04-14-2021 Community Redevelopment Authority Regular Meeting Packet
Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
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 - 4/14/2021 Page 1 / 98
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 - 4/14/2021 Page 2 / 98
Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
Regular Meeting
Item A1
Agenda - April 14, 2021
Staff Contact:
Grand Island Regular Meeting - 4/14/2021 Page 3 / 98
Grand Island Regular Meeting - 4/14/2021 Page 4 / 98
Grand Island Regular Meeting - 4/14/2021 Page 5 / 98
COMMUNITY REDEVELOPMENT AUTHORITY
AGENDA MEMORANDUM
4 p.m. Wednesday, April 14, 2021
2. APPROVAL OF MINUTES. The minutes of the Community Redevelopment
Authority meeting March 10, 2021 are submitted for approval. A MOTION is in
order.
3. APPROVAL OF FINANCIAL REPORTS. Financial reports for the period of March
1 through March 31, 2021 are submitted for approval. A MOTION is in order.
4. APPROVAL OF BILLS. Payment of bills in the amount of $4,093.52 is submitted
for approval. A MOTION is in order.
5. REVIEW OF COMMITTED PROJECTS AND CRA PROPERTIES.
6. FAÇADE IMPROVEMENT GRANT/OTHER GRANTS 321 W. 2ND STREET
(CARNEGIE LIBRARY)
The new owner of the Carnegie Library Building, Zachary Zoul is requesting a façade
improvement/ other projects grant of $85,000 to enhance and renew the façade on the
history library building at 321 W. 2nd Street. The total cost of the façade project is
estimated was originally estimated at $85,000 but bids have come in much higher
from crafts people qualified to work on and restore the building.. The developer
purchased the building for $300,000 in 2021. A CRA Façade committee (Sue Pirnie,
Jim Truell and Ken Frederick) has reviewed the application and is recommending
approval of this application with $40,500 from the façade line and $44,500 from the
other projects line.
7. REDEVELOPMENT PLAN AMENDMENT – BOSSELMAN REAL ESTATE
LLC.- 1607 S. LOCUST Concerning an amendment to the redevelopment plan for
CRA Area No. 2 for lots 1 of the Fonner Fourth Subdivision located south of Fonner
Park Road and east of Locust Street at 1607 S. Locust (Bosselman Headquarters).
The request calls for redevelopment and renovation of this property for commercial
purposes. This amended plan changes the phase 2 of the project, a proposed hotel
along Locust Street, to a quick serve restaurant. The request does not change the
amount of TIF granted toward the project but does change the amount likely to be
paid out. There are nine years left on this project. The proposed changes are not
minor in nature and scope so the plan needs to be amended to reflect the proposed
redevelopment. The CRA may forward the plan to the Regional Planning
Commission for review and to the Grand Island City Council to give 30-day notice of
a potential development contract. A MOTION to approve Resolution 348 (forward to
Regional Planning Commission) and Resolution 349 (30-day intent notice to city
council) is in order.
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8. REDEVELOPMENT PLAN AMENDMENT – Ebc Obermiller LLC. (Miller Tire)-
722 N. EDDY STREET. Concerning an amendment to the redevelopment plan for
CRA Area No. 6 for lots 1, 2 and 3 Block 14 of the HG Clarks Addition located south
of 8th Street and west of Eddy Street at 722 N Eddy Street. The request calls for
redevelopment and renovation of this property for commercial purposes. The plan
requests $318,285 in tax increment financing along with associated interest on the
TIF bonds. The CRA may forward the plan to the Regional Planning Commission for
review and to the Grand Island City Council to give 30-day notice of a potential
development contract. A MOTION to approve Resolution 350 (forward to Regional
Planning Commission) and Resolution 351 (30-day intent notice to city council) is in
order.
9. DIRECTOR’S REPORT.
10. ADJOURNMENT
Chad Nabity
Director
Grand Island Regular Meeting - 4/14/2021 Page 7 / 98
Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
Regular Meeting
Item B1
Minutes March 10, 2021 Meeting
Staff Contact:
Grand Island Regular Meeting - 4/14/2021 Page 8 / 98
OFFICIAL PROCEEDINGS
MINUTES OF
COMMUNITY REDEVELOPMENT AUTHORITY
MEETING OF
March 10, 2021
Pursuant to due call and notice thereof, a Meeting of the Community Redevelopment Authority of
the City of Grand Island, Nebraska was conducted on March 10, 2021 at City Hall, 100 E. First
Street. Notice of the meeting was given in the March 3, 2021 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, Glenn Murray, Sue Pirnie in person and Krae Dutoit via phone as
allowed by executive order 21-02. Also present were: Director Chad Nabity,
Administrative Assistant Norma Hernandez, Finance Director Patrick Brown and
Assistant Finance Director Brian Schultz and Councilman Vaugh Minton.
2.APPROVAL OF MINUTES.
A motion for approval of the Minutes for the February 10, 2021 was made by Pirnie and
seconded by Murray. Upon roll call vote, all present voted aye.
Motion carried 4-0
3.APPROVAL OF FINANCIAL REPORTS.
Brian Shultz reviewed the financial reports. A motion was made by Murray and seconded
by Pirnie to approve the financials from February 1 – February 28, 2021. Upon roll call
vote, all present voted aye. Motion carried 4-0.
4.APPROVAL OF BILLS.
Chad Nabity explained the payment to Hall County Treasure for $3,089.66. The Talon 2
project paid their taxes for 2021in December 2020. In January 10, 2021we received it and
receipted it and paid it out to Talon as the bondholder in February 2021. The assessor
lowered the assessed value of that project by an amount that reduced the taxes by
$3,089.66. The county treasure has a TIF balance of -$3,089.66 and needs the account to
have a balance of $0. Talon has paid back the amount and CRA will pay back to the Hall
County Treasure. A motion was made by Pirnie and second by Murray to approve the
bills for $125,396.89. Upon roll call vote, all present voted aye. Motion carried 4-0.
5.REVIEW OF COMMITTED PROJECTS & CRA PROPERTY.
The committed projects and CRA properties were reviewed by Nabity.
GI Veterans Home – has not submitted any bills.
Façade Projects –
South East Commons – work has started
Rise properties - work has started
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Life Safety Grants –
Hedde Building – still moving forward with the project.
Peaceful Root –Rawr Holdings – Still moving forward.
6.Request from 1868 Foundation for Other Grants Funding for help paying
for a Master Plan for the State Fair Grounds and Fonner Park Site.
Terry Galloway, chairman with the Nebraska State Fair 1868 Foundation stated
the role of the foundation is to raise money for their needs. They are in need of
some expansion and improvements. The Nebraska State Fair 1868 Foundation
will need in formulating a long-range Master Plan in conjunction with Fonner
Park. They have identified qualified prospective sources to assist with the long-
range plan effort and anticipate the cost to be roughly $135,000.
A motion was made by Gdowski and second by Pirnie to approve the request
from 1868 Foundation for up to $50,000 of other grants funding to help pay for a
Master Plan for the State Fair Grounds and Fonner Park Site. Upon roll call vote
all, voted aye. Motion carried 4-0
7.Director’s Report
Study Session with city council is scheduled for March 30, 2021 to discuss
LB866 Missing Middle Housing, LB1021 micro-TIF, and LB424 Land Bank.
A meeting with Marty Barnhart, former Director of the Omaha Land Bank is
scheduled for April 16, 2021 to discuss potential land bank in Grand Island. An
invitation will be sent out.
Adjournment at 4:40 P.M.
Next meeting 4:00 P.M. April 14, 2021
Respectfully Submitted,
Norma Hernandez
Administrative Assistant
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Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
Regular Meeting
Item C1
Financials March 2021
Staff Contact:
Grand Island Regular Meeting - 4/14/2021 Page 11 / 98
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
CONSOLIDATED
Beginning Cash 684,740 677,632
REVENUE:
Property Taxes - CRA 16,631 108,103 504,203 396,100 21.44%
Property Taxes - Lincoln Pool - 29,328 195,805 166,477 14.98%
Property Taxes -TIF's 70,641 1,035,654 4,858,000 3,985,429 21.32%
Loan Income (Poplar Street Water Line) - - 20,000 20,000 0.00%
Interest Income - CRA 249 1,781 10,000 8,219 17.81%
Interest Income - TIF'S - - - -
Land Sales - - - - #DIV/0!
Other Revenue - CRA - 1,669 200,000 198,331 0.83%
Other Revenue - TIF's - - - -
TOTAL REVENUE 87,520 1,176,534 5,788,008 4,774,557 20.33%
TOTAL RESOURCES 772,260 1,176,534 6,465,640 4,774,557
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 4,081 27,528 75,000 47,472 36.70%
Printing & Binding - - 1,000 1,000 0.00%
Other Professional Services - 10,567 16,000 5,433 66.04%
General Liability Insurance - - 250 250 0.00%
Postage - - 200 200 0.00%
Legal Notices 16 79 500 421 15.89%
Travel & Training - - 4,000 4,000 0.00%
Other Expenditures - - - -
Office Supplies - 184 1,000 816 18.40%
Supplies - - 300 300 0.00%
Land - - 30,000 30,000
Bond Principal - Lincoln Pool - 185,000 185,000 - 100.00%
Bond Interest - 6,328 10,805 4,478 58.56%
Fiscal Agent Fees/Bond Costs - 525 - -
Husker Harvest Days - 200,000 200,000 - 100.00%
Façade Improvement - - 200,000 200,000 0.00%
Building Improvement - 15,736 670,000 654,264 2.35%
Other Projects 3,000 200,000 197,000 1.50%
Bond Principal-TIF's 118,210 893,218 4,857,800 3,964,582 18.39%
Bond Interest-TIF's - - - -
Interest Expense - - - -
TOTAL EXPENSES 122,307 1,342,165 6,462,855 5,121,215 20.77%
INCREASE(DECREASE) IN CASH (34,787) (165,631) (674,847)
ENDING CASH 649,953 (165,631) 2,785 -
CRA CASH 497,715
Lincoln Pool Tax Income Balance 2,370
TIF CASH 149,868
Total Cash 649,953
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
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MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
GENERAL OPERATIONS:
Property Taxes - CRA 16,631 108,103 504,203 396,100 21.44%
Property Taxes - Lincoln Pool 29,328 195,805 166,477 14.98%
Interest Income 249 1,781 10,000 8,219 17.81%
Loan Income (Poplar Street Water Line) - 20,000 20,000 0.00%
Land Sales - - - #DIV/0!
Other Revenue & Motor Vehicle Tax 1,669 200,000 198,331 0.83%
TOTAL 16,879 140,880 930,008 789,128 15.15%
WALNUT HOUSING PROJECT
Property Taxes - -
Interest Income - -
Other Revenue - - -
TOTAL - - - -
GIRARD VET CLINIC
Property Taxes 5,555 -
TOTAL - 5,555 - -
GEDDES ST APTS-PROCON
Property Taxes 790 -
TOTAL - 790 - -
SOUTHEAST CROSSING
Property Taxes 6,037 -
TOTAL - 6,037 - -
POPLAR STREET WATER
Property Taxes 43 2,004 -
TOTAL 43 2,004 - -
CASEY'S @ FIVE POINTS
Property Taxes 342 -
TOTAL - 342 - -
SOUTH POINTE HOTEL PROJECT
Property Taxes 2,132 -
TOTAL - 2,132 - -
TODD ENCK PROJECT
Property Taxes - -
TOTAL - - - -
JOHN SCHULTE CONSTRUCTION
Property Taxes 180 -
TOTAL - 180 - -
PHARMACY PROPERTIES INC
Property Taxes 331 -
TOTAL - 331 - -
KEN-RAY LLC
Property Taxes - -
TOTAL - - - -
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MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
TOKEN PROPERTIES RUBY
Property Taxes 76 -
TOTAL - 76 - -
GORDMAN GRAND ISLAND
Property Taxes 37,741 -
TOTAL - 37,741 - -
BAKER DEVELOPMENT INC
Property Taxes 2,003 -
TOTAL - 2,003 - -
STRATFORD PLAZA INC
Property Taxes 823 -
TOTAL - 823 - -
COPPER CREEK 2013 HOUSES
Property Taxes 481 22,789 -
TOTAL 481 22,789 - -
FUTURE TIF'S
Property Taxes - 4,858,000 4,858,000
TOTAL - - 4,858,000 4,858,000
CHIEF INDUSTRIES AURORA COOP
Property Taxes 940 (940)
TOTAL - 940 - (940)
TOKEN PROPERTIES KIMBALL ST
Property Taxes 71 (71)
TOTAL - 71 - (71)
GI HABITAT OF HUMANITY
Property Taxes 140 (140)
TOTAL - 140 - (140)
AUTO ONE INC
Property Taxes 366 (366)
TOTAL - 366 - (366)
EIG GRAND ISLAND
Property Taxes 1,473 (1,473)
TOTAL - 1,473 - (1,473)
TOKEN PROPERTIES CARY ST
Property Taxes 199 (199)
TOTAL - 199 - (199)
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MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
WENN HOUSING PROJECT
Property Taxes 2,453 (2,453)
TOTAL - 2,453 - (2,453)
COPPER CREEK 2014 HOUSES
Property Taxes 945 66,429 (66,429)
TOTAL 945 66,429 - (66,429)
TC ENCK BUILDERS
Property Taxes 88 (88)
TOTAL - 88 - (88)
SUPER MARKET DEVELOPERS
Property Taxes 59,886 62,837 (62,837)
TOTAL 59,886 62,837 - (62,837)
MAINSTAY SUITES
Property Taxes 1,649 (1,649)
TOTAL - 1,649 - (1,649)
TOWER 217
Property Taxes 620 (620)
TOTAL - 620 - (620)
COPPER CREEK 2015 HOUSES
Property Taxes 3,886 50,293 - (50,293)
TOTAL 3,886 50,293 - (50,293)
NORTHWEST COMMONS
Property Taxes 200,345 - (200,345)
TOTAL - 200,345 - (200,345)
HABITAT - 8TH & SUPERIOR
Property Taxes 283 (283)
TOTAL - 283 - (283)
KAUFMAN BUILDING
Property Taxes 299 (299)
TOTAL - 299 - (299)
TALON APARTMENTS
Property Taxes 97,712 (97,712)
TOTAL - 97,712 - (97,712)
VICTORY PLACE
Property Taxes 223 (223)
TOTAL - 223 - (223)
THINK SMART
Property Taxes 6,586 (6,586)
TOTAL - 6,586 - (6,586)
Grand Island Regular Meeting - 4/14/2021 Page 15 / 98
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
BOSSELMAN HQ
Property Taxes 79,735 (79,735)
TOTAL - 79,735 - (79,735)
TALON APARTMENTS 2017
Property Taxes 110,204 (110,204)
TOTAL - 110,204 - (110,204)
WEINRICH DEVELOPMENT
Property Taxes 158 (158)
TOTAL - 158 - (158)
WING WILLIAMSONS
Property Taxes 65 (65)
TOTAL - 65 - (65)
HATCHERY HOLDINGS
Property Taxes 3,983 (3,983)
TOTAL - 3,983 - (3,983)
FEDERATION LABOR TEMPLE
Property Taxes 3,689 (3,689)
TOTAL - 3,689 - (3,689)
MIDDLETON PROPERTIES II
Property Taxes 355 (355)
TOTAL - 355 - (355)
COPPER CREEK 2016 HOUSES
Property Taxes 5,401 35,837 (35,837)
TOTAL 5,401 35,837 - (35,837)
MENDEZ ENTERPRISES LLC PHASE 1
Property Taxes 83 (83)
TOTAL - 83 - (83)
EAST PARK ON STUHR
Property Taxes 2,714 (2,714)
TOTAL - 2,714 - (2,714)
TAKE FLIGHT INVESTMENTS
Property Taxes 5,820 (5,820)
TOTAL - 5,820 - (5,820)
PRATARIA VENTURES HOSPITAL
Property Taxes 208,579 (208,579)
TOTAL - 208,579 - (208,579)
AMMUNITION PLANT
Property Taxes - -
TOTAL - - - -
URBAN ISLAND LLC
Property Taxes 87 (87)
TOTAL - 87 - (87)
Grand Island Regular Meeting - 4/14/2021 Page 16 / 98
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
PEACEFUL ROOT
Property Taxes 5,120 (5,120)
TOTAL - 5,120 - (5,120)
TALON 2019 LOOKBACK
Property Taxes 2,870 (2,870)
TOTAL - 2,870 - (2,870)
COPPER CREEK PH2 2019 LOOKBACK
Property Taxes 198 (198)
TOTAL - 198 - (198)
GRAND ISLAND HOTEL
Property Taxes 1,330 (1,330)
TOTAL - 1,330 - (1,330)
PARAMOUNT OLD SEARS
Property Taxes 32 (32)
TOTAL - 32 - (32)
CENTRAL NE TRUCK WASH
Property Taxes 986 (986)
TOTAL - 986 - (986)
TOTAL REVENUE 87,520 1,176,534 5,788,008 5,259,139 20.33%
- - -
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MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
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 4,081 27,528 75,000 47,472 36.70%
Printing & Binding - 1,000 1,000 0.00%
Other Professional Services 10,567 16,000 5,433 66.04%
General Liability Insurance - 250 250 0.00%
Postage - 200 200 0.00%
Legal Notices 16 79 500 421 15.89%
Travel & Training - 4,000 4,000 0.00%
Other Expenditures - - -
Office Supplies 184 1,000 816 18.40%
Supplies - 300 300 0.00%
Land - 30,000 30,000
Bond Principal - Lincoln Pool 185,000 185,000 - 100.00%
Bond Interest - Lincoln Pool 6,328 10,805 4,478 58.56%
Fiscal Agent Fees/Bond Costs 525 - - #DIV/0!
PROJECTS
Husker Harvest Days 200,000 200,000 - 100.00%
Façade Improvement - 200,000 200,000 0.00%
Building Improvement 18,736 670,000 651,264 0.00%
Other Projects - 200,000 200,000 0.00%
TOTAL CRA EXPENSES 4,097 448,947 1,605,055 1,156,633 27.97%
WALNUT HOUSING PROJECT
Bond Principal - - -
Bond Interest - - -
TOTAL - - - -
GIRARD VET CLINIC
Bond Principal 5,298 - -
TOTAL - 5,298 - -
GEDDES ST APTS - PROCON
Bond Principal - - -
TOTAL - - - -
SOUTHEAST CROSSINGS
Bond Principal 5,692 - -
TOTAL - 5,692 - -
POPLAR STREET WATER
Bond Principal 924 - -
TOTAL - 924 - -
CASEY'S @ FIVE POINTS
Bond Principal - - -
TOTAL - - - -
Grand Island Regular Meeting - 4/14/2021 Page 18 / 98
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
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 - -
TOTAL - 35,714 - -
BAKER DEVELOPMENT INC
Bond Principal 1,906 - -
TOTAL - 1,906 - -
STRATFORD PLAZA LLC
Bond Principal - - -
TOTAL - - - -
COPPER CREEK 2013 HOUSES
Bond Principal 15,499 - -
TOTAL - 15,499 - -
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 - 4/14/2021 Page 19 / 98
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
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 - -
TOTAL - 2,336 - -
COPPER CREEK 2014 HOUSES
Bond Principal 52,683 - -
TOTAL - 52,683 - -
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 36,125 - -
TOTAL - 36,125 -
NORTHWEST COMMONS
Bond Principal 195,189 - -
TOTAL - 195,189 -
HABITAT - 8TH & SUPERIOR
Bond Principal - - -
TOTAL - - -
KAUFMAN BUILDING
Bond Principal - - -
TOTAL - - -
Grand Island Regular Meeting - 4/14/2021 Page 20 / 98
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
TALON APARTMENTS
Bond Principal 95,270 - -
TOTAL - 95,270 -
VICTORY PLACE
Bond Principal 2,798 - -
TOTAL - 2,798 -
FUTURE TIF'S
Bond Principal - 4,857,800 4,857,800
TOTAL - - 4,857,800 4,857,800
THINK SMART
Bond Principal 6,427 - -
TOTAL - 6,427 -
BOSSELMAN HQ
Bond Principal 79,735 79,735 - -
TOTAL 79,735 79,735 -
TALON APARTMENTS 2017
Bond Principal 2,755 110,204 - -
TOTAL 2,755 110,204 -
WEINRICH DEVELOPMENT
Bond Principal - - -
TOTAL - - -
WING WILLIAMSONS
Bond Principal - - -
TOTAL - - -
HATCHERY HOLDINGS
Bond Principal - - -
TOTAL - - -
FEDERATION LABOR TEMPLE
Bond Principal 3,519 - -
TOTAL - 3,519 -
MIDDLETON PROPERTIES II
Bond Principal - - -
TOTAL - - -
COPPER CREEK 2016 HOUSES
Bond Principal 24,639 - -
TOTAL - 24,639 -
EAST PARK ON STUHR
Bond Principal - - -
TOTAL - - -
TAKE FLIGHT INVESTMENTS
Bond Principal 5,683 - -
TOTAL - 5,683 -
Grand Island Regular Meeting - 4/14/2021 Page 21 / 98
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
March-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF MARCH 2021
PRATARIA VENTURES HOSPITAL
Bond Principal 35,720 208,579 - -
TOTAL 35,720 208,579 -
AMMUNITION PLANT
Bond Principal - - -
TOTAL - - -
URBAN ISLAND LLC
Bond Principal - - -
TOTAL - - -
PEACEFUL ROOT
Bond Principal 5,000 - -
TOTAL - 5,000 -
TALON 2019 LOOKBACK
Bond Principal - - -
TOTAL - - -
COPPER CREEK PH2 2019 LOOKBACK
Bond Principal - - -
TOTAL - - -
GRAND ISLAND HOTEL
Bond Principal - - -
TOTAL - - -
PARAMOUNT OLD SEARS
Bond Principal - - -
TOTAL - - -
CENTRAL NE TRUCK WASH
Bond Principal - - -
TOTAL - - -
blank
Bond Principal - - -
TOTAL - - -
TOTAL EXPENSES 122,307 1,342,165 6,462,855 6,014,433 20.77%
Grand Island Regular Meeting - 4/14/2021 Page 22 / 98
04/09/2021 14:13 |CITY OF GRAND ISLAND |P 1
briansc |BALANCE SHEET FOR 2021 6 |glbalsht
NET CHANGE ACCOUNT
FUND: 900 COMMUNITY REDEVELOPMENT AUTHOR FOR PERIOD BALANCE__________________________________________________________________________________________________________
ASSETS
900 11110 OPERATING CASH -34,787.12 654,442.38
900 11120 COUNTY TREASURER CASH .00 333,937.88
900 11305 PROPERTY TAXES RECEIVABLE .00 196,300.28
900 11500 INTEREST RECEIVABLE .00 4,259.78
900 14100 NOTES RECEIVABLE .00 31,920.48
900 14700 LAND .00 490,485.75_______________________________________
TOTAL ASSETS -34,787.12 1,711,346.55_______________________________________
LIABILITIES
900 22400 OTHER LONG TERM DEBT .00 -570,000.00
900 22900 ACCRUED INTEREST PAYABLE .00 -3,691.04
900 25100 ACCOUNTS PAYABLE .00 -4,092.15
900 25101 ACTIVE CARD INTEGRATION PAYABL .00 510.00
900 25315 DEFERRED REVENUE-PROPERY TAX .00 -184,335.23_______________________________________
TOTAL LIABILITIES .00 -761,608.42_______________________________________
FUND BALANCE
900 39110 INVESTMENT IN FIXED ASSETS .00 -490,485.75
900 39112 FUND BALANCE-BONDS .00 879,914.52
900 39120 UNRESTRICTED FUND BALANCE .00 -1,504,797.40
900 39500 REVENUE CONTROL -87,520.11 -1,176,534.58
900 39600 EXPENDITURE CONTROL 122,307.23 1,342,165.08_______________________________________
TOTAL FUND BALANCE 34,787.12 -949,738.13_______________________________________
TOTAL LIABILITIES + FUND BALANCE 34,787.12 -1,711,346.55=======================================
** END OF REPORT - Generated by Brian Schultz **
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Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
Regular Meeting
Item D1
Bills April 2021
Staff Contact:
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14-Apr-21
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 for March 2021 $ 4,093.52
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Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
Regular Meeting
Item E1
Committed Projects March 2021
Staff Contact:
Grand Island Regular Meeting - 4/14/2021 Page 26 / 98
COMMITTED PROJECTS REMAINING
GRANT
AMOUNT
2021 FISCAL YR 2022 FISCAL YR 2023 FISCAL YR ESTIMATED
COMP
1868 Foundation $ 50,000.00 $ 50,000.00
GI Vets Home (Other Grants) $ 265,000.00 $ 265,000.00 Spring 2021
Southeast Commons 1201 S Locust
(12/9/20)
$ 100,000.00 $ 100,000.00 Summer 2021
Rise Properties 119 W 3rd (12/9/20) $ 59,477.00 $ 59,477.00 Summer 2021
Total Committed $ 474,477.00 $ 474,477.00 $ - $ -
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 2022
Peaceful Root 217 N Locust (9/18/19) $ 70,000.00 $ 70,000.00 Fall 2021
Rawr Holdings 110 W 2nd (12/12/18) $ 35,000.00 $ 35,000.00 Winter 2022
Total Committed F&L Safety Grant $ 415,000.00 $ 415,000.00 $ - $ -
BUDGET 2021 2021 LEFT
Façade Budgeted 2021 $ 200,000.00 $ 159,477.00 $ 40,523.00
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 $ 176,477.00 $ 253,523.00
Balance $ 176,477.00 $ 253,523.00
BUDGET PAID LEFT
Building Improvements * $ 670,000.00 $ 15,736.05 $ 654,263.95
*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
March 31, 2021
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Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
Regular Meeting
Item F1
Carnegie Library Building
Staff Contact:
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Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
Regular Meeting
Item H1
TIF Request -Bosselman Real Estate, LLC
Staff Contact:
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1 | P a g e
BACKGROUND INFORMATION RELATIVE TO
TAX INCREMENT FINANCING REQUEST
Project Redeveloper Information
Business Name:Bosselman Real Estate, LLC
1607 South Locust Street, Suite A
Grand Island, NE 68802-4905
Contact: Rich Ostdiek
richard.ostdiek@bosselman.com
Phone: (308) 218-2375
Fax: (308) 382-1160
Application Submission Date: March 26, 2021
Brief Description of Applicant’s Business:
Bosselman Real Estate, LLC is a Nebraska limited liability company affiliated with the
Bosselman Enterprises. Founded in 1948, Bosselman Enterprises has expanded its family of
companies to 45 Pump & Pantry convenience stores, 46 Boss Truck Shop service centers,
six hotel/motel locations, three proprietary restaurants and multiple franchised concepts, and
two Bosselman Travel Centers amongst other business ventures. Bosselman Enterprises is
headquartered in Grand Island, Nebraska, in a beautifully renovated campus on S. Locust St.
next to its very own Speakeasy-themed Bistro & Liquor Warehouse. This campus is the
beneficiary of the original TIF project approved in 2015.
Legal Description/Address of Proposed Project:
Current Bosselman Enterprises headquarters located at 1607 South Locust Street, Grand Island,
NE 68802
Community Redevelopment Area Number:
Grand Island Community Redevelopment Area 2
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2 | P a g e
Present Ownership Proposed Project Site:
Parcel #400130572
Bosselman Real Estate, LLC
1607 South Locust Street, Suite A
Grand Island, NE 68802-4905l
Is purchase of the site contingent on Tax Increment Financing Approval? Yes No XX
This site was purchased after approval of our application in 2015
Proposed Project:
The original project as approved in 2015 was described as follows:
(Original application and CRA Redevelopment Plan Amendment attached)
The redevelopment of the former Skagway building located at 1607
South Locust Street into to a vibrant corporate office setting with
bistro, retail liquor store, hotel and convention center, and commercial
professional office plaza. The property is comprised of 10.10 acres
with 73,313 square feet under roof. The existing building is brick
exterior with steel internal structure. Bosselman Real Estate, LLC will
execute a three-phase plan for the renovation of the existing building and
development of a new hotel and professional commercial office building.
PHASE ONE: Bosselman Real Estate, LLC proposes a
complete renovation of the existing Skagway building including
exterior windows, new facade, paint, roof, HVAC, interior
demolition, parking lot repair, site beautification construction to
convert the structure to a class A, state-of-the-art corporate office
facility totaling 42,000 square feet, plus warehouse space. Phase
One also includes a 4,000 square foot bistro/catering venture
and a 2,500 square foot retail liquor store. The current facade will
be completely removed and replaced with new branding to
include Bosselman signage, awnings, paint, lighting, windows,
and water feature. Exterior amenities will include secure parking
with site lighting, new asphalt overlay, and landscaping.
PHASE TWO: Bosselman Real Estate, LLC proposes a ground
up build of a branded hotel/convention center with an estimated
100 rooms.
PHASE THREE: Bosselman Real Estate, LLC proposes a professional
commercial office building, with (6) 1,500 square foot suites for lease.
Phase One of this project is complete. We are now entering Phase Two of this project but economic
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3 | P a g e
conditions have dictated that we amend our original plans. The recent approval of gambling in the
State of Nebraska has Fonner Park planning to open a casino, hotel and convention center only a
few hundred yards from our planned facility. For this reason, we are amending our original plan
from the construction of a branded hotel/convention center to the construction of a build-to-suit
Starbucks store.
Bosselman Real Estate, LLC proposes to construct and lease a 2,225 square foot, wood frame
constructed building with necessary improvement in and around the property to house a Starbucks
store. Starbucks would be a tenant in this building. This building would be located on
approximately 30,000 square foot of ground located in the northwest corner of the Bosselman
Enterprises parking lot located at 1607 South Locust Street in Grand Island, Nebraska.
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Prototypical Site Map
If Property is to be Subdivided, Show Division Planned:
This decision has not been made and will be determined based on economic costs and
benefits currently under review.
Estimated Project Costs: Revised Phase II Starbucks Store
Acquisition Costs:
A. Land $0
B. Building $0
Construction Costs:
A. Renovation or Building Costs $1,070,000
B On-Site Improvements
1 Sewer $15,000
2 Water $15,000
3 Electric $15,000
4 Gas $15,000
5 Public Streets/Sidewalks $5,000
6 Private Streets $0
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5 | P a g e
7 Trails $0
8 Grading/Dirt work/Fill $15,000
9 Demolition $15,000
10 Other $15,000
Soft Costs:
A. Architectural & Engineering Fees $35,000
B. Financing Fees $0
C. Legal/Developer/Audit Fees $50,000
D. Contingency Reserves $60,000
E. Other (Please Specify) $0
TOTAL: $1,325,000
Total Estimated Market Value at Completion: $521,273
Source for Estimated Market Value: Hall County Assessor - attached
Estimated Project Costs: Original Phase II Hotel/Convention Center
Acquisition Costs:
A. Land $0
B. Building $0
Construction Costs:
A. Renovation or Building Costs $9,000,000
B On-Site Improvements $250,000
Soft Costs:
A. Architectural & Engineering Fees $60,000
B. Financing Fees $15,000
C. Legal/Developer/Audit Fees $5,000
D. Contingency Reserves $200,000
E. Other (Please Specify) $0
TOTAL: $9,530,000
Total Estimated Market Value at Completion: $8,083,434
Source for Estimated Market Value: Hall County Assessor
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6 | P a g e
Source of Financing
A. Developer Equity: Owned Land
B. Commercial Bank Loan: $1,325,000
C. Tax Credits: $0
D. Industrial Revenue Bonds: $0
E. Tax Increment Assistance: Approved in 2015
F. Other $0
Name, Address, Phone & Fax Numbers of Architect, Engineer and General Contractor:
Architect: Joseph R Hewgley & Associates
702 S. Bailey
North Platte, NE 69101
(308) 534-4983
Engineer: TC Engineering
1 S. Sycamore Street
North Platte, NE 69101
(308) 534-9245
General Contractor: Bosselman Administrative Services, Inc.
1607 South Locust Street, Suite A
PO Box 4905
Grand Island Ne. 68802-4905
(308) 381-2800
Estimated Real Estate Taxes on Project Site Upon Completion of Project:
(Please Show Calculations)
Estimated
2020
Tax Estimated
Valuation Rate * Tax Calc
Estimated valuation after Phase II of Project
completed $521,273 2.1766 $11,346
2015 assessed base value on parcel - 2.1766 -
Estimated excess valuation on Phase II TIF Project $521,273 2.1766 $11,346
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7 | P a g e
Increase in annual real estate tax $11,346
Remaining TIF Life (years) 9
Potential TIF assistance at 0% lending rate $102,114
* Tax rate per $100 of valuation
Project (Phase II) Construction Schedule:
Construction Start Date: May 1, 2021 (planned)
Construction Completion Date: October 1, 2021
Please Attach Construction Pro Forma
See Estimated Project Cost listed above.
Please Attach Annual Income & Expense Pro Forma
(With appropriate Schedules)
TAX INCREMENT FINANCING REQUEST INFORMATION
Describe Amount and Purpose for Which Tax Increment Financing is Requested:
The original application from 2015 included the following purpose:
THE ACQUISITION OF PROPERTY AT 1607 SOUTH LOCUST STREET AND THE
SUBSEQUENT SITE WORK, RENOVATIONS, UTILITY IMPROVEMENTS,
ENGINEERING, LANDSCAPING AND PARKING IMPOVEMENTS NECESSARY
FOR REBUILDING CORPORATE OFFICE FOR BOSSELMAN COMPANIES ALONG
WITH A MOTEL AND SEPARATE PROFESSIONAL OFFICE SPACE AT THIS
LOCATION.
This application was approved in the amount of $6,552,000.
This application requests an amendment to the original plan that replaces the hotel/convention
center with a Starbucks store. The amount of new TIF funds that will be generated by this project is
$102,114.
Statement Identifying Financial Gap and Necessity for use of Tax Increment Financing for
Proposed Project:
The original application noted that the necessity for the use of Tax Increment Financing for this
Project was:
Due to the poor condition of the building and parking lot, financial analysis has determined
without TIF, the building acquisition costs, demolition, renovation, and new construction
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8 | P a g e
costs are too high to support a reasonable ROI on the project.
The CRA at the time approved this project and it has been an overwhelming success. Bosselman
Enterprises have moved its headquarters to this site and, by doing so, improved the visual
appearance of the entrance to the Fair Grounds. In addition, the opening of the Tommy Gunz
restaurant and related bar and liquor store resulted in additional employment and enhanced dining
and entertainment in Grand Island. And finally, this project was the catalyst for additional
economic development along the Locust Street corridor in South Grand Island.
Financially, the gap between this project with and without the additional TIF funding can be
measured two ways: the difference in the capitalization rate and the discounted cash flow internal
rate of return.
With TIF Without TIF
Capitalization Rate 7.5%6.8%
Discounted Cash Flow
IRR 8.8%6.7%
Municipal and Corporate References (if applicable). Please identify all other Municipalities, and
other Corporations the Applicant has been involved with, or has completed developments in, within
the last five (5) years, providing contact person, telephone and fax numbers for each:
2020 Jackson, NE Pump & Pantry
2020 Ardmore, OK Boss Truck Shop
2019 Ogallala, NE Pump & Pantry
2019 Sioux Falls, SD Boss Truck Shop
2019 Grand Island, NE Pump & Pantry
2018 Kenly, NC Boss Truck Shop
2018 Grand Island, NE Tommy Gunz Bistro and Liquor Store
2018 Garden City, KS Bosselman Travel Centers
2018 Garden City, KS Boss Truck Shop
2018 Elk Run Heights, IA Boss Truck Shop
2017 St Robert, MO Boss Truck Shop
2017 Grand Island, NE Bosselman Enterprises Headquarters
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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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
Redevelopment Plan Amendment
Grand Island CRA Area 2
July 2015 Amended April 2021
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 commercial project in Area 2.
Executive Summary:
Project Description
THE ACQUISITION OF PROPERTY AT 1607 SOUTH LOCUST STREET AND THE
SUBSEQUENT SITE WORK, RENOVATIONS, UTILITY IMPROVEMENTS,
ENGINEERING, LANDSCAPING AND PARKING IMPROVEMENTS NECESSARY
FOR REBUILDING CORPORATE OFFICE FOR BOSSELMAN COMPANIES
ALONG WITH A MOTEL QUICK SERVE RESTAURANT AND SEPARATE
PROFESSIONAL OFFICE SPACE AT THIS LOCATION.
The use of Tax Increment Financing (TIF) to aid in the acquisition of property,
rehabilitation of the existing building, necessary site work and installation of public
utilities and utility connections necessary to develop this site. The use of TIF makes it
feasible to complete the proposed project within the timeline presented. This project
developer has stated that the project will not be completed at this location without the use
of TIF.
The acquisition, rehabilitation, 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, 2017 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 east of Locust Street south of State Fair Boulevard and west of
Fonner Park in south central Grand Island, the attached map identifies the subject
property and the surrounding land uses:
Legal Description Lot 1 of Fonner Fourth Subdivision (It is anticipated
this property will be re-subdivided to accommodate phases 2 and 3 of this proposal.
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
The tax increment will be captured for the tax years the payments for which become
delinquent in years 2018 through 2031 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 new
commercial space on this property.
Statutory Pledge of Taxes.
Pursuant to Section 18-2147 of the Act, any ad valorem tax levied upon real property in
the Redevelopment Project Area shall be divided, for the period not to exceed 15 years
after the effective date of the provision, which effective date shall be January 1, 2017.
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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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
Redevelopment Plan Amendment Complies with the Act:
The Community Development Law requires that a Redevelopment Plan and Project
consider and comply with a number of requirements. This Plan Amendment meets the
statutory qualifications as set forth below.
1. The Redevelopment Project Area has been declared blighted and substandard by
action of the Grand Island City Council on September 13, 1999.[§18-2109] Such
declaration was made after a public hearing with full compliance with the public
notice requirements of §18-2115 of the Act.
2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13)
(a) and §18-2110]
Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan
amendment and project are consistent with the Comprehensive Plan, in that no changes in
the Comprehensive Plan elements are intended. This plan merely provides funding for
the developer to acquire the necessary property and provide the necessary site work for
the construction of a permitted use on this property.
3. The Redevelopment Plan must be sufficiently complete to address the following
items: [§18-2103(13) (b)]
a. Land Acquisition:
The Redevelopment Plan for Area 2 provides for real property acquisition and this plan
amendment does not prohibit such acquisition. There is no proposed acquisition by the
authority. The applicant will be acquiring the property from the current owner.
b. Demolition and Removal of Structures:
The project to be implemented with this plan will not require demolition of any existing
structures.
c. Future Land Use Plan
See the attached map from the 2004 Grand Island Comprehensive Plan. The site is
planned for commercial development within this arterial corridor allowing for maximum
exposure. Residential and hotel uses are also permitted in this area [§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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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
City of Grand Island Future Land Use Map
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
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
District. 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 remodel the existing retail building for a combination of
retail uses, office uses and residential dormitories. In addition, there are future phases that
anticipate the development of a 100 room motel quick serve restaurant at the northwest
corner of the site and additional in-line professional office space along the southern
property line. [§18-2103(b) and §18-2111]
f. Additional Public Facilities or Utilities
Sewer and water are available to support this development. Connections for water and
sewer will have to be extended to serve the proposed future development.
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]
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
4. The Act requires a Redevelopment Plan provide for relocation of individuals and
families displaced as a result of plan implementation. This amendment does not
provide for acquisition of any residences and therefore, no relocation is
contemplated. [§18-2103.02]
5. No member of the Authority, nor any employee thereof holds any interest in any
property in this Redevelopment Project Area. [§18-2106]
6. Section 18-2114 of the Act requires that the Authority consider:
a. Method and cost of acquisition and preparation for redevelopment and estimated
proceeds from disposal to redevelopers.
The developer is proposing to purchased this property for redevelopment for $1,700,000
provided that TIF is available for the project as defined. The cost of property acquisition
is being included as a TIF eligible expense. Costs for site preparation, utility extensions,
building plans, and renovation of the existing building $6,591,600 and are included as
TIF eligible expenses for phase 1. Phase 2 eligible expenses include sitework/utility
extensions, architecture and legal fees of $315,000. Phase 3 eligible expenses include
architecture and legal fees of $120,000. The total amount of the TIF eligible expenses in
this request is over $8,700,000 It is estimated based on the proposed increased valuation
for Phase 1 of the project of $11,617,706 will result in $3,836,200 of increment generated
over a 15 year period. Phase 2 would generate an increase in value of $8,083,000
521,273,with $2,491,229 102,114 generated over a 14 9 year period. Phase 3 would
generate an increase of $787,000 with $225,230 17,325 generated over a 13 year period
annually for the remainder of the term after construction. A maximum total of
$6,552,000 4,094,242 of TIF would be available to cover $8,726,600 worth of TIF
eligible expenses. It is anticipated that the developer will spend almost $2,175,000 more
on eligible expenses than will be generated by the tax increment.
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
has assisted the project by granting the sum of $6,552,000 for the project from the
proceeds of the TIF Indebtedness issued by the Authority. This indebtedness will be
repaid from the Tax Increment Revenues generated from the project. TIF revenues shall
be made available to repay the original debt after January 1, 2018 through December
2032.
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
c. Statement of feasible method of relocating displaced families.
No families will be displaced as a result of this plan.
7. Section 18-2113 of the Act requires:
Prior to recommending a redevelopment plan to the governing body for approval, an
authority shall consider whether the proposed land uses and building requirements in the
redevelopment project area are designed with the general purpose of accomplishing, in
conformance with the general plan, a coordinated, adjusted, and harmonious development
of the city and its environs which will, in accordance with present and future needs,
promote health, safety, morals, order, convenience, prosperity, and the general welfare, as
well as efficiency and economy in the process of development, including, among other
things, adequate provision for traffic, vehicular parking, the promotion of safety from
fire, panic, and other dangers, adequate provision for light and air, the promotion of the
healthful and convenient distribution of population, the provision of adequate
transportation, water, sewerage, and other public utilities, schools, parks, recreational and
community facilities, and other public requirements, the promotion of sound design and
arrangement, the wise and efficient expenditure of public funds, and the prevention of the
recurrence of insanitary or unsafe dwelling accommodations or conditions of blight.
The Authority has considered these elements in proposing this Plan Amendment. This
amendment, in and of itself will promote consistency with the Comprehensive Plan, in
that it will allow for the utilization of the existing building and development of additional
commercial facilities at this location. This lot is surrounded by similar commercial uses.
This will not increase traffic in the area. New commercial development will raise
property values and provide a stimulus to keep surrounding properties properly
maintained. This will have the intended result of preventing recurring elements of unsafe
buildings and blighting conditions.
8. Time Frame for Development
Development of Phase 1 of this project is anticipated to be completed between January of
2016 and December of 2016. Excess valuation should be available for this project for 15
years beginning with the 2017 tax year. It is anticipated that Phases 2 will be completed
before the end of 2021. Phase 3 will be completed within 5 years of the beginning of the
project when feasible depending on market conditions.
9. Justification of Project
The property is located at the entrance to the Fonner Park and the Nebraska State Fair
Grounds. These facilities are enjoyed and visited by hundreds of thousands of people
each year. This commercial property was vacated in May of 2015 and this is an excellent
chance to redevelop the property as the corporate headquarters for a Grand Island based
company that does business all over the United States. The proposed project will be
highly visible and complement the image of both the Community and the Bosselman
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
Companies. The potential addition of a hotel at this location increases the synergy
between Fonner Park and the Bosselman Conference center and South Locust. This will
provide hotel rooms within close walking distance to these facilities. Market conditions
and the likelihood that a casino and hotel complex will be completed on the Fonner
Grounds greatly reduce the commercial viability of a hotel at this site. This project does
not propose to tear down or substantially alter any buildings with historic value.
10. Cost Benefit Analysis Section 18-2113 of the Act, further requires the Authority
conduct a cost benefit analysis of the plan amendment in the event that Tax Increment
Financing will be used. This analysis must address specific statutory issues.
As authorized in the Nebraska Community Development Law, §18-2147, Neb. Rev. Stat.
(2012), the City of Grand Island has analyzed the costs and benefits of the proposed
Bosselman Skagway South Redevelopment Project, including:
Project Sources and Uses. Approximately $6,552,000 4,094,000 in public funds from
tax increment financing provided by the Grand Island Community Redevelopment
Authority will be required to complete the project. This project still has more than
$8,726,600 8,576,600 worth of TIF eligible expenses. The developer will be responsible
for funding the additional $2,174,600 4,482,600 as private investment. The total private
investment on this project is the total of the costs not eligible for TIF $11,215,000
3,175,000 plus the $2,174,600 4,482,600 of TIF eligible costs that will not be covered by
the Tax Increment for a total private investment of $13,389,600 7,657,600. This
$6,552,000 4,094,000 investment by the Authority and the people of Grand Island will
leverage $13,389,600 7,657,600 in private sector financing; a private investment of $2.04
1.87 for every TIF dollar investment.
Use of Funds.Phase 1
Description Eligible for TIF Funds Private Funds Total
Site Acquisition $1,700,000 $1,700,000
Utilities/On Site
Improvements
$500,000 $500,000
Legal Private $5,000 $5,000
Legal CRA Cost1 $35,000 $35,000
Fees1 $1,600 $1,600
Architecture $60,000 $60,000
Building
Rehabilitation Costs
$6,000,000 $6,000,000
Soft Costs $215,000 $215,000
Personal Property $750,000 $750,000
TOTALS $8,301,600 $965,000 $9,266,600
1 Not included on application but shown as an eligible expense to be paid by the developer.
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
Use of Funds.Phase 2
Description Eligible for TIF Funds Private Funds Total
Site Acquisition $0 $0
Utilities/On Site
Improvements
$0
$110,000
$0
$110,000
Legal Private $5,000 $$5,000
Fees $$
Architecture $60,000
$35,000
$$60,000
$35,000
Building Costs $9,000,000
$1,070,000
$9,000,000
$1,070,000
Soft Costs $205,000
$110,000
$205,000
$110,000
Personal Property $$
TOTALS $65,000
$145,000
$9,215,000
$1,180,000
$9,280,000
$1,325,000
Use of Funds.Phase 3
Description Eligible for TIF Funds Private Funds Total
Site Acquisition 0 0
Utilities/On Site
Improvements
$100,000 $100,000
Legal Private $5,000 $5,000
Fees $0 $0
Architecture $15,000 $15,000
Building Costs $1,000,000 $1,000,000
Soft Costs $30,000 $30,000
Personal Property $$
TOTALS $120,000 $1,030,000 $1,150,000
Tax Revenue. The property to be redeveloped has a January 1, 2015, valuation of
approximately $2,290,814. Based on the 2014 levy this would result in a real property tax of
approximately $50,292. It is anticipated that the assessed value will increase by almost
$20,500,000 12,926,014 upon full completion, as a result of the site redevelopment. This
development will result in an estimated tax increase of over $451,000 284,418 annually resulting
in $6,552,000 4,094,242 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.
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
Estimated 2014 assessed value: $ 2,290,814
Estimated 2020 assessed value $ 6,441,977
2020 TIF Base $ 2,652,701
2020 TIF Excess $ 3,789276
Estimated value after completion $ 22,778,988
$ 15,216,825
Increment value $ 20,488,175
$ 12,926,014
Annual TIF generated (estimated) $ 451,017
$ 284,418
TIF bond issue $ 6,552,000
Expected TIF Payout based on revised plan $ 4,094,242
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area currently has an estimated 2020 base valuation of
$2,290,814 2,652,701. The proposed redevelopment and commercial construction at this
location will result in an additional $20,488,175 12,926,014 of taxable valuation based on
valuations of similar properties. 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;
This project will not negatively impact employers or employees in the area directly.
Bosselman Companies will be able to continue employing people within the City of
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
No impacts are anticipated outside of the city or immediate area to total employment
from this project other than the incremental increase due to the construction.
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
(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 renovation of an existing commercial site.
(f) Any other impacts determined by the authority to be relevant to the
consideration of costs and benefits arising from the redevelopment project.
This project will utilize a piece of property in the Grand Island City Limits that is at the
entrance to the Fonner Park and the Nebraska State Fair grounds. This property has been
was the home of Skagway South for more than 20 years and the Bosselman Corporate
Offices since 2016. Skagway closed in 2015 this past May leaving the building mostly
vacant. This project will change this entrance in to the fairgrounds in a positive way,
rehabilitate and reutilize the existing building and provide hotel rooms within walking
distance of the fairgrounds.
Time Frame for Development
Development of this project is anticipated to be completed during between October 2015
and December of 2018, depending on the market demand for the buildings in phases 2
and 3. Phases 2 will be completed by the end of 2021 and Phase 3 is dependent on
market demand. The date of TIF will be established with the approved contract but it is
anticipated that he base tax year should be calculated on the value of the property as of
January 1, 2016. Excess valuation should be available for this project for 15 years
beginning with the 2017 tax year. Excess valuation will be used to pay the TIF
Indebtedness issued by the CRA per the contract between the CRA and the developer for
a period not to exceed 15 years or an amount not to exceed $6,552,000 the projected
amount of the eligible expenses for this project. Based on the purchase price of the
property and estimates of the expenses of renovation activities and associated engineering
fees, the developer will spend more than $8,700,000 on TIF eligible activities. As part of
the 2021 amendment it is anticipated that eligible activities will still exceed $8,700,000
and that the total TIF generated will be $4,094,000 not $6,552,000. The eligible activities
from Phase 1 of this project exceed the total TIF that will be generated by completion of
all three phases of the project.
See Attached Site Plan
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
Site Plan As Originally Proposed
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CRA Area 2 Redevelopment Plan Amendment 1607 S. Locust April 2021
Proposed Phase 2 Development with 2021 Amendent
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Bosselman Real Estate LLC 1607 S. Locust Amended Plan
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 348
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA, SUBMITTING A PROPOSED
REDEVELOPMENT CONTRACT 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
amendment (the "Plan") a copy of which is attached hereto as Exhibit 1, for
redevelopment of an area within the city limits of the City of Grand Island, Hall
County, Nebraska; and
WHEREAS, the Authority is required by Section 18-2112 of the Act to submit
said to the planning board having jurisdiction of the area proposed for redevelopment
for review and recommendation as to its conformity with the general plan for the
development of the City of Grand Island, Hall County, Nebraska;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The Authority submits to the Hall County Regional Planning Commission the
proposed Plan attached to this Resolution, for review and recommendation as to its
conformity with the general plan for the development of the City of Grand Island, Hall
County, Nebraska.
Passed and approved this 14th day of April, 2021
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By___________________________
Chairperson
ATTEST:
__________________________
Secretary
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Bosselman Real Estate 1607 S. Locust
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND,
NEBRASKA
RESOLUTION NO. 349
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA, PROVIDING NOTICE OF INTENT TO ENTER INTO A
REDEVELOPMENT CONTRACT 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 to amend an approved project
using Tax Increment Financing as allowed under the Nebraska Community Development
Law (the “Act”) on a project within Redevelopment Area, from Bosselman Real Estate
LLC., (The "Developer") for redevelopment of Lot One (1) Fonner Fourth Subdivision, 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") and the Grand Island City Council has approve to use Tax
Increment Financing on a similar project at this location within Redevelopment Area 2;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
Section 1. In compliance with section 18-2114 of the Act, the Authority hereby gives
the governing body of the City notice that it intends to amend the approved Redevelopment
Contract, 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 April, 2021.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA.
By ___________________________
Chairperson
ATTEST:
___________________
Secretary
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Bosselman Real Estate 1607 S. Locust
Exhibit 1
Legal Description:
Lot One Fonner Fouth Subdivision, in the City of Grand Island, Hall County, Nebraska.
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Community Redevelopment
Authority (CRA)
Wednesday, April 14, 2021
Regular Meeting
Item H2
TIF Requst - Miller Tire 722 N Eddy Street
Staff Contact:
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Ebc Obermiller LLC: 722 N Eddy Street P a g e | 1
Redevelopment Plan Amendment
Grand Island CRA Area 6
October 2020
The Community Redevelopment Authority (CRA) of the City of Grand Island
intends to amend the Redevelopment Plan for Area 6 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 6.
Executive Summary:
Project Description
THE ACQUISITION OF PROPERTY AT 722 N EDDY STREET AND THE
SUBSEQUENT SITE WORK, UTILITY IMPROVEMENTS, ENGINEERING,
LANDSCAPING, FAÇADE ENHANCMENTS, RECONSTRUCTION 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 8th Street and west of Eddy Street in south central Grand
Island, the attached map identifies the subject property and the surrounding land uses:
Legal Description:Lots One (1), Two (2) and Three (3) Block 14 H. G.
Clarks Addition, in the City of Grand Island, Hall County, Nebraska,
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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 October 9, 2007.[§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 May 5, 2021 and passed Resolution 2021-05 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 6 provides for real property acquisition and this plan
amendment does not prohibit such acquisition. There is no proposed acquisition by the
authority. The applicant will be acquiring the property from the current owner for
$245,000.
b. Demolition and Removal of Structures:
The project to be implemented with this plan will require complete demolition of any
existing structures.
c. Future Land Use Plan
See the attached map from the 2004 Grand Island Comprehensive Plan. The site is
planned for mixed use 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 General Business zone & R4 High Density Residential Zone. A
zoning change is necessary for Three (3) Block 14 H. G. Clarks Addition and in process.
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 demolish the current structure and construct a car repair
shop with nine service bays.
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 is proposing to purchase this property for $245,000. The cost of property
acquisition is being included as a TIF eligible expense. Total costs for construction is
estimated at $1,209,500 and is not TIF eligible. The cost of grading, dirt work and fill is
$20,000. An additional $40,000 of expenses for demolition, along with on-site
improvements of $11,000. Including a $5,700 of expenses for legal work, fees and
financial tracking of this project are also included as eligible expenses. The total
estimated eligible expenses are 321,700$. The request for TIF assistance is $318,825. It is
estimated based on the proposed increased valuation to $1,218,278 that available TIF
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Ebc Obermiller LLC: 722 N Eddy Street P a g e | 7
would be $333,307 over the 15 year period. This project should pay off prior to the end
of the 15 year bond period.
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 proceeds of the from the$318,285
will be repaid from the Tax TIF Indebtedness issued by the Authority. This indebtedness
TIF revenues shall be made available to Increment Revenues generated from the project.
. est according to the approved contractrepay the original debt and associated inter
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 reconstruction and enhanced utilization of 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 October 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 sewer and water available. The
developer owns other properties in the area and has almost 50 full time employees
working at those locations and is ready to expand in this area of the community.
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 s from tax increment in public fund$318,285
financing provided by the Grand Island Community Redevelopment Authority will be
Authority will leveragey thebrequired to complete the project. This investment
for 82.2nt of $; a private investmefinancing and investmentin private sector 896,915 $
It is estimated this will pay off in 15 years.every TIF dollar investment.
Use of Funds. Source of Funds
Description Eligible for TIF
Funds
Private Funds Total
Site Acquisition $245,000 $245,000
Grading/Dirtwork/Fill $20,000 $20,000
Demolition $40,000 $40,000
On-Site Improvements $11,000 $11,000
Soft Costs $10,000 $10,000
Legal CRA Cost $2,285 $3,415 $5,700
Building Construction
Costs
$883,500 $883,500
TOTALS $318,285 $896,915 $1,215,200
Tax Revenue. The property to be redeveloped is expected to have has a January 1, 2022,
valuation of approximately $1,218,278. Based on the 2021 levy this would result in a real
property tax of approximately $26,517. It is anticipated that the assessed value will increase by
$,1581,011 upon full completion, as a result of the site redevelopment. This development will
result in an estimated tax increase of over $22,220 annually resulting in approximately $333,307
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.
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Estimated 2021 assessed value: $ 207,120
Estimated value after completion $ 1,218,278
Increment value $ 1,011,158
Annual TIF generated (estimated) $ 22,220
TIF bond issue $ 318,285
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area has an estimated valuation of $207,120. The
proposed improvements at this location will result in at least an additional $1,011,158 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 skilled mechanics positions. The
developer already employs almost 50 people and most of those workers would work at
this facility.
(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 will demolish and reconstruct a facility for
commercial use at this 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.
The future land use of this area recommends mixed use commercial development in this
area of the community. Eddy Street is commercial corridor and in 2020 the city rezoned
the Eddy Street corridor between 9th Street and 17th to B2 General Business Zone. The
whole corridor from 4th Street to Five Points is zoned B2. North on Eddy at the Five
Points area, the city has developed a plan to construct a major round about to alleviate
traffic congestion allowing for a better flow of traffic through the area. Investment in this
property will continue to promote the Eddy Street corridor as a sustainable area for
commercial development as the city grows.
Time Frame for Development
Development of this project is anticipated to be completed October 2021. 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. The full
amount of TIF generated over a 15 year period would be $333,307 and the developer has
.to cover just over $321,000 of eligible expenses318,285requested $
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Ebc Obermiller LLC (Miller Tire) 722 N. Eddy
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 350
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA, SUBMITTING A PROPOSED
REDEVELOPMENT CONTRACT TO THE HALL COUNTY REGIONAL PLANNING
COMMISSION FOR ITS RECOMMENDATION
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), pursuant to the Nebraska Community
Development Law (the "Act"), prepared a proposed redevelopment plan (the
"Plan") a copy of which is attached hereto as Exhibit 1, for redevelopment of an
area within the city limits of the City of Grand Island, Hall County, Nebraska; and
WHEREAS, the Authority is required by Section 18-2112 of the Act to submit
said to the planning board having jurisdiction of the area proposed for redevelopment
for review and recommendation as to its conformity with the general plan for the
development of the City of Grand Island, Hall County, Nebraska;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The Authority submits to the Hall County Regional Planning Commission the
proposed Plan attached to this Resolution, for review and recommendation as to its
conformity with the general plan for the development of the City of Grand Island, Hall
County, Nebraska.
Passed and approved this 14th day of April, 2021
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By___________________________
Chairperson
ATTEST:
__________________________
Secretary
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Ebc Obermiller LLC (Miller Tire) 722 N. Eddy
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND,
NEBRASKA
RESOLUTION NO. 351
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA, PROVIDING NOTICE OF INTENT TO ENTER INTO A
REDEVELOPMENT CONTRACT 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, from Ebc Obermiller LLC., (The "Developer") for redevelopment of
Lots One (1), Two (2)and Three (3) Block Fourteen (14) of H.G. Clarks Addition, 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 6;
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,
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 April, 2020.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA.
By ___________________________
Chairperson
ATTEST:
___________________
Secretary
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Ebc Obermiller LLC (Miller Tire) 722 N. Eddy
Exhibit 1
Legal Description:
Lots One (1), Two (2)and Three (3) Block Fourteen (14) of H.G. Clarks Additions, in the City
of Grand Island, Hall County, Nebraska.
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