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09-08-2021 Community Redevelopment Authority Regular Meeting Packet Community Redevelopment Authority (CRA) Wednesday, September 8, 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 - 9/8/2021 Page 1 / 139 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 - 9/8/2021 Page 2 / 139 Community Redevelopment Authority (CRA) Wednesday, September 8, 2021 Regular Meeting Item A1 Agenda - September 8, 2021 Staff Contact: Grand Island Regular Meeting - 9/8/2021 Page 3 / 139 Grand Island Regular Meeting - 9/8/2021 Page 4 / 139 Grand Island Regular Meeting - 9/8/2021 Page 5 / 139 COMMUNITY REDEVELOPMENT AUTHORITY AGENDA MEMORANDUM 4 p.m. Wednesday, September 8, 2021 2. APPROVAL OF MINUTES. The minutes of the Community Redevelopment Authority meeting August 11, 2021 are submitted for approval. A MOTION is in order. 3. APPROVAL OF FINANCIAL REPORTS. Financial reports will be presented at the September 23rd meeting. 4. APPROVAL OF BILLS. Payment of bills will occur at the September 23rd meeting. 5. REVIEW OF COMMITTED PROJECTS AND CRA PROPERTIES. Will be presented at the September 23rd meeting. 6. REDEVELOPMENT PLAN AMENDMENT FOR CRA AREA #5 –PROCON FLEX INDUSTRIAL Concerning an amendment to the redevelopment plan for CRA Area No. 5 for lots 1-6 of Sunny side Third Subdivision located south of Capital Avenue and west of Sky Park Road. The request calls for redevelopment of this property for commercial purposes with Flex Industrial buildings. The plan requests $1,307,858 in tax increment financing along with associated interest on the TIF bonds. The CRA may forward the plan to the Grand Island City Council for approval. A MOTION to approve Resolution 361 (forward to City Council) is in order. 7. REDEVELOPMENT PLAN FOR CRA AREA #32 – 3MJR, LLC JAXSON SUBDIVISION Concerning a redevelopment plan for CRA Area No. 32 for property being developed as Jaxson Subdivision located west of North Road and south of Old Potash Highway. The request calls for redevelopment of this property for residential purposes with 192 apartments for persons 55 years and older in 48 buildings. The plan requests $7,460,038 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 362 (forward to Regional Planning Commission) and Resolution 363 (30-day intent notice to city council) is in order. 8. REDEVELOPMENT PLAN FOR CRA AREA #33 –INNATE DEVELOPMENT 2, LLC HUSKER HIGHWAY Concerning a general redevelopment plan for CRA Area No. 33 for 200 acres located north of Husker Highway and west of Prairieview Street and including site specific plan for the Husker Highway 2022 phase of the project on 27 acres. The request calls for redevelopment of this property for mixed use residential and Grand Island Regular Meeting - 9/8/2021 Page 6 / 139 commercial purposes. The plan requests $14,430,226 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 364 (forward to Regional Planning Commission) and Resolution 365 (30-day intent notice to city council) is in order. 9. DIRECTOR’S REPORT. 10. ADJOURNMENT Chad Nabity Director Grand Island Regular Meeting - 9/8/2021 Page 7 / 139 Community Redevelopment Authority (CRA) Wednesday, September 8, 2021 Regular Meeting Item B1 Meeting Minutes August 11, 2021 Staff Contact: Grand Island Regular Meeting - 9/8/2021 Page 8 / 139 OFFICIAL PROCEEDINGS MINUTES OF COMMUNITY REDEVELOPMENT AUTHORITY MEETING OF August 11, 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 August 11, 2021 at City Hall, 100 E. First Street. Notice of the meeting was given in the August 4, 2021 Grand Island Independent. 1. CALL TO ORDER. Chairman Gdowski called the meeting to order at 4:15 p.m. The following members were present: Tom Gdowski, Bart Qualsett, and Jim Truell. Also present were: Director Chad Nabity, Planning Administrative Assistant Norma Hernandez, Finance Director Patrick Brown, Assistant Finance Director Brian Schultz and Councilman Vaugh Minton. 2. APPROVAL OF MINUTES. A motion for approval of the Minutes for the July 14, 2021 was made by Qualsett and second by Truell. Upon roll call vote, all present voted aye. Motion carried 3-0 3. APPROVAL OF FINANCIAL REPORTS. Brian Schultz reviewed the financial reports. A motion was made by Truell and second by Qualsett to approve the financials from July 1– July 31 30, 2021. Upon roll call vote, all present voted aye. Motion carried 3-0. 4. APPROVAL OF BILLS. A motion was made by Truell and second by Qualsett to approve the bills for $24,479.55. 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. 1868 Foundation – Invoice will be paid next month. A consulting firm was selected from the top 3 proposals received. Carnegie Library- Has not started. Running behind. Hopefully will be done by winter. GI Veterans Home – Other grants - $45,000 – will propose to pay out in September. Façade Projects – South East Commons – is coming along expect to pay for the façade in September Life Safety Grants – Hedde Building – no update. Rawr Holdings – Still moving forward Azure Investments – Getting started. Will not be done by the end of the year. Grand Island Regular Meeting - 9/8/2021 Page 9 / 139 6. Redevelopment Plan Amendment for CRA Area #5-Procon Flex Industrial. a. Consideration of Resolution 359 – Forward a Redevelopment Plan Amendment to the Hall County Regional Planning Commission for Lots 1 through 6 of Sunny Side Third Subdivision – Procon Properties LLC b. Consideration of Resolution 360 – 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 Lots 1 through 6 of Sunny Side Third Subdivision – Procon Properties LLC Nabity stated PROCON properties are proposing redevelopment plan for CRA Area No. 5 for lots 1-6 located north of the Humane Society. The lots are zoned for manufacturing use. The request calls for redevelopment of this property for commercial use purposes with Flex Industrial buildings. The plan requests $1,307,858 in tax increment financing along with associated interest on the TIF bonds. A motion was made by Truell and second by Qualsett to approve resolution 359 and 360. Upon roll call vote, all present voted aye. Motion carried 3-0. 7. 2021-22 CRA Budget Nabity went over the 2021-22 CRA Budget. A motion was made by Qualsett and second by Truell to approve the 2021-22 CRA Budget asking for the same levy as the 2020-21 fiscal year and capturing the additional growth. Upon roll call vote, all present voted aye. Motion carried 3-0. 8. Director’s Report Adjournment Adjournment at 4:46 P.M. Next meeting 4:00 P.M September 8, 2021 Respectfully Submitted, Norma Hernandez Administrative Assistant Grand Island Regular Meeting - 9/8/2021 Page 10 / 139 Community Redevelopment Authority (CRA) Wednesday, September 8, 2021 Regular Meeting Item I1 Redevelopment Plan Amendment for CRA Area #5 - Procon Flex Industrial Staff Contact: Grand Island Regular Meeting - 9/8/2021 Page 11 / 139 Procon Properties LLC Area 5 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 361 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 Procon Properties LLC 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 Grand Island Regular Meeting - 9/8/2021 Page 12 / 139 Procon Properties LLC Area 5 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 $1,307,858 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 8th day of September 2021. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND NEBRASKA ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Grand Island Regular Meeting - 9/8/2021 Page 13 / 139 Procon Properties LLC Area 5 EXHIBIT A LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA Lots One (1) through Six (6) inclusive Sunny Side Third Subdivision, in the City of Grand Island, Hall County, Nebraska. Grand Island Regular Meeting - 9/8/2021 Page 14 / 139 Procon Properties LLC Area 5 * * * * * EXHIBIT B FORM OF REDEVELOPMENT PLAN Grand Island Regular Meeting - 9/8/2021 Page 15 / 139 Redevelopment Plan Amendment Grand Island CRA Area 5 July 2021 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 5 with in the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific infrastructure related project in Area 5. Executive Summary: Project Description THE REDEVELOPMENT PROPERTY LOCATED SOUTH OF CAPITAL AVENUE AND WEST OF SKYPARK ROAD FOR COMMERCIAL/INDUSTRIAL, INCLUDING ACQUISITION OF PROPERTY, SITE WORK, SANITARY SEWER, STORM SEWER AND STREETS AND DEMOLITION OF AN EXISTING STRUCTURE AND CONSTRUCTION 4 NEW MULTIUSE INDUSTRIAL STORAGE BUILDINGS (54,000 SQ FT) SUITABLE FOR SMALL COMMERCIAL OPERATIONS/WATERHOUSING AND COMMERCIAL/PERSONAL STORAGE. The use of Tax Increment Financing to aid in expenses associated with redevelopment of the property located at south of Capital Avenue and west of Skypark Road from its current state as vacant undeveloped underserved property to commercial/industrial property with multiple flex buildings capable of supporting commercial and industrial uses ranging from small commercial trade offices and workspace to commercial warehousing. The use of Tax Increment Financing is an integral part of the development plan and necessary to make this project affordable. The project will result in developing a vacant piece of property that has been subdivided and within the Grand Island city limits for more than 100 years. This property is not currently served by sanitary sewer. Sanitary sewer will be extended to serve the property. The property is zoned for heavy manufacturing. The proposed uses are consistent with the zoning, comprehensive plan and proximity to the airport. This project as proposed would not be possible without the use of TIF. Procon Properties LLC has acquired the property and adjusted the property lines to accommodate the proposed development. The property has remained vacant and undeveloped since it was platted as Sunny Side Subdivision 1887. The developer is responsible for and has provided evidence that they can secure adequate debt-financing to cover the costs associated with this project. The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated for up to 15 years for a period beginning January 1, 2023 towards the allowable costs and associated financing project. Grand Island Regular Meeting - 9/8/2021 Page 16 / 139 Existing Land Use and Subject Property Grand Island Regular Meeting - 9/8/2021 Page 17 / 139 TAX INCREMENT FINANCING TO PAY FOR THE REHABILITATION OF THE PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY: Property Description (the “Redevelopment Project Area”) Hall County Assessor Parcels 4000095793, 400095769, 400095726, 40095661, 40095645 and 400095145. Legal Descriptions: All of Lots 1-6 of Sunny Side Third Subdivision in the City of Grand Island, Hall County, Nebraska. The tax increment will be captured for the tax years for which the payments become delinquent in years 2023 through 2043 inclusive with no property extending beyond the 15 maximum. 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 development and construction of the industrial flex buildings over an anticipated period of five years. Statutory Pledge of Taxes. In accordance with Section 18-2147 of the Act and the terms of the Resolution providing for the issuance of the TIF Note, the Authority hereby provides that any ad valorem tax on the Redevelopment Project Area for the benefit of any public body be divided for a period of up to 15 years after the effective date of this provision as set forth in the Redevelopment Contract, consistent with this Redevelopment Plan. Said taxes shall be divided as follows: a. That portion of the ad valorem tax which is produced by levy at the rate fixed each year by or for each public body upon the redevelopment project valuation shall be paid into the funds, of each such public body in the same proportion as all other taxes collected by or for the bodies; and b. That portion of the ad valorem tax on real property in the redevelopment project in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the Authority to pay the principal of; the interest on, and any premiums due in connection with the bonds, loans, notes, or advances on money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise,such Authority for financing or refinancing, in whole or in part, a redevelopment project. When such bonds, loans, notes, advances of money, or indebtedness including interest and premium due have been paid, the Authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon real property in such redevelopment project shall be paid into the funds of the respective public bodies. Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged to the repayment of loans or advances of money, or the incurring of any indebtedness, whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in whole or in part, the redevelopment project, including the payment of the principal of, Grand Island Regular Meeting - 9/8/2021 Page 18 / 139 premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness. Redevelopment Plan Amendment Complies with the Act: The Community Development Law requires that a Redevelopment Plan and Project consider and comply with a number of requirements. This Plan Amendment meets the statutory qualifications as set forth below. 1. The Redevelopment Project Area has been declared blighted and substandard by action of the Grand Island City Council on January 11, 2005.[§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 substantially consistent with the Comprehensive Plan. Sunny Side Third Subdivision is zoned for Heavy Manufacturing and the Grand Island City Council has on a previous occasion denied a request to rezone this property for residential use due to its proximity to the Central Nebraska Regional Airport. The Hall County Regional Planning Commission held a public hearing at their meeting on September 1, 2021 and passed Resolution 2021-07 confirming that this project will be consistent with the Comprehensive Plan for the City of Grand Island as amended. 3. The Redevelopment Plan must be sufficiently complete to address the following items: [§18-2103(13) (b)] a. Land Acquisition: The Redevelopment Plan for Area 1 provides for real property acquisition and this plan amendment does not prohibit such acquisition. The developer has acquired the property. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: This property is vacant and no structures will be demolished or removed. Grand Island Regular Meeting - 9/8/2021 Page 19 / 139 City of Grand Island Future Land Use Map Grand Island Regular Meeting - 9/8/2021 Page 20 / 139 c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. The Central Nebraska Regional Airport is located to the north and east of this property. All of the properties to the north, east and south are planned for manufacturing development and Council has previously denied a request to change this property to a residential zoning district at the request of Airport management. This property is in private ownership. [§18-2103(b) and §18-2111] d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned M-2 Heavy Manufacturing zone. 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 property is zoned M2 Heavy Manufacturing. Up to 65% of the property can be covered with structures. The proposed plans are consistent with the expected site coverage and intensity of use. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities Sewer and water are available to support this development. Sewer will be extended through this property with this development. Water is available to the subdivision. and will be extended to all of the lots. Electric utilities are sufficient for the proposed use of this building. No other utilities would be impacted by the development. 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. The existing house on this property was vacant prior to consideration of this paln. No relocation is contemplated or necessary. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA have any interest in this property. Pinnacle Bank is considering financing of this project if it is approved and CRA Member Bart Qualsett, is President of the local branch of Pinnacle Bank. Grand Island Regular Meeting - 9/8/2021 Page 21 / 139 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 estimated costs for this project including acquisition are $4,555,456. Site acquisition was $135,000. Site improvements including: site work and grading, utility improvements, sidewalks and other flat concrete of $1,144,984 Architectural and Engineering planning services of $188,125 and are included as a TIF eligible expense. Legal, Developer and Audit Fees including a reimbursement to the City and the CRA of $8,150 are included as TIF eligible expense. The total of eligible expenses for this project is $1,476,259. 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 $1,307,858 from the proceeds of the TIF. Actual benefit of the TIF after applying an interest rate of 4.5% to the project will be $949,796. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2023 through December 2043. 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. Grand Island Regular Meeting - 9/8/2021 Page 22 / 139 The Authority has considered these elements in proposing this Plan Amendment. This amendment, in and of itself will promote consistency with the Comprehensive Plan. This will have the intended result of preventing recurring elements of unsafe buildings and blighting conditions. 8. Time Frame for Development Development of this project is anticipated to be completed between September 2021 and December of 2023. Excess valuation should be available for this project for up to 15 years on each phase of the development beginning with the 2023 tax year. 9. Justification of Project This property has been in the Grand Island municipal limits and largely undeveloped for more than 100 years. The proximity to the airport further restricts the development potential of this property. The proposed use for flex industrial buildings is consistent with the current zoning and provides a buffer between the airport and surrounding residential development. 10. Cost Benefit Analysis Section 18-2113 of the Act, further requires the Authority conduct a cost benefit analysis of the plan amendment in the event that Tax Increment Financing will be used. This analysis must address specific statutory issues. As authorized in the Nebraska Community Development Law, §18-2147, Neb. Rev. Stat. (2012), the City of Grand Island has analyzed the costs and benefits of the proposed Redevelopment Project, including: Grand Island Regular Meeting - 9/8/2021 Page 23 / 139 Project Sources and Uses. Public funds from tax increment financing in the amount of $1,307,858 provided by the Grand Island Community Redevelopment Authority will be required to complete the project. This investment by the Authority will leverage $3,247,598 in private sector financing and equity investment; a private investment of $2.48 for every TIF dollar invested. Use of Funds. Source of Funds Description TIF Funds Private Funds Total Site Acquisition $135,000 $135,000 Building Costs $2,274,367 $2,274,367 Sewer $238,027 $74,734 $312,761 Water $32,551 $32,551 Electric $225,535 $246,906 $472,441 Public Streets/Sidewalks $282,347 $490,847 $773,194 Site preparation/Dirt Work $198,123 $16,921 $215,044 Architecture/Engineering $188,125 $188,125 Financing Fees $ 80,000 $ 80,000 Legal/TIF Contract $ 6,000 $ 6,000 other (Landscaping) $63,823 $63,823 Govt. Fees and Expenses $2,150 $2,150 TOTALS $1,307,858 $3,247,598 $4,555,456 Tax Revenue. The property to be redeveloped has January 1, 2020, valuation of approximately $86,893. Based on the 2020 levy this would result in a real property tax of approximately $1,803. It is anticipated that the assessed value will increase by $4,202,957 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $87,191 annually. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for a period of 15 years, or such shorter time as may be required to amortize the TIF bond, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2021 assessed value: $ 1,803 Estimated taxable value after completion $ 4,289,940 Increment value $ 4,202,957 Annual TIF generated (estimated) $ 87,191 TIF bond issue $ 1,307858 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; Grand Island Regular Meeting - 9/8/2021 Page 24 / 139 The redevelopment project area currently has an estimated valuation of $87,191. The proposed redevelopment will create additional valuation of $4,202,957. No tax shifts are anticipated from the project. The project creates additional valuation that will support taxing entities long after the project is paid off. (b) Public infrastructure and community public service needs impacts and local tax impacts arising from the approval of the redevelopment project; No additional public service needs have been identified. Existing water and waste water facilities will not be impacted by this development. The electric utility has sufficient capacity to support the development. It is not anticipated that this will impact schools. The Grand Island Public School system was notified of this application prior to consideration of this plan by the Grand Island CRA, Regional Planning Commission or City Council. Fire and police protection are available and should not be negatively impacted by this development though any additional development and population may impact time of service. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; The initial construction of these units will provide jobs. It is possible that some smaller trade related firms would locate in one of these units. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project will not have a negative impact on other employers. (e) Impacts on student populations of school districts within the City or Village: This development will not have an impact on the Grand Island School system as there is no residential development intended with this proposal. (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This property was first subdivided in 1887 and there has been no development on it since that time. A review of the aerial photography of the City of Grand Island shows no development in 1937 the earliest photos and none on any photos since that time. Time Frame for Development Development of this project is anticipated to be completed during between October of 2021 and December of 2024. 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 Grand Island Regular Meeting - 9/8/2021 Page 25 / 139 15 years beginning in 2023 with taxes due in 2024. 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 on each phase or an amount not to exceed $1,307,858. The developer will spend $1,476,259 on eligible activities based on the estimates presented. Grand Island Regular Meeting - 9/8/2021 Page 26 / 139 Form Updated 7-25-2019cn Page | 1 BACKGROUND INFORMATION RELATIVE TO TAX INCREMENT FINANCING REQUEST Project Redeveloper Information Business Name: ______________________________________________________________ Address: _______________________________________________________________ Telephone No.: __________________________ Fax No.: _______________ Email: _________________________________________________________ Contact: _______________________________________________________________ Application Submission Date: Brief Description of Applicant’s Business:__ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________ Legal Description/Address of Proposed Project Community Redevelopment Area Number ________ Procon Properties, LLC 1522 Stagecoach Road, Grand Island, NE 68801 (308) 380-6559 (308) 381-6557 kchehnke@gmail.com K.C. Hehnke 06/30/2021 Procon Properties, LLC (the company) is organized as a Nebraska limited liability company. Subsequent to project completion (pending TIF approval), the company will operate and lease storage bays located at the project site (Sunny Side Third Subdivision). Upon completion of both phases of the proposed project, a total of 4 buildings housing 50 total bays will be available. Sunny Side Third Subdivision, lots 1-6, Hall County Nebraska (parcels 0400015145, 0400095645, 0400095661, 0400095726, 0400095769, & 0400095793) 5 Grand Island Regular Meeting - 9/8/2021 Page 27 / 139 Form Updated 7-25-2019cn Page | 2 Present Ownership Proposed Project Site: ________________________________________________________________ _____________________________________ Is purchase of the site contingent on Tax Increment Financing Approval? Yes No Proposed Project: Building square footage, size of property, description of buildings – materials, etc. Please attach site plan, if available. ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________ If Property is to be Subdivided, Show Division Planned: VI. Estimated Project Costs: Acquisition Costs: A. Land $ ______________ B. Building $ ______________ Construction Costs: A. Renovation or Building Costs: $ ______________ B. On-Site Improvements: Sewer $ ______________ Water $ ______________ Electric $ ______________ Gas $ ______________ Public Streets/Sidewalks $ ______________ /" Procon Properties, LLC ✔ Site preparation at Sunny Side Third Subdivision, including concrete work, infrastructure (sewer & electric), landscaping, fencing, etc. and the construction of 4 pre-engineered steel buildings intended to contain bays for storage. Phase 1 (located on lots 4 - 6) will consist of one 280' x 54' building housing 14 bays and one 240' x 54' building housing 12 bays and Phase 2 (located on lots 1 - 3) will consist of two 240' x 54' buildings housing 12 bays each for a total of 50 available bays (see site plan Exhibit A). 135,000 2,349,101 238,027 32,551 472,441 450,748 Grand Island Regular Meeting - 9/8/2021 Page 28 / 139 Form Updated 7-25-2019cn Page | 3 Private Streets $ ______________ Trails $ ______________ Grading/Dirtwork/Fill $ ______________ Demolition $ ______________ Other $ ______________ Total $ ______________ Soft Costs: A. Architectural & Engineering Fees: $ ______________ B. Financing Fees: $ ______________ C. Legal $ ______________ D. Developer Fees: $ ______________ E. Audit Fees $ ______________ F. Contingency Reserves: $ ______________ G. Other (Please Specify) $ ______________ TOTAL $ ______________ Total Estimated Market Value at Completion: $ Source for Estimated Market Value________________________________________ Source of Financing: A. Developer Equity: $ ______________ B. Commercial Bank Loan: $ ______________ C. Tax Credits: 1. N.I.F.A. $ ______________ 2. Historic Tax Credits $ ______________ 3. New Market Tax Credits $ ______________ 4. Opportunity Zone $ ______________ D. Industrial Revenue Bonds: $ ______________ E. Tax Increment Assistance: $ ______________ F. Enhanced Employment Area $ ______________ -BOETDBQJOH'FODJOH 55 5PUBM$PTUT 4FF/PUF /PUF5*'SFRVFTUFEBU[FSPQFSDFOUMFOEJOHSBUFJT "NPVOUSFGFSFODFEJO JUFN&BCPWFJTQSJODJQBMPOMZQPSUJPOBGUFSBQQMZJOHBMFOEJOHSBUFPOBZFBSUFSN OPUFXJUINPOUIMZQBZNFOUT JOUFSFTUDPNQPOFOUJT 41 322,446 215,044 63,823 4,144,181 188,125 80,000 8,150 276,275 4,555,456 Market value arrived at using the lessor of cost or estimated assessed value provided by Hall County Assessor divided by 92% 141,000 3,464,660 949,796 Grand Island Regular Meeting - 9/8/2021 Page 29 / 139 Form Updated 7-25-2019cn Page | 4 G. Nebraska Housing Trust Fund $ ______________ H. Other $ ______________ Name, Address, Phone & Fax Numbers of Architect, Engineer and General Contractor: _______________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Estimated Real Estate Taxes on Project Site Upon Completion of Project: (Please Show Calculations) ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Project Construction Schedule: Construction Start Date: _________________________________________________ Construction Completion Date: ___________________________________________ If Phased Project: _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete Architect: AGI Sentinel237 South 4th Street, P.O. Box 348Albion NE 68620 (402) 395-5076 Engineer: Olsson Associates 201 East 2nd Street Grand Island, NE 68801 (308) 384-8750 General Contractor: Mid Plains Construction Co1319 West North Front StreetGrand Island, NE 68801(308) 382-2760 $88,993 (see Exhibit B for detailed calculation) September 1, 2021 August 31, 2023 Phase #1 -- 9/1/2021 to 8/31/2022 50.0% Phase #2 -- 9/1/20200 to 8/31/2023 50.0% Grand Island Regular Meeting - 9/8/2021 Page 30 / 139 Form Updated 7-25-2019cn Page | 5 XII. Please Attach Construction Pro Forma XIII. Please Attach Annual Income & Expense Pro Forma (With Appropriate Schedules) TAX INCREMENT FINANCING REQUEST INFORMATION Describe Amount and Purpose for Which Tax Increment Financing is Requested: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ______________________________________________________________ Statement Identifying Financial Gap and Necessity for use of Tax Increment Financing for Proposed Project: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ 4FF&YIJCJU$ 4FF&YIJCJU% $1,307,858 of tax increment financing (based on a 0% lending rate) is being requested to assist in the construction of four pre-engineered steel buildings to be located in the Sunny Side Third Subdivision of Hall County which are intended to create a total of 50 storage bays upon completion. The two-phase project involves the construction of the buildings, as well as concrete work for the foundation and all necessary access roads, as well as appropriate sewer and electrical hookups to the city water and electrical facilities. The TIF funds will enable the project to be undertaken, resulting in vast improvements to the current location in the airport "corridor" and the creation of a facility that will help to satisfy an underutilized occupancy demand in Grand Island. Tax increment financing is an integral and essential component to project completion, which is contingent upon receipt of the expected tax increment assistance. Feasibility is dependent on TIF funds that will enable the the creation of adequate economics in operating the new facility at a competitive rate in the specified area (See Exhibit E for a capitalization rate analysis for the first phase of the project which is expected to be consistent with the second phase) Grand Island Regular Meeting - 9/8/2021 Page 31 / 139 Form Updated 7-25-2019cn Page | 6 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: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________ Post Office Box 1968 Grand Island, Nebraska 68802-1968 Phone: 308 385-5240 Fax: 308 385-5423 Email: cnabity@grand-island.com CMBA Architects Brad Kissler Phone: 308-384-4444 Olsson & Associates Jeff Palic Phone: 308-398-2953 Fax: 308-384-8752 Home Federal Bank Steve Kunzman Phone: 308-382-4000 Engineering & Technologies, Inc. Phone: 402-476-1273 Grand Island Regular Meeting - 9/8/2021 Page 32 / 139 I I I I PROPERTY EXHIBIT -SUNNY SIDE TIDRD SUBDIVISION- A REPLAT OF LOTS 1-17, 44-60, SUNNY SIDE SUBDMSION AND LOT 55, FRANK P. BARK'S SUBDIVISION No. 3, IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA LEGAL DESCRimON AS RECORDED ON INSTRUMENT NO. 202003333 Lot fifty-Fi..: (SS). iD FllUlk P. Bam' SubcliWicaNo. 3,iD lbcCityofGrandlslm!,Hallc-ity, Ncbnmadllw pa! ofncaled l:4wmd StlUI u lbown iD Onlm-c No. 4804, filal DcccmbQ' 19, 1969, m Book 19, Page 362 ad 11111 pa1 of wc:aicd lllcy u sbawn ID OrdimDce No. 4824, filed Fcbnwy 16, 1970, iD Boot 20, Page 204; m:cpliDa a catain 1n1ct mon: pa:ticululy daaillcd m Qui!.cbim Deed n:cocdcd m Book 161, Page 30. llXI LotsOee(l). ho(2}, Tbnoo(3).fcGr(4),Fivc(S).Siz(6).Scvao(7).l!igbt(8).N"mc(9). Tcn(IO),Elcvczi(ll). 'hdwe (12), Thincco (13). fQDUal(l4), Flftccn (IS).~ (16). Sew=cn (17), fcxty-Fmr(44), Fcrty-Fm: (4S). fcirty.Slx (46). Foriy.Scwm (47), faty·l!igbt (48), Fcrty-N"mc (49). Fifty (SO), Fifty-cae (SI), Fdly-ho (52), fifty-11nc (S3). Fdly-Fcur (54). Fill)o-Fi..: (SS). f"afty.Si:& (56), Fifty-Scvao (S1), Fdly-Eigbl (51). Fafty-N'mc (59). a S1x1y C60>. m SmmJ Side SabdiYisica m lbc Chy or0nm Wml. Han eamiy, Ndasb: ad 11111 pa!of--.t Edwmd SIJa:c u sbowD iD OtdiDmcc No. 4804, fi1al Da:cmba' 19, 1969, iD Boot 19, Page 362,-S dm pat of ¥Kalal lllcy u abaWD iD OrdinaDtc No. 4824, l!1cd fcbmry 16, 1970, iD Boot 20, Page 204; accpliaa. cataiD a.a""'"' pclicUl.aty dcaaibcd ID C)iildaim Deed rocaded iD Book 161, hgc 30. SURVEYOR'S CERTIFICATE I, DybD J. Campbdl. NdxuD Profcalocal Rqb1aa! Liile! SUIW)U No. 118, do bcn:by mlify llwoa Mq 20, 20l0, l ccmplclcd 1111 accmale SUIYC)' of"SUNNY SIDB THIRD SllllDMSlON", a rq>lal of Loa 1-17, 44-60, 5111111)' Side Sabdlvlsico ad Loi SS, Frmk P. Ba:k'I SabdMsloa No. J, iD 1llo City ofG:md lslm!, Hall Cocmly, Ndnsb, u &hotl'D OQ lbc accompmyiDg plal tllcrcof; !Im Iha loll, blocb, llrcca, awma, llleyl, pmb,- llXI oCbcr givmxls u combed iD aid ASbdiYisloa u lllxlwll OQ 1llo accompaylDa plal dxrcof-MU and ICCUl&lcly llllcal oll'llXI amtcd; dm imll martas were pbccd at all lot-.; 11111 lbedlmcmiom of acb lol inas lllo"'1I OQ Ille plal; 11111 acb lot bean ill OWZI rmmfla; llXI llw aid smv&y-made wjlh refam:c Co lmcJwn llXI ~ - (SEAL) LOCATION MAP s1~n111-R1W ~ 1111'110 5CAI[ I I Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 33 / 139 237 South 4th Street I P.O. Box 348 I Albion, Nebraska 68620 TF 800.327.0790 I p 402.395.5076 I F 402.395.6369 www.sentinelbuildings.com AGI !!!I SENTINEL BUILDING ORDER/ QUOTE JOHN GIESENHAGEN ADDRl: ADDR2: CITY,ST,ZIP GRAND ISLAND, NE 68803 PHONE#: 308-382-2760 FAX #: WIND LOAD: BUILDING CODE: EXPOSURE: COLLATERAL: LIVE LOAD: LIVE LOAD REDUCTION: ROOF SNOW LOAD: GROUND SNOW: CLOSURE: 113 mph IBC 18 c 1 30 Yes 30 {Min Local) 25 Closed OCCUPANCY CATEGORY II -Normal SEISMIC ZONE/DESIGN CATEGORY: A SEISMIC COEF.: FRONT SIDEWALL: BACK SIDEWALL: ROOF: 0.138 Portal Frames Portal Frames Cable Diagonal Bracing GRAND ISLAND, NE 68803 68803 JOBSITE PHONE: CITY RURAL none (12) 10 W x 14 H none NOTES: (1) 20' LONG SPRING PAD PER FRAMED OPENING SUPPLIED LEFT ENDWALL: RIGHT ENDWALL: Cable Diagonal Bracing Cable Diagonal Bracing PANEL TYPES, GAUGES AND COLORS ROOF PANEL TYPE: SIDEWALL PANEL TYPE: ENDWALL PANEL TYPE : U.L. RATING STYLE=-- GABLE: JAMB: To Be Determined CORNER: To Be Determined BASE: To Be Determined 1/22/2021 10:37 AM R-Panel R-Panel R-Panel Sil-Poly Sil-Poly 1 of 5 GAUGE: GAUGE: GAUGE: 26 26 26 GAUGE: COLOR: Galvalume (CSS) COLOR: To Be Determined COLOR: To Be Determined Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 34 / 139 Exhibit AGrand IslandRegular Meeting - 9/8/2021Page 35 / 139 Exhibit AGrand IslandRegular Meeting - 9/8/2021Page 36 / 139 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 37 / 139 Rf"l-1 iTi !.!.! 0 RF1-1 iTi !.!.! 0 RF1-1 RF1-1 m m 0 0 RF1-1 m 0 ANCHOR SOLT PLAN NOTE: All Base Plates 0 100' -o· (U.N.) SEll1 237 SOun< •TH STRW P.O. llOO•l27•D790 SENTlN ................................... ---.-·-"'"° ~ ___ .... ........... ,..... .... -,,....... .. -.. ..... __ ., ... _ .._ .. -........ ........ Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 38 / 139 FRAME LINES: 3 4 5 6 7 8 9 10 11 12 H -,v RIGID FRAME: MAXIMUM REACTIONS, ANCHOR BOLTS, & BASE PLATES Frm ---Column_Reoctions(I< ) ---Solt(in~ Bose_Plole(inf Col Lood Hmox V Lood Hmin V Grout Line Line Id H Vmox Id H Vmin Qty io Width Length hick (in) ---------------------------- 2• A 13.6 22.5 3 -5.5 -6.6 4 0.750 8.000 12.56 0.375 0.0 5 -2.1 -6.9 2• D 4 3.9 -4.0 1 -13.6 22.9 4 0.750 8.000 18.56 0.375 0.0 1 -13.6 22.9 5 2.3 -7.2 2• Freme lines: 23456789 10 11 12 GENERAL NOTES 1. Foundation design and construction ore not the responsibility of SENTINEL Buildings Systems. 2. The building reaction doto reports the loads which this building places on the foundation. 3. Anchor bolts shell be occurotely set to a tolerance of +/-1/8" in both elevation 4. Column bose plates are designed not to exceed a bearing pressure of 5. All well< doors are to be field located with drilled in wedge 6. Total anchor bolt length is embedment + projection. 7. All anchor bolts to be ASTM Fl 554 Gr36 threaded round plain finish, unless noted. 8. When anchor rods ore located close to the free e g of t strength of the anchor rods cannot be fully develope In the concrete must be sized end developed (not by Se i forces in the onchor rods. 9. For buildings classified os close I ed/Open = C), Sen el Building Systems does not ~i~~~~gsot~,}h~p~n~~u~~;e e~~ ust s~~ mw~~~ ~~~~re0~h~~e d ring1 t~;::~~n~f s~i~~mwi~~i:' o~~~:er~~~d doors, sliding doors, lor e d rs ch as bi-fold & hydraulic). wall< doors and windows will be closed & latched. BUILDI -Woll - Loe Line L_EW , 3.8 0.0 0.0 F_SW D 1.8 0.1 0.2 fg~ 1.8 0.1 0.2 R_EW 13 3.8 o.o 0.0 B_sw A 1.5 0.1 0.2 fg~ 1.5 0.1 0.2 (b)Wind bent in boy, base above finish floor ENDWALL COLUMN: MAXIMUM REACTIONS, ANCHOR BOLTS, Frm ---Column_Reoctions~ ) ---Bolt( Col Load Hmox V Load min V Line Line Id H Vmox Id H Vmin Qty -------------- A 6 0.9 -0.9 7 -0.8 -0.9 2 0.0 2.4 6 0.9 -0.9 B 8 1.9 -3.2 9 -1.7 -3.2 2 2 o.o 8.1 8 1.9 -3.2 c 8 2.0 -4.3 9 -1.8 -4.3 2 2 0.0 6.3 8 2.0 -4.3 D 10 1.0 -2.9 ,, -0.9 -2.9 2 , 0.0 3.1 10 1.0 -2.9 13 D 8 1.0 -2.9 9 -0.9 -2.9 2 I 0.0 3.1 8 1.0 -2.9 13 c 10 2.0 -4.3 11 -1.8 -4.3 2 0.0 6.3 10 2.0 -4.3 13 8 10 1.9 -3.2 11 -3 2 0.0 8.1 10 13 A 6 0.9 -0.9 2 0.0 2.4 NOTES FOR plane of e brace with the H p 5. Loading conditions ore: 1 Dead+Colloterol+Live 2 Deod+Colloterol+MIN_SNOW 3 0.60eod+0.6Wind_Lefl1 4 0.60eod+0.6Wind_Right 1 rticol reaction is downward. the following building data: 54.0 = 240.0 : o.~6.5/ 19.o 2.5 1.0 30.0 21.0 113.0 = IBC 18 = c =C = 1.00 = 1.00 =A 5 0.60eod+0.6Wind_Long1L 6 0 .60eod + O. 6Wind_Suction + 0.6Wind_Long 1 L 7 0.60eod+0.6Wind_Pressure+0.6Wind_Long 1 L 8 0.60eod+0.6Wind_Left 1 +0.6Wind_Suction 9 0.60eod+0.6Wind_Lefl 1 +0.6Wind_Pressure 10 0.60eod+0.6Wind_Righl 1 +0.6Wind_Suction 11 0.60eod+0.6Wind_Right 1 +0.6Wind_Pressure 237 SDUlH 4TH STAEET P.C eoo-327-0790 SENTI Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 39 / 139 "VFLANGE 8 FBxxA( 1 )RACES: Both s· A -L2x:1 /~::::::length(in)1des(U.N.) A9/1s· 12 -i f.3/4" 26 Go. SR, Golvolume (css) 29'-7" RIGID FRAME ELEVATION: FRAME LINE 2 25'-3" 3 4 5 6 7 8 9 10 11 12 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 40 / 139 237 South 4•h Street I P.O. Box 348 I Albion, Nebraska 68620 TF 800.327.0790 I p 402.395.5076 I F 402.395.6369 www.sentinelbuildings.com AGI !!II SENTINEL BUILDING ORDER/ QUOTE CONTACT: JOHN GIESENHAGEN ADDRl: ADDR2: CITY,ST,ZIP GRAND ISLAND, NE 68803 PHONE#: 308-382-2760 FAX#: WIND LOAD: 113 mph BUILDING CODE: IBC 18 EXPOSURE: c COLLATERAL: 1 LIVE LOAD: 30 LIVE LOAD REDUCTION: Yes ROOF SNOW LOAD: 30 (Min Local) GROUND SNOW: 25 CLOSURE: Closed OCCUPANCY CATEGORY II -Normal SEISMIC ZONE/DESIGN CATEGORY: A SEISMIC COEF.: 0.138 FRONT SIDEWALL: BACK SIDEWALL: ROOF: Portal Frames Portal Frames Cable Diagonal Bracing GRAND ISLAND, NE 68803 68803 JOBSITE PHONE: CITY RURAL none {14) 10 W x 14 H none NOTES: (1) 20' LONG SPRING PAD PER FRAMED OPENING SUPPLIED LEFT ENDWALL: RIGHT ENDWALL: Cable Diagonal Bracing Cable Diagonal Bracing PANEL TYPES, GAUGES AND COLORS ROOF PANEL TYPE: R-Panel GAUGE: 26 COLOR: Galvalume (CSS) SIDEWALL PANEL TYPE: R-Panel Sil-Poly GAUGE: 26 COLOR: To Be Determined ENDWALL PANEL TYPE: R-Panel Sil-Poly GAUGE: 26 COLOR: To Be Determined U.L. RATING STYLE=-- GABLE: To Be Determined JAMB: To Be Determined CORNER: To Be Determined BASE: To Be Determined GAUGE: 1/22/2021 10:40 AM 1 of 5 1/22/2021 10:40 AM Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 41 / 139 Exhibit AGrand IslandRegular Meeting - 9/8/2021Page 42 / 139 Exhibit AGrand IslandRegular Meeting - 9/8/2021Page 43 / 139 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 44 / 139 RF1-1 RF1-1 m m D D RF1-1 iTi !l! 0 RF1-1 iTi !l! D RFl-1 iTi !l! D RF1-1 m 0 ANCHOR BOLT PLAN NOTE: All Bose Plates 0 100' -0" (U.N.) 2J7 saun< •TH STll£ET P.O. IOO-lU-0710 SEllllN .......... ~ ............. ._,. --.-·-.. '° ~ ... ~ .. -... ..................... ................. ..,..............._._ ... c.........a --.. --..- Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 45 / 139 FRAME LINES: 3 4 5 6 7 8 9 10 11 12 13 14 RIGID FRAME: MAXIMUM REACTIONS, ANCHOR BOLTS, & BASE PLATES Frm Col ---Column_Reoctions~ ) ---Load Hmox V Leed min V Grout Line Line Id H Vmox Id H Vmin Bolt(ini Qty io Bose_Plote(in t Width Length hick (in) ---------------------------- 2• A 13.6 22.5 3 -5.5 -6.6 4 0.750 8.000 12.56 0.375 o.o 5 -2.1 -6.9 2• D 4 3.9 -4.0 1 -13.6 22.9 4 0.750 8.000 18.56 0.375 0.0 1 -13.6 22.9 5 2.3 -6.8 2• Frame lines: 2 3 4 5 6 7 8 9 10 11 12 13 14 GENERAL NOTES 1. Foundation design and construction ore not the responsibility of SENTINEL Buildings Systems. 2. The building reaction doto reports the loads which this building places on the foundation. 3. Anchor bolts shall be accurately set to o tolerance of + /-1 /8" in both elevation 4. Column base plates ore designed not to exceed a bearing pressure of 5. All walk doors ore to be field located with drilled in wedge 6. Total anchor bolt length is embedment + projection. 7. All anchor bolts to be ASTM Fl 554 Gr36 threaded round ploin finish, unless noted. 8. When anchor rods ore located close to the free e of t e cone le, the nsile and/or shear strength of the anchor rods cannot be fully develope In hese c s, ste reinforcement in the concrete must be sized ond developed (not by Se i for the · d tensile or shear forces in the anchor rods. 9. For buildings classified as close I ed/Open = C), Sen Systems does not investigate the influence of sig wind load on the I building system with doors and windows left open. The end ust er must assure that d ring times of high winds all overhead doors, sliding doors, tor e d rs ch as bi-fold c!c hydraulic), walk doors and windows will be closed c!c latched. BUILDI -Wall -PoCl~l~~eor Loe Line Wind Seis Note LEW 1 3.8 0.0 o.o F_SW D 1.2 0.1 0.1 f g~ 1.2 0.1 0.1 1.2 0.1 0.1 R_EW 15 3.8 0.0 o.o e_sw A 1.5 0.1 0.2 ~g~ 1.5 0.1 0.2 ENDWALL COLUMN: t.AAXIMUM REACTIONS, ANCHOR BOLTS, F'rm Col ---Column_Reactions(k ) ---Bolt( Load Hmoic V Load Hmin V Line Line Id H Vmox Id H Vmin Qty -------------- A 6 0.9 -0.9 7 -0.8 -0.9 2 2 0.0 2.4 6 0.9 -0.9 B 8 1.9 -3.2 9 -1.7 -3.2 2 2 0.0 8.1 8 1.9 -3.2 c 8 2.0 -4.3 9 -1.8 -4.3 2 0.0 6.3 8 2.0 -4.3 D 10 1.0 -2.9 11 -0.9 -2.9 1 0.0 3.1 10 1.0 -2.9 15 D 8 1.0 -2.9 9 -0.9 -2.9 2 , 0.0 3.1 8 1.0 -2.9 15 c 10 2.0 -4.J 11 -1.8 -4.3 2 0.0 6.3 10 2.0 -4.3 15 B 10 1.9 -J.2 -3 2 0.0 8.1 15 A 6 0.9 -0.9 2 0.0 2.4 NOTES FOR plane of e brace with the H p 5. Loading conditions ore: 1 Deod+Colloterol+Live 2 Oeod+Colloterol+MIN_SNOW 3 0.60eod+0.6Wind_Left1 4 0.60eod+0.6Wind_Right 1 rtical reaction is downward. the following building data: 54.0 .. 280.0 = 16.S/ 19.0 .. 0.6 2.5 1.0 = JO.O .. 21.0 .. 113.0 = IBC 18 "'c .. c .. 1.00 = 1.00 .. A S 0.60eod+0.6Wind_Long1 L 6 0.60eod+0.6Wind_Suction+0.6Wind_Long 1 L 7 0.60eod+0.6Wind_Pressure+0.6Wind_Long 1 L 8 0.60eod+0.6Wind_Left1 +0.6Wind_Suction 9 0.60eod+0.6Wind_Left1 +0.6Wind_Pressure 1 0 0.60eod+0.6Wind_Right 1 +0.6Wind_Suction 11 0.6Deod+0.6Wind_Right 1 +0.6Wind_Pressure ···~ 237 Sl)U1M &TH STREET P.C llCIO-l27-D790 SOIT1 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 46 / 139 '7 FLANGE BRACES: Both Sides(U.N.) FBxxA( 1 ): xx=length(in) A -L2x1/8 . O'I I .. ~ I . .. U) I ~ . m I ;., -1 P,..3/4" 26 Go. SR, Golvolume (css) ------ Rfl-2 47'-3 1 a· CLEAR + - RIGID FRAME ELEVATION: FRAME LINE 2 3 4 5 6 7 8 9 10 11 12 13 14 ···~ 237 SCIU1H 4T>I $111ttT P.C 1100-l21-01t0 som Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 47 / 139 Procon Properties, LLCTax Increment Financing RequestEstimated Real Estate Taxes on Project Site Upon Completion of Project Existing Assessed Value and Real Estate Tax on Project Site Assessed Value (2020)Parcel Number Improvements Land Total Taxes Sq Feet Mil Rate 0400015145 - 14,483 14,483 300.46 22,101 2.0745702% 0400095645 - 14,482 14,482 300.42 22,148 2.0744372% 0400095661 - 14,482 14,482 300.42 22,184 2.0744372%0400095726 - 14,482 14,482 300.42 22,220 2.0744372%0400095769 - 14,482 14,482 300.42 22,256 2.0744372% 0400095793 - 14,482 14,482 300.42 22,291 2.0744372% Before subdivision - 86,893 86,893 1,802.56 133,200 Subdivided Sq Ft 133,200 133,200 133,200 133,200 Divided by total existing 133,200 133,200 133,200 133,200 Ratio 1.000000 1.000000 1.000000 1.000000 Estimated subdivision - 86,893 86,893 1,803 Estimated Real Estate Taxes on Project Site Upon Completion of Project Note 12020 Assessment Limitation2020 taxes assessed on site prior to project commencement 1,803 Divided by base assessed value 86,893 Estimated tax rate 2.074460% Proposed assessed value 4,289,940 Estimated annual real estate tax after project completion 88,993 Less existing annual real estate tax (1,803) Estimated increase in annual real estate tax 87,191 98,417 15 15 Requested TIF assistance at zero percent lending rate 1,307,858 1,476,259 Principal debt service at indicated rate Rate Principal Principal With annual note payments PVA 4.50%936,387 1,056,957 With monthly note payments PVA 4.50%949,796 1,072,093 Notes: 1.)This column represents requested financing in the event the tax increment over 15 yearsexceeds actual qualified TIF costs. Requested TIF assistance is limited to qualified costs. Exhibit B Grand Island Regular Meeting - 9/8/2021 Page 48 / 139 Procon Properties, LLC Project Cost Summary TIF Phase #1 Phase #2 Qualified (Q) Description Amount Amount Total Non-Qualified (NQ) TIF qualified general conditions 87,500.00 100,625.00 188,125.00 Q TIF non-qualified general conditions 54,100.00 62,215.00 116,315.00 NQ Subtotal 141,600.00 162,840.00 304,440.00 TIF qualified sitework 92,150.00 105,973.00 198,123.00 Q TIF non-qualified sitework 7,870.00 9,051.00 16,921.00 NQ Subtotal 100,020.00 115,024.00 215,044.00 Landscaping 11,235.00 12,920.00 24,155.00 NQ Fencing 18,450.00 21,218.00 39,668.00 NQ TIF qualified concrete 209,650.00 241,098.00 450,748.00 Q TIF non-qualified concrete 149,975.00 172,471.00 322,446.00 NQ Subtotal 359,625.00 413,569.00 773,194.00 Metals 29,190.00 33,569.00 62,759.00 NQ Pre-engineered building 771,860.00 887,639.00 1,659,499.00 NQ Overhead doors 107,595.00 123,734.00 231,329.00 NQ Hollow metal door 67,155.00 77,228.00 144,383.00 NQ Drywall 12,535.00 14,415.00 26,950.00 NQ Painting 6,850.00 7,878.00 14,728.00 NQ Signage 8,560.00 9,844.00 18,404.00 NQ TIF qualified plumbing 125,850.00 144,728.00 270,578.00 Q TIF non-qualified plumbing 34,760.00 39,974.00 74,734.00 NQ Subtotal 160,610.00 184,702.00 345,312.00 TIF qualified electrical 104,900.00 120,635.00 225,535.00 Q TIF non-qualified electrical 114,840.00 132,066.00 246,906.00 NQ Subtotal 219,740.00 252,701.00 472,441.00 NQ Total project costs per construction pro-forma 2,015,025.00 2,317,281.00 4,332,306.00 Other costs: Land 67,500.00 67,500.00 135,000.00 Q Financing 40,000.00 40,000.00 80,000.00 NQ Legal & accounting 1,000.00 7,150.00 8,150.00 Q Total project costs 2,123,525.00 2,431,931.00 4,555,456.00 Total TIF qualified costs (Q)688,550.00 787,709.00 1,476,259.00 Total TIF non-qualified costs (NQ)1,434,975.00 1,644,222.00 3,079,197.00 Total project costs 2,123,525.00 2,431,931.00 4,555,456.00 Phase 2 (cost increase percentage)15.00% Exhibit C Grand Island Regular Meeting - 9/8/2021 Page 49 / 139 Above summary only includes phase 1 costs. Exhibit C Grand Island Regular Meeting - 9/8/2021 Page 50 / 139 Amounts reflected above are included in totals reflected on previous page and include only phase 1 costs.Exhibit CGrand IslandRegular Meeting - 9/8/2021Page 51 / 139 Exhibit D Annual Income & Expense Pro Forma Grand Island Regular Meeting - 9/8/2021 Page 52 / 139 Grand IslandRegular Meeting - 9/8/2021Page 53 / 139 Grand IslandRegular Meeting - 9/8/2021Page 54 / 139 Grand IslandRegular Meeting - 9/8/2021Page 55 / 139 SCHROEDER ~ SCHREINER, P.C. CERTIFIED PUBLIC ACCOUNTANTS 2535 N. Carleton Ave. SuiteB Grand Island, NE 68803 PO. Box 520 Grand Island, NE 68802-0520 PH: 308-381-1355 FAX:308·381 ·6557 EMAIL: info@ss-cpas.com WEBSITE: www.ss-cpas.com To Management of Procon Properties, LLC Grand Island, NE INDEPENDENT ACCOUNTANTS' COMPILATION REPORT Management is responsible for the accompanying projection of Procon Properties, LLC, which comprise projected statements of receipts and disbursements under various tax increment financing scenarios detailed in Note A -cash basis of Procon Properties, LLC (see introduction), for the twelve months ending after project phase 1 completion, and the related summaries of significant assumptions in accordance w ith guidelines for the presentation of a projection established by the American Institute of Certified Public Accountants (AICPA). We have performed a compilation engagement in accordance with Statements on Standa rds for Accounting and Review Services promulgated by the Accounting and Review Services Committee of the AICPA. We did not examine or review the projection nor were we required to perform any procedures to verify the accuracy or co mpleteness of the information provided by management. Accordingly, we do not express an opinion, a conclusion, nor provide any form of assurance on this projection. Even if the tax increment fi nancing (TI F) scena rios outlined occurred, the projected results may not be achieved, as there will usually be differences between the projection and actual results because events an d circumstances frequently do not occur as expected, and those differences may be material. We have no responsibility to update this report fo r events and circumstances occurring after the date of this report. Management has elected to omit substantially all disclosures and the summary of significant accounting policies required by the guidelines for presentation of a projection established by the AICPA other than those related to the significant assumptions. If the omitted disclosures and accounting policies were included in the projection, they might influence the user's conclusions about Procon Properties, LLC's net cash receipts and disbursements for t he projection period. Accordingly, this projection is not designed for those who are not informed about such matters. This accompanying projection and this report are intended solely for the information and use of Procon Properties, LLC, the Grand Island Community Redevelopment Authority, the Grand Island City Council, and certain individuals and organizations involved in the tax increment financing application process and are not intended to be and should not be used by anyone other than these specified parties. Grand Island, NE June 29, 2021 4 Grand Island Regular Meeting - 9/8/2021 Page 56 / 139 Grand IslandRegular Meeting - 9/8/2021Page 57 / 139 Grand IslandRegular Meeting - 9/8/2021Page 58 / 139 Grand IslandRegular Meeting - 9/8/2021Page 59 / 139 Procon Properties, LLC Tax Increment Financing Application Capitalization Rate Analysis With Tax Without TaxIncrement Financing Increment Financing Net operating income 126,397 82,317 Divided by fair market value 2,123,525 2,123,525 Equals capitalization rate 5.95%3.88% Exhibit E Grand Island Regular Meeting - 9/8/2021 Page 60 / 139 Grand Island Regular Meeting - 9/8/2021 Page 61 / 139 Community Redevelopment Authority (CRA) Wednesday, September 8, 2021 Regular Meeting Item I2 Redevelopment Plan Amendment Area #32 -3MJRm LLC Staff Contact: Grand Island Regular Meeting - 9/8/2021 Page 62 / 139 Redevelopment Plan Amendment Grand Island CRA Area 32 September 2021 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 32 with in the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific infrastructure related project in Area 32. Executive Summary: Project Description THE REDEVELOPMENT APPROXIMATELY 26 ACRES OF PROPERTY LOCATED BETWEEN WEST OF NORTH ROAD AND SOUTH OF OLD POTASH HIGHWAY NORTHWEST GRAND ISLAND FOR THE DEVELOPMENT OF 192 UNITS OF 55 PLUS AGE RESTRICTED HOUSING IN THREE AND FIVE UNIT BUILDINGS. The use of Tax Increment Financing to aid in redevelopment expenses associated with platting and installing the necessary infrastructure (streets, sanitary sewer, water, and storm sewer) for the development of 192 units of age restricted housing in 48 three and five unit buildings on property being platted as Jaxson Subdivision in northwest Grand Island. The use of Tax Increment Financing is an integral part of the development plan and necessary to make this project affordable. The 2020 Housing Study for the City of Grand Island identified a need of 222 owner occupied and 237 rental units for the 55+ population by 2024. This project with rents commensurate with market conditions would not be possible without the use of Tax Increment Financing. 3MJR LLC – has an option to purchase this property that will expire in November of 2021 if the project is not approved. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with the construction of units. The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated over multiple 15 year periods beginning January 1, 2022 towards the allowable costs and associated financing for the development of this property. TAX INCREMENT FINANCING TO PAY FOR THE DEVELOPMENT OF THE PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY: Property Description (the “Redevelopment Project Area”) Legal Descriptions: Property being platted as Jaxson Subdivision in the City of Grand Island, Hall County, Nebraska. Parcel Number 400200929 Grand Island Regular Meeting - 9/8/2021 Page 63 / 139 Existing Land Use and Subject Property Grand Island Regular Meeting - 9/8/2021 Page 64 / 139 The tax increment will be captured for the tax years the payments for which become delinquent in years 2022 through 2049 inclusive. The TIF contract will be structured so it can be amended each year for up to twelve years to add the housing units to be completed during that year. No single property will be eligible for TIF for a period of more than 15 years. 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 development of the property for residential uses and the construction of three and five unit buildings for persons 55 and older. Statutory Pledge of Taxes. In accordance with Section 18-2147 of the Act and the terms of the Resolution providing for the issuance of the TIF Note, the Authority hereby provides that any ad valorem tax on the Redevelopment Project Area for the benefit of any public body be divided for a period of fifteen years after the effective date of this provision as set forth in the Redevelopment Contract or any amendment to the redevelopment contract, consistent with this Redevelopment Plan. The plan anticipates that each phase of the development will constitute new effective date for the purposes of determining the period of fifteen years. Said taxes shall be divided as follows: a. That portion of the ad valorem tax which is produced by levy at the rate fixed each year by or for each public body upon the redevelopment project valuation shall be paid into the funds, of each such public body in the same proportion as all other taxes collected by or for the bodies; and b. That portion of the ad valorem tax on real property in the redevelopment project in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the Authority to pay the principal of; the interest on, and any premiums due in connection with the bonds, loans, notes, or advances on money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such Authority for financing or refinancing, in whole or in part, a redevelopment project. When such bonds, loans, notes, advances of money, or indebtedness including interest and premium due have been paid, the Authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon real property in such redevelopment project shall be paid into the funds of the respective public bodies. Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged to the repayment of loans or advances of money, or the incurring of any indebtedness, whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in whole or in part, the redevelopment project, including the payment of the principal of, premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness. Redevelopment Plan Amendment Complies with the Act: Grand Island Regular Meeting - 9/8/2021 Page 65 / 139 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 June 22, 2021.[§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 rehabilitate the building for permitted uses on this property as defined by the current and effective zoning regulations. The Hall County Regional Planning Commission held a public hearing at their meeting on October 6, 2021 and passed Resolution 2021-01 confirming that this project is consistent with the Comprehensive Plan for the City of Grand Island. The Grand Island Public School District has submitted a formal request to the Grand Island CRA to notify the District any time a TIF project involving a housing subdivision and/or apartment complex is proposed within the District. The school district was notified of this plan amendment prior to it being submitted to the CRA for initial consideration. 3. The Redevelopment Plan must be sufficiently complete to address the following items: [§18-2103(13) (b)] a. Land Acquisition: This Redevelopment Plan for Area 32 provides for real property acquisition and this plan amendment does not prohibit such acquisition. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: The project to be implemented with this plan does not provide for the demolition and removal any structures on this property. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. All of the area around the site in private ownership is planned for low to medium density residential development. This property is in private ownership. [§18-2103(b) and §18-2111] The attached map also is an accurate site plan of the area after redevelopment. [§18-2111(5)] Grand Island Regular Meeting - 9/8/2021 Page 66 / 139 City of Grand Island Future Land Use Map Grand Island Regular Meeting - 9/8/2021 Page 67 / 139 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned LLR Large Lot Residential but the future land use map calls for low to medium density residential. The applicant has submitted a plan for a residential development zone that would not exceed the density allowed in the medium density zoning district (14 units per acre on 26 acres would be 364 units). The plan for the residential development zone will be presented to planning commission and council along with the request for TIF. New private streets are anticipated and needed to support this project and it is anticipated that TIF revenues will offset the costs of those improvements. No changes are anticipated in building codes or other ordinances. No other planning changes contemplated. [§18-2103(b) and §18-2111] e. Site Coverage and Intensity of Use The proposed zoning as an RD zone allows for up to 42 units per acre if approved. The proposed development will be 7.38 units per acre. The proposed development if approved as submitted will meet those coverage and intensity of use requirements of the RD zone. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities Sanitary sewer and water are available to support this development. Both sanitary sewer and water will need to be extended throughout the site. TIF revenues will be used to offset the cost of these public utility improvements. Electric utilities are sufficient for the proposed use of this property. Electric lines, transformers, and conduit will need to be extended throughout the property. No other publicly owned utilities would be impacted by the development. §18-2103(b) and §18-2111] 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. This property is vacant and has been vacant for more than 1 year; no relocation is contemplated or necessary. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA have any interest in this property. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. Grand Island Regular Meeting - 9/8/2021 Page 68 / 139 The purchase price of the property is $780,870 as an eligible expense. The estimated costs of utilities including sewer, water and electric is $3,054,580. The cost of grading, and streets/trail/sidewalks and drainage is $4,289,446. Planning activities including engineering, architecture, legal fees and government fees are estimated at $157,148. The total of the eligible expenses for this project is estimated by the developer at over $8,280,000. 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 $7,460,038 from the proceeds of the TIF. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2022 through December 2047. 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. This amendment, in and of itself will promote consistency with the Comprehensive Plan. This will have the intended result of preventing recurring elements of unsafe buildings and blighting conditions. This will accomplish the goal of increasing the number of residential units within the City of Grand Island and encouraging infill development. Grand Island Regular Meeting - 9/8/2021 Page 69 / 139 8. Time Frame for Development Development of this project is anticipated to begin in the 2022 year. The subdivision will likely be built in six phases with approximately 8 buildings per phase and two phases at a time. The developer is anticipating construction of 32 units per year though this may be adjusted for market demand. It is anticipated that the units in this development will be built in 2034 with the tax increment on those homes extending to 2049. Excess valuation should be available for the first homes built with this project for 15 years beginning with the 2023 tax year. 9. Justification of Project The 2020 housing study for the City of Grand Island projected that by 2024 we would need an additional 1361 new housing units, 222 of those should be 55+ owner occupied and 237 should be 55+ rental units. Between January 1 of 2020 and July of 2021 permits for 305 new housing units had bee issued. The current housing market, a combination of the cost of producing housing and the prevailing wages, has not created a situation that gives the markets sufficient incentive to build the number housing units required to meet community needs. This lack of housing options impacts a variety of other areas within the community including work force development, overcrowding, maintenance of residential units and rents. This project will create new housing options for the 55+ citizens of Grand Island and will likely result in the sale of existing homes around the city. 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. (2019), the City of Grand Island has analyzed the costs and benefits of the proposed Redevelopment Project, including: Project Sources and Uses. Approximately $7,460,038 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 $27,654,611 in private sector financing; a private investment of $3.71 for every TIF dollar invested. Grand Island Regular Meeting - 9/8/2021 Page 70 / 139 Use of Funds. Source of Funds Description TIF Funds Private Funds Total Site Acquisition $ 780,870 $780,870 Building Costs $23,122,640 $23,122,640 Sewer $1,658,457 $1,654,457 Water $806,794 $806,794 Electric $589,329 $589,329 Public Streets/Sidewalks $1,319,540 $822,006 $2,141,546 Private Streets $1,596,432 $1,596,432 Trails $87,413 $87,413 Site preparation/Dirt Work $2,060,487 $2,060487 Architecture/Engineering $81,800 $81,800 Financing Fees/ Audit $1,511,980 $1,511,980 Legal/TIF Contract $72,248 $72,248 other (ROW Landsjacaping/Parks) $601,553 $601,553 Govt. Fees and Expenses $3,100 $3,100 Total $7,460,038 $27,654,611 $35,114,649 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2020, valuation of approximately $114,694. Based on the 2020 levy this would result in a real property tax of approximately $2,263. It is anticipated that the assessed value will increase by $25,805,306 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $497,000 annually. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for the period of the bonds, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2020 assessed value: $ 114,694 Estimated value after completion $ 25,920,000 Increment value $ 25,805,306 Annual TIF generated (estimated) $ 497,336 TIF bond issue $ $7,460,038 Grand Island Regular Meeting - 9/8/2021 Page 71 / 139 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $114,694. The proposed redevelopment will create additional valuation of $25,805,306 over the course of the next twelve years. The project creates additional valuation that will support taxing entities long after the project is paid off along with providing 192 additional housing for persons 55 and older. The tax shift from this project will be equal to the total of the bond principal of $7,460,038 if fully funded and any associated interest on the bond to be assigned with contract approval. (b) Public infrastructure and community public service needs impacts and local tax impacts arising from the approval of the redevelopment project; Existing water and waste water facilities will not be negatively impacted by this development. The electric utility has sufficient capacity to support the development. This is infill development with services connecting to existing line with capacity. This development is unlikely to result in a larger number of students in the Shoemaker Elementary School service area since it is restricted to individuals 55 years old and older. Fire and police protection are available and should not be negatively impacted by this development though there will be some increased need for officers and fire fighters as the City continues to grow whether from this project or others. Housing of the type proposed is unlikely to attract families to the neighborhood. It is unlikely that this housing bring additional school age children to the area. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; This will provide additional housing options for the residents of Grand Island. The National Homebuilders Association estimated in a 2008 study that each unit of multifamily housing resulted in 1.16 full time equivalent jobs so this development at 32 units per year would represent an additional 37 FTE’s within the city for the next six years. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project will not have a negative impact on other employers different from any other expanding business within the Grand Island area. Grand Island does have tight labor market and part of that is due to the availability and cost of housing. This development may help alleviate some of those pressures. Grand Island Regular Meeting - 9/8/2021 Page 72 / 139 (e) Impacts on student populations of school districts within the City or Village: This development will have a minimal impact on the Grand Island School system and will likely not result in additional students at the elementary and secondary school levels. All of the units in this development will be restricted to persons 55 and over. This housing will not provide housing for any school age children. The Grand Island Public School System was notified on August 24, 2021 that the CRA would be considering this application at their September 8, 2021 meeting. (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 is consistent the goals of the 2020 Housing Study for the City of Grand Island to create more than 1361 new housing units, 222 of those should be 55+ owner occupied and 237 should be 55+ rental units. Between January of 2020 and July of 2021 the City of Grand Island has issue permits for 305 housing units. The local housing market is not capable of producing the number of units needed at market rate given the costs of building and development. Time Frame for Development Development of this project is anticipated to be completed during between Spring of 2022 and the end of 2034. The base tax year should be calculated on the value of the property as of January 1, 2022 for the first phase with each phase based on the preceding year’s valuation of the property included in the amendment for that year. Excess valuation should be available for this project beginning in 2022 with taxes due in 2023. 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 on each property or an amount not to exceed $7,460,038 the projected amount of increment based upon the anticipated value of the project and current tax rate. Based on the estimates of the expenses of the rehabilitation the developer will spend at least $8,200,000 on TIF eligible activities. Grand Island Regular Meeting - 9/8/2021 Page 73 / 139 Form Updated 7-25-2019cn Page | 1 BACKGROUND INFORMATION RELATIVE TO TAX INCREMENT FINANCING REQUEST Project Redeveloper Information Business Name: ______________________________________________________________ Address: _______________________________________________________________ Telephone No.: __________________________ Fax No.: _______________ Email: _________________________________________________________ Contact: _______________________________________________________________ Application Submission Date: Brief Description of Applicant’s Business:__ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________ Legal Description/Address of Proposed Project Community Redevelopment Area Number ________ 3MJR, LLC PO Box 5616, Grand Island, NE 68802 308-391-2959 308-381-6557 rhoadsjr@charter.net Josh Rhoads 3MJR, LLC is organized as a Nebraska LLC. Subsequent to project completed(pending TIF approval), the company will operate and lease housing units for those aged 55+ located at the project site (Jaxson Subdivision). Upon completionofall phases of the proposed project, a total of 48 buildings housing 192 units will be available. Jaxson Subdivision, Hall County Nebraska (Parcel 400200929) Grand Island Regular Meeting - 9/8/2021 Page 74 / 139 Form Updated 7-25-2019cn Page | 2 Present Ownership Proposed Project Site: ________________________________________________________________ _____________________________________ Is purchase of the site contingent on Tax Increment Financing Approval? Yes No Proposed Project: Building square footage, size of property, description of buildings – materials, etc. Please attach site plan, if available. ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________ If Property is to be Subdivided, Show Division Planned: VI. Estimated Project Costs: Acquisition Costs: A. Land $ ______________ B. Building $ ______________ Construction Costs: A. Renovation or Building Costs: $ ______________ B. On-Site Improvements: Sewer $ ______________ Water $ ______________ Electric $ ______________ Gas $ ______________ Public Streets/Sidewalks $ ______________ 1$ Eric & Kenda Pollock Trust ✔ Site preparation at Jaxson Subdivision, including concrete work, infrastructure (sewerand electric), landscaping, fencing, etc. and the construction of 48 housing unitsintended for residential living by those aged 55+. Phases will each consistof32housing units, either 2-bedroom or 3-bedroom floor plans. Once all six phases arecompleted over twelve years there will be 192 housing units, 96 2-bedroom floor plansand 96 3-bedroom floor plans 780,870 0 23,122,640 1,658,457 806,794 589,329 2,228,959 Grand Island Regular Meeting - 9/8/2021 Page 75 / 139 Form Updated 7-25-2019cn Page | 3 Private Streets $ ______________ Trails $ ______________ Grading/Dirtwork/Fill $ ______________ Demolition $ ______________ Other $ ______________ Total $ ______________ Soft Costs: A. Architectural & Engineering Fees: $ ______________ B. Financing Fees: $ ______________ C. Legal $ ______________ D. Developer Fees: $ ______________ E. Audit Fees $ ______________ F. Contingency Reserves: $ ______________ G. Other (Please Specify) $ ______________ TOTAL $ ______________ Total Estimated Market Value at Completion: $ Source for Estimated Market Value________________________________________ Source of Financing: A. Developer Equity: $ ______________ B. Commercial Bank Loan: $ ______________ C. Tax Credits: 1. N.I.F.A. $ ______________ 2. Historic Tax Credits $ ______________ 3. New Market Tax Credits $ ______________ 4. Opportunity Zone $ ______________ D. Industrial Revenue Bonds: $ ______________ E. Tax Increment Assistance: $ ______________ F. Enhanced Employment Area $ ______________ 1RWH7,)UHTXHVWHGDW]HURSHUFHQWOHQGLQJUDWHLV$PRXQWILQDQFHGLQLWHP(DERYHLVSULQFLSDORQO\SRUWLRQDIWHUDSSO\LQJD OHQGLQJUDWHRQD\HDUWHUPQRWHZLWKPRQWKO\SD\PHQWVLQWHUHVWFRPSRQHQWLV 1,596,432 2,060,487 601,553 33,445,522 81,800 1,511,980 72,248 1,666,028 25,920,000 Market value arrive at using the lessor of cost of estimated assessed value provided by Hall County Assessor divided by 92% 1,604,661 28,089,239 5,417,649 Grand Island Regular Meeting - 9/8/2021 Page 76 / 139 Form Updated 7-25-2019cn Page | 4 G. Nebraska Housing Trust Fund $ ______________ H. Other $ ______________ Name, Address, Phone & Fax Numbers of Architect, Engineer and General Contractor: _______________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Estimated Real Estate Taxes on Project Site Upon Completion of Project: (Please Show Calculations)________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Project Construction Schedule: Construction Start Date: _________________________________________________ Construction Completion Date: ___________________________________________ If Phased Project: _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete Architect: Engineer: Olsson Associates 201 E 2nd St Grand Island, NE 68801(308)384-8750 General Contractor: $445,997 ( see exhibit B for detailed calculation) January 1, 2022 December 31, 2033 Phase 1 - 1/1/2022 - 12/31/2023 16.67 Phase 2 - 1/1/2024 - 12/31/2025 16.67 Phase 3 - 1/1/2026 - 12/31/2027 16.67 Phase 4 - 1/1/2028 - 12/31/2029 16.67 Phase 5 - 1/1/2030 - 12/31/2031 16.66 Phase 6 - 1/1/2032 - 12/31/2033 16.66 Grand Island Regular Meeting - 9/8/2021 Page 77 / 139 Form Updated 7-25-2019cn Page | 5 XII. Please Attach Construction Pro Forma XIII. 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: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ______________________________________________________________ Statement Identifying Financial Gap and Necessity for use of Tax Increment Financing for Proposed Project: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ 6HH([KLELW& 6HH([KLELW' $6,689,959 of tax increment financing (based on a 0% lending rate) is being requested to assist in the construction of 48 housing units to be located in the Jaxson Subdivision of Hall County which are intended to create a total of 192 homes for those 55+ upon completion. The six-phase project involves the construction of thehousing units, as well concrete work for the foundations and all necessary accessroads, as well as appropriate sewer and electrical hookups to the city waterandelectric facilities. The TIF funds will enable the project to be undertaken, resulting in vast improvements to the current location with the development of an area the will help to satisfy an underutilized occupancy demand of Grand Island. Tax increment financing is an integral and essential component to project completion, which is contingent upon receipt of the expected tax increment assistance. Feasibility is dependent on TIF funds that will enable the creation of adequate economics in operating the new development at a competitive rate in thespecified area (See Exhibit E for the capitalization rate analysis). Grand Island Regular Meeting - 9/8/2021 Page 78 / 139 Form Updated 7-25-2019cn Page | 6 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: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________ Post Office Box 1968 Grand Island, Nebraska 68802-1968 Phone: 308 385-5240 Fax: 308 385-5423 Email: cnabity@grand-island.com Tony PorterExchange Bank1204 Allen DrGrand Island, NE 68803(308) 382-2900 Ray O'Connor2502 N Webb RdGrand Island, NE 68803(308) 381-2497 Jeff Vinson1527 Stagecoach RdGrand Island, NE 68801(308) 379-6836 Grand Island Regular Meeting - 9/8/2021 Page 79 / 139 117.23'162.00'115.57'162.00'115.16'255.00'112.54'255.00'220.00'220.00'110.29' 98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'98.00' 98.00'162.00'98.00' 98.00'255.00'98.00'220.00'98.00'186.43'98.00'186.42'98.00'186.43'98.00' 109.88'186.44'107.96' 98.00' 98.00'186.42'98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'98.00' 98.00'162.00'98.00' 98.00'255.00'98.00'220.00'98.00' 98.00'186.42'98.00' 98.00'186.42'98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'98.00' 98.00'162.00'98.00' 98.00'255.00'98.00'220.00'98.00' 98.00'186.42'98.00' 98.00'186.42'98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'98.00' 98.00'162.00'98.00' 98.00'255.00'98.00'220.00'98.00' 98.00'186.42'98.00' 98.00'186.42'98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'88.50' 88.50'162.00'88.50' 88.50'255.00'220.00'88.50' 88.50' 88.50'186.42'101.08' 102.89'206.50'98.97'240.01'96.57'275.01'94.98'181.92'96.57'275.00'240.00'206.49'182.00'LOT 48 LOT 1 LOT 2 LOT 3 LOT 4 LOT 5 LOT 7 LOT 8 LOT 12 LOT 10 LOT 9 LOT 42 LOT 43 LOT 44 LOT 47 LOT 40 LOT 6 LOT 11 LOT 41 LOT 39LOT 34 LOT 33 LOT 31 LOT 32 LOT 26 LOT 25 LOT 23 LOT 24 LOT 18 LOT 17 LOT 15 LOT 16 LOT 37LOT 36LOT 29LOT 28LOT 21LOT 20LOT 13 LOT 38LOT 35LOT 30LOT 27LOT 22LOT 19LOT 14 LOT 46 LOT 45 NORTH ROADOLD POTASH HWY.LOT LAYOUT1 EXISTING ZONING PROPOSED ZONING JOSH AVENUE MAKAYLA AVENUE ASHLEY AVENUEOLD POTASH HWY40'30' B-B 40'30' B-B 30.0' B-B 25.0' DRAINAGE/ ACCESS EASEMENT 25.0' DRAINAGE/ ACCESS EASEMENT 25.0' DRAINAGE/ ACCESS EASEMENT 25.0' DRAINAGE/ ACCESS EASEMENT 25.0' DRAINAGE/ ACCESS EASEMENT 33.0' 30.0' LANDSCAPE SETBACK 40.0' R.O.W. 30' LANDSCAPE SETBACK UNPLATTED 10' LANDSCAPE SETBACK UNPLATTED UNPLATTEDOUTLOT A 22.0' DRIVE22.0' DRIVE 22.0' DRIVE 22.0' DRIVE 22.0' DRIVE SHEET REVISIONSNO.REV.DATEREVISIONS DESCRIPTIONproject no.: approved by: checked by: drawn by: drawing no.: QA/QC by: date:www.olsson.comTEL 308.384.8750201 East 2nd StreetGrand Island, NE 68801JAXSON SUBDIVISIONPRELIMINARY PLATGRAND ISLAND, NE20203 AT BD BD AT 20-3806 12.18.2020 of 22.0' DRIVE22.0' DRIVE 22.0' DRIVE 22.0' DRIVE 22.0' DRIVE 22.0' DRIVE22.0' DRIVE 22.0' DRIVE 22.0' DRIVE 22.0' DRIVE OUTLOT A OUTLOT A27.0' UTILITY EASEMENT 30.00' LANDSCAPE SETBACK PAVEMENT LANDSCAPE OUTLOT LEGEND: BUILDING 20.0' DRAINAGE EASEMENT LOCATION MAP NOT TO SCALE Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 80 / 139 117.23'162.00'115.57'162.00'115.16'255.00'112.54'255.00'220.00'220.00'110.29' 98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'98.00' 98.00'162.00'98.00' 98.00'255.00'98.00'220.00'98.00'186.43'98.00'186.42'98.00'186.43'98.00' 109.88'186.44'107.96' 98.00' 98.00'186.42'98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'98.00' 98.00'162.00'98.00' 98.00'255.00'98.00'220.00'98.00' 98.00'186.42'98.00' 98.00'186.42'98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'98.00' 98.00'162.00'98.00' 98.00'255.00'98.00'220.00'98.00' 98.00'186.42'98.00' 98.00'186.42'98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'98.00' 98.00'162.00'98.00' 98.00'255.00'98.00'220.00'98.00' 98.00'186.42'98.00' 98.00'186.42'98.00' 98.00'220.00'98.00'255.00'98.00' 98.00'162.00'88.50' 88.50'162.00'88.50' 88.50'255.00'220.00'88.50' 88.50' 88.50'186.42'101.08' 102.89'206.50'98.97'240.01'96.57'275.01'94.98'181.92'96.57'275.00'240.00'206.49'182.00'LOT 48 LOT 1 LOT 2 LOT 3 LOT 4 LOT 5 LOT 7 LOT 8 LOT 12 LOT 10 LOT 9 LOT 42 LOT 43 LOT 44 LOT 47 LOT 40 LOT 6 LOT 11 LOT 41 LOT 39LOT 34 LOT 33 LOT 31 LOT 32 LOT 26 LOT 25 LOT 23 LOT 24 LOT 18 LOT 17 LOT 15 LOT 16 LOT 37LOT 36LOT 29LOT 28LOT 21LOT 20LOT 13 LOT 38LOT 35LOT 30LOT 27LOT 22LOT 19LOT 14 LOT 46 LOT 45 NORTH ROADOLD POTASH HWY.LOT LAYOUT1 EXISTING ZONING PROPOSED ZONING JOSH AVENUE MAKAYLA AVENUE ASHLEY AVENUEOLD POTASH HWY40'30' B-B 40'30' B-B 30.0' B-B 25.0' DRAINAGE/ ACCESS EASEMENT 25.0' DRAINAGE/ ACCESS EASEMENT 25.0' DRAINAGE/ ACCESS EASEMENT 25.0' DRAINAGE/ ACCESS EASEMENT 25.0' DRAINAGE/ ACCESS EASEMENT 33.0' 30.0' LANDSCAPE SETBACK 40.0' R.O.W. 30' LANDSCAPE SETBACK UNPLATTED 10' LANDSCAPE SETBACK UNPLATTED UNPLATTEDOUTLOT A 22.0' DRIVE22.0' DRIVE 22.0' DRIVE 22.0' DRIVE 22.0' DRIVE SHEET REVISIONSNO.REV.DATEREVISIONS DESCRIPTIONproject no.: approved by: checked by: drawn by: drawing no.: QA/QC by: date:www.olsson.comTEL 308.384.8750201 East 2nd StreetGrand Island, NE 68801JAXSON SUBDIVISIONPRELIMINARY PLATGRAND ISLAND, NE20203 AT BD BD AT 20-3806 12.18.2020 of 22.0' DRIVE22.0' DRIVE 22.0' DRIVE 22.0' DRIVE 22.0' DRIVE 22.0' DRIVE22.0' DRIVE 22.0' DRIVE 22.0' DRIVE 22.0' DRIVE OUTLOT A OUTLOT A27.0' UTILITY EASEMENT 30.00' LANDSCAPE SETBACK PAVEMENT LANDSCAPE OUTLOT LEGEND: BUILDING 20.0' DRAINAGE EASEMENT LOCATION MAP NOT TO SCALE Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 81 / 139 LOT 48 LOT 1 LOT 2 LOT 3 LOT 4 LOT 5 LOT 7 LOT 8 LOT 12 LOT 10 LOT 9 LOT 42 LOT 43 LOT 44 LOT 47 LOT 40 LOT 6 LOT 11 LOT 41 LOT 39LOT 34 LOT 33 LOT 31 LOT 32 LOT 26 LOT 25 LOT 23 LOT 24 LOT 18 LOT 17 LOT 15 LOT 16 LOT 37LOT 36LOT 29LOT 28LOT 21LOT 20LOT 13 LOT 38LOT 35LOT 30LOT 27LOT 22LOT 19LOT 14 LOT 46 LOT 45 UTILITY LAYOUT2 JOSH AVENUE MAKAYLA AVENUE ASHLEY AVENUEOLD POTASH HWYSHEET REVISIONSNO.REV.DATEREVISIONS DESCRIPTIONproject no.: approved by: checked by: drawn by: drawing no.: QA/QC by: date:www.olsson.comTEL 308.384.8750201 East 2nd StreetGrand Island, NE 68801JAXSON SUBDIVISIONPRELIMINARY PLATGRAND ISLAND, NE20203 AT BD BD AT 20-3806 12.18.2020 of TYPICAL WATER/SANITARY SERVICE LAYOUT 1"=30' Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 82 / 139 LOT 48 LOT 1 LOT 2 LOT 3 LOT 4 LOT 5 LOT 7 LOT 8 LOT 12 LOT 10 LOT 9 LOT 42 LOT 43 LOT 44 LOT 47 LOT 40 LOT 6 LOT 11 LOT 41 LOT 39LOT 34 LOT 33 LOT 31 LOT 32 LOT 26 LOT 25 LOT 23 LOT 24 LOT 18 LOT 17 LOT 15 LOT 16 LOT 37LOT 36LOT 29LOT 28LOT 21LOT 20LOT 13 LOT 38LOT 35LOT 30LOT 27LOT 22LOT 19LOT 14 LOT 46 LOT 45 GRADING PLAN3 JOSH AVENUE MAKAYLA AVENUE ASHLEY AVENUEOLD POTASH HWYSHEET REVISIONSNO.REV.DATEREVISIONS DESCRIPTIONproject no.: approved by: checked by: drawn by: drawing no.: QA/QC by: date:www.olsson.comTEL 308.384.8750201 East 2nd StreetGrand Island, NE 68801JAXSON SUBDIVISIONPRELIMINARY PLATGRAND ISLAND, NE20203 AT BD BD AT 20-3806 12.18.2020 of PROPOSED DRAINAGE DITCH / DETENTION CELL Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 83 / 139 40'(M)40'(M) N89°55'08"E 475.03'(M) 40'(M) N89°55'08"E 162.00'(M)S00°04'52"E 403.88'(M)N89°55'08"E 186.41'(M)812.39'(M)804.47'(M)N89°55'08"E 162.00'(M)N00°04'37"W 409.57'(M)S00°04'37"E 409.16'(M)N00°04'52"W 404.29'(M)N89°55'08"E 162.00'(M) N89°55'08"E 162.00'(M) OUTLOT A 162.01'(M)255'(M)186'(M) N89°55'08"E 186.42'(M) N89°55'08"E 186.42'(M) N89°55'08"E 186.42'(M) N89°55'08"E 220.00'(M) N89°55'08"E 220.00'(M) N89°55'08"E 220.00'(M)N89°55'08"E 255.01'(M) N89°55'08"E 255.02'(M) N89°55'08"E 255.02'(M) 220'(M)98'(M)98'(M)98'(M)117.23'(M)S89°29'35"E 903.47'(M)107.96'(M)98'(M)98'(M)98'(M)98'(M)98'(M)98'(M)115.57'(M)115.16'(M)98'(M)98'(M)98'(M)255.03'(M)220'(M)98'(M)98'(M)98'(M) 110.29'(M) LOT 1 LOT 2 LOT 3 LOT 4 LOT 8 LOT 7 LOT 6 LOT 5 LOT 12 LOT 11 LOT 10 LOT 9 LOT 16 LOT 15 LOT 14 LOT 13112.54'(M)98'(M)98'(M)98'(M)109.88'(M)98'(M)98'(M)98'(M)40'(M)1316.3'(R) 1316.17'(R1) S89°30'16"E 1316.13'(M)S89°29'35"E 1316.37'(M) 1316.3'(R) 1316.17'(R1)S00°05'51"E 1333.74'(M)N00°04'37"W 1335.71'(M)S89°29'35"E 903.47'(M)S00°04'49"E 1254.36'(M)N89°34'44"W 903.44'(M)N00°04'52"W 1255.71'(M)N89°29'35"W 412.90'(M,D) N89°34'44"W 1316.82'(M) 1316.83'(P) N00°00'54"W 80.00'(M) NOT TO SCALE SEC. 23, T11N, R10W NORTH 1/4 CORNER, SEC 23-T11N-R10W FOUND ALUMINUM CAP AT GRADE IN CENTERLINE EAST-WEST ASPHALT ROAD N 31.24' TO MAG NAIL w/WASHER IN POWER POLE S 34.31' TO MAG NAIL w/WASHER IN GUY POLE SW 54.63' TO MAG NAIL w/WASHER INN POWER POLE SW 68.76' TO NEAR FACE OF EAST LEG OF GAS REGULATOR NORTH 1/16 CORNER, NE1/4, SEC 23-T11N-R10W FOUND MAG NAIL w/WASHER AT GRADE IN EAST-WEST ASPHALT ROAD ON CENTERLINE OF ROAD S 35.37' TO NAIL W/SHINER IN GUY POLE N 32.46' TO NAIL w/SHINER IN POWER POLE SW 46.63' TO 'X' NORTH SIDE SANITARY MANHOLE RIM NORTHEAST CORNER, SEC 23-T11N-R10W FOUND ALUMINUM CAP IN ROCK PILE OF ROUND-A-BOUT AT NORTH ROAD AND OLD POTASH HWY NW 29.09' TO MAG NAIL IN CONCRETE CURB SE 28.97' TO MAG NAIL IN CONCRETE CURB NE 25.93' T MAG NAIL IN CONCRETE LID OF CURB INLET WSW 25.83' TO MAG NAIL IN CONCRETE LID OF CURB INLET SW 87.63' TO TOP OPERATION NUT ON FIRE HYDRANT CENTER 1/16 CORNER, NE1/4 SEC 23-T11N-R10W SET 5/8" REBAR w/PSC LS 674 AT GRADE ON SOUTH TOP OF DRAINAGE DITCH N 80.00' TO 1/2" IRON PIPE w/PSC SSW 25.95' TO MAG NAIL IN SPLIT RAIL FENCE POST SSW 35.69' TO MAG NAIL IN SPLIT RAIL FENCE POST EAST 1/16 CORNER, NE1/4 SEC 23-T11N-R10W FOUND 1" IRON BAR 0.2' BELOW GRADE IN NORTH-SOUTH ASPHALT ROAD ON CENTERLINE OF ROAD WNW34.91' TO MAG NAIL w/WASHER IN BRACE POST W 33.52' TO MAG NAIL w/WASHER IN CORNER FENCE POST SE 55.56' TO RED HEAD NAIL IN POWER POLE SOUTH 1/16 CORNER, NE1/4 SEC 23-T11N-R10W FOUND 'U' POST, 0.2' ABOVE GRADE IN LINE w/EAST-WEST FENCELINE WSW 21.10' TO PIPE ESE 3.60' TO NAIL IN FENCE POST ESE 11.60' TO NAIL IN FENCE POST OWNERS: ERIC M. & KENDA D. POLLOCK SUBDIVIDER: RHOADS ENTERPRISES SURVEYOR: OLSSON ENGINEER: OLSSON NUMBER OF LOTS: 18 / 1 OUTLOT ROW LINE SECTION CORNER SECTION LINE SET CORNER (5/8"x24" REBAR W/CAP OR AS NOTED) SUBDIVISION BOUNDARY LINE PROPERTY LINE FOUND CORNER (AS NOTED) FAX 308.384.8752 TEL 308.384.8750 201 East 2nd Street Grand Island, NE 68801 A A B C D E F B C D E F M MEASURED DISTANCE R RECORDED DISTANCE R1 RECORDED DISTANCE D.D. SORGENFREI LS 578 12/14/2015 D DEEDED DISTANCE INST NO 202000715 1/30/2020 P PLATTED DISTANCE GOSDA SUB POB Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 84 / 139 Grand Island Regular Meeting - 9/8/2021 Page 85 / 139 Grand Island Regular Meeting - 9/8/2021 Page 86 / 139 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 87 / 139 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 88 / 139 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 89 / 139 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 90 / 139 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 91 / 139 Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 92 / 139 Dishwasher 2B24RSB36SB361935 DCB36B24R SB361935 Dishwasher 2B24RSB36DCB36B24R Dishwasher 2SB36B24RDishwasher 2B24RSB36DCB36B24R Dishwasher 2B24RSB36DCB36B24R B24RDCB36 SB361935 SB361935SB361935 Dishwasher 2B24RSB36SB361935 DCB36B24R SB361935 Dishwasher 2B24RSB36DCB36B24R Dishwasher 2SB36B24RDishwasher 2B24RSB36DCB36B24R Dishwasher 2B24RSB36DCB36B24R B24RDCB36 SB361935 SB361935SB361935 WHWHWHWHWH4040LS 3068 4040LS4040LS3068306830683068306830682668 3068 3068 30683068236830683068 2668 3068 4040LS 3068 30683068306830683068 2668 3068 4040LS 2668 3068 3068 30683068306830683068 4040LS 306830683068306830683068 3068 2668 3068 30683068306830689080 9080 9080 90809080 30684040LS4040LS 30684040LS4040LS 30684040LS4040LS 30684040LS4040LS 4040LS 3'-9"4'4'-2"4'-0 1/2"3'4'-6 1/2"3'-10"4'4'-1"4'-0 1/2"3'4'-6 1/2"3'-10"4'4'-1"4'-0 1/2"3'4'-6 1/2"3'-8"4'4'-3"4'-10"3'3'-9"4'-4"3'4'-6 1/2" 4'4'3'-11"4'-3"4'4'-1"3'7"1'-5"9'1'-5 1/2"1'-7"9'1'-7"4"3'3'-11 1/2"4'4'-4"4'4'4'-3"4'4'3'-11"4'-3"4'4'-4"3'4"1'-7"9'1'-7"4'4'3'-11"4'-3"4'4'-4"3'4"1'-7"9'1'-7" 11'-11"15'-11"12'-2"1"11'-11"15'-11"12'-2"1"11'-11"15'-11"12'-2"1"11'-11"15'-11"11'-10 1/2"12'-2"15'-7 1/2"12'-3" 3'-10"4'4'-1"4'-3"4'4'-3 3/4"3'4 1/4"1'-7"9'1'-7" 11'-11"15'-11"12'-2"1"11'-11"15'-11"12'-2"1"11'-11"15'-11"12'-2"1"11'-11"15'-11"11'-10 1/2"12'-2"15'-7 1/2"12'-3" 200'11 1/2"13'-2 1/2"4'12'-10"37'6'6'6'6'6'6'6'6'4'-3"4'4' 12'-3"4'-2"11'-9"11'-7"11'-10 1/2"12'-0 1/2"4'-2"11'-11"4 1/2"11'-7"12'-0 1/2"4'-2"11'-11"4 1/2"11'-7"12'-0 1/2"4'-2"11'-11"4 1/2"11'-7"11'-10 1/2"2 3/4"3'-9 1/4"4"11'-11" 200'12'-10"4'13'-2"30'6'6'6'6'6'6'6'6'11 1/2"15'-7" X 24'-0" 4598 SQ FT 11'-6" X 23'-8"11'-6" X 5'-4"11'-6" X 5'-4"11'-6" X 5'-5"8'-7" X 3'-8" 11'-7" X 12'-6"2'-7" X 3'-8"11'-7" X 12'-6"11'-7" X 12'-6" 11'-7" X 12'-6"3'-10" X 8'-7"8'-7" X 3'-7" 11'-5" X 5'-0"11'-6" X 5'-4"11'-7" X 12'-7" 11'-6" X 23'-8"3'-10" X 8'-6"11'-7" X 12'-6"2'-8" X 3'-8"11'-5" X 5'-0"11'-6" X 5'-4"11'-7" X 12'-7"3'-10" X 8'-6"2'-7" X 3'-7"11'-5" X 5'-0" 15'-7" X 24'-0" 8'-7" X 3'-7" 11'-7" X 12'-7" 15'-7" X 24'-0"2'-7" X 3'-7"3'-9" X 8'-6"11'-5" X 5'-1" 11'-6" X 23'-8" 15'-7" X 24'-0" 11'-7" X 12'-6" 11'-6" X 23'-8"11'-6" X 23'-8" 11'-5" X 5'-0" 15'-7" X 24'-0" 8'-7" X 3'-8" 11'-7" X 12'-6"3'-10" X 8'-3"8'-7" X 3'-8"2'-8" X 3'-8"JAXSON SUB 2 BR 5-PLEX GARAGE CLOSET BEDROOM PANTRY8' L Vinyl fence between patios.12' L x 12' Covered Patios Hydrant Pet Anchor Hydrant 1' Water meter room Water Service FD UTIL. RM.KITCHEN/LIV. RM. BEDROOM CLOSET PANTRYKITCHEN/LIV. RM. GARAGE BEDROOM CLOSET PANTRYKITCHEN/LIV. RM. GARAGE BEDROOM CLOSET PANTRYKITCHEN/LIV. RM. GARAGE GARAGE BATH CLOSETBEDROOM BEDROOMPANTRYCLOSET KITCHEN/LIV. RM. Water Service FD FD Water Service Water Service Water Service FD FD BATH CLOSETBEDROOM BATH CLOSETBEDROOM BATH CLOSETBEDROOM BATH CLOSETBEDROOM UTILITYUTILITYUTILITYUTILITYHydrant Hydrant Hydrant Hydrant 2 HR FIREWALL TO ROOF 4' OUT EA. ROOF SIDE 2 HR FIREWALL TO ROOF 4' OUT EA. ROOF SIDE 2 HR FIREWALL TO ROOF 4' OUT EA. ROOF SIDE 12' L x 12' Covered Patios 12' L x 12' Covered Patios 12' L x 12' Covered Patios Pet Anchor Pet Anchor Pet Anchor Pet AnchorHydrantHydrantHydrant Hydrant Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 93 / 139 SB36SB36SB36SB30SB30SB30DCB36RProfessional DishwasherSB36B24RB24R DCB36LProfessional DishwasherSB36B24LB24L DCB36RProfessional DishwasherSB36B24RB24RSB36SB36SB36SB30SB30SB30DCB36RProfessional DishwasherSB36B24RB24R DCB36LProfessional DishwasherSB36B24LB24L DCB36RProfessional DishwasherSB36B24RB24RWHWHWH DCW2430LW2430L W3012 W1230L W3630W3630W2430LW3612DCW2430R W2430RW3012W1230RW3630W3630W2430RW3612 DCW2430R W2430RW3012W1230RW3630W3630W2430RW36124040LS4040LS 30684040LS4040LS 90709070 306830683068 306830683068 30689070 4040LS4040LS3068 4040LS 4040LS 30683068 4040LS4040LS3068 4040LS 4040LS 3068 3068 3068 2668 26682668306830682668 30683068306826682668 3068 306830682668 306830683068 26682668306830683068 WP EPEPEP CO/SD CO/SD CO/SD SDSD SD SDSD SD SDSD SD C5/TV C5/TV C5/TVC5/TV C5/TV C5/TV C5/TVC5/TVC5/TV C5/TV C5/TV C5/TV WP WP WP WPWP 4'-1"4'4'-1"4'-2"4'4'-0 1/16"4'-1 1/2"3'4'-10 1/2"4'-10 1/2"3'3'-10"4'-0 1/4"4'4'4'-1"4'4'-1"3'-10"3'4'-6 1/2"4'-6 1/2"3'3'-10"4'-1"4'4'-1"4'4'4'-0 1/4"3'-10"3'4'-10 1/2"4'-10 1/2"3'4'-1 1/2"3'-10"3'4'-10 1/2"4'-10 1/2"3'4'-1 1/2"6'5'-11"6'6'6'6'5'-11"6'6'6'6'6'5'-11"6'6'6'6'12'-2 1/16"12'-2"5'-4"5'-6 1/2"11'-8 1/2"11'-8 1/2"5'-6 1/2"5'-4"12'-2"12'-5 7/16"11'-6 1/16"5'-6 1/2"5'-4 1/2"12'-2"11'-11 7/16" 11'-5 1/16"23'-6"12'12'23'-6"11'-3 1/4"6 3/4"11'-8"23'-6"11'-6 15/16" 141' 4'-0 7/16"4'4'-3"4'-1"4'4'-1"30'6'5'-11"6'6'36'6'6'6'6'5'-0" X 7'-9" 10'-11" X 11'-9" 11'-7" X 12'-2" 11'-6" X 23'-8"11'-6" X 23'-8" 23'-3" X 16'-10"11'-6" X 5'-4"11'-6" X 5'-4"23'-3" X 16'-9"23'-3" X 16'-8" 10'-11" X 11'-10"5'-0" X 9'-11"11'-3" X 23'-8" 11'-10" X 12'-2" 11'-3" X 5'-3" 11'-8" X 12'-2"5'-0" X 7'-10"5'-0" X 8'-4"5'-0" X 4'-0" 11'-10" X 12'-2" 11'-10" X 12'-2"5'-0" X 7'-10"5'-0" X 4'-0" 11'-8" X 12'-2" 3374 SQ FT 5'-0" X 4'-1"5'-0" X 8'-6"10'-11" X 11'-9" BEDROOM 3 KITCHEN/LIV. RM. MASTER BDRMBATH GARAGEGARAGE UTILITYUTILITYBEDROOM 3 BEDROOM 2MASTER BDRM MAST. BATHMAST. CLOSET BATHKITCHEN/LIV. RM. MASTER BDRM BATHMAST. BATHMAST. CLOSET BEDROOM 2 BEDROOM 3 KITCHEN/LIV. RM. WATER SERVICE FD WATER SERVICE WATER SERVICE FDFD HEADER TO EXTERIOR SIDE WALL ATTIC ACCESS 22 X 30 ATTIC ACCESS 22 X 30 ATTIC ACCESS 22 X 30 HEADER TO EXTERIOR SIDE WALLHEADER TO EXTERIOR SIDE WALL FENCE BETWEEN UNITS 12 X 12 HALF-COVERED PATIOS HYDRANTS HYDRANTSHYDRANTS HYDRANTSHYDRANTS HYDRANTS DRAFT STOP TO ROOF 1/2" OSB JAXSON SUB. 3BR 2BA 3PLEX W/ UTILITY/GARAGE COUNTED IN SQFT. MAST. BATH GARAGE UTILITY MAST. BATH BEDROOM 2 2 HR FIREWALL TO ROOF 4' OUT EA. ROOF SIDE Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 94 / 139 SB30SB36Dishwasher 2SB36B24RSB30SB36Dishwasher 2SB36B24RSB30SB36DCB36R B24RDishwasher 2SB36B24RSB36SB36SB30SB30DCB36R B24RDishwasher 2SB36B24RDCB36R B24RDishwasher 2SB36B24RDCB36R B24R DCB36LB24L SB30SB36Dishwasher 2SB36B24RSB30SB36Dishwasher 2SB36B24RSB30SB36DCB36R B24RDishwasher 2SB36B24RSB36SB36SB30SB30DCB36R B24RDishwasher 2SB36B24RDCB36R B24RDishwasher 2SB36B24RDCB36R B24R DCB36LB24L WHWH WHWH WH W3630W3618W2430RW3612W3630W3618W2430RW3612DCW2430RW1230R W2430RW3630W3618W2430RW3012W3612 W1230R W2430RW3630W3618W2430RW3012W3612DCW2430R DCW2430RW1230R W2430RW3630W3618W2430RW3012W3612DCW2430RW2430RW3012DCW2430LW1230LW2430LW301226682668 30684040LS4040LS 30689070 30683068 3068 30683068 3068 3068 2668 30683068 3068 2668 266826683068 3068 3068 306830683068 3068 3068 3068 3068 3068 3068 2668 3068266826683068 30683068 4040LS4040LS3068 3068 3068 306826682668 30683068 2668 30684040LS 4040LS 4040LS4040LS306830683068 306830683068266826682668 3068 30683068 4040LS4040LS3068 90709070 4040LS4040LS3068 4040LS 4040LS 9070 4040LS 4040LS 4040LS 4040LS 4040LS 4040LS 9070 3068 3068 3068 3068 3068 CO/SD CO/SD EP SDSD SD SDSD SD C5/TV C5/TV C5/TV C5/TV C5/TV C5/TV C5/TV SD SD SD SD 4'-1"4'2'-1 5/8"9"3'3"2'-2 3/8"4'4'3'-10 1/8"3'4'-10 3/8"4'-10 5/8"3'3'-9 7/8"3'-11 1/2"4'3'-11"4'-1"4'4'-1"4'-0 1/8"3'4'-6 5/8"3'-11"4'3'-11 3/4"4'-1"4'4'-1"4'-0 3/8"3'4'-6 3/8"3'-10 1/2"4'4'4'-1"4'4'-1"3'-11 3/8"3'4'-7 3/8" 1'-6 3/4"9'1'-7"8'-2"3'4'-2"4'4'-2"3'-9"4'3'-8 3/4"1'-6 7/8"9'1'-6 7/8"8'-2"3'4'-2"4'4'-2"3'-6"4'3'-9 1/4"1'-6 3/4"9'1'-7"8'-2"3'4'-2"4'4'-2"3'-6"4'3'-7 3/4"12'-4"1'-6"9'1'-6"1'-6"9'1'-6"8'-2"3'4'-2"4'4'-2"4'-0 3/8"4'3'-2 7/8" 3 1/2"11'-8 1/2"12'23'-6"11'-4 1/4"12'-1 3/4"23'-6"11'-4 1/2"12'-1 3/4"23'-6"11'-4 1/4"12'-1 3/4"23'-6"11'-5 3/4" 235' 4'4'3'-6"4'-2"4'4'-2"3'8'-2" 11'-6"23'-6"11 1/2"12'-8 1/2"2'-6"2'-6"12'-4 1/2"31'-01/2"6'-4"6'-6"6'-9"18'-11 1/2"6'-2 1/2"6'-2"6'-1 1/2"18'-10 1/4"4'-0 3/4"4'4'-2"4'-1"4'4'-1" 12'-2 3/4"12'-2"5'-4"5'-6 1/2"11'-6 3/4"12'-4 3/4"12'-2"5'-4"5'-6 1/2"11'-6 3/4"12'-5"12'-2"5'-4"5'-6 1/2"11'-6 3/4"12'-4 3/4"12'-2"5'-4"5'-6 1/2"11'-8 1/2"11'-8 1/2"5'-6 1/2"5'-4"10'-2 5/8"4'10'-2 3/8" 235' 3 1/2"12'-4"2'-6"2'-6"12'-8"37'-71/2"6'-6"12'-6"11'-8"6'-0 1/2"6'-0 1/2"6'-4 1/2"6'-5 1/2"12'-4 1/4"6'-10"6'-2"6'-4 1/2"11 1/2"11'-0" X 11'-10" 5683 SQ FT 11'-6" X 23'-8" 23'-3" X 16'-10"23'-3" X 17'-0" 5'-0" X 4'-2"5'-0" X 7'-10"11'-6" X 23'-7" 11'-10" X 12'-4"11'-10" X 12'-4"11'-10" X 12'-3" 11'-1" X 12'-0"5'-0" X 7'-10"5'-4" X 2'-2" 5'-0" X 4'-1" 11'-10" X 12'-3" 11'-6" X 23'-8" 5'-4" X 2'-2" 23'-3" X 17'-0" 11'-1" X 12'-0" 11'-10" X 12'-1"5'-0" X 7'-9"5'-0" X 3'-11" 11'-10" X 12'-1" 11'-6" X 23'-8"11'-6" X 5'-4"11'-6" X 23'-8"11'-6" X 5'-4"11'-9" X 12'-2"5'-0" X 7'-10"5'-0" X 4'-0" 23'-3" X 17'-1" 5'-4" X 2'-2" 11'-10" X 12'-2" 11'-1" X 12'-2" 11'-10" X 12'-2" 23'-3" X 16'-10"5'-0" X 8'-10"11'-6" X 5'-4"5'-0" X 10'-0"11'-9" X 12'-2" 11'-0" X 11'-10"11'-6" X 5'-4"5'-0" X 2'-2" 5'-0" X 4'-0"5'-0" X 7'-10"JAXSON SUB 3BR 5-PLEX GARAGE GARAGE CLOSETMAST. BATH2 ROW 3' & 6'1 ROW 68"H1 Row 68" H Water ServiceBATHMASTER BDRMBEDROOM 2 Water Service HYDRANT HYDRANTHYDRANT HYDRANT FDFD ATTIC ACCESS 22" X 30" ATTIC ACCESS 22" X 30"MAST. BATHMAST. CLOSET GARAGE Water Service FD ATTIC ACCESS 22" X 30" HYDRANT HYDRANT MAST BATH1' D x 4'W water room Check meter Depth 8' L Vinyl Fence Dog Anchor 12' L x 12' W Covered Patios CLOSET GARAGE KITCHEN/LIV . RM. BEDROOM 3 BEDROOM 2MASTER BDRM DRAFT STOP TO ROOF 1/2" OSB 2 HR FIREWALL TO ROOF 4' OUT EA. ROOF SIDE 2 HR FIREWALL TO ROOF 4' OUT EA. ROOF SIDE 2 HR FIREWALL TO ROOF 4' OUT EA. ROOF SIDEMAST BATHCLOSET BATHMAST CLOSET MAST BATHCLOSET Water Service Water Service FD FD HYDRANT HYDRANT HYDRANT HYDRANT ATTIC ACCESS 22" X 30" ATTIC ACCESS 22" X 30" KITCHEN/LIV. RM BEDROOM 3BEDROOM 3 KITCHEN/LIV. RM BEDROOM 3 KITCHEN/LIV. RMKITCHEN/LIV. RM BEDROOM 3 GARAGEUTILITYUTILITYMAST. CLOSET MASTER BDRM BEDROOM 2 MASTER BDRM BEDROOM 2 MAST. CLOSET UTILITYUTILITYMAST. CLOSET MASTER BDRM BEDROOM 2 12' L x 12' W Covered Patios 12' L x 12' W Covered Patios 12' L x 12' W Covered Patios HYDRANT HYDRANT HYDRANT HYDRANT Dog Anchor Dog Anchor Dog Anchor Dog Anchor Exhibit A Grand Island Regular Meeting - 9/8/2021 Page 95 / 139 Grand IslandRegular Meeting - 9/8/2021Page 96 / 139 3MJR, LLC Project Cost Summary TIF Phase #1 Phase #2 Phase #3 Phase #4 Phase #5 Phase #6 Qualified (Q) Description Amount Amount Amount Amount Amount Amount Total Non-Qualified (NQ) TIF non-qualified building construction costs 3,486,057 3,200,241 3,809,309 3,923,588 4,287,411 4,416,034 23,122,640 NQ TIF qualified sitework 265,594 308,894 341,286 352,802 389,473 402,438 2,060,487 Q Landscaping 78,080 80,422 85,320 87,880 96,029 98,909 526,640 NQ Fencing 9,440 9,723 10,315 10,625 11,610 11,959 63,672 NQ TIF qualified concrete 274,839 321,396 355,310 367,139 404,780 418,082 2,141,546 Q TIF qualified concrete - Potash Trail 14,568 14,569 14,569 14,569 14,569 14,569 87,413 Q TIF non-qualified concrete 236,688 243,788 258,635 266,395 291,097 299,829 1,596,432 NQ Subtotal 526,095 579,753 628,514 648,103 710,446 732,480 3,825,391 Signage 1,667 1,717 1,821 1,876 2,050 2,110 11,241 NQ TIF qualified plumbing 317,767 369,573 408,328 422,107 465,981 481,495 2,465,251 Q TIF qualified electrical 75,964 88,348 97,613 100,906 111,395 115,103 589,329 Q Total project costs per construction pro-forma 4,760,664 4,638,671 5,382,506 5,547,887 6,074,395 6,260,528 32,664,651 Other costs: Land 130,145 130,145 130,145 130,145 130,145 130,145 780,870 Q Financing 227,019 214,597 248,069 255,511 279,204 287,580 1,511,980 NQ Professional Fees 154,048 154,048 Q Total project costs 5,271,876 4,983,413 5,760,720 5,933,543 6,483,744 6,678,253 35,111,549 Total TIF qualified costs (Q)1,232,925 1,232,925 1,347,251 1,387,668 1,516,343 1,561,832 8,278,944 Total TIF non-qualified costs (NQ)4,038,951 3,750,488 4,413,469 4,545,875 4,967,401 5,116,421 26,832,605 Total project costs 5,271,876 4,983,413 5,760,720 5,933,543 6,483,744 6,678,253 35,111,549 All subsequent phased cost increase percentage 3%3%3%3%3%3% Exhibit C Grand Island Regular Meeting - 9/8/2021 Page 97 / 139 Exhibit D Annual Income & Expense Pro Forma Grand Island Regular Meeting - 9/8/2021 Page 98 / 139 Grand Island Regular Meeting - 9/8/2021 Page 99 / 139 Grand Island Regular Meeting - 9/8/2021 Page 100 / 139 Grand Island Regular Meeting - 9/8/2021 Page 101 / 139 Grand Island Regular Meeting - 9/8/2021 Page 102 / 139 Grand Island Regular Meeting - 9/8/2021 Page 103 / 139 Grand Island Regular Meeting - 9/8/2021 Page 104 / 139 Grand Island Regular Meeting - 9/8/2021 Page 105 / 139 3MJR, LLC Tax Increment Financing Application Capitalization Rate Analysis With Tax Without Tax Increment Financing Increment Financing Net operating income 365,374 279,400 Divided by fair market value 4,480,000 4,480,000 Equals capitalization rate 8.16% 6.24% Exhibit E Grand Island Regular Meeting - 9/8/2021 Page 106 / 139 Grand Island Regular Meeting - 9/8/2021 Page 107 / 139 3MJR, LLC Jaxson Area 32 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 362 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 8th day of September, 2021 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By___________________________ Chairperson ATTEST: __________________________ Secretary Grand Island Regular Meeting - 9/8/2021 Page 108 / 139 3MJR, LLC Jaxson Area 32 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 363 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 3MJR, LLC, (The "Developer") for redevelopment of property proposed for platting as Jaxson Subdivision located west of North Road and south of Old Potash Highway, 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 5; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: Section 1. In compliance with section 18-2114 of the Act, the Authority hereby gives the governing body of the City notice that it intends to enter into the Redevelopment Contract, attached as Exhibit 1, with such changes as are deemed appropriate by the Authority, after approval of the redevelopment plan amendment related to the redevelopment project described in the Redevelopment Contract, and after the passage of 30 days from the date hereof. Section 2. The Secretary of the Authority is directed to file a copy of this resolution with the City Clerk of the City of Grand Island, forthwith. Passed and approved this 8th day of September, 2021. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By ___________________________ Chairperson ATTEST: ___________________ Secretary Grand Island Regular Meeting - 9/8/2021 Page 109 / 139 3MJR, LLC Jaxson Area 32 Exhibit 1 Legal Description: Part of the NE ¼ of the NE ¼ of 23-11-10 (26 acres) in Hall County Nebraska (Parcel 400200929) proposed for platting as Jaxson Subdivision, in the City of Grand Island, Hall County, Nebraska. Grand Island Regular Meeting - 9/8/2021 Page 110 / 139 Community Redevelopment Authority (CRA) Wednesday, September 8, 2021 Regular Meeting Item I3 Redevelopment Plan Amendment for CRA Area #33 - Innate Development 2, LLC Staff Contact: Grand Island Regular Meeting - 9/8/2021 Page 111 / 139 Redevelopment Plan Amendment Grand Island CRA Area 33 August 2021 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 33 with in the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific infrastructure related project in Area 33. Executive Summary: Project Description THE REDEVELOPMENT APPROXIMATELY 200 ACRES OF PROPERTY LOCATED WEST OF PRAIRIEVIEW STREET AND NORTH OF HUSKER HIGHWAY IN SOUTHWESTST GRAND ISLAND FOR THE DEVELOPMENT OF A WALKABLE MIXED USE COMMUNITY (DETACHED SINGLE FAMILY RESIDENTIAL, ATTACHED SINGLE FAMILY RESIDENTIAL, MULTIFAMILY RESDENTIAL, NEIGHBORHOOD SCALE COMMERICAL, AND RECREATIONAL USES) WHILE PROTECTING PRESERVING AND ENHANCING THE NATURAL WETLANDS ON THE PROPERTY. THIS WILL BE A MULTI-PHASE DEVELOPMENT WITH A REDEVELOPEMENT PLAN AMENDMENT FOR EACH PHASE OF THE DEVELOPMENT TO BE APPROVED SEPARATELY. This plan is intended as a general development plan for the entire 200 acre tract included in the legal description below. It is also the site specific redevelopment plan for the first phase (Husker Highway 2022) of this project at the southeast corner of this this property that includes multifamily residential, attached single family residential, neighborhood scale commercial development significant portions of the storm water and drainage infrastructure to support the full development. Amenities for the neighborhood and community including hike bike trail extensions and green space will also be a part of the Husker Highway 2022 phase of this development. The use of Tax Increment Financing to aid in redevelopment expenses associated with platting and installing the necessary infrastructure (streets, sanitary sewer, water, and storm sewer) for the development of a club house and 140 one and two bedroom apartments in 10 unit buildings, 33 attached single family homes (2 and 3 bedroom townhomes) and 8 two story commercial buildings with 2000 square feet on each floor in the Husker Highway 2022 phase. The use of Tax Increment Financing is an integral part of the development plan and necessary to make this project feasible as presented. The proposed development does not maximize the number of units that can be built on the property but maximize the livability of the neighborhood by creating a walkable neighborhood with a mix of housing types and recreation features scattered throughout the development. It is anticipated that the Husker Highway 2022 phase of this development will take up to 5 years to complete and that the next phase will begin as the last of this one is being developed. It is unlikely that full development of this site will be Grand Island Regular Meeting - 9/8/2021 Page 112 / 139 done in less than 15 years and could easily extend to 30 or more years based on the history of large developments in Grand Island. Innate Development 2, LLC has an option to purchase the full 200 acres upon approval of the Husker Highway 2022 phase of this project. This is property has an old farm house and farm buildings, wetlands and crop ground. The property was annexed in 2011 and has not had any development prospects make application for development since its annexation. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with this project. The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated over multiple 15 year periods beginning January 1, 2023 towards the allowable costs and associated financing for redevelopment of this property. TAX INCREMENT FINANCING TO PAY FOR THE REDEVELOPMENT OF THE PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY: Property Description (the “Redevelopment Project Area”) Legal Descriptions: The SE ¼ of the NW ¼ and the E ½ of the SW ¼ and the W ½ of the SE ¼ of 25-11-10 (Parcels 400201089 and 400201097) in the City of Grand Island, Hall County, Nebraska. Grand Island Regular Meeting - 9/8/2021 Page 113 / 139 Existing Land Use and Subject Property Grand Island Regular Meeting - 9/8/2021 Page 114 / 139 The tax increment on Husker Highway 2022 will be captured for the tax years the payments for which become delinquent in years 2023 through 2044 inclusive. The TIF contract will be structured so it can be amended each year for up to five years to add the buildings to be completed during that year. No single building will be eligible for TIF for a period of more than 15 years. 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 development of the property for a mix of residential and commercial uses in the project area to be permitted as the project progresses. Statutory Pledge of Taxes. In accordance with Section 18-2147 of the Act and the terms of the Resolution providing for the issuance of the TIF Note, the Authority hereby provides that any ad valorem tax on the Redevelopment Project Area for the benefit of any public body be divided for a period of fifteen years after the effective date of this provision as set forth in the Redevelopment Contract, consistent with this Redevelopment Plan. This plan anticipate that the whole 200 acre project will be developed in several phases with a redevelopment plan amendment specific to each phase of the development. The first phase is included with this general plan and referred to as Husker Highway 2022. The Husker Highway 2022 plan anticipates that buildings constructed each year of the development will constitute new effective date for the purposes of determining the period of fifteen years. Improvements for the overall development may be constructed prior to the development of later phases and eligible expenses from those improvements not covered by early phases may be applied to later phases for reimbursement by TIF funds generated in the later phases. 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 Grand Island Regular Meeting - 9/8/2021 Page 115 / 139 whole or in part, the redevelopment project, including the payment of the principal of, premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness. Redevelopment Plan Amendment Complies with the Act: The Community Development Law requires that a Redevelopment Plan and Project consider and comply with a number of requirements. This Plan Amendment meets the statutory qualifications as set forth below. 1. The Redevelopment Project Area has been declared blighted and substandard by action of the Grand Island City Council on August 26, 2021.[§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. It is anticipated that changes to future land use map in the Grand Island Comprehensive Plan will be necessary to accommodate this development as anticipated. Those changes should be considered with the approval of each site specific development plan or with a complete update to the comprehensive plan. The initial phase of this project including the multifamily and attached single family residential units is consistent with the planned development of housing at up to 14 units per acre. The neighborhood commercial was not anticipated for the particular area but is consistent with the level of service of Husker Highway and the commercial properties developing to the east of this site. The Hall County Regional Planning Commission held a public hearing at their meeting on October 6, 2021 and passed Resolution 2022-02 confirming that this project is consistent with the intent of the Comprehensive Plan for the City of Grand Island, supporting this project and necessary changes to the plan for the development as planned. The Grand Island Public School District has submitted a formal request to the Grand Island CRA to notify the District any time a TIF project involving a housing subdivision and/or apartment complex is proposed within the District. The school district was notified of this plan amendment prior to it being submitted to the CRA for initial consideration. 3. The Redevelopment Plan must be sufficiently complete to address the following items: [§18-2103(13) (b)] a. Land Acquisition: This Redevelopment Plan for Area 33 provides for real property acquisition and this plan amendment does not prohibit such acquisition. There is no proposed acquisition by the authority. Grand Island Regular Meeting - 9/8/2021 Page 116 / 139 b. Demolition and Removal of Structures: The project to be implemented with this plan does not provide for the demolition and removal any structures on this property. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. All of the area around the site in private ownership is planned for low to medium density residential development at the south end and manufacturing in the northwest corner. It is anticipated that changes to the plan will be made to accommodate and support this development as proposed. This property is in private ownership. [§18-2103(b) and §18-2111] The attached map also is an accurate site plan of the area as proposed after redevelopment with 278 single family detached lots, 25 duplex lots, 53 townhouse/condo lots, 300 units of apartments and 6.3 acres of retail and 9 acres of light industrial backing on to the industrial property to the north.. [§18-2111(5)] d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned R-2 Low Density Residential zone and M-1 Light Manufacturing Zone. The property has historically been farmed a permitted use in both of those districts. The plan for a mixed use neighborhood at this location will require a mix of zoning changes. New streets and storm drainage are planned throughout the site as part of the development in a manner consistent with the existing development. It is anticipated that TIF revenues will offset the costs of those improvements and that some of these Grand Island Regular Meeting - 9/8/2021 Page 117 / 139 improvements may be build. No changes are anticipated in building codes or ordinances. [§18-2103(b) and §18-2111] e. Site Coverage and Intensity of Use The proposed development will meet the coverage and intensity of use requirements for each phase of the development as it is approved. The overall planned density of the project is less than would be permitted with no changes. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities Sanitary sewer and water are available to support this development. Both sanitary sewer and water will need to be extended throughout the site. TIF revenues will be used to offset the cost of these public utility improvements. Electric utilities are sufficient for the proposed use of this property. Electric line will need to be extended throughout the property. No other publicly owned utilities would be impacted by the development. §18-2103(b) and §18-2111] Grand Island Regular Meeting - 9/8/2021 Page 118 / 139 City of Grand Island Future Land Use Map Grand Island Regular Meeting - 9/8/2021 Page 119 / 139 Proposed Development Plan for the 200 acre site with genaral use types and amenenities with the 27.83 acres Husker Highway 2022 project highlighted Grand Island Regular Meeting - 9/8/2021 Page 120 / 139 Proposed layout for Husker Highway 2022 Phase of the Proposed Development 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. This property is vacant and no relocation is contemplated or necessary. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA have any interest in this property. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer is proposing to purchase the property for $3,000,000, this is an eligible expense for the overall project but $480,000 of this is being attributed to the Husker Highway 2022 phase the remainder will be attributed to future phases. For the Husker Highway 2022 phase the estimated costs of grading, streets, trails, sanitary sewer, water and storm sewer is $8,370,000. Total costs for parks, and right of way landscaping $2,530,226. It is anticipated that planning activities including design, engineering and architecture for the site will exceed $2,700,000 and need to be included in Husker Highway 2022 project costs. Other eligible activities including government fees and expenses (building permits included) and legal and contract expenses are expected to be $300,000. The total of the eligible expenses for this project is estimated by the developer at $16,950,226. Grand Island Regular Meeting - 9/8/2021 Page 121 / 139 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 Husker Highway 2022 project by granting the sum of $14,430,226 from the proceeds of the TIF. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2023 through December 2044. 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. This amendment, in and of itself will promote consistency with the Comprehensive Plan. This will have the intended result of preventing recurring elements of unsafe buildings and blighting conditions. This will accomplish the goal of increasing the number of residential units, commercial development and recreational opportunities within the City of Grand Island and encouraging infill development. 8. Time Frame for Development Development of this project is anticipated to begin in the 2022 year. The Husker Highway 2022 phase will likely be built over a five year period between 2022 and 2026 based on market demand. Excess valuation should be available for the Husker Highway 2022 project for 15 years beginning with the 2023 tax year. Additional phases of development are anticipated for the remainder of the project beginning near the Grand Island Regular Meeting - 9/8/2021 Page 122 / 139 completion of the Husker Highway 2022 phase. It is anticipated that the developers will be including TIF in the capital stack of future phases but each future phase will evaluated with a site specific redevelopment plan prior to contract approval. 9. Justification of Project The 2020 housing study for the City of Grand Island projected that by 2024 we would need an additional 1361 new housing units. Between January 1 of 2020 and July of 2021 permits for 305 new housing units had been issued leaving a need for more than 1000 additional units in the next 3 years to meet the anticipated need. The current housing market, a combination of the cost of producing housing and the prevailing wages, has not created a situation that gives the markets sufficient incentive to build the number housing units required to meet community needs. This lack of housing options impacts a variety of other areas within the community including work force development, overcrowding, maintenance of residential units and rents. 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. (2019), the City of Grand Island has analyzed the costs and benefits of the proposed Redevelopment Project, including: Project Sources and Uses. Approximately $14,430,226 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 $46,780,250 in private sector financing; a private investment of $3.24 for every TIF and grant dollar investment. Grand Island Regular Meeting - 9/8/2021 Page 123 / 139 Use of Funds. Source of Funds Description TIF Funds Private Funds Total Site Acquisition $480,000 $2,520,000 $3,000,000 Building Costs $44,210,250 $44,210,250 Sewer $645,000 $645,000 Water $305,000 $305,000 Electric $320,000 $320,000 Gas $100,000 $100,000 Public Streets/Sidewalks $4,900,000 $4,900,000 Trails $300,000 $300,000 Site preparation/Dirt Work $1,800,000 $1,800,000 Architecture/Engineering $2,700,000 $2,700,000 Financing Fees / Audit $50,000 $50,000 $100,000 Legal/TIF Contract $100,000 $100,000 other (ROW Landcaping/Parks) $2,530,226 $2,530,226 Govt. Fees and Expenses $200,000 $200,000 Total $14,430,226 $46,780,250 $61,210,476 Tax Revenue. The 27.83 acres of this site to be redeveloped as Husker Highway 2022 is anticipated to have a January 1, 2022, valuation of approximately $80,828 based on the per acre valuation of the current parcel. Based on the 2020 levy this would result in a real property tax of approximately $1,759. It is anticipated that the assessed value will increase by $44,210,250 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $960,000 annually. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for the period of the bonds, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2022 assessed value (27.83 acres): $ 80,828 Estimated value after completion $ 44,291,000 Increment value $ 44,210,000 Annual TIF generated (estimated) $ 962,000 TIF bond issue $ 14,430,226 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $80,828. The proposed redevelopment will create additional valuation of $44,210,000 over the course Grand Island Regular Meeting - 9/8/2021 Page 124 / 139 of the next five years. The project creates additional valuation that will support taxing entities long after the project is paid off along with providing 173 additional housing units, neighborhood commercial space and recreational trail connections and opportunities. (b) Public infrastructure and community public service needs impacts and local tax impacts arising from the approval of the redevelopment project; Existing water and waste water facilities will not be negatively impacted by this development. The electric utility has sufficient capacity to support the development. This is infill development with services connecting to existing line with capacity. This development is likely to result in a larger number of students in the Gates Elementary School service area. Fire and police protection are available and should not be negatively impacted by this development though there will be some increased need for officers and fire fighters as the City continues to grow whether from this project or others. Housing of the type proposed in Husker Highway 2022 (1 and 2 bedroom apartments and 2 bedroom townhomes) is less likely to attract families to the neighborhood than the single family detached housing proposed for later phases of this project. Overall there will be a net increase in the number of students attending the Grand Island Public School system as a result of this development. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; This will provide additional housing options for the residents of Grand Island. The National Homebuilders Association estimates that each new single family home is the equivalent of 2.5 full time equivalent jobs and each unit of multifamily housing results in an FTE of 1.16 job. An average of 28 apartments and 7 townhomes would produce about 48 FTE’s per year for the next 5 years. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project will not have a negative impact on other employers different from any other expanding business within the Grand Island area. Grand Island does have tight labor market and part of that is due to the availability and cost of housing. This development may help alleviate some of those pressures. Grand Island Regular Meeting - 9/8/2021 Page 125 / 139 (e) Impacts on student populations of school districts within the City or Village: This development will have an impact on the Grand Island School system and will likely result in additional students at both the elementary and secondary school levels. The average number of persons per household in Grand Island for 2015 to 2019 according the American Community Survey is 2.61. 173 additional households would house 452 people. According to the 2010 census 19.2% of the population of Grand Island was over 4 years old and under 18 years old. 2020 census number for this population cohort are not yet available but 27.6% of the 2021 population is less than 18 years of age this is the same percentage as the under 18 age cohort in 2010. If the averages hold it would be expected that there would be an additional 87 school age children generated by this development. Given the nature of the units (140- 1 and 2 bedroom apartments and 33 townhomes) proposed for Husker Highway 2022 these numbers are likely to be significantly less than for detached single family development. If this develops at a rate of 35 unit per year for 5 years approximately 16 children could be added to the school age population every year with this development. These 16 children will likely be spread over the full school age population from elementary to secondary school. According to the National Center for Educational Statistics1 the 2019-20 enrollment for GIPS was 10,070 students and the cost per student in 2017-18 was $12,351 of that $4,653 is generated locally. The Grand Island Public School System was notified on August 24, 2021 that the CRA would be considering this application at their September 8, 2021 meeting. (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 is consistent the goals of the 2020 Housing Study for the City of Grand Island to create more than 1300 new dwelling units by 2024. Based on the permits between January of 2020 and July of 2021 more than 1000 units still need to be built before the end of 2024 to meet the projected need. The local housing market is not capable of producing the number of units needed at market rate given the costs of building and development. Time Frame for Development Development of the Husker Highway 2022 project is anticipated to be completed during between the Spring of 2022 and the end of 2026. The base tax year should be calculated on the value of the property as of January 1, 2022 for the first phase with each phase based on the preceding year’s valuation of the property included in the amendment for that year. Excess valuation should be available for this project beginning in 2023 with taxes due in 2024. 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 on each property or an amount not to exceed $14,430,226 the projected amount 1 https://nces.ed.gov/ccd/districtsearch/district_detail.asp?ID2=3100016 Grand Island Regular Meeting - 9/8/2021 Page 126 / 139 of increment based upon the anticipated value of the project and current tax rate. Based on the estimates of the expenses, the developer will spend at least $14,430,226 on TIF eligible activities. It is anticipated that full development of the 200 acre site will take a minimum of 15 years thought it could take as long as 30 or more based on average development in Grand Island. Each additional project will be brought forward as an amendment to this plan. Grand Island Regular Meeting - 9/8/2021 Page 127 / 139 Form Updated 7-25-2019cn Page | 1 BACKGROUND INFORMATION RELATIVE TO TAX INCREMENT FINANCING REQUEST Project Redeveloper Information Business Name: ______________________________________________________________ Address: _______________________________________________________________ Telephone No.: __________________________ Fax No.: _______________ Email: _________________________________________________________ Contact: _______________________________________________________________ Application Submission Date: Brief Description of Applicant’s Business:__ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________ Legal Description/Address of Proposed Project Community Redevelopment Area Number ________ Grand Island Regular Meeting - 9/8/2021 Page 128 / 139 Form Updated 7-25-2019cn Page | 2 Present Ownership Proposed Project Site: ________________________________________________________________ _____________________________________ Is purchase of the site contingent on Tax Increment Financing Approval? Yes No Proposed Project: Building square footage, size of property, description of buildings – materials, etc. Please attach site plan, if available. ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________ If Property is to be Subdivided, Show Division Planned: VI. Estimated Project Costs: Acquisition Costs: A. Land $ ______________ B. Building $ ______________ Construction Costs: A. Renovation or Building Costs: $ ______________ B. On-Site Improvements: Sewer $ ______________ Water $ ______________ Electric $ ______________ Gas $ ______________ Public Streets/Sidewalks $ ______________ Grand Island Regular Meeting - 9/8/2021 Page 129 / 139 Form Updated 7-25-2019cn Page | 3 Private Streets $ ______________ Trails $ ______________ Grading/Dirtwork/Fill $ ______________ Demolition $ ______________ Other $ ______________ Total $ ______________ Soft Costs: A. Architectural & Engineering Fees: $ ______________ B. Financing Fees: $ ______________ C. Legal $ ______________ D. Developer Fees: $ ______________ E. Audit Fees $ ______________ F. Contingency Reserves: $ ______________ G. Other (Please Specify) $ ______________ TOTAL $ ______________ Total Estimated Market Value at Completion: $ Source for Estimated Market Value________________________________________ Source of Financing: A. Developer Equity: $ ______________ B. Commercial Bank Loan: $ ______________ C. Tax Credits: 1. N.I.F.A. $ ______________ 2. Historic Tax Credits $ ______________ 3. New Market Tax Credits $ ______________ 4. Opportunity Zone $ ______________ D. Industrial Revenue Bonds: $ ______________ E. Tax Increment Assistance: $ ______________ F. Enhanced Employment Area $ ______________ Grand Island Regular Meeting - 9/8/2021 Page 130 / 139 Form Updated 7-25-2019cn Page | 4 G. Nebraska Housing Trust Fund $ ______________ H. Other $ ______________ Name, Address, Phone & Fax Numbers of Architect, Engineer and General Contractor: _______________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Estimated Real Estate Taxes on Project Site Upon Completion of Project: (Please Show Calculations) ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Project Construction Schedule: Construction Start Date: _________________________________________________ Construction Completion Date: ___________________________________________ If Phased Project: _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete Grand Island Regular Meeting - 9/8/2021 Page 131 / 139 Form Updated 7-25-2019cn Page | 5 XII. Please Attach Construction Pro Forma XIII. 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: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ______________________________________________________________ Statement Identifying Financial Gap and Necessity for use of Tax Increment Financing for Proposed Project: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ Grand Island Regular Meeting - 9/8/2021 Page 132 / 139 Form Updated 7-25-2019cn Page | 6 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: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________ Post Office Box 1968 Grand Island, Nebraska 68802-1968 Phone: 308 385-5240 Fax: 308 385-5423 Email: cnabity@grand-island.com Grand Island Regular Meeting - 9/8/2021 Page 133 / 139 But For TIF Source of Financing With TIF Without TIF Percentage of Capital With TIF Without TIF Developer Equity 17,034,246 17,034,246 Developer Equity 28%28% Commercial Bank Loan 35,085,188 35,085,188 Commercial Bank Loan 57%57% TIF Loan*9,091,042 Tax Increment Finance 15% Funding Gap 9,091,042 Funding Gap 15% Total 61,210,476 61,210,476 Total 100%100% *Net Present Value Calculation Tax Increment Finance 14,430,226 Discount Due to Time Value of Money 5,339,184 Principal Loan Amount 9,091,042 The capital stack for a project at this magnitude is not financially feasible without the availbility of Tax Increment Financing. The value generated from the housing units will be used to create roads, infrastructure, and a neighborhood that is well above the required city standard. Grand Island Regular Meeting - 9/8/2021 Page 134 / 139 Attachment B Proposed Project Buildings Value Total Value S/F $/F /Unit Clubhouse 1 600,000 600,000 4,000 150 600,000 10 Unit 14 1,682,875 23,560,250 11,800 142.6165 120,205 3 bed Townhome 3 550,000 1,650,000 4,500 122.2222 183,333 Townhome 30 400,000 12,000,000 2,000 200 13,333 Commercial 2 Floors 8 800,000 6,400,000 4,000 200 100,000 44,210,250 Est Val 0.02176 Est Levy 962,015 Est Tax 15 Years 14,430,226 TIF Available base 80,828 1,759 Grand Island Regular Meeting - 9/8/2021 Page 135 / 139 Grand Island Regular Meeting - 9/8/2021 Page 136 / 139 Innate 2 LLC, Husker Highway Area 33 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 364 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 8th day of September, 2021 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By___________________________ Chairperson ATTEST: __________________________ Secretary Grand Island Regular Meeting - 9/8/2021 Page 137 / 139 Innate Development 2, LLC Husker Highway Area 33 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 365 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 Innate Development 2, LLC, (The "Developer") for redevelopment of property proposed for platting as Husker Highway Subdivision located west of Prairieview Street and north of Husker Highway, 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 5; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: Section 1. In compliance with section 18-2114 of the Act, the Authority hereby gives the governing body of the City notice that it intends to enter into the Redevelopment Contract, attached as Exhibit 1, with such changes as are deemed appropriate by the Authority, after approval of the redevelopment plan amendment related to the redevelopment project described in the Redevelopment Contract, and after the passage of 30 days from the date hereof. Section 2. The Secretary of the Authority is directed to file a copy of this resolution with the City Clerk of the City of Grand Island, forthwith. Passed and approved this 8th day of September, 2021. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By ___________________________ Chairperson ATTEST: ___________________ Secretary Grand Island Regular Meeting - 9/8/2021 Page 138 / 139 Innate Development 2, LLC Husker Highway Area 33 Exhibit 1 Legal Description: Part of the W ½ of the SE ¼ and the E ½ of the SW ¼ of 25-11-10 (Parcels 400201089 and 400201097) proposed for platting as Husker Highway Subdivision, in the City of Grand Island, Hall County, Nebraska. Grand Island Regular Meeting - 9/8/2021 Page 139 / 139