10-13-2021 Community Redevelopment Authority Regular Meeting Packet
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 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 - 10/13/2021 Page 1 / 194
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 - 10/13/2021 Page 2 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item A1
Agenda October 13, 2021
Staff Contact:
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COMMUNITY REDEVELOPMENT AUTHORITY
AGENDA MEMORANDUM
4 p.m. Wednesday, October 13, 2021
2. APPROVAL OF MINUTES. The minutes of the Community Redevelopment
Authority meeting September 23, 2021 are submitted for approval. A MOTION is in
order.
3. APPROVAL OF FINANCIAL REPORTS. Financial reports for September 1, 2021
to September 30, 2021.
4. APPROVAL OF BILLS. Payment of bills in the amount of $254,121.86.
5. REVIEW OF COMMITTED PROJECTS AND CRA PROPERTIES.
6. REDEVELOPMENT PLAN CONTRACT FOR CRA AREA #5 –PROCON FLEX
INDUSTRIAL
The Grand Island City Council approve 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 at their meeting on September 28,
2021. 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 approve the contract and bond resolution. A MOTION to approve Resolution
366 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 Grand
Island City Council for consideration. A MOTION to approve Resolution 367
(forward 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
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
Grand Island Regular Meeting - 10/13/2021 Page 6 / 194
to the Grand Island City Council for consideration. A MOTION to approve
Resolution 368 (forward to City Council) is in order.
9. FAÇADE IMPROVEMENT GRANT 208 N. LOCUST STREET The owner of 208
N Locust Street, Dave Parmely, is requesting a façade improvement grant of
$13,920 to enhance and renew the façade on their building. The total cost of the
façade project is estimated at $13,920 and the developer has or will spend
$30,000 on other improvements in the building. A CRA Façade committee is
scheduled to review this application on October 8, 2021. A recommendation will
be presented at the meeting.
10. FAÇADE IMPROVEMENT GRANT 208 N. LOCUST STREET The owner of 321
E. 4th Street, Danny Oberg, is requesting a façade improvement grant of $43,800
to enhance and renew the façade on their building. The total cost of the façade
project is estimated at $43,810. The developer purchased the building for
$100,000 in 2021. A CRA Façade committee is scheduled to review this
application on October 8, 2021. A recommendation will be presented at the
meeting.
11. FAÇADE IMPROVEMENT GRANT 313 W. 2ND The owner of 313 W. 2nd Street,
Brandon Flodman, is requesting a façade improvement grant of $59,783 to
enhance and renew the façade on their building. The total cost of the façade
project is estimated at $59,783. The developer is purchasing the building for
$70,000. The developer will spend an additional $206,455 on improvements to
the building. A CRA Façade committee is scheduled to review this application on
October 8, 2021. A recommendation will be presented at the meeting.
12. FAÇADE IMPROVEMENT GRANT 208 N. LOCUST STREET The owner of 223
W. 3rd Street, Azure Investment Group Inc., is requesting a façade improvement
grant of $88,000 to enhance and renew the façade on their building. The total cost
of the façade project is estimated at $88,000. The developer purchased the
building for $250,000 in 2021. The developer has received tax increment
financing for this project and intends to invest an additional $610,000 in
construction costs for the project. A CRA Façade committee is scheduled to
review this application on October 8, 2021. A recommendation will be presented
at the meeting.
13. FAÇADE IMPROVEMENT GRANT 213 W. 3RD STREET The owners of .
213 W. 3rd Street, Julie & Dana Wright-Take Flight Investments LLC, is
requesting a façade improvement grant of $49,000 to enhance and renew
the façade on their building. The total cost of the façade project is
estimated at $49,000. The developer purchased the building for $168,000
in 2020. The developer will be investing an additional $50,000 in
construction costs for the project. A CRA Façade committee is scheduled
to review this application on October 8, 2021. A recommendation will be
presented at the meeting.
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14. DIRECTOR’S REPORT.
15. ADJOURNMENT
Chad Nabity
Director
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Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item B1
Minutes - September 23, 2021
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 9 / 194
OFFICIAL PROCEEDINGS
MINUTES OF
COMMUNITY REDEVELOPMENT AUTHORITY
MEETING OF
September 23, 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 September 23, 2021 at City Hall, 100 E.
First Street. Notice of the meeting was given in the September 15, 2021 Grand Island
Independent.
1.CALL TO ORDER.
Chairman Gdowski called the meeting to order at 9:00 a.m. The following members were
present: Tom Gdowski, Krae Dutoit, Sue Pirnie and Jim Truell. Also present were:
Director Chad Nabity and Planning Administrative Assistant Norma Hernandez.
2.APPROVAL OF MINUTES.
A motion for approval of the Minutes for the September 8, 2021 was made by Truell and
second by Dutoit. Upon roll call vote, all present voted aye. Motion carried 4-0
3.APPROVAL OF FINANCIAL REPORTS.
A motion was made by Dutoit and second by Pirnie to approve the financials from August
1– August 31 30, 2021. Upon roll call vote, all present voted aye. Motion carried 4-0.
4.APPROVAL OF BILLS.
A motion was made by Pirnie and second by Truell to approve the bills for $1,875,254.47
Upon roll call vote, all present voted aye. Motion carried 4-0.
5.REVIEW OF COMMITTED PROJECTS & CRA PROPERTY.
The committed projects and CRA properties were reviewed by Nabity.
1868 Foundation – will be coming off.
Southeast Commons – will be coming off.
Carnegie Library – they are working on. Should be done mid-October, early November.
Life Safety Grants
Hedde Building - will be receiving a $50,000 request for 3 apartments that are completed.
Azure Investments - Still working on it and making progress on the new apartments.
Rawr Holdings – Will have until December to see if they are still moving forward.
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6.Director’s Report
Nothing new from the September 8 meeting.
7.Adjournment at 9:21A.M.
Next meeting October 13, 2021 at 4:00 P.M.
Respectfully Submitted,
Norma Hernandez
Administrative Assistant
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Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item C1
CRA September 2021 Financials
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 12 / 194
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
CONSOLIDATED
Beginning Cash 642,923 677,632
REVENUE:
Property Taxes - CRA 147,544 525,145 504,203 - 104.15%
Property Taxes - Lincoln Pool 57,359 180,103 195,805 15,702 91.98%
Property Taxes -TIF's 1,566,365 4,507,107 4,858,000 1,026,475 92.78%
Loan Income (Poplar Street Water Line) - - 20,000 20,000 0.00%
Interest Income - CRA 143 3,126 10,000 6,874 31.26%
Interest Income - TIF'S - - - -
Land Sales - - - - #DIV/0!
Other Revenue - CRA 207,489 221,212 200,000 - 110.61%
Other Revenue - TIF's - - - -
TOTAL REVENUE 1,978,899 5,436,693 5,788,008 1,069,050 93.93%
TOTAL RESOURCES 2,621,822 5,436,693 6,465,640 1,069,050
EXPENSES
Auditing & Accounting - - 3,000 3,000 0.00%
Legal Services 18 34 3,000 2,966 1.13%
Consulting Services - - 5,000 5,000 0.00%
Contract Services 4,532 54,671 75,000 20,329 72.90%
Printing & Binding - - 1,000 1,000 0.00%
Other Professional Services - 10,567 16,000 5,433 66.04%
General Liability Insurance - - 250 250 0.00%
Postage - - 200 200 0.00%
Legal Notices - 138 500 362 27.51%
Travel & Training - - 4,000 4,000 0.00%
Other Expenditures - - - -
Office Supplies - 249 1,000 751 24.89%
Supplies - - 300 300 0.00%
Land - - 30,000 30,000
Bond Principal - Lincoln Pool - 185,000 185,000 - 100.00%
Bond Interest - 10,805 10,805 - 100.00%
Fiscal Agent Fees/Bond Costs - 525 - -
Husker Harvest Days - 200,000 200,000 - 100.00%
Façade Improvement - 319,477 200,000 - 159.74%
Building Improvement 195,000 210,736 670,000 459,264 31.45%
Other Projects 3,000 200,000 197,000 1.50%
Bond Principal-TIF's 1,672,060 4,506,742 4,857,800 351,058 92.77%
Bond Interest-TIF's - - - -
Interest Expense - - - -
TOTAL EXPENSES 1,871,610 5,501,944 6,462,855 1,080,913 85.13%
INCREASE(DECREASE) IN CASH 107,289 (65,251) (674,847)
ENDING CASH 750,212 (65,251) 2,785 -
CRA CASH 593,868
Lincoln Pool Tax Income Balance 148,668
TIF CASH 7,676
Total Cash 750,212
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
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MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
GENERAL OPERATIONS:
Property Taxes - CRA 147,544 525,145 504,203 - 104.15%
Property Taxes - Lincoln Pool 57,359 180,103 195,805 15,702 91.98%
Interest Income 143 3,126 10,000 6,874 31.26%
Loan Income (Poplar Street Water Line) - 20,000 20,000 0.00%
Land Sales - - - #DIV/0!
Other Revenue & Motor Vehicle Tax 207,489 221,212 200,000 - 110.61%
TOTAL 412,534 929,586 930,008 42,576 99.95%
WALNUT HOUSING PROJECT
Property Taxes - -
Interest Income - -
Other Revenue - - -
TOTAL - - - -
GIRARD VET CLINIC
Property Taxes 5,213 16,238 -
TOTAL 5,213 16,238 - -
GEDDES ST APTS-PROCON
Property Taxes 16,041 33,662 -
TOTAL 16,041 33,662 - -
SOUTHEAST CROSSING
Property Taxes 4,157 14,696 -
TOTAL 4,157 14,696 - -
POPLAR STREET WATER
Property Taxes 7,171 18,561 -
TOTAL 7,171 18,561 - -
CASEY'S @ FIVE POINTS
Property Taxes 6,945 14,574 -
TOTAL 6,945 14,574 - -
SOUTH POINTE HOTEL PROJECT
Property Taxes 90,810 -
TOTAL - 90,810 - -
TODD ENCK PROJECT
Property Taxes - -
TOTAL - - - -
JOHN SCHULTE CONSTRUCTION
Property Taxes (3,645) 198 -
TOTAL (3,645) 198 - -
PHARMACY PROPERTIES INC
Property Taxes 6,870 -
TOTAL - 6,870 - -
KEN-RAY LLC
Property Taxes - -
TOTAL - - - -
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MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
TOKEN PROPERTIES RUBY
Property Taxes 1,532 3,216 -
TOTAL 1,532 3,216 - -
GORDMAN GRAND ISLAND
Property Taxes 122,046 -
TOTAL - 122,046 - -
BAKER DEVELOPMENT INC
Property Taxes 1,965 6,029 -
TOTAL 1,965 6,029 - -
STRATFORD PLAZA INC
Property Taxes 16,704 35,054 -
TOTAL 16,704 35,054 - -
COPPER CREEK 2013 HOUSES
Property Taxes 41,048 125,256 -
TOTAL 41,048 125,256 - -
FUTURE TIF'S
Property Taxes - 4,858,000 4,858,000
TOTAL - - 4,858,000 4,858,000
CHIEF INDUSTRIES AURORA COOP
Property Taxes 19,087 40,054 (40,054)
TOTAL 19,087 40,054 - (40,054)
TOKEN PROPERTIES KIMBALL ST
Property Taxes 1,449 3,042 (3,042)
TOTAL 1,449 3,042 - (3,042)
GI HABITAT OF HUMANITY
Property Taxes 2,839 5,957 (5,957)
TOTAL 2,839 5,957 - (5,957)
AUTO ONE INC
Property Taxes 7,429 15,591 (15,591)
TOTAL 7,429 15,591 - (15,591)
EIG GRAND ISLAND
Property Taxes 26,083 62,736 (62,736)
TOTAL 26,083 62,736 - (62,736)
TOKEN PROPERTIES CARY ST
Property Taxes 4,046 8,492 (8,492)
TOTAL 4,046 8,492 - (8,492)
Grand Island Regular Meeting - 10/13/2021 Page 15 / 194
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
WENN HOUSING PROJECT
Property Taxes 2,385 7,342 (7,342)
TOTAL 2,385 7,342 - (7,342)
COPPER CREEK 2014 HOUSES
Property Taxes 153,119 429,288 (429,288)
TOTAL 153,119 429,288 - (429,288)
TC ENCK BUILDERS
Property Taxes 1,783 3,743 (3,743)
TOTAL 1,783 3,743 - (3,743)
SUPER MARKET DEVELOPERS
Property Taxes 59,886 125,673 (125,673)
TOTAL 59,886 125,673 - (125,673)
MAINSTAY SUITES
Property Taxes 33,476 70,251 (70,251)
TOTAL 33,476 70,251 - (70,251)
TOWER 217
Property Taxes 12,678 26,595 (26,595)
TOTAL 12,678 26,595 - (26,595)
COPPER CREEK 2015 HOUSES
Property Taxes 114,715 317,092 - (317,092)
TOTAL 114,715 317,092 - (317,092)
NORTHWEST COMMONS
Property Taxes 7,055 219,611 - (219,611)
TOTAL 7,055 219,611 - (219,611)
HABITAT - 8TH & SUPERIOR
Property Taxes 5,736 12,037 (12,037)
TOTAL 5,736 12,037 - (12,037)
KAUFMAN BUILDING
Property Taxes 6,121 12,842 (12,842)
TOTAL 6,121 12,842 - (12,842)
TALON APARTMENTS
Property Taxes 100,313 (100,313)
TOTAL - 100,313 - (100,313)
VICTORY PLACE
Property Taxes 4,520 9,485 (9,485)
TOTAL 4,520 9,485 - (9,485)
THINK SMART
Property Taxes 6,744 (6,744)
TOTAL - 6,744 - (6,744)
Grand Island Regular Meeting - 10/13/2021 Page 16 / 194
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
BOSSELMAN HQ
Property Taxes 81,653 (81,653)
TOTAL - 81,653 - (81,653)
TALON APARTMENTS 2017
Property Taxes 112,989 (112,989)
TOTAL - 112,989 - (112,989)
WEINRICH DEVELOPMENT
Property Taxes 3,209 6,735 (6,735)
TOTAL 3,209 6,735 - (6,735)
WING WILLIAMSONS
Property Taxes 2,799 (2,799)
TOTAL - 2,799 - (2,799)
HATCHERY HOLDINGS
Property Taxes 80,833 169,631 (169,631)
TOTAL 80,833 169,631 - (169,631)
FEDERATION LABOR TEMPLE
Property Taxes 3,461 10,781 (10,781)
TOTAL 3,461 10,781 - (10,781)
MIDDLETON PROPERTIES II
Property Taxes 7,204 15,118 (15,118)
TOTAL 7,204 15,118 - (15,118)
COPPER CREEK 2016 HOUSES
Property Taxes 79,716 205,755 (205,755)
TOTAL 79,716 205,755 - (205,755)
MENDEZ ENTERPRISES LLC PHASE 1
Property Taxes 59 364 (364)
TOTAL 59 364 - (364)
EAST PARK ON STUHR
Property Taxes 55,082 115,592 (115,592)
TOTAL 55,082 115,592 - (115,592)
TAKE FLIGHT INVESTMENTS
Property Taxes 8,752 (8,752)
TOTAL - 8,752 - (8,752)
PRATARIA VENTURES HOSPITAL
Property Taxes 724,958 1,694,215 (1,694,215)
TOTAL 724,958 1,694,215 - (1,694,215)
AMMUNITION PLANT
Property Taxes - -
TOTAL - - - -
URBAN ISLAND LLC
Property Taxes 1,776 3,725 (3,725)
TOTAL 1,776 3,725 - (3,725)
Grand Island Regular Meeting - 10/13/2021 Page 17 / 194
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
PEACEFUL ROOT
Property Taxes 5,240 (5,240)
TOTAL - 5,240 - (5,240)
TALON 2019 LOOKBACK
Property Taxes 2,942 (2,942)
TOTAL - 2,942 - (2,942)
COPPER CREEK PH2 2019 LOOKBACK
Property Taxes 2,868 6,705 (6,705)
TOTAL 2,868 6,705 - (6,705)
GRAND ISLAND HOTEL
Property Taxes 26,988 56,635 (56,635)
TOTAL 26,988 56,635 - (56,635)
PARAMOUNT OLD SEARS
Property Taxes 652 1,368 (1,368)
TOTAL 652 1,368 - (1,368)
CENTRAL NE TRUCK WASH
Property Taxes 20,020 42,012 (42,012)
TOTAL 20,020 42,012 - (42,012)
TOTAL REVENUE 1,978,899 5,436,693 5,788,008 3,564,744 93.93%
- -
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MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
EXPENSES
CRA
GENERAL OPERATIONS:
Auditing & Accounting - 3,000 3,000 0.00%
Legal Services 18 34 3,000 2,966 1.13%
Consulting Services - 5,000 5,000 0.00%
Contract Services 4,532 54,671 75,000 20,329 72.90%
Printing & Binding - 1,000 1,000 0.00%
Other Professional Services 10,567 16,000 5,433 66.04%
General Liability Insurance - 250 250 0.00%
Postage - 200 200 0.00%
Legal Notices 138 500 362 27.51%
Travel & Training - 4,000 4,000 0.00%
Other Expenditures - - -
Office Supplies 249 1,000 751 24.89%
Supplies - 300 300 0.00%
Land - 30,000 30,000
Bond Principal - Lincoln Pool 185,000 185,000 - 100.00%
Bond Interest - Lincoln Pool 10,805 10,805 - 100.00%
Fiscal Agent Fees/Bond Costs 525 - - #DIV/0!
PROJECTS
Husker Harvest Days 200,000 200,000 - 100.00%
Façade Improvement 319,477 200,000 - 159.74%
Building Improvement 195,000 213,736 670,000 456,264 0.00%
Other Projects - 200,000 200,000 0.00%
TOTAL CRA EXPENSES 199,550 995,202 1,605,055 729,855 62.00%
WALNUT HOUSING PROJECT
Bond Principal - - -
Bond Interest - - -
TOTAL - - - -
GIRARD VET CLINIC
Bond Principal 5,213 16,238 - -
TOTAL 5,213 16,238 - -
GEDDES ST APTS - PROCON
Bond Principal 16,041 33,662 - -
TOTAL 16,041 33,662 - -
SOUTHEAST CROSSINGS
Bond Principal 4,157 14,696 - -
TOTAL 4,157 14,696 - -
POPLAR STREET WATER
Bond Principal 7,355 18,561 - -
TOTAL 7,355 18,561 - -
CASEY'S @ FIVE POINTS
Bond Principal 6,945 14,574 - -
TOTAL 6,945 14,574 - -
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MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
SOUTH POINTE HOTEL PROJECT
Bond Principal 43,273 90,810 - -
TOTAL 43,273 90,810 - -
TODD ENCK PROJECT
Bond Principal - - -
TOTAL - - - -
JOHN SCHULTE CONSTRUCTION
Bond Principal 198 - -
TOTAL - 198 - -
PHARMACY PROPERTIES INC
Bond Principal 6,870 - -
TOTAL - 6,870 - -
KEN-RAY LLC
Bond Principal - - -
TOTAL - - - -
TOKEN PROPERTIES RUBY
Bond Principal 1,532 3,216 - -
TOTAL 1,532 3,216 - -
GORDMAN GRAND ISLAND
Bond Principal 41,139 122,046 - -
TOTAL 41,139 122,046 - -
BAKER DEVELOPMENT INC
Bond Principal 1,965 6,029 - -
TOTAL 1,965 6,029 - -
STRATFORD PLAZA LLC
Bond Principal 16,704 35,054 - -
TOTAL 16,704 35,054 - -
COPPER CREEK 2013 HOUSES
Bond Principal 43,638 125,256 - -
TOTAL 43,638 125,256 - -
CHIEF INDUSTRIES AURORA COOP
Bond Principal 19,087 40,054 - -
TOTAL 19,087 40,054 - -
TOKEN PROPERTIES KIMBALL STREET
Bond Principal 1,449 3,042 - -
TOTAL 1,449 3,042 - -
GI HABITAT FOR HUMANITY
Bond Principal 2,839 5,957 - -
TOTAL 2,839 5,957 - -
Grand Island Regular Meeting - 10/13/2021 Page 20 / 194
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
AUTO ONE INC
Bond Principal 7,429 15,591 - -
TOTAL 7,429 15,591 - -
EIG GRAND ISLAND
Bond Principal 26,083 62,736 - -
TOTAL 26,083 62,736 - -
TOKEN PROPERTIES CARY STREET
Bond Principal 4,046 8,492 - -
TOTAL 4,046 8,492 - -
WENN HOUSING PROJECT
Bond Principal 2,385 7,342 - -
TOTAL 2,385 7,342 - -
COPPER CREEK 2014 HOUSES
Bond Principal 155,417 429,288 - -
TOTAL 155,417 429,288 - -
TC ENCK BUILDERS
Bond Principal 1,783 3,743 - -
TOTAL 1,783 3,743 - -
SUPER MARKET DEVELOPERS
Bond Principal 59,886 125,673 - -
TOTAL 59,886 125,673 - -
MAINSTAY SUITES
Bond Principal 33,476 70,251 - -
TOTAL 33,476 70,251 - -
TOWER 217
Bond Principal 12,678 26,595 - -
TOTAL 12,678 26,595 - -
COPPER CREEK 2015 HOUSES
Bond Principal 124,546 317,092 - -
TOTAL 124,546 317,092 -
NORTHWEST COMMONS
Bond Principal 7,055 219,611 - -
TOTAL 7,055 219,611 -
HABITAT - 8TH & SUPERIOR
Bond Principal 5,736 12,037 - -
TOTAL 5,736 12,037 -
KAUFMAN BUILDING
Bond Principal 6,121 12,842 - -
TOTAL 6,121 12,842 -
Grand Island Regular Meeting - 10/13/2021 Page 21 / 194
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
TALON APARTMENTS
Bond Principal 100,313 - -
TOTAL - 100,313 -
VICTORY PLACE
Bond Principal 4,520 12,284 - -
TOTAL 4,520 12,284 -
FUTURE TIF'S
Bond Principal - 4,857,800 4,857,800
TOTAL - - 4,857,800 4,857,800
THINK SMART
Bond Principal 6,744 - -
TOTAL - 6,744 -
BOSSELMAN HQ
Bond Principal 81,653 - -
TOTAL - 81,653 -
TALON APARTMENTS 2017
Bond Principal 113,133 - -
TOTAL - 113,133 -
WEINRICH DEVELOPMENT
Bond Principal 3,209 6,735 - -
TOTAL 3,209 6,735 -
WING WILLIAMSONS
Bond Principal 2,799 - -
TOTAL - 2,799 -
HATCHERY HOLDINGS
Bond Principal 80,833 169,631 - -
TOTAL 80,833 169,631 -
FEDERATION LABOR TEMPLE
Bond Principal 3,461 10,781 - -
TOTAL 3,461 10,781 -
MIDDLETON PROPERTIES II
Bond Principal 7,204 15,118 - -
TOTAL 7,204 15,118 -
COPPER CREEK 2016 HOUSES
Bond Principal 79,716 204,895 - -
TOTAL 79,716 204,895 -
EAST PARK ON STUHR
Bond Principal 55,082 115,592 - -
TOTAL 55,082 115,592 -
TAKE FLIGHT INVESTMENTS
Bond Principal 2,795 8,752 - -
TOTAL 2,795 8,752 -
Grand Island Regular Meeting - 10/13/2021 Page 22 / 194
MONTH ENDED 2020-2021 2021 REMAINING % OF BUDGET
September-21 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF SEPTEMBER 2021
PRATARIA VENTURES HOSPITAL
Bond Principal 724,958 1,694,215 - -
TOTAL 724,958 1,694,215 -
AMMUNITION PLANT
Bond Principal - - -
TOTAL - - -
URBAN ISLAND LLC
Bond Principal 1,776 3,725 - -
TOTAL 1,776 3,725 -
PEACEFUL ROOT
Bond Principal 5,240 - -
TOTAL - 5,240 -
TALON 2019 LOOKBACK
Bond Principal - - -
TOTAL - - -
COPPER CREEK PH2 2019 LOOKBACK
Bond Principal 2,868 7,565 - -
TOTAL 2,868 7,565 -
GRAND ISLAND HOTEL
Bond Principal 26,988 56,635 - -
TOTAL 26,988 56,635 -
PARAMOUNT OLD SEARS
Bond Principal 652 1,368 - -
TOTAL 652 1,368 -
CENTRAL NE TRUCK WASH
Bond Principal 20,020 42,012 - -
TOTAL 20,020 42,012 -
TOTAL EXPENSES 1,871,610 5,501,944 6,462,855 5,587,655 85.13%
Grand Island Regular Meeting - 10/13/2021 Page 23 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item D1
Bills - October 2021
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 24 / 194
Grand Island Regular Meeting - 10/13/2021 Page 25 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item E1
Review of Committed Projects and CRA Properties
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 26 / 194
COMMITTED PROJECTS REMAINING
GRANT
AMOUNT
2021 FISCAL YR 2022 FISCAL YR 2023 FISCAL YR ESTIMATED
COMP
Carnegie Library (4/14/21) $ 85,000.00 $ 85,000.00
Total Committed $ 85,000.00 $ 85,000.00 $ - $ -
FIRE & LIFE SAFETY GRANT TOTAL
AMOUNT
2021 FISCAL YR 2022 FISCAL YR 2023 FISCAL YR ESTIMATED
COMP
201-203 W. 3rd St. Anson (8-24-16) $ 310,000.00 $ 310,000.00 Spring 2022
Azure Investment Group (5-12-21) $ 70,000.00 $ 70,000.00 Fall 2021
Rawr Holdings 110 W 2nd (12/12/18) $ 35,000.00 $ 35,000.00 Winter 2022
Total Committed F&L Safety Grant $ 415,000.00 $ 415,000.00 $ - $ -
BUDGET 2021 2021 LEFT
Façade Budgeted 2021 $ 200,000.00 $ 99,977.00 $ 100,023.00
Other Projects Budgeted 2021 $ 200,000.00 $ 161,500.00 $ 38,500.00
Land - Budgeted 2021 $ 30,000.00 $ - $ 30,000.00
Land Sales Budgeted 2021 $ - $ - $ -
subtotal $ 261,477.00 $ 168,523.00
Balance $ 261,477.00 $ 168,523.00
BUDGET PAID LEFT
Building Improvements * $ 670,000.00 $ 15,736.05 $ 654,263.95
*Includes Life Safety, Façade, Other grants made in previous fiscal years
CRA PROPERTIES
Address Purchase Price Purchase Date Demo Cost Status
3235 S Locust (Desert Rose) $450,000 4/2/2010 $39,764 Surplus
September 30, 2021
Grand Island Regular Meeting - 10/13/2021 Page 27 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item F1
Parmley Facade Application - 208 N. Locust
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 28 / 194
Façade Improvement Program Application
Project Redeveloper Information
I. Applicant Name: Dave Parmley
Address: 2123 Riverside Drive, Grand Island NE 68801
Telephone No.: (308) 390-2700
Contact: Dave Parmley
II. Legal Street Address of Project Site: 208 North Locust
III. Zoning of Project Site: Commercial/Residential
IV. Current and Contemplated Use Of Project: Retail storefront and one apartment
V. Present Ownership of Project Site: Dave Parmley
VI. Proposed Project: Describe in detail; attach plans and specifications:
See Attached ______
______
______
__________________________________________________________________
__________________________________________________________________
_____________________________ ______
Grand Island Regular Meeting - 10/13/2021 Page 29 / 194
VI. Estimated Project Costs:
Acquisition Costs:
A. Land $ 0
B. Building $ 95,000
Construction Costs:
A. Renovation or Building Costs Attributable
to Façade Improvements (attach detail): $ 13,920
B. Other Construction Costs: $ 30,000
VIII. Source of Financing:
A. Developer Equity: $125,000
B. Commercial Bank Loan: $
C. Historic Tax Credits $
D. Tax Increment Assistance: $
E. Other (Describe: Façade Grant) $ 13,920
IX. Name, Address of Architect, Engineer and General Contractor:
General Contractor: Amos Anson, Empire Development, PO Box 1665 Grand Island NE 68802 308-390-2455
Architect: Stacy J Spotanski/ Toby Gay, Gay & Associates, 1470 31st Ave, Columbus, NE (308) 850-8186
X. Project Construction Schedule:
A. Construction Start Date: Upon CRA Approval
B. Construction Completion Date: 2022________________________________
Grand Island Regular Meeting - 10/13/2021 Page 30 / 194
FINANCING REQUEST INFORMATION
I. Describe Amount and Purpose for Which Façade Improvement Program funds is
Requested: The amount of Façade dollars being asked for is $13,920. These funds
will be used to renovate the front of the building.
II. Statement Identifying Financial Gap and Necessity for use of Façade
Improvement Program Funds for Proposed Project: Due to the nature of
construction and financing of downtown real-estate, a façade grant is necessary to
bring the building closer to its fullest potential.
III. Application of Grant Funds:
______________X__________________Grant to Redeveloper; or
________________________________Interest Rate Buy-Down
Post Office Box 1968
Grand Island, Nebraska 68802-1968
Phone: 308 385-5240
Fax: 308 385-5423
Email: cnabity@grand-island.com
Grand Island Regular Meeting - 10/13/2021 Page 31 / 194
Soft Costs $0
Carpentry $11,100
Demo $0
Materials $0
Architect $500
Signs $0
O&P $2,320
Total $13,920
Grand Island Regular Meeting - 10/13/2021 Page 32 / 194
Grand Island Regular Meeting - 10/13/2021 Page 33 / 194
Grand Island Regular Meeting - 10/13/2021 Page 34 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item F2
Facade Application - 321 E. 4th Street
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 35 / 194
Façade Improvement Program Application
Project Redeveloper Information
I. Applicant Name: Oberg Properties LLC
Address: 619 South Clay St., Chapman NE 68803
Telephone No.: (308) 380-1040
Contact: Danny Oberg
II. Legal Street Address of Project Site: 321 E 4th st,
III. Zoning of Project Site: Commercial
IV. Current and Contemplated Use Of Project: Repair Garage/Mechanic
V. Present Ownership of Project Site: Danny Oberg
VI. Proposed Project: Describe in detail; attach plans and specifications:
See Attached ______
______
______
__________________________________________________________________
__________________________________________________________________
_____________________________ ______
Grand Island Regular Meeting - 10/13/2021 Page 36 / 194
VI. Estimated Project Costs:
Acquisition Costs:
A. Land $ 0
B. Building $ 100,000
Construction Costs:
A. Renovation or Building Costs Attributable
to Façade Improvements (attach detail): $ 43,810
B. Other Construction Costs: $
VIII. Source of Financing:
A. Developer Equity: $100,000
B. Commercial Bank Loan: $
C. Historic Tax Credits $
D. Tax Increment Assistance: $
E. Other (Describe: Façade Grant) $ 43,810
IX. Name, Address of Architect, Engineer and General Contractor:
General Contractor: Amos Anson, Empire Development, PO Box 1665 Grand Island NE 68802 308-390-2455
Architect: Brad Kissler, CMBA 208 North Pine St #301 Grand Island NE 308-384-4444
X. Project Construction Schedule:
A. Construction Start Date: Upon CRA Approval
B. Construction Completion Date: 2022________________________________
Grand Island Regular Meeting - 10/13/2021 Page 37 / 194
FINANCING REQUEST INFORMATION
I. Describe Amount and Purpose for Which Façade Improvement Program funds is
Requested: The amount of Façade dollars being asked for is $43,810. These funds
will be used to renovate the front of the building.
II. Statement Identifying Financial Gap and Necessity for use of Façade
Improvement Program Funds for Proposed Project: Due to the nature of
construction and financing of downtown real-estate, a façade grant is necessary to
bring the building closer to its fullest potential.
III. Application of Grant Funds:
______________X__________________Grant to Redeveloper; or
________________________________Interest Rate Buy-Down
Post Office Box 1968
Grand Island, Nebraska 68802-1968
Phone: 308 385-5240
Fax: 308 385-5423
Email: cnabity@grand-island.com
Grand Island Regular Meeting - 10/13/2021 Page 38 / 194
Grand Island Regular Meeting - 10/13/2021 Page 39 / 194
Grand IslandRegular Meeting - 10/13/2021Page 40 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item F3
Left Click Facade Application - 313 W. 2nd
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 41 / 194
Façade Improvement Program Application
Project Redeveloper Information
I. Applicant Name: Left Click Properties
Address: 617 Stagecoach Road, Grand Island NE 68801
Telephone No.: (308) 380-5332
Contact: Brandon Flodman
II. Legal Street Address of Project Site: 313 W 2nd
III. Zoning of Project Site: Commercial
IV. Current and Contemplated Use Of Project: Office Space
V. Present Ownership of Project Site:Ronald Trampe
VI. Proposed Project: Describe in detail; attach plans and specifications:
See Attached ______
______
______
__________________________________________________________________
__________________________________________________________________
_____________________________ ______
Grand Island Regular Meeting - 10/13/2021 Page 42 / 194
VI. Estimated Project Costs:
Acquisition Costs:
A. Land $ 0
B. Building $ 70,000
Construction Costs:
A. Renovation or Building Costs Attributable
to Façade Improvements (attach detail): $ 59,783
B. Other Construction Costs: $ 206,455
VIII. Source of Financing:
A. Developer Equity: $70,000
B. Commercial Bank Loan: $206,455
C. Historic Tax Credits $
D. Tax Increment Assistance: $
E. Other (Describe: Façade Grant) $ 59,783
IX. Name, Address of Architect, Engineer and General Contractor:
General Contractor: Amos Anson, Empire Development, PO Box 1665 Grand Island NE 68802 308-390-2455
Architect: Stacy J Spotanski/ Toby Gay, Gay & Associates, 1470 31st Ave, Columbus, NE (308) 850-8186
X. Project Construction Schedule:
A. Construction Start Date: Upon CRA Approval
B. Construction Completion Date: 2022________________________________
Grand Island Regular Meeting - 10/13/2021 Page 43 / 194
FINANCING REQUEST INFORMATION
I. Describe Amount and Purpose for Which Façade Improvement Program funds is
Requested: The amount of Façade dollars being asked for is $59,783. These funds
will be used to renovate the front of the building.
II. Statement Identifying Financial Gap and Necessity for use of Façade
Improvement Program Funds for Proposed Project: Due to the nature of
construction and financing of downtown real-estate, a façade grant is necessary to
bring the building closer to its fullest potential.
III. Application of Grant Funds:
______________X__________________Grant to Redeveloper; or
________________________________Interest Rate Buy-Down
Post Office Box 1968
Grand Island, Nebraska 68802-1968
Phone: 308 385-5240
Fax: 308 385-5423
Email: cnabity@grand-island.com
Grand Island Regular Meeting - 10/13/2021 Page 44 / 194
Grand Island Regular Meeting - 10/13/2021 Page 45 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item F4
Azure Facade Application - 223 W. 3rd -
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 46 / 194
Azure Investment Group
209 W 3rd Street
308-240-0918
Dana Wright
223 W 3rd Street
B3
4-5 Retail Spaces - 6 Apartments
Azure Investment Group LLC
250,000
$80,000 - Windows - replacement of broken/damaged and previously removed/blocked
up windows on both front storefront and back storefront.
$5,000 - Demo of bricked up windows and removal of old windows
$15,000 - New signage for retail spaces
Azure Investments is renovating the entirety of the 223 W 3rd Street (Greenberger’s)
building. The brick structure is in great shape but the old metal awnings will need to be
replaced as they are damaged. We are also going to restore the back entry way to its
original glass front to bring that back to life. The front retail space windows need replaced
from damage and vandalism. The old windows above the awning were removed years ago
and we will be wanting to put those back in as well.
$25,000 - Replacement of front awning
$3,000 - Electrical work for signage
A portion of awarded grant dollars will
be put toward signage needs for retail spaces in the property.
Reconstruction of Windows, Awnings
and tenant signage assistance
Grand Island Regular Meeting - 10/13/2021 Page 47 / 194
223 W 3rd Street
4-5 Retail Spaces - 6 Apartments
600,000
850,000
356,000
Fall 2021
January 2022
$80,000 - Windows - replacement of broken/damaged and previously removed/blocked
up windows on both front storefront and back storefront.
$5,000 - Demo of bricked up windows and removal of old windows
$15,000 - New signage for retail spaces
Designer - Stacy Spotanski
724 W. Hedde Street, #4
Grand Island, NE 68801
Architect - Toby Gay
1470 31st Avenue
Columbus, NE 68601
$25,000 - Replacement of front awning
$3,000 - Electrical work for signage
$10,000
$60,000
Contractor - Shada Construction
2421 Pioneer Blvd
Grand Island, NE 68801
40,000
610,000
900,000
Grand Island Regular Meeting - 10/13/2021 Page 48 / 194
$128,000
$0
$80,000 - Windows - replacement of broken/damaged and previously removed/blocked up windows on both front storefront and back storefront.$5,000 - Demo of bricked up windows and removal of old windows$15,000 - New signage for retail spaces
We are putting nearly $600,000 in renovation of the interior
space to add more living and retail opportunities into the Railside district. With the help
of CRA facade funds, we will be able to make these pieces come to life to cap o a beauti -
ful project. These will be the nishing touches to the exterior of the 223 W 3rd building.
$25,000 - Replacement of front awning
$3,000 - Electrical work for signage
$10,000
88,000
Grand Island Regular Meeting - 10/13/2021 Page 49 / 194
Proposed 223 W 3rd Building Facade Signage Improvement
Current State: Original Facade
after front rock panel removal
Old sign being altered and
simplied for this look.Additional Sign that is being requested.
Current exterior of building.
Grand Island Regular Meeting - 10/13/2021 Page 50 / 194
$80,000 - Windows - replacement of broken/damaged and previously removed/blocked up windows on both front storefront and back storefront.$5,000 - Demo of bricked up windows and removal of old windows$15,000 - New signage for retail spaces
$25,000 - Replacement of front awning
$3,000 - Electrical work for signage
223 W 3rd Building Facade Proposed Northwest Corner
Existing Northwest Corner
These old windows were removed years ago and replaced with
weak panels that are not sealed and leak
These windows have been damaged over the years and are also very inecient and
leak air and moisture. The three panels on the north face (end of green line) have
damage or vandalism of some sort on them.
The northwest corner awning has a lot of hail damage and structurally is not very well supported
to the brick wall. There is damage around the face of it from weather, etc. We would like to
replace this with a new modern and somewhat smaller awning
Grand Island Regular Meeting - 10/13/2021 Page 51 / 194
221 W 3rd Building Facade Proposed Southwest Entrance
Existing Southwest Entrance
Awning will be removed and built to match the front corner
entrance new awning.
The tile pattern was put up to cover what used to be a huge wall of windows. We
will be replacing these windows to open up the retail space inside.
Proposed 223 W 3rd Building Facade Southwest Entrance
Grand Island Regular Meeting - 10/13/2021 Page 52 / 194
223 W 3rd Building Facade Proposed Bricked up Window Replacement - Southwest corner 2nd Floor 223 W 3rd Building Facade Proposed Bricked up Window Replacement - West side 1st Floor
Existing Southwest Corner 2nd Floor Existing West side 1st Floor
These west-facing windows were bricked up
and will be replaced to add natural light into
2nd oor apartments.
The entire south side face was stuccoed up
previously, closing up all windows on the
rst and second oor. We will be putting the
2nd oor windows back in for apartment
living.
These west-facing windows in the front retail
space were bricked up. We will be putting
those back to bring more light.
These west-facing windows in the middle
shared restroom/apartment space were
bricked up. We will be putting those back to
bring more light.
Grand Island Regular Meeting - 10/13/2021 Page 53 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item F5
Take Flight Facade Application - 213 W. 3rd -
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 54 / 194
Julie & Dana Wright - Take Flight Investments LLC
209 W 3rd Street
308-240-0918
Mr. Dana Wright
213 W 3rd Street
B3
Rentable Retail Space
Julie & Dana Wright - Take Flight Investments LLC
168,000
213 W 3rd Street is being converted into 2 rentable retail space units on the ground oor,
making 1,980 sq ft of retail space added to the Railside District. The facade was previously
covered with wood panels covered in rocks. The rocks began to fall, creating a liability to
the ownership. The entirety of the panels was taken down after an injury to a passer-by.
The upper facade needs to be replaced as the old bricks are severely damaged from the
old facade framework. The lower facade will also need replaced as the glass is damaged
and has air and water leaks. The upper portion will be replaced with a new brick face and
the lower will be restructured and replaced for better weather protection and aesthetics.
Grand Island Regular Meeting - 10/13/2021 Page 55 / 194
213 W 3rd Street
Rentable Retail Space
49,000
50,000
175,000
Fall 2021
Spring 2022
$8,000 for demo of false facade and structure
$25,000 for new Brick facade replacement
$1,000 for entryway resurfacing
$15,000 for window and door replacement
0
0
0
Designer - Stacy Spotanski
724 W. Hedde Street, #4
Grand Island, NE 68801
Architect - Toby Gay
1470 31st Avenue
Columbus, NE 68601
Grand Island Regular Meeting - 10/13/2021 Page 56 / 194
$49,000
$0
The old facade of this building is a perfect example of a past
owner creating a safety hazard for the future. The quality of the old false facade forced us to take it
down due to safety concerns, exposing the original surface that they drastically damaged to create
the false facade. With the overall square footage available to rent/utilize, the amount of revenue
that the property can generate does not allow for us to nancially be able to restore both the
inside and the outside. This building part of the most progressively-renovated block in the down-
town district and will reduce the overall value of the block without a facade renovation. It is
important to have quality craftsmanship to reconstruct a facade that will stand the test of time.
Grand Island Regular Meeting - 10/13/2021 Page 57 / 194
Proposed 213 W 3rd Building Facade Improvements
False Facade before front rock
panel removal
Current State: Original Facade
after front rock panel removal
Historical Photo:
Clayton’s Drug in
the 1940’s.
Replacement of old broken
windows on second oor that
have been covered for 50+ years
Replacement of new brick front.
Old brick is severely damaged
Replacement of damaged windows
and storefront entryway to allow
for additional weather coverage
Restructure landing of entryway
to x broken concrete and allow
for recessed window space.
Grand Island Regular Meeting - 10/13/2021 Page 58 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item I1
Approval Redevelopment Contract for CRA Area #5 -Procon Flex
Industrial.
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 59 / 194
Procon Flex Industrial Area 5 Contract 1
REDEVELOPMENT CONTRACT
This Redevelopment Contract is made and entered into as of the _______day of
___________, 2021, by and between the Community Redevelopment Authority of the City of
Grand Island, Nebraska ("Authority"), and Procon Properties, LLC, a Nebraska limited liability
company ("Redeveloper").
WITNESSETH:
WHEREAS, the City of Grand Island, Nebraska (the "City'), in furtherance of the purposes
and pursuant to the provisions of Section 12 of Article VIII of the Nebraska Constitution and
Sections 18-2101 through 18-2154, Reissue Revised Statutes of Nebraska, 2012, as amended
(collectively the "Act"), has designated an area within the City as blighted and substandard;
WHEREAS, the Mayor and Council of the City, after public hearing pursuant to the Act,
approved that redevelopment plan entitled " Redevelopment Plan Amendment Grand Island
CRA Area 5 July 2021" (the "Redevelopment Plan");
WHEREAS, Authority and Redeveloper desire to enter into this Redevelopment Contract
in order to implement the Redevelopment Plan and provide for the redevelopment of lots and
lands located in a blighted and substandard area;
WHEREAS, the proposed redevelopment project provides for the construction of
industrial flex building in up to five (5) annual phases.
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein set
forth, Authority and Redeveloper do hereby covenant, agree and bind themselves as follows:
ARTICLE I
DEFINITIONS AND INTERPRETATION
Section 1.01 Terms Defined in this Redevelopment Contract.
Unless the context otherwise requires, the following terms shall have the following
meanings for all purposes of this Redevelopment Contract, such definitions to be equally
applicable to both the singular and plural forms and masculine, feminine and neuter gender of any
of the terms defined:
Grand Island Regular Meeting - 10/13/2021 Page 60 / 194
Procon Flex Industrial Area 5 Contract 2
"Act" means Section 12 of Article VIII of the Nebraska Constitution, Sections 18-2101
through 18-2154, Reissue Revised Statutes of Nebraska, 2012, as amended, and acts amendatory
thereof and supplemental thereto.
"Authority" means the Community Redevelopment Authority of the City of Grand Island,
Nebraska.
"City" means the City of Grand Island, Nebraska.
"Governing Body" means the Mayor and City Council of the City.
"Holder(s)" means the registered owner or owners of Indebtedness issued by the Authority
from time to time outstanding.
"Indebtedness" means any Notes, notes, loans, and advances of money or other
indebtedness, including interest and premium, if any, thereon, incurred by the Authority pursuant
to the Resolution and Article III hereof to provide financing for a portion of the Project Costs and
secured in whole or in part by TIF Revenues. The Indebtedness as initially issued by the Authority
shall consist of the Authority's Tax Increment Development Revenue Note (Procon Project), Series
2021, (the “TIF Note”) to be issued in an amount not to exceed $1,307,858 in substantially the form
set forth on Exhibit C and the various Redevelopment Contract Amendments, and purchased by the
Redeveloper as set forth in Section 3.04 of this Redevelopment Contract.
"Liquidated Damages Amount' means the amounts to be repaid to Authority by
Redeveloper pursuant to Section 6.02 of this Redevelopment Contract.
"Lot" or "Lots" shall mean the separately platted and subdivided lots within the
Redevelopment Project Area established pursuant to an approved and filed subdivision plat in
accordance with the ordinances and regulations of the City.
"Project" means the improvements to the Redevelopment Project Area, as further described
in Exhibit B attached hereto and incorporated herein by reference and, as used herein, shall include
the Redevelopment Project Property and additions and improvements thereto. The Project shall
include Project site acquisition costs and all improvements related to Project public infrastructure
costs, site preparation costs, all as described in Section 3.04 of this Redevelopment Contract.
"Project Cost Certification" means a statement prepared and signed by the Redeveloper
verifying the Redeveloper has paid Project Costs identified on Exhibit D.
"Project Costs" means only costs or expenses incurred by Redeveloper for the purposes set
forth in §l8-2103(28) including the providing for such costs by the exercise of the powers set forth
in §18-2107(4) of the Act, all as identified on Exhibit D.
"Redeveloper" means Procon Properties, LLC, a Nebraska limited liability company.
Grand Island Regular Meeting - 10/13/2021 Page 61 / 194
Procon Flex Industrial Area 5 Contract 3
"Redevelopment Project Area" means that certain real property situated in the City of Grand
Island, Hall County, Nebraska which has been declared blighted and substandard by the City
pursuant to the Act, and which is more particularly described on Exhibit A attached hereto and
incorporated herein by this reference. The Redevelopment Project Area is also described on
Exhibit B. All such legal descriptions are subject to change based upon any re-platting requested
by the Redeveloper and approved by the City.
"Redevelopment Project Property" means all of the Redevelopment Project Area which is
the site for the improvements constituting the Project, as more particularly described on Exhibit A
attached hereto and incorporated herein by this reference.
"Redevelopment Contract" means this redevelopment contract between the Authority and
Redeveloper with respect to the Project, as the same may be amended from time to time, including,
without limitation, by Redevelopment Contract Amendments executed from time to time in
connection with the separate Phases of the Project.
"Redevelopment Contract Amendment" shall mean an amendment to this Redevelopment
Contract, for the purpose of establishing the effective date for the division of ad valorem taxes
pursuant to section 18-2147 of the Act as to each Phase, as defined in Section 3.01 hereof, of lots
in the Redevelopment Project Area. The form of the Redevelopment Contract Amendment is
attached hereto as Exhibit E.
"Redevelopment Plan" means the Redevelopment Plan (also defined in the recitals hereto)
for the Redevelopment Project Area related to the Project, as attached hereto as Exhibit B, prepared
by the Redeveloper, approved by the City and adopted by the Authority pursuant to the Act.
"Resolution" means the Resolution of the Authority authorizing the issuance of the
Indebtedness, as supplemented from time to time, and also approving this Redevelopment
Contract.
"TIF Revenues" means incremental ad valorem taxes generated on the Redevelopment
Project Property by the Project which are to be allocated to and paid to the Authority pursuant to
the Act.
Section 1.02 Construction and Interpretation.
The provisions of this Redevelopment Contract shall be construed and interpreted in
accordance with the following provisions:
(a) Whenever in this Redevelopment Contract it is provided that any person may
do or perform any act or thing the word “may" shall be deemed permissive and not
mandatory and it shall be construed that such person shall have the right, but shall not be
obligated, to do and perform any such act or thing.
(b) The phrase "at any time" shall be construed as meaning at any time or from
time to time.
Grand Island Regular Meeting - 10/13/2021 Page 62 / 194
Procon Flex Industrial Area 5 Contract 4
(c) The word "including" shall be construed as meaning "including, but not
limited to."
(d) The words "will" and "shall" shall each be construed as mandatory.
(e) The words "herein," "hereof," "hereunder", "hereinafter" and words of similar
import shall refer to the Redevelopment Contract as a whole rather than to any particular
paragraph, section or subsection, unless the context specifically refers thereto.
(f) Forms of words in the singular, plural, masculine, feminine or neuter shall be
construed to include the other forms as the context may require.
(g) The captions to the sections of this Redevelopment Contract are for
convenience only and shall not be deemed part of the text of the respective sections and
shall not vary by implication or otherwise any of the provisions hereof.
ARTICLE II
FINDINGS AND REPRESENTATIONS
Section 2.01 Findings of Authority.
The Authority makes the following findings:
(a) The Authority is a duly organized and validly existing community
Redevelopment Authority under the Act.
(b) The Redevelopment Plan has been duly approved by the City and adopted as
amended by the Authority pursuant to Sections 18-2109 through 18-2117 of the Act.
(c) The Authority deems it to be in the public interest and in furtherance of the
purposes of the Act to accept the proposal submitted by Redeveloper as specified herein.
(d) The Redevelopment Project is expected to achieve the public purposes of the
Act by among other things, increasing employment, improving public infrastructure,
increasing the tax base, and lessening blighted and substandard conditions in the
Redevelopment Project Area and other purposes set forth in the Act.
(e) (1) The Redevelopment Plan is feasible and in conformity with the general
plan for the development of the City as a whole and the Redevelopment Plan is in
conformity with the legislative declarations and determinations set forth in the Act, and
(2) Based upon investigation by the Authority and on representations made by
the Redeveloper and its Lender:
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Procon Flex Industrial Area 5 Contract 5
(i) the Project would not be economically feasible without the use of
tax-increment financing (funds provided pursuant to Section 18-2147 of the
Act), and
(ii) the Project would not occur in the Redevelopment Project Area
without the use of tax-increment financing.
(iii) the Authority has documented the financial infeasibility as a lack
of capital to undertake the Project as the Redeveloper is unable to finance the
proposed project without the assistance provided under this Redevelopment
Contract.
(f) The Authority has determined that the costs and benefits of the Project, including
costs and benefits to other affected political subdivisions (and documented the same as part
of the cost benefit analysis contained in the Redevelopment Plan), the economy of the
community, and the demand for public and private services have been analyzed by the
Authority and have been found to be in the long-term best interest of the community
impacted by the Project.
(g) The Authority has determined that the proposed land uses and building
requirements in the Redevelopment 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.
Section 2.02 Representations of Redeveloper.
The Redeveloper makes the following representations:
(a) The Redeveloper is a Nebraska limited liability company, having the power
to enter into this Redevelopment Contract and perform all obligations contained herein and
by proper action has been duly authorized to execute and deliver this Redevelopment
Contract. Prior to the execution and delivery of this Redevelopment Contract, the
Redeveloper has delivered to the Authority a certificate of good standing, a certified copy
of the Redeveloper's by-laws, organizational documents and a certified copy of the
resolution or resolutions authorizing the execution and delivery of this Redevelopment
Contract.
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(b) The execution and delivery of this Redevelopment Contract and the
consummation of the transactions herein contemplated will not conflict with or constitute a
breach of or default under any Note, debenture, note or other evidence of indebtedness or
any contract, loan agreement or lease to which Redeveloper is a party or by which it is
bound, or result in the creation or imposition of any lien, charge or encumbrance of any
nature upon any of the property or assets of the Redeveloper contrary to the terms of any
instrument or agreement.
(c) There is no litigation pending or to the best of its knowledge threatened against
Redeveloper affecting its ability to carry out the acquisition, construction, equipping and
furnishing of the Project or the carrying into effect of this Redevelopment Contract or in
any other matter materially affecting the ability to Redeveloper to perform its obligations
hereunder.
(d) The Project would not be economically feasible without the use of tax
increment financing.
(e) The Project would not occur in the Redevelopment Project Area without the
use of tax-increment financing.
(f) The Redeveloper certifies that it has not and will not apply for (i) tax
incentives under the Nebraska Advantage Act or the ImagiNE Act for a project located or
to be located within the redevelopment project area; (ii) a refund of the city’s local option
sales tax revenue; and (iii) no application has been made or approved under the Nebraska
Advantage Act or the ImagiNE Act.
ARTICLE III
OBLIGATIONS OF THE AUTHORITY
Section 3.01 Division of Taxes.
In accordance with Section 18-2147 of the Act and the terms of the Resolution, the
Authority hereby provides that any ad valorem tax on any Lot or Lots located in the
Redevelopment Project Area identified from time to time by the Redeveloper (such Lot or Lots
being referred to herein as a "Phase") as identified in a Redevelopment Contract Amendment
executed on behalf of the Redeveloper and delivered to the Authority in the form attached hereto
as Exhibit E (each, a "Redevelopment Contract Amendment") for the benefit of any public body
be divided for a period of fifteen years after the effective date (the “Effective Date”), as described
in Section 18-2147 (1) of the Act (which Effective date shall be the January 1 of the year in which
the division of taxes occurs which shall be the Division Date as described in Exhibit E) of this
provision as set forth in a Redevelopment Contract Amendment, consistent with the
Redevelopment Plan. Said taxes shall be divided as follows:
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Procon Flex Industrial Area 5 Contract 7
(a) That portion of the ad valorem tax on real property in each Phase which is
produced by levy at the rate fixed each year by or for each public body upon the
"redevelopment project valuation" (as defined in the Act) of the Lots within such Phase
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 each Phase in excess of
such amount (the "Incremental Ad Valorem Tax"), if any, shall be allocated to, is pledged
to, and, when collected, paid into a special fund of the Authority (designated in the
Resolution as the "Note Fund") to pay the principal of, the interest on, and any premium
due in connection with the Indebtedness. When such 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 Phase shall be paid into the
funds of the respective public bodies.
Provided a Redevelopment Contract Amendment in form attached hereto as Exhibit E and
signed by the Redeveloper, and a proposed form of “Notice to Divide Tax for Community
Redevelopment Project”, all prepared in accordance with this Redevelopment Contract and the
Act) is delivered to the Authority no later than July 1 of any year, the Authority shall: (a) execute
the Redevelopment Contract Amendment, and (b) file before August 1 of such year a "Notice to
Divide Tax for Community Redevelopment Project" for such Phase with the office of the Hall
County Treasurer and Hall County Assessor, without requirement of additional hearings or public
notice.
No Redevelopment Contract Amendment providing for the division of taxes pursuant to
this Redevelopment Contract and Section 18-2147 of the Act shall be made after July 31, 2027.
Section 3.02 Issuance of Indebtedness
The Authority shall authorize the issuance of the Indebtedness in the form and stated
principal amount and bearing interest and being subject to such terms and conditions as are
specified in the Resolution and this Redevelopment Contract; provided, at all times the maximum
amount of the Indebtedness shall be limited to the lesser of (i) the stated face amount of the
Indebtedness, or (ii) the sum of all Project Costs incurred by the Redeveloper as set forth on Exhibit
D. No Indebtedness will be issued until Redeveloper has acquired fee title to the Redevelopment
Project Property and become obligated for construction of the additions and improvements
forming a part of the Project as described in the Plan.
Prior to December 1, 2021, the Authority shall issue one Tax Increment Revenue Note, in
one taxable series, in a maximum principal amount of $1,307,858, in substantially the form shown
on the attached Exhibit C (“TIF Note”), for net funds available to be purchased by Redeveloper
(“TIF Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Note
proceeds from the TIF Note Purchaser in said amount. At the option of the Redeveloper, the
Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Note
Purchaser’s obligation to purchase the TIF Note. Subject to the terms of this Agreement and the
Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to
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Procon Flex Industrial Area 5 Contract 8
determine the timing of issuing the Indebtedness and all the other necessary details of the
Indebtedness.
The Redeveloper agrees to purchase the Indebtedness at a price equal to the principal
amount thereof, in a private placement satisfactory to the Authority as to its terms and participants
(including any pledgee thereof). Neither the Authority nor the City shall have any obligation to
provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect
the sale of the Indebtedness by purchasing the Indebtedness in accordance with the terms of this
Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its
understanding and the Authority's understanding that interest on the Indebtedness will be
includable in gross income for federal income tax purposes and subject to Nebraska State income
taxation.
Section 3.03 Pledge of Revenues.
Under the terms of the Resolution, the Authority pledges 100% of the available annual TIF
Revenues derived from the Redevelopment Project Property as security for and to provide payment
of the Indebtedness as the same fall due (including payment of any mandatory redemption amounts
set for the Indebtedness in accordance with the terms of the Resolution).
Section 3.04 Purchase and Pledge of Indebtedness/Grant of Net Proceeds of Indebtedness.
The Redeveloper has agreed to purchase the Indebtedness from the Authority for a price
equal to the principal amount thereof, payable as provided in Section 3.02 and this Section 3.04.
In accordance with the terms of the Redevelopment Plan the Redeveloper is to receive one or more
grants to pay the costs for reimbursement of site acquisition, including easements, site preparation
costs, public infrastructure costs and utilities including those items as described on Exhibit D (the
"Project Costs"), in the aggregate maximum amount not to exceed $1,307,858. Notwithstanding
the foregoing, the aggregate amount of the Indebtedness and the grant shall not exceed the amount
of Project Costs as certified pursuant to Section 4.02 of this Redevelopment Contract. Such grants
shall be made to the Redeveloper upon certification of Project Costs for as set forth herein and in
the Resolution, and payment purchase of the Indebtedness as provided in Section 3.02, unless
Redeveloper elects to offset the payment of the purchase of the Indebtedness with the grant
proceeds as provided herein and in the Resolution. The Authority shall have no obligation to
provide grant funds from any source other than as set forth in the Resolution and this
Redevelopment Contract.
Section 3.05 Creation of Funds.
In the Resolution, the Authority has provided for the creation of the following funds and
accounts which funds shall be held by the Authority separate and apart from all other funds and
moneys of the Authority and the City:
(a) a special trust fund called the “Procon Redevelopment Project Note Fund” (the “Note Fund”).
All of the TIF Revenues shall be deposited into the Note Fund. The TIF Revenues accumulated in
the Note Fund shall be used and applied on the Business Day prior to each Interest Payment Date (i)
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Procon Flex Industrial Area 5 Contract 9
to make any payments to the City or the Authority as may be required under the Redevelopment
Contract and (ii) to pay principal of or interest on the Note to the extent of any money then remaining
the Note Fund on such Interest Payment Date. Money in the Note Fund shall be used solely for the
purposes described herein and in the Resolution. All Revenues received through and including
December 31, 2043 shall be used solely for the payments required herein and by the Resolution; and
(b) a special trust fund called the “Procon Redevelopment Project Fund” (the “Project Fund”) The
Authority shall disburse any money on deposit in the Project Fund from time to time to pay or as
reimbursement for payment made for the Project Costs in each case within 5 Business Days after
completion of the steps set forth herein and in the Resolution. If a sufficient amount to pay a properly
completed Disbursement Request (as defined in Section 4.02) is not in the Project Fund at the time of
the receipt by the Authority of such request, the Authority shall notify the owner of the Note and such
owner may deposit an amount sufficient to pay such request with the Authority for such payment. As
set forth in the Resolution, if the Redeveloper is the owner of the Note and the Redeveloper so elects,
the Authority shall make a grant to Redeveloper in the amount of an approved Disbursement Request;
in such event, the approved Disbursement Request amount shall offset funding of the Note.
ARTICLE IV
OBLIGATIONS OF REDEVELOPER
Section 4.01 Construction of Project; Note; Insurance.
(a) Redeveloper will acquire the Project and prepare the site for redevelopment. And
construct the proposed buildings pursuant to redevelopment plan amendment.
Redeveloper will also complete any required public infrastructure improvements for the
proposed project.
Redeveloper shall pay for the costs of the above public infrastructure from the grant(s)
provided in Section 3.04 hereof. Redeveloper shall be solely responsible for obtaining all permits
and approvals necessary to acquire, construct and equip the Project. Until construction of the
Project has been completed, Redeveloper shall make reports in such detail and at such times as
may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect
to construction of the Project. Such reports shall include actual expenditures incurred as described
on Exhibit D.
(b) Any general contractor chosen by the Redeveloper shall be required to obtain and keep
in force at all times until completion of construction for all phases of construction, policies of
insurance including coverage for contractors' general liability and completed operations and a
penal Note or Notes as required by the Act or as is otherwise required by law. The City, the
Authority and the Redeveloper shall be named as additional insureds. Any contractor chosen by
the Redeveloper or the Redeveloper itself, as owner, shall be required to purchase and maintain
property insurance upon the Project to the full insurable value thereof. This insurance shall insure
against the perils of fire and extended coverage and shall include 'All Risk" insurance for physical
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Procon Flex Industrial Area 5 Contract 10
loss or damage. The contractor with respect to any specific contract or the Redeveloper shall also
carry insurance on all stored materials. The contractor or the Redeveloper, as the case may be,
shall furnish the Authority and the City with a Certificate of Insurance evidencing policies as
required above. Such certificates shall state that the insurance companies shall give the Authority
prior written notice in the event of cancellation of or material change in any of any of the policies.
(c) Notwithstanding any provision herein to the contrary, in the event Redeveloper has not
acquired fee simple title to the Redevelopment Project Area on or before November 30, 2021, this
Redevelopment Contract shall be null and void and of no force or effect effective as of the date of
execution hereof, and neither party shall have any liability or obligation to the other party with
respect hereto.
Section 4.02 Cost Certification & Disbursement of Note Proceeds.
Proceeds of the Indebtedness may be advanced and disbursed in the manner set forth below:
(a) There shall be submitted to the Authority a grant disbursement request (the
“Disbursement Request”), executed by the City’s Finance Director and an authorized representative
of the Redeveloper, (i) certifying that a portion of the Project constituting and Infrastructure Phase
has been substantially completed and (ii) certifying the actual costs incurred by the Redeveloper in
the completion of such portion of the Project.
(b) If the costs requested for reimbursement under the Disbursement Request are
currently reimbursable under Exhibit D of this Redevelopment Contract and the Community
Redevelopment Law, the Authority shall evidence such allocation in writing and inform the owner of
the Note of any amounts allocated to the Note.
(c) Upon notification from the Authority as described in Section 4.02(b), deposits to the
accounts in the Project Fund may be made from time to time from funds received by the Authority
from the owner of the Note (if other than the Redeveloper) in the amounts necessary to pay amounts
requested in properly completed, signed and approved written Disbursement Requests as described
herein. Such amounts shall be proceeds of the Note and the Treasurer of the Authority shall inform
the Registrar (as defined in the Note Resolution) in writing of the date and amount of such deposits.
At the option of the Redeveloper, if the Redeveloper is the owner of the Note, the Authority shall
make a grant to Redeveloper in the amount of the approved Disbursement Request; in such event, the
approved Disbursement Request amount shall offset funding of the Note. The Registrar shall keep
and maintain a record of the amounts deposited into the Project Fund from Note proceeds pursuant to
the terms of this Resolution as “Principal Amount Advanced” and shall enter the aggregate principal
amount then Outstanding as the “Cumulative Outstanding Principal Amount” on its records
maintained for the Note. The aggregate amount deposited into the Project Fund from proceeds of the
Note shall not exceed $1,307,858.
Section 4.03 No Discrimination.
Redeveloper agrees and covenants for itself its successors and assigns that it will not
discriminate against any person or group of persons on account of race, sex, color, religion,
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national origin, ancestry, disability, marital status or receipt of public assistance in connection with
the Project. Redeveloper, for itself and its successors and assigns, agrees that during the
construction of the Project, Redeveloper will not discriminate against any employee or applicant
for employment because of race, religion, sex, color, national origin, ancestry, disability, marital
status or receipt of public assistance. Redeveloper will comply with all applicable federal, state
and local laws related to the Project.
Section 4.04 Assignment or Conveyance.
This Redevelopment Contract shall not be assigned by the Redeveloper without the written
consent of the Authority. Such consent shall not be unreasonably withheld. Redeveloper agrees
that it shall not convey any Lot or any portion thereof or any structures thereon to any person or
entity that would be exempt from payment of real estate taxes, and that it will not make application
for any structure, or any portion thereof, to be taxed separately from the underlying land of any
Lot.
Section 4.05 Record retention. Redeveloper shall retain copies of all supporting documents that
are associated with the redevelopment plan or redevelopment project and that are received or
generated by the redeveloper for three years following the end of the last fiscal year in which ad
valorem taxes are divided and provide such copies to the city as needed to comply with the city’s
retention requirements under section 18-2117.04 of the Act. Supporting document includes any
cost-benefit analysis conducted pursuant to section 18-2113 of the Act and any invoice, receipt,
claim, or contract received or generated by the redeveloper that provides support for receipts or
payments associated with the division of taxes.
Section 4.06 Payment of Costs.
The Redeveloper shall pay to the Authority or its designee the following sums on the execution
hereof:
$3,000 for administrative and accounting costs.
$4,500 for legal fees.
ARTICLE V
FINANCING REDEVELOPMENT PROJECT; ENCUMBRANCES
Section 5.01 Financing
Redeveloper shall pay all costs related to the redevelopment of the Redevelopment Project
Area and the Redevelopment Project Property which are in excess of the amounts paid from the
proceeds of the grant provided from the proceeds of the Indebtedness and granted to Redeveloper.
Redeveloper shall timely pay all costs, expenses, fees, charges and other amounts associated with
the Project.
ARTICLE VI
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DEFAULT, REMEDIES; INDEMNIFICATION
Section 6.01 General Remedies of Authority and Redeveloper.
Subject to the further provisions of this Article VI, in the event of any failure to perform
or breach of this Redevelopment Contract or any of its terms or conditions, by any party hereto
or any successor to such party, such party, or successor, shall, upon written notice from the other,
proceed immediately to commence such actions as may be reasonably designed to cure or
remedy such failure to perform or breach which cure or remedy shall be accomplished within a
reasonable time by the diligent pursuit of corrective action. In case such action is not taken, or
diligently pursued, or the failure to perform or breach shall not be cured or remedied within a
reasonable time, this Redevelopment Contract shall be in default and the aggrieved party may
institute such proceedings as may be necessary or desirable to enforce its rights under this
Redevelopment Contract, including, but not limited to, proceedings to compel specific
performance by the party failing to perform or in breach of its obligations. The Redeveloper
hereby acknowledges and agrees that the Authority shall have completed its required
performances and satisfied all of its obligations under this Redevelopment Contract upon the
issuance of the Indebtedness and the subsequent payment of grant amounts to the Redeveloper as
set forth in Article III hereof and by complying with the obligations of all Redevelopment
Contract Amendments.
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Section 6.02 Additional Remedies of Authority
In the event that (each such event an "event of default"):
(a) the Redeveloper, or its successor in interest, shall fail to commence the
construction of the Project on or before May 1, 2022, or shall abandon construction work
related to the Project Costs, once commenced, for any period of 180 days, excepting delays
caused by inclement weather,
(b) the Redeveloper, shall fail to pay real estate taxes or assessments on the
Redevelopment Project Property owned by the Redeveloper or any part thereof when due;
and
(c) there is a violation of any other provision of this Redevelopment Contract, and
such failure or action by the Redeveloper has not been cured within 90 days following
written notice from Authority, then the Redeveloper shall be in default of this
Redevelopment Contract.
In the event of such failure to perform, breach or default occurs and is not cured in the
period herein provided, the parties agree that the damages caused to the Authority would be
difficult to determine with certainty and that a reasonable estimation of the amount of damages
that could be incurred is the amount of the grant to Redeveloper pursuant to Section 3.04 of this
Redevelopment Contract, less any reductions in the principal amount of the Indebtedness, plus
interest on such amounts as provided herein (the "Liquidated Damages Amount"). Upon the
occurrence of an event of default, the Liquidated Damages Amount shall be paid by Redeveloper
to Authority within 30 days of demand from Authority given to the Redeveloper.
Interest shall accrue on the Liquidated Damages Amount at the rate of three percent (3%)
per annum and interest shall commence from the date that the Authority gives notice to the
Redeveloper demanding payment.
Payment of the Liquidated Damages Amount shall not relieve Redeveloper of its obligation
to pay real estate taxes or assessments with respect to the Redevelopment Project Property and the
Project.
Redeveloper, on or before contracting for work included within the Project Costs, shall
furnish to the Authority copies of labor and materials payment Notes and performance Notes for
each contract entered into by Redeveloper related to Project Costs. Each such Note shall show the
Authority and the City as well as the Redeveloper as beneficiary of any such Note, as and to the
extent commercially obtainable (as determined in the discretion of the Authority). In addition, the
Redeveloper shall provide a penal Note with good and sufficient surety to be approved by the
Authority, conditioned that the Redeveloper shall at all times promptly make payments of all
amounts lawfully due to all persons supplying or furnishing to any contractor or his or her
subcontractors (for each contract entered into by Redeveloper related to Project Costs) with labor
or materials performed or used in the prosecution of the work provided for in such contract, and
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Procon Flex Industrial Area 5 Contract 14
will indemnify and save harmless the Authority to the extent of any payments in connection with
the carrying out of such contracts which the Authority may be required to make under the law.
Section 6.03 Remedies in the Event of Other Redeveloper Defaults.
In the event the Redeveloper fails to perform any other provisions of this Redevelopment
Contract (other than those specific provisions contained in Section 6.02), the Redeveloper shall be
in default. In such an instance, the Authority may seek to enforce the terms of this Redevelopment
Contract or exercise any other remedies that may be provided in this Redevelopment Contract or
by applicable law; provided, however, that any defaults covered by this Section shall not give rise
to a right or rescission on termination of this Redevelopment Contract, and shall not be covered
by the Liquidated Damages Amount.
Section 6.04 Forced Delay Beyond Party's Control.
For the purposes of any of the provisions of this Redevelopment Contract, neither the
Authority nor the Redeveloper, as the case may be, nor any successor in interest, shall be
considered in breach of or default in its obligations with respect to the conveyance or preparation
of the Redevelopment Area or any part thereof for redevelopment, or the beginning and completion
of construction of the Project, or progress in respect thereto, in the event of forced delay in the
performance of such obligations due to unforeseeable causes beyond its control and without its
fault or negligence, including, but not restricted to, acts of God, or of the public enemy, acts of the
Government, acts of the other party, fires, floods, epidemics, quarantine restrictions, strikes, freight
embargoes, and unusually severe weather or delays in subcontractors due to such causes; it being
the purpose and intent of this provision that in the event of the occurrence of any such forced delay,
the time or times for performance of the obligations of the Authority or of the Redeveloper with
respect to construction of the Project, as the case may be, shall be extended for the period of the
forced delay: Provided, that the party seeking the benefit of the provisions of this section shall,
within thirty (30) days after the beginning of any such forced delay, have first notified the other
party thereto in writing, and of the cause or causes thereof and requested an extension for the
period of the forced delay.
Section 6.05 Limitations of Liability; Indemnification.
Notwithstanding anything in this Article VI or this Redevelopment Contract to the contrary,
neither the City, the Authority, nor their respective elected officials, officers, directors, appointed
officials, employees, agents or their governing bodies shall have any pecuniary obligation or
monetary liability under this Redevelopment Contract. The sole obligation of the Authority under
this Redevelopment Contract shall be the issuance of the Indebtedness and granting of a portion
of the proceeds thereof to Redeveloper, and full compliance with the terms specifically set forth
Article III hereof and payment of TIF Revenues pledged pursuant to the Resolution. The
Redeveloper releases the City and Authority from, agrees that neither the City nor Authority shall
be liable for, and agrees to indemnify and hold the City and Authority harmless from any liability
for any loss or damage to property or any injury to or death of any person that may be occasioned
by any cause whatsoever pertaining to the Project.
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Procon Flex Industrial Area 5 Contract 15
The Redeveloper will indemnify and hold each of the City and Authority and their
respective elected officials, directors, officers, appointed officials, agents, employees and members
of their governing bodies free and harmless from any loss, claim, damage, demand, tax, penalty,
liability, disbursement, expense, excluding litigation expenses, attorneys' fees and expenses, or
court costs arising out of any damage or injury, actual or claimed, of whatsoever kind or character,
to property (including loss of use thereof) or persons, occurring or allegedly occurring in, on or
about that portion of the Project owned by the Redeveloper, during the term of this Redevelopment
Contract or arising out of any action or inaction of Redeveloper, related to activities of the
Redeveloper or its agents during the construction of the public infrastructure or public right of
ways in the Project.
ARTICLE VII
MISCELLANEOUS
Section 7.01 Notice Recording
This Redevelopment Contract or a notice memorandum of this Redevelopment Contract
may be recorded in the office of the Register of Deeds of Hall County, Nebraska.
Section 7.02 Governing Law.
This Redevelopment Contract shall be governed by the laws of the State of Nebraska,
including but not limited to the Act.
Section 7.03 Binding Effect: Amendment, Assignment.
This Redevelopment Contract shall be binding on the parties hereto and their respective
successors and assigns. The Redevelopment Contract shall not be amended except by a writing
signed by the party to be bound. The Redeveloper may assign its rights and obligations to a
controlled entity which shall be bound by all the terms hereof.
Section 7.04 Effective Date and Implementation of Redevelopment Contract.
This Agreement is in full force and effect from and after the date of execution hereof by
both the Redeveloper and the Authority.
Section 7.04 Notices to Parties.
Notices to Parties shall be mailed by U. S. Mail to the following addresses:
Redeveloper:
Procon Properties, LLC
1522 Stagecoach Road
Grand Island, NE 68801
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Authority and City:
Director
Grand Island Community Redevelopment Authority
Hall County Regional Planning Department
100 E 1st Street
P.O. Box 1968
Grand Island, NE 68802
IN WITNESS WHEREOF, Authority and Redeveloper have signed this Redevelopment
Contract as of the date and year first above written.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
ATTEST: GRAND ISLAND, NEBRASKA
____________________________ By:________________________
Secretary Chairman
STATE OF NEBRASKA )
) SS
COUNTY OF HALL )
The foregoing instrument was acknowledged before me this ______ day of 2021, by
________________ and ________________, Chairman and Secretary, respectively, of the
Community Redevelopment Authority of the City of Grand Island, Nebraska, on behalf of the
Authority.
____________________________
Notary Public
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Procon Flex Industrial Area 5 Contract 17
PROCON PROPERTIES, LLC
By:______________________
Manager
STATE OF NEBRASKA)
) SS
COUNTY OF HALL)
The foregoing instrument was acknowledged before me this ______ day of _____,2021, by
_______________________, Manager of Procon Properties, LLC, on behalf of the limited liability
company.
________________________
Notary Public
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Procon Flex Industrial Area 5 Contract 18
EXHIBIT A
DESCRIPTION OF REDEVELOPMENT AREA
All of Lots 1-6 of Sunny Side Third Subdivision in the City of Grand Island, Hall County,
Nebraska.
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Procon Flex Industrial Area 5 Contract 19
EXHIBIT B
REDEVELOPMENT PLAN
[Attach copy of Redevelopment Plan]
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Procon Flex Industrial Area 5 Contract 20
EXHIBIT C
(FORM OF NOTE)
UNITED STATES OF AMERICA
STATE OF NEBRASKA
COUNTY OF HALL
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
TAX INCREMENT DEVELOPMENT REVENUE NOTE
(PROCON REDEVELOPMENT PROJECT), SERIES 2021
No. R-1 Up to $1,307,858
(subject to reduction as described herein)
Date of Date of Rate of
Original Issue Maturity Interest
December 31, 2043* 0.0%
REGISTERED OWNER: Procon Properties, LLC
PRINCIPAL AMOUNT: SEE SCHEDULE 1 ATTACHED HERETO
REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE NOTE
SET FORTH ON THE FOLLOWING PAGES, WHICH FURTHER PROVISIONS SHALL FOR
ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.
IN WITNESS WHEREOF, THE COMMUNITY REDEVELOPMENT AUTHORITY OF
THE CITY OF GRAND ISLAND, NEBRASKA has caused this Note to be signed by the manual
signature of the Chairman of the Authority, countersigned by the manual signature of the Clerk of the City,
and the City’s corporate seal imprinted hereon.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA
[S E A L]
By: (manual signature)
Chairman
By: (manual signature)
Clerk
* or, if sooner, fifteen years after the last effective date established for a Phase under the terms of the
Redevelopment Contract
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Procon Flex Industrial Area 5 Contract 21
The COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA (the “Authority”) acknowledges itself indebted to, and for value received hereby
promises to pay, but solely from certain specified tax revenues and other funds hereinafter specified, to the
Registered Owner named above, or registered assigns, on the Date of Maturity stated above (or earlier as
hereinafter referred to), the Principal Amount on Schedule 1 attached hereto upon presentation and
surrender hereof at the office of the registrar and paying agent herefor, the Treasurer of the City of Grand
Island, Nebraska (the “Registrar”), and in like manner to pay interest on the Cumulative Outstanding
Principal Amount reflected in Schedule 1 at the Rate of Interest stated above, calculated on the basis of a
360-day year consisting of twelve, 30-day months, from the Date of Original Issue stated above, or the most
recent interest payment date to which interest has been paid or duly provided for, as specified below, to
maturity or earlier redemption, payable semiannually on June 1 and December 1 of each year until payment
in full of such Principal Amount, beginning June 1, 2023, by check or draft mailed to the Registered Owner
hereof as shown on the Note registration books maintained by the Registrar on the 15th day of the month
preceding the month in which the applicable interest payment date occurs, at such Owner’s address as it
appears on such Note registration books. The principal of this Note and the interest hereon are payable in
any coin or currency which on the respective dates of payment thereof is legal tender for the payment of
debts due the United States of America.
This Note is issued by the Authority under the authority of and in full compliance with the
Constitution and statutes of the State of Nebraska, including particularly Article VIII, Section 12 of the
Nebraska Constitution, Sections 18-2101 to 18-2153, inclusive, Reissue Revised Statutes of Nebraska, as
amended, and under and pursuant to Resolution No. ________ duly passed and adopted by the Authority on
_____________, 2021, as from time to time amended and supplemented (the “Resolution”).
THE PRINCIPAL AMOUNT OF THIS NOTE IS SET FORTH IN SCHEDULE 1
ATTACHED HERETO. THE MAXIMUM PRINCIPAL AMOUNT OF THIS NOTE IS $1,307,858.
This Note is a special limited obligation of the Authority payable as to principal and interest solely
from and is secured solely by the Revenue (as defined in the Resolution) and certain other money, funds and
securities pledged under the Resolution, all on the terms and conditions set forth in the Resolution. The
Revenue represents that portion of ad valorem taxes levied by public bodies of the State of Nebraska, including
the City, on real property in the Project Area (as defined in this Resolution) which is in excess of that portion
of such ad valorem taxes produced by the levy at the rate fixed each year by or for each such public body
upon the valuation of the Project Area as of a certain date and as has been certified by the County Assessor of
Hall County, Nebraska to the City in accordance with law.
Reference is hereby made to the Resolution for the provisions, among others, with respect to the
collection and disposition of certain tax and other revenues, the special funds charged with and pledged to the
payment of the principal of and interest on this Note, the nature and extent of the security thereby created, the
terms and conditions under which this Note has been issued, the rights and remedies of the Registered Owner
of this Note, and the rights, duties, immunities and obligations of the City and the Authority. By the
acceptance of this Note, the Registered Owner assents to all of the provisions of the Resolution.
The principal of and interest hereon shall not be payable from the general funds of the City nor the
Authority nor shall this Note constitute a legal or equitable pledge, charge, lien, security interest or
encumbrance upon any of the property or upon any of the income, receipts, or money and securities of the
City or the Authority or of any other party other than those specifically pledged under the Resolution. This
Note is not a debt of the City or the Authority within the meaning of any constitutional, statutory or charter
limitation upon the creation of general obligation indebtedness of the City or the Authority, and does not
impose any general liability upon the City or the Authority and neither the City nor the Authority shall be
liable for the payment hereof out of any funds of the City or the Authority other than the Revenues and other
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Procon Flex Industrial Area 5 Contract 22
funds pledged under the Resolution, which Revenues and other funds have been and hereby are pledged to
the punctual payment of the principal of and interest on this Note in accordance with the provisions of this
Resolution.
The Registered Owner may from time to time enter the respective amounts advanced pursuant to the
terms of the Resolution under the column headed “Principal Amount Advanced” on Schedule 1 hereto (the
“Table”) and may enter the aggregate principal amount of this Note then outstanding under the column
headed “Cumulative Outstanding Principal Amount” on the Table. On each date upon which a portion of the
Cumulative Outstanding Principal Amount is paid to the Registered Owner pursuant to the redemption
provisions of the Resolution, the Registered Owner may enter the principal amount paid on this Note under
the column headed “Principal Amount Redeemed” on the Table and may enter the then outstanding principal
amount of this Note under the column headed “Cumulative Outstanding Principal Amount” on the Table.
Notwithstanding the foregoing, the records maintained by the Trustee as to the principal amount issued and
principal amounts paid on this Note shall be the official records of the Cumulative Outstanding Principal
Amount of this Note for all purposes.
Reference is hereby made to the Resolution, a copy of which is on file in the office of the City Clerk,
and to all of the provisions of which each Owner of this Note by its acceptance hereof hereby assents, for
definitions of terms; the description of and the nature and extent of the security for this Note; the Revenue and
other money and securities pledged to the payment of the principal of and interest on this Note; the nature and
extent and manner of enforcement of the pledge; the conditions upon which the Resolution may be amended
or supplemented with or without the consent of the Owner of this Note; the rights, duties and obligations of
the Authority and the Registrar thereunder; the terms and provisions upon which the liens, pledges, charges,
trusts and covenants made therein may be discharged at or prior to the maturity or redemption of this Note,
and this Note thereafter no longer be secured by the Resolution or be deemed to be outstanding thereunder, if
money or certain specified securities shall have been deposited with the Registrar sufficient and held in trust
solely for the payment hereof; and for the other terms and provisions thereof.
This Note is subject to redemption prior to maturity, at the option of the Authority, in whole or in part
at any time at a redemption price equal to 100% of the principal amount being redeemed, plus accrued interest
on such principal amount to the date fixed for redemption. Reference is hereby made to the Resolution for a
description of the redemption procedures and the notice requirements pertaining thereto.
In the event this Note is called for prior redemption, notice of such redemption shall be given by first-
class mail to the Registered Owner hereof at its address as shown on the registration books maintained by the
Registrar not less than 10 days prior to the date fixed for redemption, unless waived by the Registered Owner
hereof. If this Note, or any portion thereof, shall have been duly called for redemption and notice of such
redemption duly given as provided, then upon such redemption date the portion of this Note so redeemed shall
become due and payable and if money for the payment of the portion of the Note so redeemed and the accrued
interest thereon to the date fixed for redemption shall be held for the purpose of such payment by the Registrar,
interest shall cease to accrue and become payable hereon from and after the redemption date.
This Note is transferable by the Registered Owner hereof in person or by its attorney or legal
representative duly authorized in writing at the principal office of the Registrar, but only in the manner, subject
to the limitations and upon payment of the charges provided in the Resolution, and upon surrender and
cancellation of this Note. Upon such transfer, a new Note of the same series and maturity and for the same
principal amount will be issued to the transferee in exchange therefor. The Authority and the Registrar may
deem and treat the Registered Owner hereof as the absolute owner hereof for the purpose of receiving payment
of or on account of principal of and interest due hereon and for all other purposes.
This Note is being issued as a registered Note without coupons. This Note is subject to exchange as
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Procon Flex Industrial Area 5 Contract 23
provided in the Resolution.
It is hereby certified, recited and declared that all acts, conditions and things required to have
happened, to exist and to have been performed precedent to and in the issuance of this Note have happened,
do exist and have been performed in regular and due time, form and manner; that this Note does not exceed
any constitutional, statutory or charter limitation on indebtedness; and that provision has been made for the
payment of the principal of and interest on this Note as provided in this Resolution.
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Procon Flex Industrial Area 5 Contract 24
(FORM OF ASSIGNMENT)
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
___________________________________________________________________________
Print or Type Name, Address and Social Security Number
or other Taxpayer Identification Number of Transferee
the within Note and all rights thereunder, and hereby irrevocably constitutes and appoints
_______________ agent to transfer the within Note on the Note register kept by the Registrar for the
registration thereof, with full power of substitution in the premises.
Dated: _______________ ____________________________________
NOTICE: The signature to this Assignment must
correspond with the name of the Registered
Owner as it appears upon the face of the within
Note in every particular.
Signature Guaranteed By:
____________________________________
Name of Eligible Guarantor Institution as defined
by SEC Rule 17 Ad-15 (17 CFR 240.17 Ad-15)
By:________________________________
Title:_______________________________
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Procon Flex Industrial Area 5 Contract 25
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SCHEDULE 1
TABLE OF CUMULATIVE OUTSTANDING PRINCIPAL AMOUNT
COMMUNITY REDEVELOPMENT AUTHORITY OF
THE CITY OF GRAND ISLAND, NEBRASKA
PROCON REDEVELOPMENT PROJECT
TAX INCREMENT DEVELOPMENT REVENUE NOTE, SERIES 2021
Date
Principal Amount
Advanced
Principal Amount
Redeemed
Cumulative
Outstanding
Principal
Amount
Notation
Made
By
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Procon Flex Industrial Area 5 Contract 26
Exhibit D
Project Costs
Eligible Costs to be reimbursed from TIF Funds
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
Costs may vary between categories. A shift of costs per category is contemplated and approved
not to exceed the total.
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Procon Flex Industrial Area 5 Contract 27
EXHIBIT E
AMENDMENT TO REDEVELOPMENT CONTRACT
Amendment No. ____
This Amendment to Redevelopment Contract (this "Amendment") is made and entered into
as of the _______day of ___________, 20___, by and between the Community Redevelopment
Authority of the City of Grand Island, Nebraska ("Authority"), and Procon Properties, LLC, a
Nebraska limited liability company ("Redeveloper").
RECITALS
WHEREAS, Authority and Redeveloper entered into a Redevelopment Contract, dated as
of ______________, 2021 (the "Contract");
WHEREAS, the Contract intended to implement the redevelopment plan entitled
“Redevelopment Plan Amendment Grand Island CRA Area 1, July 2021, Procon Properties, LLC,
Project”, (the “Redevelopment Plan”) to provide for the redevelopment of lots and lands located
in a blighted and substandard area of the City of Grand Island, Nebraska (the “City”);
WHEREAS, in order to assist in the financing of the Redevelopment Project described in
the Redevelopment Plan, the Contract provides for periodic amendments thereto; and
WHEREAS, pursuant to Section 3.01 of the Contract the parties desire to amend the
Contract on the terms set forth herein and this Amendment shall constitute a "Redevelopment
Contract Amendment" as defined in the Contract.
NOW, THEREFORE, in consideration of the mutual covenants and agreements herein set
forth, Authority and Redeveloper do hereby agree to amend the Contract as follows:
1. Definitions. All capitalized terms used in this Amendment and not otherwise
defined herein shall have the meanings ascribed to such terms in the Contract.
2. Amendment – New Phase. This Amendment incorporates a new Phase to the
Project entitled [Phase No. ____].
(a) Lots. This new Phase shall include all of Lots in the Redevelopment Project
Area for which a building permit has been issued by the City during the calendar year prior
to the Effective Date described in Section 2 (b) hereof, which lots are described as follows:
[identification of such Lot(s) including the legal description of each]
(b) Effective Date. The effective date of the Amendment shall be January 1,
20___. [The effective date shall be the January 1st of the year following the issuance of a
building permit for a building to be constructed on a Lot described in Section 2 (a) hereof.]
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Procon Flex Industrial Area 5 Contract 28
(c) Division Date. The Division Date (the “Division Date”) shall mean the
effective date for purposes of dividing taxes pursuant to Section 18-2147 of the Nebraska
Community Development Law. The Division Date for the applicable Phase shall be
January 1, 20___; and a proposed form of the "Notice to Divide Tax for Community
Redevelopment Project" applicable to such Phase is attached hereto as Exhibit A and
incorporated herein by this reference. [The Division Date shall be the January 1st of the
year following the issuance of a building permit for a building to be constructed on a Lot
described in Section 2 (a) hereof.] For purposes of the Notice to Divide Tax for
Community Redevelopment Project, the calendar year in which the division of real
property tax becomes effective shall be the year of the Division Date.
(d) Base Value Year. The base value year for such Phase shall be 20___. [The
Base Value Year, shall mean the calendar year prior to the Division Date described in
Section 2 (c) hereof.] For purposes of the Notice to Divide Tax for Community
Redevelopment Project, the Base value Year shall be the year defined in this Section 2 (d).
3. Requirement to File Notice to Divide Tax for Community Redevelopment Project.
The Authority shall execute and file with the Hall County Assessor and Treasurer a signed original
of Exhibit A, attached hereto, being the Notice to Divide Tax for Community Redevelopment
Project, prior to August 1, 20__. [This date shall be the August 1 following the Division Date
described in Section 2 (c) hereof.]
4. Miscellaneous Provisions.
(a) Effectiveness. This Amendment shall become effective when and only
when counterparts of this Amendment have been duly executed by both Authority and
Redeveloper.
(b) Ratification of Contract. Except as amended by this Amendment, the
Contract shall remain in full force and effect and is hereby ratified and confirmed in all
respects. Each party acknowledges and agrees to all terms of the Contract, as the same are
amended by this Amendment, and makes and restates each representation and warranty set
forth therein as if made on the date of this Amendment.
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Procon Flex Industrial Area 5 Contract 29
IN WITNESS WHEREOF, Authority and Redeveloper have signed this Amendment to
Redevelopment Contract as of the date and year first above written.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
ATTEST: GRAND ISLAND, NEBRASKA
____________________________ By:________________________
Secretary Chairman
PROCON PROPERTIES, LLC
By:______________________
Manager
STATE OF NEBRASKA )
) SS
COUNTY OF HALL )
The foregoing instrument was acknowledged before me this ______ day of ___________,
20___ by ________________ and ________________, Chairman and Secretary, respectively, of
the Community Redevelopment Authority of the City of Grand Island, Nebraska, on behalf of the
Authority.
____________________________
Notary Public
STATE OF NEBRASKA)
) SS
COUNTY OF HALL)
The foregoing instrument was acknowledged before me this _____ day of ___________,
20___, by __________________ of Procon Properties, LLC on behalf of the limited liability
company.
________________________
Notary Public
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Procon Flex Industrial Area 5 Contract 30
EXHIBIT A
Notice to Divide Tax for Community Redevelopment Project
[TO BE ATTACHED]
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Procon Flex Industrial Area 5 Contract 31
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Procon Properties, LLC Flex Industrial Area 5 Bond Resolution 1
COMMUNITY REDEVELOPMENT AUTHORITY OF
THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. ___________
A RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA, TAX INCREMENT DEVELOPMENT REVENUE NOTES
OR OTHER OBLIGATION, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO
EXCEED $1,307,858 FOR THE PURPOSE OF (1) PAYING THE COSTS OF
ACQUIRING, DEMOLISHING, CONSTRUCTING, RECONSTRUCTING,
IMPROVING, EXTENDING, REHABILITATING, INSTALLING, EQUIPPING,
FURNISHING AND COMPLETING CERTAIN IMPROVEMENTS WITHIN THE
AUTHORITY’S PROCON PROPERTIES, LLC REDEVELOPMENT PROJECT
AREA, SPECIFICALLY INCLUDING SITE PURCHASE, PREPARATION,
DEMOLITION, UTILITY EXTENSION AND (2) PAYING THE COSTS OF
ISSUANCE THEREOF; PRESCRIBING THE FORM AND CERTAIN DETAILS OF
THE NOTE OR OTHER OBLIGATION; PLEDGING CERTAIN TAX REVENUE
AND OTHER REVENUE TO THE PAYMENT OF THE PRINCIPAL OF AND
INTEREST ON THE NOTE OR OTHER OBLIGATION AS THE SAME BECOME
DUE; LIMITING PAYMENT OF THE NOTE OR OTHER OBLIGATION TO
SUCH TAX REVENUES; CREATING AND ESTABLISHING FUNDS AND
ACCOUNTS; DELEGATING, AUTHORIZING AND DIRECTING THE FINANCE
DIRECTOR TO EXERCISE HIS OR HER INDEPENDENT DISCRETION AND
JUDGMENT IN DETERMINING AND FINALIZING CERTAIN TERMS AND
PROVISIONS OF THE NOTE OR OTHER OBLIGATION NOT SPECIFIED
HEREIN; APPROVING A REDEVELOPMENT CONTRACT AND
REDEVELOPMENT PLAN; TAKING OTHER ACTIONS AND MAKING OTHER
COVENANTS AND AGREEMENTS IN CONNECTION WITH THE FOREGOING;
AND RELATED MATTERS.
BE IT RESOLVED BY THE MEMBERS OF THE COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA:
ARTICLE I
FINDINGS AND DETERMINATIONS
Section 1.1. Findings and Determinations. The Members of the Community Redevelopment
Authority of the City of Grand Island, Nebraska (the “Authority”) hereby find and determine as follows:
(a) The City of Grand Island, Nebraska (the “City”), pursuant to the Plan Resolution (hereinafter
defined), approved the City of Grand Island Redevelopment Area #5 Plan Amendment July 2021 (the
“Redevelopment Plan”) under and pursuant to which the Authority shall undertake from time to time to
redevelop and rehabilitate the Redevelopment Area (hereinafter defined).
(b) Pursuant to the Redevelopment Plan, the Authority has previously obligated itself and/or will
hereafter obligate itself to provide a portion of the financing to acquire, construct, reconstruct, improve,
extend, rehabilitate, install, equip, furnish and complete, at the cost and expense of the Redeveloper, a
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portion of the improvements (as defined in the Redevelopment Contract hereinafter identified) in the
Redevelopment Area (the “Project Costs”), including, without limitation site acquisition of the Project Site
(as defined in the Redevelopment Contract), (collectively, the “Project”), as more fully described in the
Redevelopment Contract (hereinafter defined).
(c) The Authority is authorized by the Redevelopment Law (hereinafter defined) to issue tax
allocation notes for the purpose of paying the costs and expenses of the Project, the principal of which is
payable from certain tax revenues as set forth in the Redevelopment Law.
(d) In order to provide funds to pay a portion of the costs of the Project, it is necessary, desirable,
advisable, and in the best interest of the Authority for the Authority to issue a Tax Increment Development
Revenue Note or other obligation in an aggregate principal amount not to exceed $1,307,858 (the “Note”).
(e) All conditions, acts and things required to exist or to be done precedent to the issuance of
the Note do exist and have been done as required by law.
ARTICLE II
CERTAIN DEFINITIONS; COMPUTATIONS;
CERTIFICATES AND OPINIONS; ORDERS AND DIRECTIONS
Section 2.1. Definitions of Special Terms. Unless the context clearly indicates some other meaning
or may otherwise require, and in addition to those terms defined elsewhere herein, the terms defined in this
Section 2.1 shall, for all purposes of this Resolution, any Resolution or other instrument amendatory hereof
or supplemental hereto, instrument or document herein or therein mentioned, have the meanings specified
herein, with the following definitions to be equally applicable to both the singular and plural forms of any
terms defined herein:
“Authority” means the Community Redevelopment Authority of the City of Grand Island, Nebraska.
City” means the City of Grand Island, Nebraska.
“Project Costs” means the redevelopment project costs (as defined in the Redevelopment Contract)
in the Redevelopment Area, the costs of which are eligible to be paid from the proceeds of the Note.
“Assessor” means the Assessor of Hall County, Nebraska.
“Note” means the Procon Properties, LLC Redevelopment Project Tax Increment Development
Revenue Note Series 2021 of the Authority, in an aggregate principal amount not to exceed $1,307,858,
issued pursuant to this Resolution and shall include any note, including refunding note, interim certificate,
debenture, or other obligation issued pursuant to the Redevelopment Law. At the option of the Owner of
the Note, the titular designation of such Note may be revised to state note, interim certificate, debenture,
obligation, or such other designation as is appropriate.
“Secretary” means the Secretary of the Authority.
“Cumulative Outstanding Principal Amount” means the aggregate principal amount of the Note
issued and Outstanding from time to time in accordance with the provisions of this Resolution, as reflected in
the records maintained by the Registrar as provided in this Resolution.
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“Date of Original Issue” means the date the Note is initially issued, which shall be the date of the
first allocation of principal on the Note as further described in Section 3.2.
“Debt Service” means, as of any particular date of computation, and with respect to any period, the
amount to be paid or set aside as of such date or such period for the payment of the principal on the Note.
“Escrow Obligations” means (a) Government Obligations, (b) certificates of deposit issued by a
bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar
corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having
an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the
certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar,
or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which
Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to
the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued
by any state of the United States or any political subdivision, public instrumentality or public authority of any
state, which obligations are fully secured by and payable solely from Government Obligations, which
Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar
and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure
the availability of sufficient money to make the payment secured thereby.
“Finance Director” means the Treasurer/Finance Director or Acting Treasurer/Finance Director, as
the case may be, of the City.
“Fiscal Year” means the twelve-month period established by the City or provided by law from time
to time as its fiscal year.
“Government Obligations” means direct obligations of, or obligations the principal of and interest
on which are unconditionally guaranteed by, the United States of America.
“Improvements” means the improvements to be constructed, reconstructed, acquired, improved,
extended, rehabilitated, installed, equipped, furnished and completed in the Project Area in accordance with
the Redevelopment Plan, including, but not limited to, the improvements constituting the Project (as defined
in the Redevelopment Contract).
“Payment Date” means June 1 and December 1 of each year any Note is outstanding, commencing
on the first Payment Date following the Date of Original Issue.
“Chairman” means the Chairman of the Authority.
“Outstanding” means when used with reference to any Note, as of a particular date, all Notes
theretofore authenticated and delivered under this Resolution except:
(a) Notes theretofore canceled by the Registrar or delivered to the Registrar for
cancellation;
(b) Notes which are deemed to have been paid in accordance with Section 10.1 hereof;
(c) Notes alleged to have been mutilated, destroyed, lost or stolen which have been
paid as provided in Section 3.9 hereof; and
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(d) Notes in exchange for or in lieu of which other Notes have been authenticated and
delivered pursuant to this Resolution.
“Owner” means the person(s) identified as the owner(s) of the Note from time to time, as indicated
on the books of registry maintained by the Registrar.
“Plan Resolution” means, Resolution No. ___________ of the City, together with any other
resolution providing for an amendment to the Redevelopment Plan.
“Project Area” means the area identified and referred to as the Project Site in the Redevelopment
Contract.
“Record Date” means, for each Payment Date, the 15th day immediately preceding such Payment
Date.
“Redeveloper” means the Redeveloper as defined in the Redevelopment Contract responsible for
constructing, reconstructing, acquiring, improving, extending, rehabilitating, installing, equipping, furnishing
and completing the Project.
“Redeveloper Note” means any Note that is owned by the Redeveloper according to the records of
the Registrar.
“Redevelopment Contract” means the City of Grand Island Redevelopment Contract Procon
Properties, LLC, Redevelopment Project, dated the date of its execution, between the Authority, and Procon
Properties, LLC, a Nebraska corporation, relating to the Project.
“Redevelopment Area” means the community redevelopment area described, defined or otherwise
identified or referred to in the Redevelopment Plan.
“Redevelopment Law” means Article VIII, Section 12 of the Constitution of the State and Chapter
18, Article 21, Reissue Revised Statutes of Nebraska, as amended.
“Redevelopment Plan” means the “City of Grand Island Redevelopment Plan Amendment for
Redevelopment Area #5 July 2021” passed, adopted and approved by the City pursuant to the Plan
Resolution, and shall include any amendment of such Redevelopment Plan heretofore or hereafter made by
the City pursuant to law.
“Refunding Notes” means the notes authorized to be issued pursuant to Article V.
“Registrar” means the Treasurer of the City of Grand Island, Nebraska, in its capacity as registrar
and paying agent for the Note.
“Resolution” means this Resolution as from time to time amended or supplemented.
“Revenue” means the Tax Revenue.
“Special Fund” means the fund by that name created in Section 7.1.
“State” means the State of Nebraska.
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“Tax Revenue” means, with respect to the Project Area, (a) those tax revenues referred to (1) in the
last sentence of the first paragraph of Article VIII, Section 12 of the Constitution of the State and (2) in Section
18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof.
“Treasurer” means the Treasurer of Hall County, Nebraska.
Section 2.2. Definitions of General Terms. Unless the context clearly indicates otherwise or may
otherwise require, in this Resolution words importing persons include firms, partnerships, associations,
limited liability companies (public and private), public bodies and natural persons, and also include executors,
administrators, trustees, receivers or other representatives.
Unless the context clearly indicates otherwise or may otherwise require, in this Resolution the terms
“herein,” “hereunder,” “hereby,” “hereto,” “hereof” and any similar terms refer to this Resolution as a whole
and not to any particular section or subdivision thereof.
Unless the context clearly indicates otherwise or may otherwise require, in this Resolution: (a)
references to Articles, Sections and other subdivisions, whether by number or letter or otherwise, are to the
respective or corresponding Articles, Sections or subdivisions of this Resolution as such Articles, Sections, or
subdivisions may be amended or supplemented from time to time; and (b) the word “heretofore” means before
the time of passage of this Resolution, and the word “hereafter” means after the time of passage of this
Resolution.
Section 2.3. Computations. Unless the facts shall then be otherwise, all computations required for
the purposes of this Resolution shall be made on the assumption that the principal on the Note shall be paid
as and when the same become due.
Section 2.4. Certificates, Opinions and Reports. Except as otherwise specifically provided in this
Resolution, each certificate, opinion or report with respect to compliance with a condition or covenant
provided for in this Resolution shall include: (a) a statement that the person making such certificate, opinion
or report has read the pertinent provisions of this Resolution to which such covenant or condition relates; (b)
a brief statement as to the nature and scope of the examination or investigation upon which the statements or
opinions contained in such certificate, opinion or report are based; (c) a statement that, in the opinion of such
person, he has made such examination and investigation as is necessary to enable him to express an informed
opinion as to whether or not such covenant or condition has been complied with; (d) a statement as to whether
or not, in the opinion of such person, such condition or covenant has been complied with; and (e) an
identification of any certificates, opinions or reports or other sources or assumptions relied on in such
certificate, opinion or report.
Section 2.5. Evidence of Action by the Authority. Except as otherwise specifically provided in
this Resolution, any request, direction, command, order, notice, certificate or other instrument of, by or from
the City or the Authority shall be effective and binding upon the Authority, respectively, for the purposes of
this Resolution if signed by the Chairman, the Vice Chairman, the Secretary, the Treasurer of the Authority,
the Finance Director, the Planning Director or by any other person or persons authorized to execute the same
by statute, or by a resolution of the City or the Authority, respectively.
ARTICLE III
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AUTHORIZATION AND ISSUANCE OF THE NOTE;
GENERAL TERMS AND PROVISIONS
Section 3.1. Authorization of Note. Pursuant to and in full compliance with the Redevelopment
Law and this Resolution, and for the purpose of providing funds to pay (a) the cost of acquiring, constructing,
reconstructing, improving, extending, rehabilitating, installing, equipping, furnishing, and completing the
Project, and (b) the costs of issuing the Note, the Authority shall issue one Note (the “Note”) in an aggregate
principal amount not to exceed $1,307,858. The Note shall be designated as “Community Redevelopment
Authority of the City of Grand Island, Nebraska, Procon Properties, LLC, Redevelopment Project Tax
Increment Development Revenue Note Series 2021,” shall have an appropriate series designation as
determined by the Finance Director, shall be dated the Date of Original Issue, shall mature, subject to right
of prior redemption, not later than the December 31, 2043, and shall bear interest at an annual rate of 0.00%.
The Note shall be issued as a single Note as further described in Section 3.2.
The Note is a special, limited obligation of the Authority payable solely from the Revenue and the
amounts on deposit in the funds and accounts established by this Resolution. The Note shall not in any event
be a debt of the Authority (except to the extent of the Revenue and other money pledged under this
Resolution), the State, nor any of its political subdivisions, and neither the Authority (except to the extent of
the Revenue and other money pledged under this Resolution), the City, the State nor any of its political
subdivisions is liable in respect thereof, nor in any event shall the principal of or interest on the Note be
payable from any source other than the Revenue and other money pledged under this Resolution. The Note
does not constitute a debt within the meaning of any constitutional, statutory, or charter limitation upon the
creation of general obligation indebtedness of the Authority and does not impose any general liability upon
the Authority. Neither any official of the Authority nor any person executing the Note shall be liable
personally on the Note by reason of its issuance. The validity of the Note is not and shall not be dependent
upon the completion of the Project or upon the performance of any obligation relative to the Project.
The Revenue and the amounts on deposit in the funds and accounts established by this Resolution are
hereby pledged and assigned for the payment of the Note, and shall be used for no other purpose than to pay
the principal of or interest on the Note, except as may be otherwise expressly authorized in this Resolution.
The Note shall not constitute a debt of the Authority or the City within the meaning of any constitutional,
statutory, or charter limitation upon the creation of general obligation indebtedness of the Authority, and
neither the Authority nor the City shall not be liable for the payment thereof out of any money of the Authority
or the City other than the Tax Revenue and the other funds referred to herein.
Nothing in this Resolution shall preclude the payment of the Note from (a) the proceeds of future
notes issued pursuant to law or (b) any other legally available funds. Nothing in this Resolution shall
prevent the City or the Authority from making advances of its own funds howsoever derived to any of the
uses and purposes mentioned in this Resolution.
Section 3.2. Details of Note; Authority of Finance Director.
(a) The Note shall be dated the Date of Original Issue and shall be issued to the purchaser
thereof, as the Owner, in installments. The Note shall be delivered on the earlier of allocation of the
maximum principal amount of the Note or upon the issuance of a certificate of occupancy of the building
constituting the Project. The Note shall be issued as a single Note with appropriate series designation.
(b) Proceeds of the Note may be advanced and disbursed in the manner set forth below:
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(1) There shall be submitted to the Finance Director a disbursement request in a form
acceptable to the Finance Director (the “Disbursement Request”), executed by the City’s Planning
Director and an authorized representative of the Redeveloper, (A) certifying that a portion of the
Project has been substantially completed and (B) certifying the actual costs incurred by the
Redeveloper in the completion of such portion of the Project.
(2) The Finance Director shall evidence such allocation in writing and inform the
Owner of the Note of any amounts allocated to the Note.
(3) Such amounts shall be deemed proceeds of the Note and the Finance Director shall
inform the Registrar in writing of the date and amount of such allocation. The Registrar shall keep
and maintain a record of the amounts allocated to the note pursuant to the terms of this Resolution as
“Principal Amount Advanced” and shall enter the aggregate principal amount then Outstanding as
the “Cumulative Outstanding Principal Amount” on the Note and its records maintained for the Note.
The aggregate amount endorsed as the Principal amount Advanced on the Note shall not in the
aggregate exceed $1,307,858.
The Authority shall have no obligation to pay any Disbursement Request unless such request has
been properly approved as described above, and proceeds of the Note have been deposited by the Owner of
the Note (if other than the Redeveloper) into the Project Fund.
The records maintained by the Registrar as to principal amount advanced and principal amounts paid
on the Note shall be the official records of the Cumulative Outstanding Principal Amount for all purposes.
(c) The Note shall be dated the Date of Original Issue, which shall be the initial date of a
allocation of the Note.
(d) As of the Date of Original Issue of the Note, there shall be delivered to the Registrar the
following:
(1) A signed investor’s letter in a form acceptable to the Finance Director and Note
Counsel; and
(2) Such additional certificates and other documents as the special counsel for the
Authority may require.
(e) The note shall bear zero percent interest on the Cumulative Outstanding Principal Amount
of the Note from the Date of Original Issue.
(f) The principal of the Note shall be payable in any coin or currency of the United States of
America from all funds held by the which on the respective dates of payment thereof is legal tender for the
payment of public and private debts. Payments on the Note due prior to maturity or earlier redemption and
payment of any principal upon redemption price to maturity shall be made by check mailed by the Registrar
on each Interest Payment Date to the Owners, at the Owners’ address as it appears on the books of registry
maintained by the Registrar on the Record Date. The principal of the Note due at maturity or upon earlier
redemption shall be payable upon presentation and surrender of the Note to the Registrar. When any portion
of the Note shall have been duly called for redemption and payment thereof duly made or provided for, interest
thereon shall cease on the principal amount of such Note so redeemed from and after the date of redemption
thereof.
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(g) The Note shall be executed by the manual signatures of the Chairman and Secretary of the
Authority. In case any officer whose signature shall appear on any Note shall cease to be such officer
before the delivery of such Note, such signature shall nevertheless be valid and sufficient for all purposes,
the same as if s/he had remained in office until such delivery, and the Note may be signed by such persons
as at the actual time of the execution of such Note shall be the proper officers to sign such Note although
at the date of such Note such persons may not have been such officers.
(i) The Finance Director is hereby authorized to hereafter, from time to time, specify, set,
designate, determine, establish and appoint, as the case may be, and in each case in accordance with and
subject to the provisions of this Resolution, (1) the Date of Original Issue, the principal amount of the Note in
accordance with Section 3.2(a), (2) the maturity date of the Note, which shall be not later than December 31,
2043, (3) the initial Payment Date and (4) any other term of the Note not otherwise specifically fixed by the
provisions of this Resolution.
(j) Any Note issued upon transfer or exchange of any other Note shall be dated as of the Date
of Original Issue.
(k) The Note shall be issued to such Owner as shall be mutually agreed between the Redeveloper
and the Finance Director for a price equal to 100% of the principal amount thereof. No Note shall be delivered
to any Owner unless the Authority shall have received from the Owner thereof such documents as may be
required by the Finance Director to demonstrate compliance with all applicable laws, including without
limitation compliance with Section 3.6 hereof. The Authority may impose such restrictions on the transfer of
any Note as may be required to ensure compliance with all requirements relating to any such transfer.
Section 3.3. Form of Note Generally. The Note shall be issued in registered form. The Note
shall be in substantially the form set forth in Article IX, with such appropriate variations, omissions and
insertions as are permitted or required by this Resolution and with such additional changes as the Finance
Director may deem necessary or appropriate. The Note may have endorsed thereon such legends or text as
may be necessary or appropriate to conform to any applicable rules and regulations of any governmental
authority or any usage or requirement of law with respect thereto.
Section 3.4. Appointment of Registrar. The Finance Director is hereby appointed the registrar
and paying agent for the Note. The Registrar shall specify its acceptance of the duties, obligations and
trusts imposed upon it by the provisions of this Resolution by a written instrument deposited with the
Authority prior to the Date of Original Issue of the initial Note. The Authority reserves the right to remove
the Registrar upon 30 days’ notice and upon the appointment of a successor Registrar, in which event the
predecessor Registrar shall deliver all cash and the Note in its possession to the successor Registrar and
shall deliver the note register to the successor Registrar. The Registrar shall have only such duties and
obligations as are expressly stated in this Resolution and no other duties or obligations shall be required of
the Registrar.
Section 3.5. Exchange of Note. Any Note, upon surrender thereof at the principal office of the
Registrar, together with an assignment duly executed by the Owner or its attorney or legal representative in
such form as shall be satisfactory to the Registrar, may, at the option of the Owner thereof, be exchanged for
another Note in a principal amount equal to the principal amount of the Note surrendered or exchanged, of
the same series and maturity and bearing interest at the same rate. The Authority shall make provision for the
exchange of the Note at the principal office of the Registrar.
Section 3.6. Negotiability, Registration and Transfer of Note. The Registrar shall keep books for
the registration and registration of transfer of the Note as provided in this Resolution. The transfer of the Note
may be registered only upon the books kept for the registration and registration of transfer of the Note upon
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(a) surrender thereof to the Registrar, together with an assignment duly executed by the Owner or its attorney
or legal representative in such form as shall be satisfactory to the Registrar and (b) evidence acceptable to the
Authority that the assignee is a bank or a qualified institutional buyer as defined in Rule 144A promulgated
by the Securities and Exchange Commission. Prior to any transfer and assignment, the Owner will obtain
and provide to the Authority, an investor’s letter in form and substance satisfactory to the Authority
evidencing compliance with the provisions of all federal and state securities laws, and will deposit with the
Authority an amount to cover all reasonable costs incurred by the Authority, including legal fees, of
accomplishing such transfer. A transfer of any Note may be prohibited by the Authority if (1) a default then
exists under the Redevelopment Contract, (2) the assessed valuation of the Redeveloper Property (as defined
in the Redevelopment Contract) is less than $2,000,000, or (3) a protest of the valuation of the Redeveloper
Property is ongoing. Upon any such registration of transfer the Authority shall execute and deliver in
exchange for such Note a new Note, registered in the name of the transferee, in a principal amount equal to
the principal amount of the Note surrendered or exchanged, of the same series and maturity and bearing
interest at the same rate.
In all cases in which any Note shall be exchanged or a transfer of a Note shall be registered hereunder,
the Authority shall execute at the earliest practicable time execute and deliver a Note in accordance with the
provisions of this Resolution. The Note surrendered in any such exchange or registration of transfer shall
forthwith be canceled by the Registrar. Neither the Authority nor the Registrar shall make a charge for the
first such exchange or registration of transfer of any Note by any Owner. The Authority or the Registrar, or
both, may make a charge for shipping, printing and out-of-pocket costs for every subsequent exchange or
registration of transfer of such Note sufficient to reimburse it or them for any and all costs required to be paid
with respect to such exchange or registration of transfer. Neither the Authority nor the Registrar shall be
required to make any such exchange or registration of transfer of any Note during the period between a Record
Date and the corresponding Interest Payment Date.
Section 3.7. Ownership of Note. As to any Note, the person in whose name the same shall be
registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on
account of the principal of or interest on such Note shall be made only to or upon the order of the Owner
thereof or his legal representative. All such payments shall be valid and effectual to satisfy and discharge the
liability upon such Note, including the interest thereon, to the extent of the sum or sums so paid.
Section 3.8. Disposition and Destruction of Note. The Note, upon surrender to the Registrar for
final payment, whether at maturity or upon earlier redemption, shall be canceled upon such payment by the
Registrar and, upon written request of the Finance Director, be destroyed.
Section 3.9. Mutilated, Lost, Stolen or Destroyed Note. If any Note becomes mutilated or is
lost, stolen or destroyed, the Authority shall execute and deliver a new Note of like date and tenor as the
Note mutilated, lost, stolen or destroyed; provided that, in the case of any mutilated Note, such mutilated
Note shall first be surrendered to the Authority. In the case of any lost, stolen or destroyed Note, there first
shall be furnished to the Authority evidence of such loss, theft or destruction satisfactory to the Authority,
together with indemnity to the Authority satisfactory to the Authority. If any such Note has matured, is
about to mature or has been called for redemption, instead of delivering a substitute Note, the Authority
may pay the same without surrender thereof. Upon the issuance of any substitute Note, the Authority may
require the payment of an amount by the Owner sufficient to reimburse the Authority for any tax or other
governmental charge that may be imposed in relation thereto and any other reasonable fees and expenses
incurred in connection therewith.
Section 3.10. Non-presentment of Note. If any Note is not presented for payment when the
principal thereof becomes due and payable as therein and herein provided, whether at the stated maturity
thereof or call for optional or mandatory redemption or otherwise, if funds sufficient to pay such Note have
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been made available to the Registrar all liability of the Authority to the Owner thereof for the payment of
such Note shall forthwith cease, determine and be completely discharged, and thereupon it shall be the duty
of the Registrar to hold such funds, without liability for interest thereon, for the benefit of the Owner of
such Note, who shall thereafter be restricted exclusively to such funds for any claim of whatever nature on
their part under this Resolution or on, or with respect to, said Note. If any Note is not presented for payment
within five years following the date when such Note becomes due, the Registrar shall repay to the Authority
the funds theretofore held by it for payment of such Note, and such Note shall, subject to the defense of any
applicable statute of limitation, thereafter be an unsecured obligation of the Authority, and the Registered
Owner thereof shall be entitled to look only to the Authority for payment, and then only to the extent of the
amount so repaid to it by the Registrar, and the Authority shall not be liable for any interest thereon and
shall not be regarded as a trustee of such money.
ARTICLE IV
REDEMPTION OF NOTE
Section 4.1. Redemption of Note. The Note is subject to redemption at the option of the Authority
prior to the maturity thereof at any time as a whole or in part from time to time in such principal amount as
the Authority shall determine, at a redemption price equal to 100% of the principal amount then being
redeemed plus accrued interest thereon to the date fixed for redemption.
Section 4.2. Redemption Procedures. The Finance Director is hereby authorized, without further
action of the Council, to call all or any portion of the principal of the Note for payment and redemption prior
to maturity on such date as the Finance Director shall determine, and shall deposit sufficient funds in the Debt
Service Account from the Surplus Account to pay the principal being redeemed plus the accrued interest
thereon to the date fixed for redemption. The Finance Director may effect partial redemptions of any Note
without notice to the Owner and without presentation and surrender of such Note, but total redemption of any
Note may only be effected with notice to the Owner and upon presentation and surrender of such Note to the
Registrar. Notice of a total redemption of any Note shall be sent by the Registrar by first-class mail not less
than five days prior to the date fixed for redemption to the Owner’s address appearing on the books of registry
maintained by the Registrar and indicate (a) the title and designation of the Note, (b) the redemption date, and
(c) a recitation that the entire principal balance of such Note plus all accrued interest thereon is being called
for redemption on the applicable redemption date.
Section 4.3. Determination of Outstanding Principal Amount of Note. Notwithstanding the
amount indicated on the face of any Note, the principal amount of such Note actually Outstanding from time
to time shall be determined and maintained by the Registrar. The Registrar shall make a notation in the books
of registry maintained for each Note indicating the original principal advance of such Note as determined in
accordance with Section 3.2 and make such additional notations as are required to reflect any additional
principal advances or redemptions of such Note from time to time, including on the Table of Cumulative
Outstanding Principal Amount attached to each Note if it is presented to the Registrar for that purpose. Any
Owner may examine the books of registry maintained by the Registrar upon request, and the Registrar shall
grant such request as soon as reasonably practicable. Any failure of the Registrar to record a principal
advance or a redemption on the Table of Cumulative Outstanding Principal Amount shall not affect the
Cumulative Outstanding Principal Amount shown on the records of the Registrar.
ARTICLE V
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REFUNDING NOTES
Section 5.1. Refunding Notes. Refunding Notes may be issued at any time at the direction of the
Finance Director for the purpose of refunding (including by purchase) any Note or any portion thereof,
including amounts to pay principal to the date of maturity or redemption (or purchase) and the expenses of
issuing the Refunding Notes and of effecting such refunding; provided that the Debt Service on all notes to
be outstanding after the issuance of the Refunding Notes shall not be greater in any Fiscal Year than would
have been the Debt Service in such Fiscal Year were such refunding not to occur.
ARTICLE VI
EFFECTIVE DATE OF PROJECT;
PLEDGE OF REVENUE
Section 6.1. Effective Date of Project. For purposes of Section 18-2147, Reissue Revised Statutes
of Nebraska, as amended, the effective date of the Project shall be determined as set forth in the
Redevelopment Contract from time to time pursuant to each Redevelopment Contract Amendment. The
Planning Director is hereby directed to notify the Assessor of the effective date of the Project on the form
prescribed by the Property Tax Administrator.
Section 6.2. Collection of Revenue; Pledge of Revenue. As provided for in the Redevelopment
Plan, and pursuant to the provisions of the Redevelopment Law, for the period contemplated thereby, the Tax
Revenue collected in the Project Area shall be allocated to and, when collected, paid into the Special Fund
under the terms of this Resolution to pay the principal on the Note. When the Note has been paid in
accordance with this Resolution, the Redevelopment Plan and the Redevelopment Contract, the Tax Revenue
shall be applied as provided for in the Redevelopment Law.
The Revenue is hereby allocated and pledged in its entirety to the payment of the principal on the
Note and to the payment of the Project Costs (including the Project), until the principal on the Note has been
paid (or until money for that purpose has been irrevocably set aside), and the Revenue shall be applied solely
to the payment of the principal on the Note. Such allocation and pledge is and shall be for the sole and
exclusive benefit of the Owner and shall be irrevocable.
Section 6.3. Potential Insufficiency of Revenue. Neither the Authority nor the City makes any
representations, covenants, or warranties to the Owner that the Revenue will be sufficient to pay the principal
of or interest on the Note. Payment of the principal of and interest on the Note is limited solely and exclusively
to the Revenue pledged under the terms of this Resolution, and is not payable from any other source
whatsoever.
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ARTICLE VII
CREATION OF FUNDS AND ACCOUNTS;
PAYMENTS THEREFROM
Section 7.1. Creation of Funds and Account. There is hereby created and established by the
Authority the following funds and accounts which funds shall be held by the Finance Director of the City
separate and apart from all other funds and moneys of the Authority and the City under her control
a special trust fund called the “Procon Properties, LLC Redevelopment Project Tax Increment Special Fund”
(the “Special Fund”).
So long as the Note remains unpaid, the money in the foregoing fund and accounts shall be used for
no purpose other than those required or permitted by this Resolution, any Resolution supplemental to or
amendatory of this Resolution and the Redevelopment Law.
Section 7.2. Special Fund. All of the Revenue shall be deposited into the Special Fund. The
Revenue accumulated in the Special Fund shall be used and applied on the Business Day prior to each Payment
Date (a) to make any payments to the Authority as may be required under the Redevelopment Contract and
(b) to pay principal on the Note to the extent of any money then remaining the Special Fund on such Payment
Date. Money in the Special Fund shall be used solely for the purposes described in this Section 7.2. All
Revenues received through and including December 31, 2043 shall be used solely for the payments required
by this Section 7.2.
ARTICLE VIII
COVENANTS OF THE AUTHORITY
So long as the Note is outstanding and unpaid, the Authority will (through its proper officers, agents
or employees) faithfully perform and abide by all of the covenants, undertakings and provisions contained in
this Resolution or in the Note, including the following covenants and agreements for the benefit of the Owner
which are necessary, convenient and desirable to secure the Note and will tend to make them more marketable;
provided, however, that such covenants do not require either the City or the Authority to expend any money
other than the Revenue nor violate the provisions of State law with respect to tax revenue allocation.
Section 8.1. No Priority. The Authority covenants and agrees that it will not issue any obligations
the principal of or interest on which is payable from the Revenue which have, or purport to have, any lien
upon the Revenue prior or superior to or in parity with the lien of the Note; provided, however, that nothing
in this Resolution shall prevent the Authority from issuing and selling notes or other obligations which have,
or purport to have, any lien upon the Revenue which is junior to the Note and the Debt Service thereon, or
from issuing and selling notes or other obligations which are payable in whole or in part from sources other
than the Revenue.
Section 8.2. To Pay Principal of the Note. The Authority will duly and punctually pay or cause to
be paid solely from the Revenue the principal of the Note on the dates and at the places and in the manner
provided in the Note according to the true intent and meaning thereof and hereof, and will faithfully do and
perform and fully observe and keep any and all covenants, undertakings, stipulations and provisions contained
in the Note and in this Resolution.
Section 8.4. Books of Account; Financial Statements. The Authority covenants and agrees that it
will at all times keep, or cause to be kept, proper and current books of account (separate from all other records
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and accounts) in which complete and accurate entries shall be made of all transactions relating to the Project,
the Revenue and other funds relating to the Project.
Section 8.5. Eminent Domain Proceeds. The Authority covenants and agrees that should all or any
part of the Project be taken by eminent domain or other proceedings authorized by law for any public or other
use under which the property will be exempt from ad valorem taxation, the net proceeds realized by the
Authority therefrom shall constitute Project Revenue and shall be deposited into the Special Fund and used
for the purposes and in the manner described in Section 7.2.
Section 8.6. Protection of Security. The Authority is duly authorized under all applicable laws to
create and issue the Note and to adopt this Resolution and to pledge the Revenue in the manner and to the
extent provided in this Resolution. The Revenue so pledged is and will be free and clear of any pledge, lien,
charge, security interest or encumbrance thereon or with respect thereto prior to, or of equal rank with, the
pledge created by this Resolution, except as otherwise expressly provided herein, and all corporate action on
the part of the Authority to that end has been duly and validly taken. The Note is and will be a valid obligation
of the Authority in accordance with its terms and the terms of this Resolution. The Authority shall at all times,
to the extent permitted by law, defend, preserve and protect the pledge of and security interest granted with
respect to the Revenue pledged under this Resolution and all the rights of the Owner under this Resolution
against all claims and demands of all persons whomsoever.
ARTICLE IX
FORM OF NOTE
Section 9.1. Form of Note. The Note shall be in substantially the following form:
(FORM OF NOTE)
THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR ANY STATE SECURITIES LAWS, AND THIS NOTE MAY NOT BE
TRANSFERRED UNLESS THE PROPOSED ASSIGNEE IS A BANK OR A QUALIFIED
INSTITUTIONAL BUYER AS DEFINED IN RULE 144A PROMULGATED BY THE SECURITIES
AND EXCHANGE COMMISSION AND THE OWNER HAS OBTAINED AND PROVIDED TO
THE AUTHORITY, PRIOR TO SUCH TRANSFER AND ASSIGNMENT, AN INVESTOR’S
LETTER IN FORM AND SUBSTANCE SATISFACTORY TO THE AUTHORITY EVIDENCING
THE COMPLIANCE WITH THE PROVISIONS OF ALL FEDERAL AND STATE SECURITIES
LAWS AND CONTAINING SUCH OTHER REPRESENTATIONS AS THE AUTHORITY MAY
REQUIRE.
THIS NOTE MAY BE TRANSFERRED ONLY IN THE MANNER AND ON THE TERMS AND
CONDITIONS AND SUBJECT TO THE RESTRICTIONS STATED IN SECTION 3.6 OF
RESOLUTION NO. ____________ OF THE COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA.
UNITED STATES OF AMERICA
STATE OF NEBRASKA
COUNTY OF HALL
COMMUNITY REDEVELOPMENT AUTHORITY
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OF THE CITY OF GRAND ISLAND, NEBRASKA
PROCON PROPERTIES, LLC, REDEVELOPMENT PROJECT
TAX INCREMENT DEVELOPMENT REVENUE NOTE, SERIES 2021
No. R-1 Up to an aggregate amount of $1,307,858
(subject to reduction as described herein)
Date of Date of Rate of
Original Issue Maturity Interest
December 31, 2043 0.00%
REGISTERED OWNER: Procon Properties, LLC
PRINCIPAL AMOUNT: SEE SCHEDULE 1 ATTACHED HERETO
REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE NOTE
SET FORTH ON THE FOLLOWING PAGES, WHICH FURTHER PROVISIONS SHALL FOR
ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.
IN WITNESS WHEREOF, THE COMMUNITY REDEVELOPMENT AUTHORITY OF
THE CITY OF GRAND ISLAND, NEBRASKA has caused this Note to be signed by the manual
signature of the Chairman of the Authority, countersigned by the manual signature of the Secretary of the
Authority.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA
[S E A L]
By: (manual signature)
Chairman
By: (manual signature)
Secretary
The COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA (the “Authority”) acknowledges itself indebted to, and for value received hereby
promises to pay, but solely from certain specified tax revenues to the Registered Owner named above, or
registered assigns, on the Date of Maturity stated above (or earlier as hereinafter referred to), the Principal
Amount on Schedule 1 attached hereto upon presentation and surrender hereof at the office of the registrar
and paying agent herefor, the Treasurer of the City of Grand Island, Nebraska (the “Registrar”), payable
semiannually on June 1 and December 1 of each year until payment in full of such Principal Amount,
beginning June 1, 2023, by check or draft mailed to the Registered Owner hereof as shown on the note
registration books maintained by the Registrar on the 15th day of the month preceding the month in which
the applicable payment date occurs, at such Owner’s address as it appears on such note registration books.
The principal of this Note is payable in any coin or currency which on the respective dates of payment
thereof is legal tender for the payment of debts due the United States of America.
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This Note is issued by the Authority under the authority of and in full compliance with the
Constitution and statutes of the State of Nebraska, including particularly Article VIII, Section 12 of the
Nebraska Constitution, Sections 18-2101 to 18-2153, inclusive, Reissue Revised Statutes of Nebraska, as
amended, and under and pursuant to Resolution No. ________ duly passed and adopted by the Authority on
______________, 2021, as from time to time amended and supplemented (the “Resolution”).
THE PRINCIPAL AMOUNT OF THIS NOTE IS SET FORTH IN SCHEDULE 1
ATTACHED HERETO. THE MAXIMUM PRINCIPAL AMOUNT OF THIS NOTE IS $1,307,858.
This Note has been issued by the Authority for the purpose of financing the costs of constructing,
reconstructing, improving, extending, rehabilitating, installing, equipping, furnishing and completing certain
improvements within the area identified and referred to as the City of Grand Island Redevelopment Plan
Amendment for Redevelopment Area #1 July 2021, (Procon Properties, LLC Project) which is more
specifically described in the Resolution, and to carry out the Authority’s corporate purposes and powers in
connection therewith.
Reference is hereby made to the Resolution for the provisions, among others, with respect to the
collection and disposition of certain tax and other revenues, the special funds charged with and pledged to the
payment of the principal of and interest on this Note, the nature and extent of the security thereby created, the
terms and conditions under which this Note has been issued, the rights and remedies of the Registered Owner
of this Note, and the rights, duties, immunities and obligations of the City and the Authority. By the
acceptance of this Note, the Registered Owner assents to all of the provisions of the Resolution.
This Note is a special limited obligation of the Authority payable as to principal solely from and is
secured solely by the Tax Revenue (as defined in the Resolution) pledged under the Resolution, all on the
terms and conditions set forth in the Resolution. The Tax Revenue represents that portion of ad valorem taxes
levied by public bodies of the State of Nebraska, including the City, on real property in the Project Area (as
defined in this Resolution) which is in excess of that portion of such ad valorem taxes produced by the levy
at the rate fixed each year by or for each such public body upon the valuation of the Project Area as of a certain
date and as has been certified by the County Assessor of Hall County, Nebraska to the City in accordance
with law.
The principal hereon shall not be payable from the general funds of the City nor the Authority nor
shall this Note constitute a legal or equitable pledge, charge, lien, security interest or encumbrance upon any
of the property or upon any of the income, receipts, or money and securities of the City or the Authority or of
any other party other than those specifically pledged under the Resolution. This Note is not a debt of the City
or the Authority within the meaning of any constitutional, statutory or charter limitation upon the creation of
general obligation indebtedness of the City or the Authority, and does not impose any general liability upon
the City or the Authority and neither the City nor the Authority shall be liable for the payment hereof out of
any funds of the City or the Authority other than the Tax Revenues and other funds pledged under the
Resolution, which Tax Revenues and other funds have been and hereby are pledged to the punctual payment
of the principal of and interest on this Note in accordance with the provisions of this Resolution.
The Registrar may from time to time enter the respective amounts advanced pursuant to the terms of
the Resolution under the column headed “Principal Amount Advanced” on Schedule 1 hereto (the “Table”)
and may enter the aggregate principal amount of this Note then outstanding under the column headed
“Cumulative Outstanding Principal Amount” on the Table. On each date upon which a portion of the
Cumulative Outstanding Principal Amount is paid to the Registered Owner pursuant to the redemption
provisions of the Resolution, the Registered Owner may enter the principal amount paid on this Note under
the column headed “Principal Amount Redeemed” on the Table and may enter the then outstanding principal
amount of this Note under the column headed “Cumulative Outstanding Principal Amount” on the Table.
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Notwithstanding the foregoing, the records maintained by the Registrar as to the principal amount issued and
principal amounts paid on this Note shall be the official records of the Cumulative Outstanding Principal
Amount of this Note for all purposes.
Reference is hereby made to the Resolution, a copy of which is on file in the office of the City Clerk,
and to all of the provisions of which each Owner of this Note by its acceptance hereof hereby assents, for
definitions of terms; the description of and the nature and extent of the security for this Note; the Tax Revenue
pledged to the payment of the principal on this Note; the nature and extent and manner of enforcement of the
pledge; the conditions upon which the Resolution may be amended or supplemented with or without the
consent of the Owner of this Note; the rights, duties and obligations of the Authority and the Registrar
thereunder; the terms and provisions upon which the liens, pledges, charges, trusts and covenants made therein
may be discharged at or prior to the maturity or redemption of this Note, and this Note thereafter no longer be
secured by the Resolution or be deemed to be outstanding thereunder, if money or certain specified securities
shall have been deposited with the Registrar sufficient and held in trust solely for the payment hereof; and for
the other terms and provisions thereof.
This Note is subject to redemption prior to maturity, at the option of the Authority, in whole or in part
at any time at a redemption price equal to 100% of the principal amount being redeemed, plus accrued interest
on such principal amount to the date fixed for redemption. Reference is hereby made to the Resolution for a
description of the redemption procedures and the notice requirements pertaining thereto.
In the event this Note is called for prior redemption, notice of such redemption shall be given by first-
class mail to the Registered Owner hereof at its address as shown on the registration books maintained by the
Registrar not less than 10 days prior to the date fixed for redemption, unless waived by the Registered Owner
hereof. If this Note, or any portion thereof, shall have been duly called for redemption and notice of such
redemption duly given as provided, then upon such redemption date the portion of this Note so redeemed shall
become due and payable and if money for the payment of the portion of the Note so redeemed shall be held
for the purpose of such payment by the Registrar.
This Note is transferable by the Registered Owner hereof in person or by its attorney or legal
representative duly authorized in writing at the principal office of the Registrar, but only in the manner, subject
to the limitations and upon payment of the charges provided in the Resolution, and upon surrender and
cancellation of this Note. Upon such transfer, a new Note of the same series and maturity and for the same
principal amount will be issued to the transferee in exchange therefor. The Authority and the Registrar may
deem and treat the Registered Owner hereof as the absolute owner hereof for the purpose of receiving payment
of or on account of principal of and interest due hereon and for all other purposes.
This note is being issued as a registered note without coupons. This note is subject to exchange as
provided in the Resolution.
It is hereby certified, recited and declared that all acts, conditions and things required to have
happened, to exist and to have been performed precedent to and in the issuance of this Note have happened,
do exist and have been performed in regular and due time, form and manner; that this Note does not exceed
any constitutional, statutory or charter limitation on indebtedness; and that provision has been made for the
payment of the principal of and interest on this Note as provided in this Resolution.
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(FORM OF ASSIGNMENT)
ASSIGNMENT
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
___________________________________________________________________________
Print or Type Name, Address and Social Security Number
or other Taxpayer Identification Number of Transferee
the within note and all rights thereunder, and hereby irrevocably constitutes and appoints _______________
agent to transfer the within Note on the note register kept by the Registrar for the registration thereof, with
full power of substitution in the premises.
Dated: _______________ _______________________________________
NOTICE: The signature to this Assignment must
correspond with the name of the Registered
Owner as it appears upon the face of the within
note in every particular.
Signature Guaranteed By:
_______________________________________
Name of Eligible Guarantor Institution as defined
by SEC Rule 17 Ad-15 (17 CFR 240.17 Ad-15)
By: ________________________________
Title: ________________________________
[The remainder of this page intentionally left blank]
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SCHEDULE 1
TABLE OF CUMULATIVE OUTSTANDING PRINCIPAL AMOUNT
COMMUNITY REDEVELOPMENT AUTHORITY OF
THE CITY OF GRAND ISLAND, NEBRASKA
PROCON PROPERTIES, LLC, REDEVELOPMENT PROJECT
TAX INCREMENT DEVELOPMENT REVENUE NOTE, SERIES 2021
Date
Principal Amount
Advanced
Principal Amount
Redeemed
Cumulative
Outstanding
Principal
Amount
Notation
Made
By
ARTICLE X
DEFEASANCE; MONEY HELD FOR PAYMENT OF
DEFEASED NOTE
Section 10.1. Discharge of Liens and Pledges; Note No Longer Outstanding Hereunder. The
obligations of the Authority under this Resolution, including any Resolutions, resolutions or other proceedings
supplemental hereto, and the liens, pledges, charges, trusts, assignments, covenants and agreements of the
Authority herein or therein made or provided for, shall be fully discharged and satisfied as to the Note or any
portion thereof, and the Note or any portion thereof shall no longer be deemed to be outstanding hereunder
and thereunder,
(a) when the any Note or portion thereof shall have been canceled, or shall have been
surrendered for cancellation or is subject to cancellation, or shall have been purchased from money
in any of the funds held under this Resolution, or
(b) if the Note or portion thereof is not canceled or surrendered for cancellation or
subject to cancellation or so purchased, when payment of the principal of the Note or any portion
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thereof, plus interest on such principal to the due date thereof, either (1) shall have been made or
caused to be made in accordance with the terms thereof, or (2) shall have been provided by irrevocably
depositing with the Registrar for the Note, in trust and irrevocably set aside exclusively for such
payment, (A) money sufficient to make such payment or (B) Escrow Obligations maturing as to
principal in such amount and at such times as will insure the availability of sufficient money to make
such payment.
Provided that, with respect to any total redemption of any Note, notice of redemption shall have been
duly given or provision satisfactory to the Registrar shall have been made therefor, or waiver of such notice,
satisfactory in form, shall have been filed with the Registrar.
At such time as any Note or portion thereof shall no longer be outstanding hereunder, and, except for
the purposes of any such payment from such money or such Escrow Obligations, such Note or portion thereof
shall no longer be secured by or entitled to the benefits of this Resolution.
Any such money so deposited with the Registrar for any Note or portion thereof as provided in this
Section 10.1 may at the direction of the Finance Director also be invested and reinvested in Escrow
Obligations, maturing in the amounts and times as hereinbefore set forth. All income from all Escrow
Obligations in the hands of the Registrar which is not required for the payment of such Note or portion thereof
with respect to which such money shall have been so deposited, shall be paid to the Authority and deposited
in the Special Fund as and when realized and collected for use and application as is other money deposited in
that fund.
Anything in this Resolution to the contrary notwithstanding, if money or Escrow Obligations have
been deposited or set aside with the Registrar pursuant to this Section 10.1 for the payment of any Note and
such Note shall not have in fact been actually paid in full, no amendment to the provisions of this Section
10.1 shall be valid as to or binding upon the Owner thereof without the consent of such Owner.
Section 10.2. Certain Limitations After Due Date. If sufficient money or Escrow Obligations shall
have been deposited in accordance with the terms hereof with the Registrar in trust for the purpose of paying
the Notes or any portion thereof when the same becomes due, whether at maturity or upon earlier redemption,
all liability of the Authority for such payment shall forthwith cease, determine and be completely discharged,
and thereupon it shall be the duty of the Registrar to hold such money or Escrow Obligations, without liability
to the Owners, in trust for the benefit of the Owners, who thereafter shall be restricted exclusively to such
money or Escrow Obligations for any claim for such payment of whatsoever nature on his part.
Notwithstanding the provisions of the preceding paragraph of this Section 10.2, money or Escrow
Obligations held by the Registrar in trust for the payment and discharge of the principal of on any Note which
remain unclaimed for five years after the date on which such payment shall have become due and payable,
either because the Notes shall have reached their maturity date or because the entire principal balance of the
Notes shall have been called for redemption, if such money was held by the Registrar or such paying agent at
such date, or for five years after the date of deposit of such money, if deposited with the Registrar after the
date when such Note became due and payable, shall be paid to the Nebraska State Treasurer and the Registrar
shall thereupon be released and discharged with respect thereto, and the Owner thereof shall look only to the
Authority for the payment thereof.
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ARTICLE XI
AMENDING AND SUPPLEMENTING OF RESOLUTION
Section 11.1. Amending and Supplementing of Resolution Without Consent of Owner. The
Authority may at any time without the consent or concurrence of the Owner of the Note adopt a resolution
amendatory hereof or supplemental hereto if the provisions of such supplemental Resolution do not
materially adversely affect the rights of the Owner of the Note, for any one or more of the following
purposes:
(a) To make any changes or corrections in this Resolution as to which the Authority shall have
been advised by counsel that the same are verbal corrections or changes or are required for the purpose of
curing or correcting any ambiguity or defective or inconsistent provision or omission or mistake or manifest
error contained in this Resolution, or to insert in this Resolution such provisions clarifying matters or
questions arising under this Resolution as are necessary or desirable;
(b) To add additional covenants and agreements of the Authority for the purpose of further
securing payment of the Note;
(c) To surrender any right, power or privilege reserved to or conferred upon the Authority by
the terms of this Resolution;
(d) To confirm as further assurance any lien, pledge or charge, or the subjection to any lien,
pledge or charge, created or to be created by the provisions of this Resolution; and
(e) To grant to or confer upon the Owner of the Note any additional rights, remedies, powers,
authority or security that lawfully may be granted to or conferred upon them.
The Authority shall not adopt any supplemental Resolution authorized by the foregoing provisions
of this Section 11.1 unless in the opinion of counsel the adoption of such supplemental Resolution is
permitted by the foregoing provisions of this Section 11.1 and the provisions of such supplemental
Resolution do not materially and adversely affect the rights of the Owner of the Note.
Section 11.2. Amending and Supplementing of Resolution with Consent of Owner. With the
consent of the Owners of the Note, the Authority from time to time and at any time may adopt a resolution
amendatory hereof or supplemental hereto for the purpose of adding any provisions to, or changing in any
manner or eliminating any of the provisions of, this Resolution, or modifying or amending the rights and
obligations of the Authority under this Resolution, or modifying or amending in any manner the rights of
the Owner of the Note; provided, however, that, without the specific consent of the Owner of the Note, no
supplemental Resolution amending or supplementing the provisions hereof shall: (a) change the fixed
maturity date for the payment or the terms of the redemption thereof, or reduce the principal amount of the
Note or the rate of interest thereon or the Redemption Price payable upon the redemption or prepayment
thereof; (b) authorize the creation of any pledge of the Tax Revenues and other money and securities
pledged hereunder, prior, superior or equal to the pledge of and lien and charge thereon created herein for
the payment of the Note except to the extent provided in Articles III and V; or (c) deprive the Owner of
the Note in any material respect of the security afforded by this Resolution. Nothing in this paragraph
contained, however, shall be construed as making necessary the approval of the Owner\ of the Note of the
adoption of any supplemental Resolution authorized by the provisions of Section 11.1.
It shall not be necessary that the consents of the Owner of the Note approve the particular form of
wording of the proposed amendment or supplement or of the proposed supplemental Resolution effecting
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such amendment or supplement, but it shall be sufficient if such consents approve the substance of the
proposed amendment or supplement. After the Owner of the Note shall have filed its consent to the
amending or supplementing hereof pursuant to this Section, the Authority may adopt such supplemental
Resolution.
Section 11.3. Effectiveness of Supplemental Resolution. Upon the adoption (pursuant to this
Article XI and applicable law) by the Authority of any supplemental Resolution amending or
supplementing the provisions of this Resolution or upon such later date as may be specified in such
supplemental Resolution, (a) this Resolution and the Note shall be modified and amended in accordance
with such supplemental Resolution, (b) the respective rights, limitations of rights, obligations, duties and
immunities under this Resolution and the Owner of the Note shall thereafter be determined, exercised and
enforced under this Resolution subject in all respects to such modifications and amendments, and (c) all of
the terms and conditions of any such supplemental Resolution shall be a part of the terms and conditions of
the Note and of this Resolution for any and all purposes.
ARTICLE XII
MISCELLANEOUS
Section 12.1. General and Specific Authorizations; Ratification of Prior Actions. Without in
any way limiting the power, authority or discretion elsewhere herein granted or delegated, the Authority
hereby (a) authorizes and directs the Chairman, Finance Director, Secretary, Planning Director and all other
officers, officials, employees and agents of the City to carry out or cause to be carried out, and to perform
such obligations of the Authority and such other actions as they, or any of them, in consultation with Special
Counsel, the Owner and its counsel shall consider necessary, advisable, desirable or appropriate in connection
with this Resolution, including without limitation the execution and delivery of all related documents,
instruments, certifications and opinions, and (b) delegates, authorizes and directs the Finance Director the
right, power and authority to exercise his independent judgment and absolute discretion in (1) determining
and finalizing all terms and provisions to be carried by the Note not specifically set forth in this Resolution
and (2) the taking of all actions and the making of all arrangements necessary, proper, appropriate, advisable
or desirable in order to effectuate the issuance, sale and delivery of the Note. The execution and delivery by
the Finance Director or by any such other officers, officials, employees or agents of the City of any such
documents, instruments, certifications and opinions, or the doing by them of any act in connection with any
of the matters which are the subject of this Resolution, shall constitute conclusive evidence of both the
Authority’s and their approval of the terms, provisions and contents thereof and of all changes, modifications,
amendments, revisions and alterations made therein and shall conclusively establish their absolute,
unconditional and irrevocable authority with respect thereto from the Authority and the authorization,
approval and ratification by the Authority of the documents, instruments, certifications and opinions so
executed and the actions so taken.
All actions heretofore taken by the Finance Director and all other officers, officials, employees and
agents of the Authority, including without limitation the expenditure of funds and the selection, appointment
and employment of Special Counsel and financial advisors and agents, in connection with issuance and sale
of the Note, together with all other actions taken in connection with any of the matters which are the subject
hereof, be and the same is hereby in all respects authorized, adopted, specified, accepted, ratified, approved
and confirmed.
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Section 12.2. Proceedings Constitute Contract; Enforcement Thereof. The provisions of this
Resolution shall constitute a contract between the Authority and the Owner and the provisions thereof shall
be enforceable by the Owner by mandamus, accounting, mandatory injunction or any other suit, action or
proceeding at law or in equity that is presently or may hereafter be authorized under the laws of the State in
any court of competent jurisdiction. Such contract is made under and is to be construed in accordance with
the laws of the State.
After the issuance and delivery of any Note, this Resolution and any supplemental Resolution shall
not be repealable, but shall be subject to modification or amendment to the extent and in the manner provided
in this Resolution, but to no greater extent and in no other manner.
Section 12.3. Benefits of Resolution Limited to the Authority and the Owner. With the exception
of rights or benefits herein expressly conferred, nothing expressed or mentioned in or to be implied from this
Resolution or the Note is intended or should be construed to confer upon or give to any person other than the
Authority and the Owner of the Note any legal or equitable right, remedy or claim under or by reason of or in
respect to this Resolution or any covenant, condition, stipulation, promise, agreement or provision herein
contained. The Resolution and all of the covenants, conditions, stipulations, promises, agreements and
provisions hereof are intended to be and shall be for and inure to the sole and exclusive benefit of the City,
the Authority and the Owner from time to time of the Note as herein and therein provided.
Section 12.4. No Personal Liability. No officer or employee of the Authority shall be individually
or personally liable for the payment of the principal of or interest on the Note. Nothing herein contained shall,
however, relieve any such officer or employee from the performance of any duty provided or required by law.
Section 12.5. Effect of Saturdays, Sundays and Legal Holidays. Whenever this Resolution
requires any action to be taken on a Saturday, Sunday or legal holiday, such action shall be taken on the first
business day occurring thereafter. Whenever in this Resolution the time within which any action is required
to be taken or within which any right will lapse or expire shall terminate on a Saturday, Sunday or legal
holiday, such time shall continue to run until midnight on the next succeeding business day.
Section 12.6. Partial Invalidity. If any one or more of the covenants or agreements or portions
thereof provided in this Resolution on the part of the City, the Authority or the Registrar to be performed
should be determined by a court of competent jurisdiction to be contrary to law, then such covenant or
covenants, or such agreement or agreements, or such portions thereof, shall be deemed severable from the
remaining covenants and agreements or portions thereof provided in this Resolution and the invalidity thereof
shall in no way affect the validity of the other provisions of this Resolution or of the Note, but the Owner of
the Note shall retain all the rights and benefits accorded to them hereunder and under any applicable provisions
of law.
If any provisions of this Resolution shall be held or deemed to be or shall, in fact, be inoperative or
unenforceable or invalid as applied in any particular case in any jurisdiction or jurisdictions or in all
jurisdictions, or in all cases because it conflicts with any constitution or statute or rule of public policy, or for
any other reason, such circumstances shall not have the effect of rendering the provision in question
inoperative or unenforceable or invalid in any other case or circumstance, or of rendering any other provision
or provisions herein contained inoperative or unenforceable or invalid to any extent whatever.
Section 12.7. Law and Place of Enforcement of this Resolution. The Resolution shall be construed
and interpreted in accordance with the laws of the State of Nebraska. All suits and actions arising out of this
Resolution shall be instituted in a court of competent jurisdiction in the State of Nebraska except to the extent
necessary for enforcement, by any trustee or receiver appointed by or pursuant to the provisions of this
Resolution, or remedies under this Resolution.
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Section 12.8. Effect of Article and Section Headings and Table of Contents. The headings or
titles of the several Articles and Sections hereof, and any table of contents appended hereto or to copies hereof,
shall be solely for convenience of reference and shall not affect the meaning, construction, interpretation or
effect of this Resolution.
Section 12.9. Repeal of Inconsistent Resolution. Any Resolution of the City, or the Authority and
any part of any resolution, inconsistent with this Resolution is hereby repealed to the extent of such
inconsistency.
Section 12.10. Publication and Effectiveness of this Resolution. This Resolution shall take effect
and be in full force from and after its passage by the Community Redevelopment Authority of the City.
Section 12.11 Authority to Execute Redevelopment Contract and Approve Plan. The Chairman
and Secretary are authorized and directed to execute the Redevelopment Contract, in the form presented with
such changes as the Chairman, in his discretion deems proper. The Plan is approved and adopted.
PASSED AND ADOPTED: ______________________, 2021.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA
(SEAL) By:
Chairman
ATTEST:
By:
Secretary
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Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item I2
Redevelopment Plan Amendment for CRA Area #32-3MJRm
LLC.
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 115 / 194
Jaxson Subdivision 3MJR LLC Area 32
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 367
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 3MJR 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
accommodations, or conditions of blight.
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Jaxson Subdivision 3MJR LLC Area 32
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 $7,460,038 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 13th day of October 2021.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND NEBRASKA
ATTEST: By: ___________________________________
Chair
By: ___________________________________
Secretary
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Jaxson Subdivision 3MJR LLC Area 32
EXHIBIT A
LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA
Property being platted as Jaxson Subdivision in the Northeast Quarter of the Northeast
Quarter of Section 23, Township 11 North, Range 10 west of the 6th P.M. in the City of
Grand Island, Hall County, Nebraska. Parcel Number 400200929
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Jaxson Subdivision 3MJR LLC Area 32
* * * * *
EXHIBIT B
FORM OF REDEVELOPMENT PLAN
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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 - 10/13/2021 Page 120 / 194
Existing Land Use and Subject Property
Grand Island Regular Meeting - 10/13/2021 Page 121 / 194
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 - 10/13/2021 Page 122 / 194
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 - 10/13/2021 Page 123 / 194
City of Grand Island Future Land Use Map
Grand Island Regular Meeting - 10/13/2021 Page 124 / 194
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 - 10/13/2021 Page 125 / 194
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 - 10/13/2021 Page 126 / 194
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 - 10/13/2021 Page 127 / 194
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 - 10/13/2021 Page 128 / 194
(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 - 10/13/2021 Page 129 / 194
(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 - 10/13/2021 Page 130 / 194
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 - 10/13/2021 Page 131 / 194
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 - 10/13/2021 Page 132 / 194
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 $ ______________
1RWH 7,)UHTXHVWHGDW]HURSHUFHQWOHQGLQJUDWHLV$PRXQWILQDQFHGLQLWHP(DERYHLVSULQFLSDORQO\SRUWLRQDIWHUDSSO\LQJD
OHQGLQJUDWHRQD\HDUWHUPQRWHZLWKPRQWKO\SD\PHQWV LQWHUHVWFRPSRQHQWLV
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 - 10/13/2021 Page 133 / 194
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 - 10/13/2021 Page 134 / 194
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 - 10/13/2021 Page 135 / 194
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 - 10/13/2021 Page 136 / 194
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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 - 10/13/2021 Page 137 / 194
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 - 10/13/2021 Page 138 / 194
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 - 10/13/2021 Page 139 / 194
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 - 10/13/2021 Page 140 / 194
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 - 10/13/2021 Page 141 / 194
Grand Island Regular Meeting - 10/13/2021 Page 142 / 194
Grand Island Regular Meeting - 10/13/2021 Page 143 / 194
Exhibit A
Grand Island Regular Meeting - 10/13/2021 Page 144 / 194
Exhibit A
Grand Island Regular Meeting - 10/13/2021 Page 145 / 194
Exhibit A
Grand Island Regular Meeting - 10/13/2021 Page 146 / 194
Exhibit A
Grand Island Regular Meeting - 10/13/2021 Page 147 / 194
Exhibit A
Grand Island Regular Meeting - 10/13/2021 Page 148 / 194
Exhibit A
Grand Island Regular Meeting - 10/13/2021 Page 149 / 194
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 - 10/13/2021 Page 150 / 194
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 - 10/13/2021 Page 151 / 194
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 - 10/13/2021 Page 152 / 194
Grand IslandRegular Meeting - 10/13/2021Page 153 / 194
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
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Exhibit D
Annual Income & Expense Pro Forma
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Grand Island Regular Meeting - 10/13/2021 Page 158 / 194
Grand Island Regular Meeting - 10/13/2021 Page 159 / 194
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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
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Grand Island Regular Meeting - 10/13/2021 Page 164 / 194
Community Redevelopment
Authority (CRA)
Wednesday, October 13, 2021
Regular Meeting
Item I3
Redevelopment Plan Amendment for CRA Area #33 - Innate
Development 2, LLC.
Staff Contact:
Grand Island Regular Meeting - 10/13/2021 Page 165 / 194
Legacy 34 2022 (formerly Husker Highway 2022) Innate Development 2 LLC Area 33
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 368
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 Innate Development 2 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 - 10/13/2021 Page 166 / 194
Legacy 34 2022 (formerly Husker Highway 2022) Innate Development 2 LLC Area 33
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 $14,430,226 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 - 10/13/2021 Page 167 / 194
Legacy 34 2022 (formerly Husker Highway 2022) Innate Development 2 LLC Area 33
EXHIBIT A
LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA
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 - 10/13/2021 Page 168 / 194
Legacy 34 2022 (formerly Husker Highway 2022) Innate Development 2 LLC Area 33
* * * * *
EXHIBIT B
FORM OF REDEVELOPMENT PLAN
Grand Island Regular Meeting - 10/13/2021 Page 169 / 194
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
RESIDENTIAL, 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 (Legacy 34 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
Legacy 34 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 Legacy 34 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 Legacy 34 2022 phase of this development will take up to 5 years to
complete and that the next phase will likely begin before the last of this one has being
developed. It is unlikely that full development of this site will be done in less than 15
Grand Island Regular Meeting - 10/13/2021 Page 170 / 194
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 Legacy 34 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 - 10/13/2021 Page 171 / 194
Existing Land Use and Subject Property
Grand Island Regular Meeting - 10/13/2021 Page 172 / 194
The tax increment on Legacy 34 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 or redevelopment contract amendment, consistent with this
Redevelopment Plan. This plan anticipates 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
Legacy 34 2022. The Legacy 34 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,
Grand Island Regular Meeting - 10/13/2021 Page 173 / 194
whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in
whole or in part, the redevelopment project, including the payment of the principal of,
premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness.
Redevelopment Plan Amendment Complies with the Act:
The Community Development Law requires that a Redevelopment Plan and Project
consider and comply with a number of requirements. This Plan Amendment meets the
statutory qualifications as set forth below.
1. The Redevelopment Project Area has been declared blighted and substandard by
action of the Grand Island City Council on 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 - 10/13/2021 Page 174 / 194
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 - 10/13/2021 Page 175 / 194
improvements may be built. 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 lines 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 - 10/13/2021 Page 176 / 194
City of Grand Island Future Land Use Map
Grand Island Regular Meeting - 10/13/2021 Page 177 / 194
Proposed Development Plan for the 200 acre site with genaral use types and amenenities
with the 27.83 acres Legacy 34 2022 project highlighted
Grand Island Regular Meeting - 10/13/2021 Page 178 / 194
Proposed layout for Legacy 34 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 Legacy 34
2022 phase and the remainder will be attributed to future phases. For the Legacy 34 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 Legacy 34 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 - 10/13/2021 Page 179 / 194
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 Legacy 34 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 Legacy 34 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 Legacy 34 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 completion of the Legacy
Grand Island Regular Meeting - 10/13/2021 Page 180 / 194
34 2022 phase. It is anticipated that the developers will be including TIF in the capital
stack of future phases but each future phase will be 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 - 10/13/2021 Page 181 / 194
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/Parking $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
Landscaping/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 Legacy 34 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
Grand Island Regular Meeting - 10/13/2021 Page 182 / 194
(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
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. The tax shift from this project will be equal to the total of the bond
principal of $14,430,226 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 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 Legacy 34 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 - 10/13/2021 Page 183 / 194
(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 Legacy 34 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 Legacy 34 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
of increment based upon the anticipated value of the project and current tax rate. Based
1 https://nces.ed.gov/ccd/districtsearch/district_detail.asp?ID2=3100016
Grand Island Regular Meeting - 10/13/2021 Page 184 / 194
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 - 10/13/2021 Page 185 / 194
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 - 10/13/2021 Page 186 / 194
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 - 10/13/2021 Page 187 / 194
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 - 10/13/2021 Page 188 / 194
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 - 10/13/2021 Page 189 / 194
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 - 10/13/2021 Page 190 / 194
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 - 10/13/2021 Page 191 / 194
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 - 10/13/2021 Page 192 / 194
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
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