existing commercial
site.
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(f) Any other impacts determined by the authority to be relevant to the
consideration of costs and benefits arising from the redevelopment project.
This is a prominent corner on the Locust Corridor near the Water Park, Fonner Park and
the State Fair Grounds. The property has dropped into disrepair and vacancy over the
past several years. Reinvestment in this property will sustain the development that has
occurred near this location.
Time Frame for Development
Development of this project is anticipated to be completed during between January 2021
and Summer of 2021 to white box finish. The base tax year should be calculated on the
value of the property as of January 1, 2021. Excess valuation should be available for this
project for 15 years beginning in the 2022 tax year. Excess valuation will be used to pay
the TIF Indebtedness issued by the CRA per the contract between the CRA and the
developer for a period not to exceed 15 years. Based on the purchase price of the
property and estimates of the expenses including the cost acquisition and renovation, the
developer will spend upwards of $3,145,000 on TIF eligible activities. The full amount
of TIF generated over a 15 year period would be $549,200.
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