08-10-2022 Community Redevelopment Authority Regular Meeting Packet
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting Packet
Board Members:
Tom Gdowski - Chairman
Jim Truell - Vice Chairman
Sue Pirnie
Bart Qualsett
Krae Dutoit
4:00 PM
Grand Island Regular Meeting - 8/10/2022 Page 1 / 129
Call to Order
Roll Call
A - SUBMITTAL OF REQUESTS FOR FUTURE ITEMS
Individuals who have appropriate items for City Council consideration should complete the Request for
Future Agenda Items form located at the Information Booth. If the issue can be handled administratively
without Council action, notification will be provided. If the item is scheduled for a meeting or study
session, notification of the date will be given.
B - RESERVE TIME TO SPEAK ON AGENDA ITEMS
This is an opportunity for individuals wishing to provide input on any of tonight's agenda items to reserve
time to speak. Please come forward, state your name and address, and the Agenda topic on which you will
be speaking.
DIRECTOR COMMUNICATION
This is an opportunity for the Director to comment on current events, activities, and issues of interest to
the commission.
Grand Island Regular Meeting - 8/10/2022 Page 2 / 129
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item A1
Agenda - August 10, 2022
Staff Contact:
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Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item B1
July 13, 2022 Minutes
Staff Contact:
Grand Island Regular Meeting - 8/10/2022 Page 6 / 129
OFFICIAL PROCEEDINGS
MINUTES OF
COMMUNITY REDEVELOPMENT AUTHORITY
MEETING OF
July 13, 2022
Pursuant to due call and notice thereof, a Meeting of the Community Redevelopment Authority of
the City of Grand Island, Nebraska was conducted on July 13, 2022 at City Hall, 100 E. First
Street. Notice of the meeting was given in the July 7, 2022 Grand Island Independent.
1. CALL TO ORDER.
Chairman Gdowski called the meeting to order at 4:00 p.m. The following members were
present: Tom Gdowski, Jim Truell, Chris Schwieger and Sue Pirnie attending via zoom.
Also present were: Planning Director Chad Nabity, Planning Administrative Assistant
Norma Hernandez.
2. APPROVAL OF MINUTES.
A motion for approval of the Minutes for the July 13, 2022 meeting was made by Truell
and second by Pirnie. Upon roll call vote, all present voted aye. Motion carried 4-0
3. RATIFICATION OF ACTION ITEMS.
Ratification of action items from CRA meetings beginning June 8, 2021 and ending June
22, 2022. A motion was made by Truell and Pirnie second by r to approve ratification of
action items of CRA meetings beginning June 8, 2022 – June 22, 2022. Upon roll call vote,
all present voted aye. Motion carried 4-0
4. APPROVAL OF FINANCIAL REPORTS.
A motion for approval of financials for June 2022 was made by Truell and second by
Schwieger. Upon roll call vote, all present voted aye. Motion carried 4-0
5. APPROVAL OF BILLS
A motion was made by Truell and second by Schwieger to approve the bills for
$92,636.18. Upon roll call vote, all present voted aye. Motion carried 4-0.
6. REVIEW OF COMMITED PROJECTS & CRA PROPERTY.
The committed projects and CRA projects were reviewed by Nabity.
Oberg project – will not be done. Waiting on glass order. Will hold funds until
project is complete.
Floodman Project – Should be done before the end of the fiscal year.
Take Flight – Not sure it will be done this year.
Hedde Building – Will not be done before the end of September.
Azure Apartments – May be done until the beginning of next year.
Rawr Holdings – Nabity will send letter/30 day notice to Travis Spiehs.
Grand Island Regular Meeting - 8/10/2022 Page 7 / 129
7. Redevelopment Contract and Bond Resolution Plan Amendment CRA Area
36 – Northwest Gateway Subdivision Lots 10, 11 and 12 (4157, 4161 and 4163
Montana Avenue – Paramount Development LLC
a. Consideration of Resolution 394 – Bond Resolution for Lots 10, 11, and
12 (4157, 4161 and 4163 Montana Avenue) – Paramount Development
LLC
Nabity stated the plan requests $263,200 in tax increment financing along with
associated interest on the TIF bonds. The City Council approved the
redevelopment plan. The contract has not changed
A motion was made by Truell and second by Pirnie to approve the
redevelopment contract and Resolution 394. Upon roll call vote, all present
voted. Motion carried 3 aye – 1 abstain (Gdowski).
8. Redevelopment Contract and Bond Resolution Plan Amendment CRA Area
6 – Trinity Heights Subdivision – Mesner Development
a. Consideration of Resolution 395 – Bond Resolution for Trinity
Heights Subdivision – Mesner Development
Nabity stated the plan requests $1,767,409 in tax increment financing along with
associated interest on the TIF bonds. The plat was approved last night at the City
Council Meeting and the rezoning request was approved back in January 2021.
The west side of the north south street between Blessed Sacrament Church and
Super Saver was approved for a low income tax credit project.
A motion was made by Truell and second by Schweigher to approve Resolution
395. Upon roll call vote, all present voted aye. Motion carried 4-0.
9. Redevelopment Plan Amendment CRA Area 34 – Millennial Estates
Subdivision property located in the E ½ of the SW ¼ of 12-11-10 – Starostka
Group Unlimited.
a. Consideration of Resolution 396 – Forward a Redevelopment Plan
Amendment to the Hall County Regional Planning Commission
Millennial Estates Subdivision property located in the E ½ of the SW ¼
of 12-11-10 – Starostka Group Unlimited
b. Consideration of Resolution 397 – Resolution of Intent to enter into a
Site Specific Redevelopment Contract and Approval of related actions
30-day notice to city council Millennial Estates Subdivision property
located in the E ½ of the SW ¼ of 12-11-10- Starostka Group Unlimited
Grand Island Regular Meeting - 8/10/2022 Page 8 / 129
Nabity stated the redevelopment plan for CRA Area No. 34 is for development
of 120 housing units on the proposed Millennial Estates Subdivision north of 13th
Street and west of the Moore’s Creek Drainway along with an extension of
Claude Road between 13th Street and the north edge of the Millennial Estates
project. Proposing to build 12-13 houses a year for the next 9 years.
A motion was by Truell and second by Pirnie to approve Resolution 396 and
Resolution 397. Upon roll call vote, all present voted aye. Motion carried 4-0.
10. Consideration of Other Projects Grant Request from Hope Harbor for
acquisition and demolition of properties in CRA Area 2.
Nabity stated Hope Harbor is requesting $50,000 from CRA to aid in purchase and
demolition. They have the opportunity to purchase the remainder of the block they own.
They will be awarded a community development block grant for acquisition. Hope
Harbor plans is to rebuild 11-12 units for transitional housing at the location.
A motion was made by Truell and second by Schwieger to approve Hope Harbor Grand
request for $50,000 with the understanding Hope Harbor will consent to the CRA holding
a lien on the property that is forgivable upon completion of replacement housing on the
lots. Payment to Hope Harbor will be made after they acquire the property. Upon roll call
vote, all present voted aye. Motion carried 4-0.
11. 2022-23 BUDGET DISCUSSION
Nabity reviewed the budget.
Nabity stated the amount for the façade line item could potentially go up to $350,000 or
$400,000 and keep $200,000 in other projects. Nabity mentioned the CRA will receive
bigger applications this year.
Life Safety – Bring it back or wait another year
Nabity asked board members if they would like to keep the levy the same, reduce the
levy or capture the growth. Nabity mentioned last year the CRA decided to capture the
growth.
Nabity also stated the CRA could keep the same dollar amount as last year and that will
reduce the levy.
Nabity will figure the budget based on no increase.
Grand Island Regular Meeting - 8/10/2022 Page 9 / 129
12. Director’s Report
Sculpture Walk Invite –
Hedde Builing 201 W. 3rd Street
Friday, July 22nd at 8:30 a.m.
13. Adjournment 4:52 p.m.
Respectfully Submitted,
Norma Hernandez
Grand Island Regular Meeting - 8/10/2022 Page 10 / 129
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item C1
Financials - July 2022
Staff Contact:
Grand Island Regular Meeting - 8/10/2022 Page 11 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
CONSOLIDATED
Beginning Cash 880,629 548,785
REVENUE:
Property Taxes - CRA 9,351 393,262 524,191 130,929 75.02%
Property Taxes - Lincoln Pool 1,691 114,544 196,818 82,274 58.20%
Property Taxes -TIF's 9,106 2,972,347 5,400,000 3,305,740 55.04%
Loan Income (Poplar Street Water Line) - - 20,000 20,000 0.00%
Interest Income - CRA 265 1,395 10,000 8,605 13.95%
Interest Income - TIF'S - - - -
Land Sales - - - - #DIV/0!
Other Revenue - CRA 601 216,911 200,000 - 108.46%
Other Revenue - TIF's - - - -
TOTAL REVENUE 21,015 3,698,459 6,351,009 3,547,548 58.23%
TOTAL RESOURCES 901,644 3,698,459 6,899,794 3,547,548
EXPENSES
Auditing & Accounting - - 3,000 3,000 0.00%
Legal Services - 60 3,000 2,940 2.00%
Consulting Services - - 5,000 5,000 0.00%
Contract Services 4,618 63,270 75,000 11,730 84.36%
Printing & Binding - - 1,000 1,000 0.00%
Other Professional Services - 10,392 16,000 5,608 64.95%
General Liability Insurance - - 250 250 0.00%
Postage - - 250 250 0.00%
Legal Notices 18 195 500 305 38.96%
Travel & Training - 35 4,000 3,965 0.88%
Other Expenditures - - - -
Office Supplies - - 1,000 1,000 0.00%
Supplies - - 300 300 0.00%
Land - - 30,000 30,000
Bond Principal - Lincoln Pool - 190,000 190,000 - 100.00%
Bond Interest - 6,818 6,818 - 100.00%
Fiscal Agent Fees/Bond Costs - 525 - -
Husker Harvest Days - 200,000 200,000 - 100.00%
Façade Improvement 88,000 88,000 250,000 162,000 35.20%
Building Improvement - 135,000 500,000 365,000 27.00%
Other Projects - 10,000 200,000 190,000 5.00%
Bond Principal-TIF's - 2,940,158 5,400,000 2,459,842 54.45%
Bond Interest-TIF's - - - -
Interest Expense - - - -
TOTAL EXPENSES 92,636 3,644,453 6,886,118 3,242,189 52.92%
INCREASE(DECREASE) IN CASH (71,621) 54,006 (535,109)
ENDING CASH 809,008 54,006 13,677 -
CRA CASH 709,847
Lincoln Pool Tax Income Balance 66,394
TIF CASH 32,766
Total Cash 809,008
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
Grand Island Regular Meeting - 8/10/2022 Page 12 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
GENERAL OPERATIONS:
Property Taxes - CRA 9,351 393,262 524,191 130,929 75.02%
Property Taxes - Lincoln Pool 1,691 114,544 196,818 82,274 58.20%
Interest Income 265 1,395 10,000 8,605 13.95%
Loan Income (Poplar Street Water Line) - 20,000 20,000 0.00%
Land Sales - - - #DIV/0!
Other Revenue & Motor Vehicle Tax 601 216,911 200,000 - 108.46%
TOTAL 11,909 726,112 951,009 241,808 76.35%
GIRARD VET CLINIC
Property Taxes 11,300 -
TOTAL - 11,300 - -
GEDDES ST APTS-PROCON
Property Taxes 33,205 -
TOTAL - 33,205 - -
SOUTHEAST CROSSING
Property Taxes - -
TOTAL - - - -
POPLAR STREET WATER
Property Taxes 13,199 -
TOTAL - 13,199 - -
CASEY'S @ FIVE POINTS
Property Taxes 8,398 -
TOTAL - 8,398 - -
SOUTH POINTE HOTEL PROJECT
Property Taxes 47,032 -
TOTAL - 47,032 - -
TOKEN PROPERTIES RUBY
Property Taxes 1,705 -
TOTAL - 1,705 - -
GORDMAN GRAND ISLAND
Property Taxes 85,161 -
TOTAL - 85,161 - -
BAKER DEVELOPMENT INC
Property Taxes 2,136 -
TOTAL - 2,136 - -
STRATFORD PLAZA INC
Property Taxes 34,578 -
TOTAL - 34,578 - -
COPPER CREEK 2013 HOUSES
Property Taxes 2,680 71,664 -
TOTAL 2,680 71,664 - -
Grand Island Regular Meeting - 8/10/2022 Page 13 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
FUTURE TIF'S
Property Taxes - 5,400,000 5,400,000
TOTAL - - 5,400,000 5,400,000
CHIEF INDUSTRIES AURORA COOP
Property Taxes 20,745 (20,745)
TOTAL - 20,745 - (20,745)
TOKEN PROPERTIES KIMBALL ST
Property Taxes 1,686 (1,686)
TOTAL - 1,686 - (1,686)
GI HABITAT OF HUMANITY
Property Taxes 3,130 (3,130)
TOTAL - 3,130 - (3,130)
AUTO ONE INC
Property Taxes 15,379 (15,379)
TOTAL - 15,379 - (15,379)
EIG GRAND ISLAND
Property Taxes 41,442 (41,442)
TOTAL - 41,442 - (41,442)
TOKEN PROPERTIES CARY ST
Property Taxes 4,437 (4,437)
TOTAL - 4,437 - (4,437)
WENN HOUSING PROJECT
Property Taxes 2,936 (2,936)
TOTAL - 2,936 - (2,936)
COPPER CREEK 2014 HOUSES
Property Taxes 3,342 269,504 (269,504)
TOTAL 3,342 269,504 - (269,504)
TC ENCK BUILDERS
Property Taxes 1,947 (1,947)
TOTAL - 1,947 - (1,947)
SUPER MARKET DEVELOPERS
Property Taxes 17,190 (17,190)
TOTAL - 17,190 - (17,190)
MAINSTAY SUITES
Property Taxes 36,384 (36,384)
TOTAL - 36,384 - (36,384)
TOWER 217
Property Taxes 26,338 (26,338)
TOTAL - 26,338 - (26,338)
COPPER CREEK 2015 HOUSES
Property Taxes 1,776 164,039 - (164,039)
TOTAL 1,776 164,039 - (164,039)
Grand Island Regular Meeting - 8/10/2022 Page 14 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
NORTHWEST COMMONS
Property Taxes 214,293 - (214,293)
TOTAL - 214,293 - (214,293)
HABITAT - 8TH & SUPERIOR
Property Taxes 6,572 (6,572)
TOTAL - 6,572 - (6,572)
KAUFMAN BUILDING
Property Taxes 6,644 (6,644)
TOTAL - 6,644 - (6,644)
TALON APARTMENTS
Property Taxes 97,227 (97,227)
TOTAL - 97,227 - (97,227)
VICTORY PLACE
Property Taxes 5,166 (5,166)
TOTAL - 5,166 - (5,166)
THINK SMART
Property Taxes 6,652 (6,652)
TOTAL - 6,652 - (6,652)
BOSSELMAN HQ
Property Taxes 77,291 (77,291)
TOTAL - 77,291 - (77,291)
TALON APARTMENTS 2017
Property Taxes 109,377 (109,377)
TOTAL - 109,377 - (109,377)
WEINRICH DEVELOPMENT
Property Taxes 3,488 (3,488)
TOTAL - 3,488 - (3,488)
WING WILLIAMSONS
Property Taxes 2,152 (2,152)
TOTAL - 2,152 - (2,152)
HATCHERY HOLDINGS
Property Taxes 87,855 (87,855)
TOTAL - 87,855 - (87,855)
FEDERATION LABOR TEMPLE
Property Taxes 3,757 (3,757)
TOTAL - 3,757 - (3,757)
MIDDLETON PROPERTIES II
Property Taxes 8,040 (8,040)
TOTAL - 8,040 - (8,040)
COPPER CREEK 2016 HOUSES
Property Taxes 103,856 (103,856)
TOTAL - 103,856 - (103,856)
Grand Island Regular Meeting - 8/10/2022 Page 15 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
EAST PARK ON STUHR
Property Taxes 54,155 (54,155)
TOTAL - 54,155 - (54,155)
MENDEZ ENTERPRISES LLC PHASE 1
Property Taxes 953 (953)
TOTAL - 953 - (953)
EAST PARK ON STUHR
Property Taxes 5,712 (5,712)
TOTAL - 5,712 - (5,712)
TAKE FLIGHT INVESTMENTS
Property Taxes 8,552 (8,552)
TOTAL - 8,552 - (8,552)
PRATARIA VENTURES HOSPITAL
Property Taxes 807,039 (807,039)
TOTAL - 807,039 - (807,039)
AMMUNITION PLANT
Property Taxes - -
TOTAL - - - -
URBAN ISLAND LLC
Property Taxes 3,694 (3,694)
TOTAL - 3,694 - (3,694)
PEACEFUL ROOT
Property Taxes 5,178 (5,178)
TOTAL - 5,178 - (5,178)
TALON 2019 LOOKBACK
Property Taxes 2,897 (2,897)
TOTAL - 2,897 - (2,897)
COPPER CREEK PH2 2019 LOOKBACK
Property Taxes 15,228 (15,228)
TOTAL - 15,228 - (15,228)
GRAND ISLAND HOTEL
Property Taxes 59,036 (59,036)
TOTAL - 59,036 - (59,036)
PARAMOUNT OLD SEARS
Property Taxes 4,155 (4,155)
TOTAL - 4,155 - (4,155)
CENTRAL NE TRUCK WASH
Property Taxes 41,442 (41,442)
TOTAL - 41,442 - (41,442)
PRATARIA VENTURES MEDICAL OFFICE
Grand Island Regular Meeting - 8/10/2022 Page 16 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
Property Taxes 218,444 (218,444)
TOTAL - 218,444 - (218,444)
TALON 2020 LOOKBACK PHASE 4
Property Taxes 31,006 (31,006)
TOTAL - 31,006 - (31,006)
STAROSTKA 5TH ST LOOKBACK PHASE 1
Property Taxes 7,036 (7,036)
TOTAL - 7,036 - (7,036)
COPPER CREEK PHASE 2 2020 LOOKBACK
Property Taxes 15,360 (15,360)
TOTAL - 15,360 - (15,360)
COPPER CREEK PHASE 3 2020 LOOKBACK
Property Taxes 689 11,556 (11,556)
TOTAL 689 11,556 - (11,556)
HEDDE BUILDING 201 W 3RD
Property Taxes 521 (521)
TOTAL - 521 - (521)
RAWR HOLDINGS LLC 110 W 2ND
Property Taxes 30 (30)
TOTAL - 30 - (30)
ORCHARD REDEVELOPMENT PROJECT
Property Taxes 13,634 (13,634)
TOTAL - 13,634 - (13,634)
AMUR REAL ESTATE OLD WELLS FARGO
Property Taxes 12,809 (12,809)
TOTAL - 12,809 - (12,809)
WALD 12 PROPERTIES LLC
Property Taxes 618 683 (683)
TOTAL 618 683 - (683)
WING PROPERTIES 112 E 3RD ST
Property Taxes 82 (82)
TOTAL - 82 - (82)
WEINRICH DEVELOPMENT 408 E 2ND ST
Property Taxes 3,234 (3,234)
TOTAL - 3,234 - (3,234)
O'NEILL WOOD RESOURCES
Property Taxes 105 (105)
TOTAL - 105 - (105)
SOUTHEAST COMMONS - FONNERVIEW
Property Taxes 2,372 (2,372)
TOTAL - 2,372 - (2,372)
Grand Island Regular Meeting - 8/10/2022 Page 17 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
PARAMOUNT 824 E 9TH ST
Property Taxes 264 (264)
TOTAL - 264 - (264)
J&L WESTWARD ENTERPRISES CAAP
Property Taxes 1,090 (1,090)
TOTAL - 1,090 - (1,090)
MILLER TIRE
Property Taxes 176 (176)
TOTAL - 176 - (176)
TOTAL REVENUE 21,015 3,698,459 6,351,009 2,977,838 58.23%
- - -
Grand Island Regular Meeting - 8/10/2022 Page 18 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
EXPENSES
CRA
GENERAL OPERATIONS:
Auditing & Accounting - 3,000 3,000 0.00%
Legal Services 60 3,000 2,940 2.00%
Consulting Services - 5,000 5,000 0.00%
Contract Services 4,618 63,270 75,000 11,730 84.36%
Printing & Binding - 1,000 1,000 0.00%
Other Professional Services 10,392 16,000 5,608 64.95%
General Liability Insurance - 250 250 0.00%
Postage - 250 250 0.00%
Legal Notices 18 195 500 305 38.96%
Travel & Training 35 4,000 3,965 0.88%
Other Expenditures - -
Office Supplies - 1,000 1,000 0.00%
Supplies - 300 300 0.00%
Land - 30,000 30,000 0.00%
Bond Principal - Lincoln Pool 190,000 190,000 - 100.00%
Bond Interest - Lincoln Pool 6,818 6,818 - 100.00%
Fiscal Agent Fees/Bond Costs 525 - #DIV/0!
PROJECTS
Husker Harvest Days 200,000 200,000 - 100.00%
Façade Improvement 88,000 88,000 250,000 162,000 35.20%
Building Improvement 135,000 500,000 365,000 0.00%
Other Projects 10,000 200,000 190,000 5.00%
TOTAL CRA EXPENSES 92,636 704,295 1,486,118 782,348 47.39%
GIRARD VET CLINIC
Bond Principal 11,300 - -
TOTAL - 11,300 - -
GEDDES ST APTS - PROCON
Bond Principal 32,374 - -
TOTAL - 32,374 - -
SOUTHEAST CROSSINGS
Bond Principal - - -
TOTAL - - - -
POPLAR STREET WATER
Bond Principal 13,199 - -
TOTAL - 13,199 - -
CASEY'S @ FIVE POINTS
Bond Principal 8,398 - -
TOTAL - 8,398 - -
SOUTH POINTE HOTEL PROJECT
Bond Principal 47,032 - -
TOTAL - 47,032 - -
Grand Island Regular Meeting - 8/10/2022 Page 19 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
TOKEN PROPERTIES RUBY
Bond Principal 1,705 - -
TOTAL - 1,705 - -
GORDMAN GRAND ISLAND
Bond Principal 85,161 - -
TOTAL - 85,161 - -
BAKER DEVELOPMENT INC
Bond Principal 2,136 - -
TOTAL - 2,136 - -
STRATFORD PLAZA LLC
Bond Principal 34,578 - -
TOTAL - 34,578 - -
COPPER CREEK 2013 HOUSES
Bond Principal 68,482 - -
TOTAL - 68,482 - -
CHIEF INDUSTRIES AURORA COOP
Bond Principal 20,745 - -
TOTAL - 20,745 - -
TOKEN PROPERTIES KIMBALL STREET
Bond Principal 1,686 - -
TOTAL - 1,686 - -
GI HABITAT FOR HUMANITY
Bond Principal 3,130 - -
TOTAL - 3,130 - -
AUTO ONE INC
Bond Principal 14,994 - -
TOTAL - 14,994 - -
EIG GRAND ISLAND
Bond Principal 41,442 - -
TOTAL - 41,442 - -
TOKEN PROPERTIES CARY STREET
Bond Principal 4,437 - -
TOTAL - 4,437 - -
WENN HOUSING PROJECT
Bond Principal 2,936 - -
TOTAL - 2,936 - -
COPPER CREEK 2014 HOUSES
Bond Principal 266,162 - -
TOTAL - 266,162 - -
TC ENCK BUILDERS
Bond Principal 1,947 - -
TOTAL - 1,947 - -
Grand Island Regular Meeting - 8/10/2022 Page 20 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
SUPER MARKET DEVELOPERS
Bond Principal - - -
TOTAL - - - -
MAINSTAY SUITES
Bond Principal 36,384 - -
TOTAL - 36,384 - -
TOWER 217
Bond Principal 25,683 - -
TOTAL - 25,683 - -
COPPER CREEK 2015 HOUSES
Bond Principal 162,263 - -
TOTAL - 162,263 -
NORTHWEST COMMONS
Bond Principal 214,293 - -
TOTAL - 214,293 -
HABITAT - 8TH & SUPERIOR
Bond Principal 6,572 - -
TOTAL - 6,572 -
KAUFMAN BUILDING
Bond Principal 6,644 - -
TOTAL - 6,644 -
TALON APARTMENTS
Bond Principal 97,227 - -
TOTAL - 97,227 -
VICTORY PLACE
Bond Principal 5,166 - -
TOTAL - 5,166 -
FUTURE TIF'S
Bond Principal - 5,400,000 5,400,000
TOTAL - - 5,400,000 5,400,000
THINK SMART
Bond Principal 6,486 - -
TOTAL - 6,486 -
BOSSELMAN HQ
Bond Principal 77,291 - -
TOTAL - 77,291 -
TALON APARTMENTS 2017
Bond Principal 112,198 - -
TOTAL - 112,198 -
Grand Island Regular Meeting - 8/10/2022 Page 21 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
WEINRICH DEVELOPMENT
Bond Principal 3,488 - -
TOTAL - 3,488 -
WING WILLIAMSONS
Bond Principal 2,152 - -
TOTAL - 2,152 -
HATCHERY HOLDINGS
Bond Principal 87,855 - -
TOTAL - 87,855 -
FEDERATION LABOR TEMPLE
Bond Principal 3,757 - -
TOTAL - 3,757 -
MIDDLETON PROPERTIES II
Bond Principal 8,040 - -
TOTAL - 8,040 -
COPPER CREEK 2016 HOUSES
Bond Principal 103,856 - -
TOTAL - 103,856 -
EAST PARK ON STUHR
Bond Principal 59,867 - -
TOTAL - 59,867 -
TAKE FLIGHT INVESTMENTS
Bond Principal 8,408 - -
TOTAL - 8,408 -
PRATARIA VENTURES HOSPITAL
Bond Principal 1,014,540 - -
TOTAL - 1,014,540 -
AMMUNITION PLANT
Bond Principal - - -
TOTAL - - -
URBAN ISLAND LLC
Bond Principal 3,694 - -
TOTAL - 3,694 -
PEACEFUL ROOT
Bond Principal 5,048 - -
TOTAL - 5,048 -
TALON 2019 LOOKBACK
Bond Principal - - -
TOTAL - - -
COPPER CREEK PH2 2019 LOOKBACK
Bond Principal 15,228 - -
TOTAL - 15,228 -
Grand Island Regular Meeting - 8/10/2022 Page 22 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
GRAND ISLAND HOTEL
Bond Principal 59,036 - -
TOTAL - 59,036 -
PARAMOUNT OLD SEARS
Bond Principal 4,155 - -
TOTAL - 4,155 -
CENTRAL NE TRUCK WASH
Bond Principal 41,442 - -
TOTAL - 41,442 -
PRATARIA VENTURES MEDICAL OFFICE
Bond Principal 10,942 - -
TOTAL - 10,942 -
TALON 2020 LOOKBACK PHASE 4
Bond Principal 30,198 - -
TOTAL - 30,198 -
STAROSTKA 5TH ST LOOKBACK PHASE 1
Bond Principal 7,036 - -
TOTAL - 7,036 -
COPPER CREEK PHASE 2 2020 LOOKBACK
Bond Principal 15,360 - -
TOTAL - 15,360 -
COPPER CREEK PHASE 3 2020 LOOKBACK
Bond Principal 10,867 - -
TOTAL - 10,867 -
HEDDE BUILDING 201 W 3RD
Bond Principal - - -
TOTAL - - -
RAWR HOLDINGS LLC 110 W 2ND ST
Bond Principal - - -
TOTAL - - -
ORCHARD REDEVELOPMENT PROJECT
Bond Principal 13,634 - -
TOTAL - 13,634 -
AMUR REAL ESTATE OLD WELLS FARGO
Bond Principal 12,809 - -
TOTAL - 12,809 -
WALD 12 PROPERTIES LLC OLD GREENB
Bond Principal - - -
TOTAL - - -
WING PROPERTIES 112 2 3RD ST
Bond Principal - - -
Grand Island Regular Meeting - 8/10/2022 Page 23 / 129
MONTH ENDED 2021-2022 2022 REMAINING % OF BUDGET
July-22 YEAR TO DATE BUDGET BALANCE USED
COMMUNITY REDEVELOPMENT AUTHORITY
FOR THE MONTH OF JULY 2022
TOTAL - - -
WEINRICH DEVELOPMENT 408 E 2ND ST
Bond Principal 3,234 - -
TOTAL - 3,234 -
O'NEILL WOOD RESOURCES
Bond Principal - - -
TOTAL - - -
SOUTHEAST COMMONS - FONNERVIEW
Bond Principal 2,372 - -
TOTAL - 2,372 -
PARAMOUNT 824 E 9TH ST
Bond Principal - - -
TOTAL - - -
J&L WESTWARD ENTERPRISES CAAP
Bond Principal 1,090 - -
TOTAL - 1,090 -
MILLER TIRE
Bond Principal - - -
TOTAL - - -
TOTAL EXPENSES 92,636 3,644,453 6,886,118 6,182,348 52.92%
Grand Island Regular Meeting - 8/10/2022 Page 24 / 129
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item D1
Bills - August 2022
Staff Contact:
Grand Island Regular Meeting - 8/10/2022 Page 25 / 129
Grand Island Regular Meeting - 8/10/2022 Page 26 / 129
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item E1
July 2022 Committed Projects and CRA Properties
Staff Contact:
Grand Island Regular Meeting - 8/10/2022 Page 27 / 129
COMMITTED PROJECTS REMAINING
GRANT
AMOUNT
2022 FISCAL YR 2023 FISCAL YR 2024 FISCAL YR ESTIMATED
COMP
Danny Oberg - 321 E 4th St (10/25/21) $ 43,810.00 $ 43,810.00 Summer 2022
Brandon Flodman - 313 W 2nd St $ 59,783.00 $ 59,783.00 Summer 2022
Take Flight - 213 W 3rd St (10/25/21) $ 49,000.00 $ 49,000.00 Summer 2022
Dave Parmely - 208 N Locust St (10/13/21) $ 13,920.00 $ 13,920.00 Summer 2022
Hope Harbor $ 50,000.00 $ 50,000.00 Fall 2022
Total Committed $ 314,513.00 $ 314,513.00 $ - $ -
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) $ 260,000.00 $ 260,000.00 Fall 2022
Azure Investment Group (5-12-21) $ 70,000.00 $ 70,000.00 Spring 2022
Rawr Holdings 110 W 2nd (12/12/18) $ 35,000.00 $ 35,000.00 Fall 2022
Total Committed F&L Safety Grant $ 365,000.00 $ 365,000.00 $ - $ -
BUDGET 2022 2022 LEFT
Façade Budgeted 2022 $ 250,000.00 $ 250,000.00 $ -
Other Projects Budgeted 2022 $ 200,000.00 $ 64,513.00 $ 135,487.00
Land - Budgeted 2022 $ 30,000.00 $ - $ 30,000.00
Land Sales Budgeted 2022 $ - $ - $ -
subtotal $ 314,513.00 $ 165,487.00
Balance $ 314,513.00 $ 165,487.00
BUDGET PAID LEFT
Building Improvements * $ 500,000.00 $ 135,000.00 $ 365,000.00
*Includes Life Safety, Façade, Other grants made in previous fiscal years
CRA PROPERTIES
Address Purchase Price Purchase Date Demo Cost Status
3235 S Locust (Desert Rose) $450,000 4/2/2010 $39,764 Surplus
July 31, 2022
Grand Island Regular Meeting - 8/10/2022 Page 28 / 129
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item G1
Request from Chamber
Staff Contact:
Grand Island Regular Meeting - 8/10/2022 Page 29 / 129
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Grand Island Regular Meeting - 8/10/2022 Page 31 / 129
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July 14, 2022
3935 Westgate Road
P.O. Box 2078
Grand Island, NE 68802-2078
308.389.7222
Cindy Johnson
Grand Island Chamber of Commerce
309 West 2nd Street
Grand Island, NE 68801
Proposal For: Chamber of Commerce Building Façade Improvement
Chief Construction is pleased to provide a proposal to remove the existing building façade and construct a new façade.
This proposal is based on the proposed elevation Option 2 provided by CMBA Architects and as described below:
General Conditions:
▪ Site Supervisor to oversee the remodel work
▪ Removal of all construction debris
▪ General Liability Insurance, Workman’s Compensation and Builders Risk Insurance
▪ All necessary materials, labor and equipment to complete the work listed below
▪ Safety program for all on site staff and subcontractors
Façade Improvment
▪ Demolition of the existing building facade
▪ New furring and sheeting over original building masonry
▪ Cut in openings for new storefront windows
▪ Install thin brick veneer system
▪ Install new metal wall panel system
▪ Install new aluminum storefront window systems
▪ Install new canopy awning over new storefront entry
▪ Provide wall cap flashings
▪ New concrete stoop and ADA ramp at new storefront entry
▪ Patch gypsum board on interior of building at new window openings only
▪ Touch up painting on interior of building around new windows
▪ Electrical allowance of $5,000 to relocate any light switches and/or outlets for new storefront window systems
TOTAL PRICE FOR THIS WORK: $290,000.00
Respectfully Submitted,
Corey Sibert
Corey Sibert
Project Coordinator
Chief Construction
Grand Island Regular Meeting - 8/10/2022 Page 35 / 129
July 14, 2022
Cindy Johnson
Grand Island Chamber of Commerce
108 N. Locust St.
Grand Island, NE 68801
Re: Grand Island Chamber of Commerce - Community Redevelopment Authority (CRA) Façade Improvement
Dear Cindy,
We are excited to continue developing the selected façade redevelopment design at your office and are pleased to provide a
proposal for our architectural services.
Project Understanding
The Grand Island Chamber of Commerce is applying for façade redevelopment funding to address the North façade for their
existing building. Their vision is to remove the existing EIFS architectural façade and introducing new materials to create a
modern aesthetic.
Having already engaged in the development of an approved schematic design for the CRA Façade Improvement Application,
CMBA Architects shall develop a set of drawings and specifications for bidding and construction by the selected Contractor.
CMBA Architects services shall include Structural Engineering and Electrical Engineering for this portion of the work. The
design team may need to make site visits and/or conduct online meetings to complete their work. Please provide CMBA
Architects with any construction drawings of the existing building, if possible.
Schedule
Upon approval for the requested CRA Façade Improvement funds and with a signed Authorization to Proceed (attached), we
anticipate preparation of Construction Documents shall require two months, pending timely responses to questions from the
design team and desired level of engagement throughout the design process.
If this proposal is accepted, CMBA Architects shall issue an AIA services contract to complete the work.
Proposed Contract for Services
CMBA Architects shall provide architectural services in accordance with the outlined scope for the Design Phase (Schematic
Design) to satisfy the requirements for the Community Redevelopment Authority Façade Improvement application.
Construction Documents $32,300
Biding Assistance / Construction Administration $5,700
A fee totaling Thirty-Eight Thousand Dollars and No Cents ($38,000.00) will be required to complete the work.
If you find the terms of this Proposal acceptable, please sign this letter below and return one copy to CMBA Architects or
provide a similar form of agreement acknowledging the terms noted in this document.
(Continued on next page)
Grand Island Regular Meeting - 8/10/2022 Page 36 / 129
If we have misunderstood your directives in any way, please advise Jim Brisnehan or Shane Labenz. Our team looks forward
to assisting the Grand Island Chamber of Commerce achieve their vision for the office.
Respectfully,
James R. Brisnehan, AIA
COO | Principal
brisnehan.j@cmbaarchitects.com
Shane Labenz, AIA
Architect
labenz.s@cmbaarchitects.com
AGREED AS OF _____________________________________
Date
SIGNED
____________________________________________________
Grand Island Regular Meeting - 8/10/2022 Page 37 / 129
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item I1
Redevelopment Plan Amendment CRA Area 34 - Millennial
Estates Subdivision property located in the E 1/2 of the SW 1/4 of
12-11-10 - Starostka Group Unlimited
Staff Contact:
Grand Island Regular Meeting - 8/10/2022 Page 38 / 129
Area 34 Millennial Estates Starostka Group Unlimited Page 1
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 398
A RESOLUTION RECOMMENDING APPROVAL OF A REDEVELOPMENT PLAN TO
THE CITY OF GRAND ISLAND, NEBRASKA; RECOMMENDING APPROVAL OF A
REDEVELOPMENT PROJECT TO 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 Starostka Group Unlimited. (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.
Grand Island Regular Meeting - 8/10/2022 Page 39 / 129
Area 34 Millennial Estates Starostka Group Unlimited Page 2
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 acquisition of property, preparation for redevelopment
including site work, public utilities and streets, trails and sidewalks 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 $5,650,000 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 10th day of August, 2022.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND NEBRASKA
ATTEST: By: ___________________________________
Chair
By: ___________________________________
Secretary
Grand Island Regular Meeting - 8/10/2022 Page 40 / 129
Area 34 Millennial Estates Starostka Group Unlimited Page 3
EXHIBIT A
LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA
Legal Descriptions: Part of the E ½ of the SW ¼ of 12-11-10 (PID 400149971) and Part of the
E ½ of the SW ¼ 12-11-10 (PID 400149966)
Grand Island Regular Meeting - 8/10/2022 Page 41 / 129
Area 34 Millennial Estates Starostka Group Unlimited Page 4
* * * * *
EXHIBIT B
FORM OF REDEVELOPMENT PLAN
Grand Island Regular Meeting - 8/10/2022 Page 42 / 129
Redevelopment Plan Amendment
Grand Island CRA Area 34
July 2022
The Community Redevelopment Authority (CRA) of the City of Grand Island
intends to amend the Redevelopment Plan for Area 34 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 34.
Executive Summary:
Project Description
THE REDEVELOPMENT APPROXIMATELY 49 ACRES OF PROPERTY
LOCATED NORTH OF 13TH STREET SOUTH OF STATE STREET AND WEST OF
THE MOORE’S CREEK DRAINWAY IN NORTHWEST GRAND ISLAND FOR A
RESIDENTIAL HOUSING INCLUDING UP TO 120 UNITS OF HOUSING.
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 120 units of housing. 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
1361 new rental and owner occupied housing units by 2024.
Starostka Group Unlimited, Inc has purchased a portion of this property and has an
option to purchase rest for residential development. Changes in the cost of construction,
availability of materials and the approval of several other housing projects using Tax
Increment Financing have led to this application for assistance with the project. This
project will also include building a portion of Claude Road along the eastern side of the
property and relocating the existing ditch for the Moore’s Creek Drainway. 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, 2024 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: Part of the E ½ of the SW ¼ of 12-11-10 (PID 400149971) and
Part of the E ½ of the SW ¼ 12-11-10 (PID 400149966)
Grand Island Regular Meeting - 8/10/2022 Page 43 / 129
Existing Land Use and Subject Property
Grand Island Regular Meeting - 8/10/2022 Page 44 / 129
The tax increment will be captured for the tax years the payments for which become
delinquent in years 2023 through 2048 inclusive. The TIF contract will be
structured so it can be amended each year for up to ten 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 and commercial uses as previously described.
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 - 8/10/2022 Page 45 / 129
The Community Development Law requires that a Redevelopment Plan and Project
consider and comply with a number of requirements. This Plan Amendment meets the
statutory qualifications as set forth below.
1. The Redevelopment Project Area has been declared blighted and substandard by
action of the Grand Island City Council on September 28, 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 August 3, 2022 and passed
Resolution 2022-12 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 34 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 - 8/10/2022 Page 46 / 129
City of Grand Island Future Land Use Map
Grand Island Regular Meeting - 8/10/2022 Page 47 / 129
d. Changes to zoning, street layouts and grades or building codes or ordinances or
other Planning changes.
The area is zoned R4 High Density Residential along 13th street and R2 Low Density
Residential on the northern portion of the site. The future land use map calls for medium
density to office use development across this entire site. New public streets and utilities
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]
Current Zoning on the Site
e. Site Coverage and Intensity of Use
The R2 zoning district allows for one dwelling unit per 6000 square feet of lot space with
a 6000 square foot minimum lot size. The RO zoning district does not limit the density of
housing units but does require minimum 6000 square foot lot. The development as
proposed will have a residential density of 2.4 units per acre. Appendix A of this plan
includes the developer’s vision for the development. [§18-2103(b) and §18-2111]
f. Additional Public Facilities or Utilities
Grand Island Regular Meeting - 8/10/2022 Page 48 / 129
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.
The purchase price of the property is $810,000as an eligible expense. The estimated
costs of utilities including sewer and water is $1,446,189. Streets and drainage are
estimated at $2,520,655. Planning activities including engineering, architecture, legal
fees and government fees are estimated at $872,706. The total of the eligible expenses
for this project is estimated by the developer at $5,650,000.
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 $5,650,000 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 2048.
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:
Grand Island Regular Meeting - 8/10/2022 Page 49 / 129
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.
8. Time Frame for Development
Development of this project is anticipated to begin in the 2022 year. The build out of the
subdivision is planned in five phases between 2023 and 2032. It is anticipated that the
units in this development will be fully built out by 2032 with the tax increment on those
homes extending to 2048. 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. There should be 902 non-age restricted units
with 518 owner occupied and with 384 rental units. There should be 459 age restricted
unit 459 with 222 as 55+ owner occupied and with 237 as 55+ rental units. Between
January 1 of 2020 and December of 2021 the city issued permits for 430 new housing
units including both restricted and unrestricted units leaving a need for 931 additional
units by 2024. 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, and maintenance of residential units.
This project will create new housing options for all citizens and potential citizens of
Grand Island and will likely result in the sale of existing homes around the city.
Grand Island Regular Meeting - 8/10/2022 Page 50 / 129
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 $5,650,000 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
$32,424,550 in private sector financing and investment; a private investment of $5.74 for
every TIF dollar invested.
Use of Funds Source of funds
Description TIF Funds Private Funds Total
Site Acquisition $810,000 $810,000
Building Costs $32,400,000 $32,400,000
Sewer and Water $1,446,189 $1,446,189
Public Streets/ sidewalks $2,520,655 $2,520,655
Planning (Arch. & Eng.) $872,706 $872,706
Legal/ TIF contract $450 $24,550 $25,000
Total $5,650,00 $32,424,550 $38,074,550
Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2023
valuation of approximately $149,793. Based on the 2021 levy this would result in a real
property tax of approximately $3,247. It is anticipated that the assessed value will
increase by $32,400,000 upon full completion, as a result of the site redevelopment. This
development will result in an estimated tax increase of over $699,000 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 2023 assessed value: $ 149,793
Estimated value after completion $ 32,400,000
Increment value $ 32,250,261
Annual TIF generated (estimated) $ 699,308
TIF bond issue $ 5,650,000
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area currently has an estimated valuation of $89,739. The
proposed redevelopment will create additional valuation of $32,400,000 over the course
of the next ten years. The project creates additional valuation that will support taxing
entities long after the project is paid off along with providing 120 additional housing
units and provide for the development and construction of Claude Road on the east side
Grand Island Regular Meeting - 8/10/2022 Page 51 / 129
of this property. The tax shift from this project will be equal to the total of the bond
principal of $5,650,000 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 will result in a larger number of students for Grand Island Public Schools.
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.
(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 2014 study1 that each unit of single
family housing resulted in 2.97 full time equivalent jobs so this development at 13 units
per year would represent an additional 39 FTE’s within the city for the next nine 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.
(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 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. 120 additional households would
house 313 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
1 https://www.nahb.org/news-and-economics/housing-economics/housings-economic-impact/impact-of-
home-building-and-remodeling-on-the-us-economy
Grand Island Regular Meeting - 8/10/2022 Page 52 / 129
would be expected that there would be an additional 60 school age children generated by
this development. If this develops at a rate of 13 units per year for 9 years approximately
7 children could be added to the school age population every year with this development.
These 7 children will likely be spread over the full school age population from
elementary to secondary school. According to the National Center for Educational
Statistics2 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 January 31, 2022 that the
CRA would be considering this application at their July 13, 2022 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. Between January of 2020 and
December of 2021 the City of Grand Island has issue permits for 430 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 between Fall of 2022 and the
end of 2032. The base tax year should be calculated on the value of the property as of
January 1, 2023 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 a base amount of $5,650,000 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
$5,650,000 on TIF eligible activities.
2 https://nces.ed.gov/ccd/districtsearch/district_detail.asp?ID2=3100016
Grand Island Regular Meeting - 8/10/2022 Page 53 / 129
Proposed Phasing of the Development
Grand Island Regular Meeting - 8/10/2022 Page 54 / 129
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 ________
6/7/2022
MISC TRACTS 12-11-10 PT E1/2 SW1/4 and MISCELLANEOUS TRACTS 12-11-10 PT E 1/2 SW 1/4 34.41 AC (3812 W. 13th)
Starostka Group Unlimited, Inc.
429 Industrial Lane
(308) 385-0636
jordanstar@stargroupunl.com
Jordan Starostka
Applicant is a developer and contractor that provides comprehensive contracting for
residential, commercial, and civil/industrial projects.
Grand Island Regular Meeting - 8/10/2022 Page 55 / 129
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 $ ______________
See attached preliminary site plan
See attached explanation of estimated costs
Starostka Group, Unlimited (PID 400149971)
Blender, LLC (PID 400149966)
4
Redeveloper intends to construct an approximately 120 unit residential subdivision in
multiple phases. The project site is currently vacant and in the need of significant
infrastructure improvements to be developable and usable for any purposes.
See attached preliminary proposed site plan. The project will consist of three phases of
residential development, with subphases as appropriate, and a phase for the
construction of Claude Road. The phases are referred to on the site plan as (i) Phase
1, (ii) Phase 2, (iii) Phase 3, and (iv) Claude Road.
Grand Island Regular Meeting - 8/10/2022 Page 56 / 129
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 $ ______________
32,400,000
$270,000 per unit x 120 residential units
Grand Island Regular Meeting - 8/10/2022 Page 57 / 129
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
Please see attached explanation
There will be approximately 120 residential units. Based on applicant's plan to develop and
construct workforce housing, we are assuming an average valuation of approximately $270,000
per unit. There will likely be some difference between units, but the average value of $270,000
and a presumed tax levy of 2.161133 would yield a annual real estate tax of $5,835 per lot.
While the construction of the units will be phased, when completed the taxes on the entire project
would be approximately $646,200 ($5,385x120)
2022
anticipated 2028 ( would like flexibility until
Grand Island Regular Meeting - 8/10/2022 Page 58 / 129
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: ______________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________
Redeveloper is requesting $5,650,000 in TIF over all of the phases of the project.
Redeveloper is requesting the TIF bond be issued at 8% interest.
TIF would assist with the cost of the infrastructure improvements necessary to
develop the project site. This would include approximately: $810,000 in site
acquisition, $4,000,000 in infrastructure improvements, $873,000 in architectural,
engineering, and legal fees, and 8% interest on the TIF bond. The 8% interest is
necessary to justify the long term commitment and risk over the multi-year, multiple
phase redevelopment project.
See attached addendum for additional information.
Applicant desires to develop a residential subdivision with approximately 120
workforce housing units. The goal for the workforce housing units is to keep the
average final value at approximately $270,000 per unit. Construction costs are so
high right that this will be a challenge. Without the requested TIF assistance, which
equates to approximately $83,000 per lot, this would be impossible. A large scale
subdivision like the proposed project is simply not possible with the required cost of
infrastructure without the assistance of TIF. It would be particularly impossible to
build any workforce housing without TIF, because the applicant could never recover
its costs, let alone make any profit necessary for the risk involved with this project.
Grand Island Regular Meeting - 8/10/2022 Page 59 / 129
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 - 8/10/2022 Page 60 / 129
71
79
72
80
65
73
66
74
67
75
68
76
69
77
70
78
58
50
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49
64
56
63
55
62
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61
53
60
52
59
51
39
47
40
48
33
41
34
42
35
43
36
44
37
45
38
46
26
18
25
17
32
24
31
23
30
22
29
21
28
20
27
19
114
107
99
OUTLOT A
106
98
120
113
105
97
119
112
104
96
118
111
103
95
117
110
102
94
116
109
101
93
115
108
100
92
81 82 83 84 89 90 9185868788
11
3
10
2
9
1
16
8
15
7
14
6
13
5
12
4
95.1'119.8'95.1'119.6'70.0'120.0'70.0'70.0'120.1'70.0'70.0'120.3'70.0'70.0'120.5'70.0'70.0'120.6'70.0'70.0'120.8'70.0'70.0'121.0'70.0'70.0'121.1'70.0'70.0'121.3'70.0'70.0'121.4'70.0'70.0'121.6'70.0'70.0'121.8'70.0'70.0'121.9'70.0'70.0'122.1'70.0'84.0'122.3'84.0'84.9'118.0'85.2'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'96.6'96.6'118.0'
118.0'96.6'118.0'
118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'85.4'84.8'118.0'85.1'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'70.0'70.0'118.0'97.3'97.3'118.0'
118.0'30.3'1 0 5 .24'51.0'
118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'70.0'118.0'85.3'70.0'130.7'70.0'131.6'70.0'129.8'70.0'
70.0'128.9'70.0'127.7'87.4'
87.7'
80.0'126.9'79.7'125.9'70.0'
70.0'125.0'70.0'
70.0'124.1'70.0'
70.0'123.2'70.0'
70.0'122.3'80.0'
80.0'121.2'120.1'86.0'
86.3'
90.0'56.8'90.0'56.6'50.0'50.0'90.0'50.0'50.0'90.0'50.0'50.0'90.0'50.0'50.0'90.0'50.0'50.0'90.0'50.0'50.0'90.0'50.0'50.0'90.0'50.0'50.0'90.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'50.0'5.3'44.68'50.0'50.21'39.2'60.80'20.89'125.35'164.48'90.7'191.8'
41.9'132.8'53.2 6 '74.7'122.0'23.0'70.0'
70.0'122.1'70.0'
70.0'122.3'70.0'
70.0'122.5'75.0'
75.0'122.7'75.0'
75.0'122.8'80.0'
80.0'123.0'90.0'
90.0'
90.0'
90.0'
90.0'
90.0'
90.0'
90.0'
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91.3'
95.8'
107.2'
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 68801MILLENNIAL ESTATES SUBDIVISIONPRELIMINARY PLATGRAND ISLAND, NEBRASKA20223LOT LAYOUTSMG
BJD
BJD
022-00432
5.5.2022
1 of
PHASE 1
39 LOTS
PHASE 2
39 LOTS
PHASE 3
42 LOTS
CLAUDE RD13TH ST
120 TOTAL LOTS
Grand IslandRegular Meeting - 8/10/2022Page 61 / 129
Explanation of Estimated Costs
LAND ACQUISITION:
• PID 400149971 was recently acquired for approximately $410,000
• PID 400149966 is under contract and will be acquired for approximately
$400,000
TIF USES:
Total proposed TIF uses for the Project are approximately $5,650,000:
Subdivision Phase 1 $1,613,788
Subdivision Phase 2 $1,521,263
Subdivision Phase 3 $1,321,582
Claude Road $1,192,916
Total $5,649,549
Redeveloper requests a TIF Bond with an interest rate of 8%. The 8% interest
rate is necessary for the financing and investment, based on the risk of the
large infrastructure investment for the multi-phase project.
The TIF uses consist of site acquisition costs, site preparation, utility and
infrastructure improvements, and engineering, architectural, and legal fees.
The proposed TIF uses by phase are set forth in the chart below:
MILLENIAL ESTATES REDEVELOPMENT PROJECT
Phase Phase 2 Phase 3 Phase 4 Claude Rd total
Lots 39 39 42 0 120
Anticipated Construction Year 2022 2025 2027 2027 n/a
TIF Uses (see below) $1,613,788 $1,521,263 $1,321,582 $1,192,916 $5,649,549
TIF USES
PAVING / Grading $526,873 $568,590 $561,792 $738,400 $2,395,655
Utilities (Water & Wastewater) $402,339 $320,478 $461,472 $114,400 $1,298,689
Dewatering $57,500 $30,000 $60,000 $0 $147,500
Lighting / Striping $0 $0 $0 $125,000 $125,000
TOTAL INFRASTRUCTURE $986,712 $919,068 $1,083,264 $977,800 $3,966,844
Site Acquisition $410,000 $400,000 $0 $0 $810,000
Survey, Engineering, Legal $217,077 $202,195 $238,318 $215,116 $872,706
Total $1,613,788 $1,521,263 $1,321,582 $1,192,916 $5,649,549
Grand Island Regular Meeting - 8/10/2022 Page 62 / 129
All costs set forth herein are preliminary estimates and will be certified upon
completion. Given the current state of labor and materials pricing in the
construction industry, it is likely that the prices will continue to increase and
will not go down any time soon.
OVERALL PROJECT COSTS:
In addition to the initial $5,650,000 for public improvements, Applicant will
construct 120 residential dwelling units. Because of the unstable cost of labor
and materials in the construction industry and the long term construction
schedule, it is impossible to determine the construction costs for the private
improvements. However, applicant’s goal is to construct workforce housing –
targeting an average house valuation of approximately $270,000. Accordingly,
the final valuation is anticipated to be approximately $32,400,000 when
construction of the entire project is completed, so total construction costs of
more than $30,000,000 is a reasonable estimate at this point.
Grand Island Regular Meeting - 8/10/2022 Page 63 / 129
Construction Schedule
The Project will be built in four (4) phases: three phases of residential units and
the Claude Road phase. Each residential phase shall be completed in up to three
(3) subphases. The residential phases are referred to herein as Phase 1, Phase
2, and Phase 3.
Redeveloper desires to complete the project by the end of 2027. However,
Redeveloper desires to built in a little flexibility to account for the unknown
market conditions that will affect the project.
First, applicant’s desired schedule is set forth below:
Completion
date
Effective
Date
Phase 1 Subphase 1 12/31/2023 1/1/2024
Subphase 2 12/31/2024 1/1/2025
Phase 2 Subphase 1 12/31/2025 1/1/2026
Subphase 2 12/31/2026 1/1/2027
Phase 3 Subphase 1 12/31/2027 1/1/2028
Subphase 2 12/31/2028 1/1/2029
Claude Road 12/31/2027 n/a
Because the construction schedule will depend on market conditions and
absorption rate of new home purchases, Redeveloper desires to build a little
flexibility into the schedule required by the Redevelopment Agreement.
Therefore, while Redeveloper intends to try to complete the project by the desires
schedule set forth above, the proposed schedule for the Redevelopment
Agreement is set forth below:
Completion
date
Effective
Date
Phase 1 Subphase 1 12/31/2023 1/1/2024
Subphase 2 12/31/2024 1/1/2025
Subphase 3 12/31/2025 1/1/2026
Phase 2 Subphase 1 12/31/2026 1/1/2027
Subphase 2 12/31/2027 1/1/2028
Subphase 3 12/31/2028 1/1/2029
Phase 3 Subphase 1 12/31/2029 1/1/2030
Subphase 2 12/31/2030 1/1/2031
Subphase 3 12/31/2031 1/1/2032
Claude Road 12/31/2029 n/a
Grand Island Regular Meeting - 8/10/2022 Page 64 / 129
Here is a more detailed explanation of the more conservative schedule set forth
above:
Phase 1
It is anticipated that the infrastructure for Phase 1 will commence in 2022.
It will take up to three (3) subphases to complete the 39 residential units
consisting of Phase 1. While construction may occur quicker depending on the
market, current assumptions are that 1/3 of the units (13 units) will be built
each year, such that the Phase 1 schedule will be:
• Infrastructure construction: 2022
• 13 homes built: 2023
• 13 homes built: 2024
• 13 homes built: 2025
Phase 2
It is anticipated that the infrastructure for Phase 2 will commence in 2025.
It will take up to three (3) subphases to complete the 39 residential units
consisting of Phase 2. While construction may occur quicker depending on the
market, current assumptions are that 1/3 of the units (13 units) will be built
each year, such that the Phase 2 schedule will be:
• Infrastructure construction: 2025
• 13 homes built: 2026
• 13 homes built: 2027
• 13 homes built: 2028
Phase 3
It is anticipated that the infrastructure for Phase 3 will commence in 2027 or
2028. It will take up to three (3) subphases to complete the 42 residential units
consisting of Phase 3. While construction may occur quicker depending on the
market, current assumptions are that 1/3 of the units (14 units) will be built
each year, such that the Phase 3 schedule will be:
• Infrastructure construction: 2028
• 14 homes built: 2029
• 14 homes built: 2030
• 14 homes built: 2031
Claude Road
Claude Road will be constructed by the time the first homes are built for Phase
3. It is intended that this will occur by December 31, 2027, but in no case will
this be later than December 31, 2029.
4864-3080-6824, v. 1
Grand Island Regular Meeting - 8/10/2022 Page 65 / 129
Grand Island Regular Meeting - 8/10/2022 Page 66 / 129
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item I2
Redevelopment Plan Amendment CRA Area 33 - Legacy 34 2023
property proposed for platting as Legacy 34 Second Subdivision
located north of Husker Highway and west of Prairie Road Innate
Development
Staff Contact:
Grand Island Regular Meeting - 8/10/2022 Page 67 / 129
Redevelopment Plan Amendment
Grand Island CRA Area 33
Amended August 2022 for Legacy 34 2023
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 is a site specific plan for 14.08 acres and the second phase of this development to be
referred to as Legacy 34 2023. The Legacy 34 2023 project is located directly east of the
Legacy 34 2022 project and will include civic, commercial multifamily residential single
family residential and recreational uses. Amenities for the neighborhood and community
including hike bike trail extensions, civic center building and green space will also be a
part of the Legacy 34 2023 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 7000 square foot civic building, 150 units of
apartments in 10 unit buildings, 4 carriage houses and about 11,000 square foot of
commercial space planned for a sports bar, ice cream shop and coffee shop. The use of
Tax Increment Financing is an integral part of the development plan and necessary to
make this project feasible as presented this was anticipated with the approval of the
general development plan for this property in 2022. The proposed development does not
maximize the number of units that can be built on the property but maximizes 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 2023 phase of this development will take up to 6 years to
complete and that the next phase will likely begin before the last of this one has been
developed.
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Innate Development 2, LLC has purchased the full 200 acres that will encompass this
development. The property was annexed in 2011.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, 2024 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: Property to be platted as Legacy 34 Second Subdivision in 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.
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Existing Land Use and Subject Property
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The tax increment on Legacy 34 2023 will be captured for the tax years the
payments for which become delinquent in years 2024 through 2046 inclusive. The
TIF contract will be structured so it can be amended each year for up to six 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. The general plan approved in 2021 anticipated that the whole 200
acre project will be developed in several phases with a redevelopment plan amendment
specific to each phase of the development. This is the second of the proposed phases and
should be referred to as Legacy 34 2023. The Legacy 34 2023 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,
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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 and has maintained and
amended it since that time. Changes to future land use map in the Grand Island
Comprehensive Plan for this project were approved in 2021 with Legacy 34 2022. This
phase of the project including the multifamily, single family residential, commercial and
civic space is consistent with the planned development for this area shown on the future
landuse map as mixed use commercial. The Hall County Regional Planning Commission
held a public hearing at their meeting on September 7, 2022 and passed Resolution 2022-
13 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 33 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.
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c. Future Land Use Plan
See the attached map from the 2004 Grand Island Comprehensive Plan. The future land
use map for the 2004 plan was amended in 2021 to show the southern portion of this 200
acres as planned for mixed use commercial. Legacy 34 2023 is within the portion
planned for mixed use development. This property is in private ownership. [§18-2103(b)
and §18-2111] The general plan approved in 2022 anticipated development of 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 across the entire 200 acres. The development of this 14 acres is consistent
with that original plan. [§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
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]
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City of Grand Island Future Land Use Map
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Proposed layout for Legacy 34 2023 Phase of the Proposed Development in blue located
to the east of Legacy 34 2022 in red.
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.
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The developer has purchased this property and proposing to use $220,000 of that
purchase price as an eligible expense attributed to the Legacy 34 2023 project. For the
Legacy 34 2023 phase the estimated costs of utilities including sanitary sewer, water,
storm sewer, electric and gas is $1,666,875. Site work and grading is expected to cost
$2,612,000. Total cost for paving of public and private streets, public parking, sidewalks
and trails is $3,940,214. It is anticipated that planning activities including design,
engineering and architecture for the site will be at least $1,300,000 and need to be
included in Legacy 34 2022 project costs. Other eligible activities including government
fees and expenses and legal and contract expenses are expected to be $100,000. The total
of the eligible expenses for this project is estimated by the developer at $9,839,089.
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 $9,839,089 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, 2024 through December 2046.
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
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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 2023
phase will likely be built over a six year period between 2022 and 2028 based on market
demand. Excess valuation should be available for the Legacy 34 2023 project for 15
years beginning with the 2024 tax year. Additional phases of development are
anticipated for the remainder of the project. 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 similar to this one.
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 June of 2022
permits for 547 new housing units had been issued leaving a need for more than 800
additional units in the next 2 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 $9,839,089 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
$20,332,911 in private sector financing; a private investment of $2.06 for every TIF and
grant dollar investment.
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Use of Funds.
Description TIF Funds Private Funds Total
Site Acquisition 220,000$ $ 220,000
Building Costs $ 20,332,911 $ 20,332,911
Sewer $ 388,000 $ 388,000
Water $ 528,875 $ 528,875
Electric $ 725,000 $ 725,000
Gas $ 25,000 $ 25,000
Public
Streets/Sidewalks/Plaza $ 1,629,814 $ 1,629,814
Private Streets/Public Parking $ 2,010,400 $ 2,010,400
Trails $ 300,000 $ 300,000
Grading/Dirtwork/Fill $ 2,612,000 $ 2,612,000
Demolition $ -
Other $ -
Architectural & Engineering
Fees
$ 1,300,000 $ 1,300,000
Financing Fees $ 25,000 $ 25,000
Legal $ 50,000 $ 50,000
Developer Fees $ -
Audit Fees $ 25,000 $ 25,000
Contingency Reserve $ -
Other $ -
Total $ 9,839,089 $ 20,332,911 $ 30,172,000
Source of Funds
Tax Revenue. The 14.08 acres of this site to be redeveloped as Legacy 34 2022 is
anticipated to have a January 1, 2022, valuation of approximately $41,325 based on the
per acre valuation of the current parcel. Based on the 2021 levy this would result in a
real property tax of approximately $853. It is anticipated that the assessed value will
increase by $30,172,000 upon full completion, as a result of the site redevelopment. This
development will result in an estimated tax increase of over $655,939 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 2023 assessed value (14.08 acres): $ 41,235
Estimated value after completion $ 30,213,235
Increment value $ 30,172,000
Annual TIF generated (estimated) $ 655,939
TIF bond issue $ 9,839,089
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(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area currently has an estimated valuation of $41,235. The
proposed redevelopment will create additional valuation of $30,172,000 over the course
of the next six years. The project creates additional valuation that will support taxing
entities long after the project is paid off along with providing 154 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 $9,839,089 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 2023 (1 and 2 bedroom apartments) 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 25 apartments and 1 carriage house would produce
about 31 FTE’s per year for the next 6 years plus additional FTE’s for the commercial
space that is proposed.
(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.
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(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 402 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 77 school age children generated by
this development. Given the nature of the units (150- 1 and 2 bedroom apartments)
proposed for Legacy 34 2023 these numbers are likely to be significantly less than for
detached single family development. If this develops at a rate of 25 unit per year for 6
years approximately 13 children could be added to the school age population every year
with this development. These 13 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 4, 2022 that the CRA would be considering
this application at their August 10, 2022 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 June of 2022 there are 547 units of housing that have been
permitted. More than 750 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 2023 project is anticipated to be completed during
between the Spring of 2023 and the end of 2028. The base tax year should be calculated
on the value of the property as of January 1, 2023 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 2024 with
taxes due in 2025. 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 $9,839,089 the projected amount of
increment based upon the anticipated value of the project and current tax rate.
1 https://nces.ed.gov/ccd/districtsearch/district_detail.asp?ID2=3100016
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This is the second phase of this development just over 42 acres of the full 200 acres will
be subject to redevelopment contracts upon final approval of this plan and the associated
contracts. 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 in a
format similar to this amendment.
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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 ________
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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 $ ______________
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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 $ ______________
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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
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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: ______________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________
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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
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Legacy 34 2023 Area 33
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 399
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA, SUBMITTING A PROPOSED
REDEVELOPMENT CONTRACT TO THE HALL COUNTY REGIONAL PLANNING
COMMISSION FOR ITS RECOMMENDATION
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), pursuant to the Nebraska Community
Development Law (the "Act"), prepared a proposed redevelopment plan (the
"Plan") a copy of which is attached hereto as Exhibit 1, for redevelopment of an
area within the city limits of the City of Grand Island, Hall County, Nebraska; and
WHEREAS, the Authority is required by Section 18-2112 of the Act to submit
said to the planning board having jurisdiction of the area proposed for redevelopment
for review and recommendation as to its conformity with the general plan for the
development of the City of Grand Island, Hall County, Nebraska;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The Authority submits to the Hall County Regional Planning Commission the
proposed Plan attached to this Resolution, for review and recommendation as to its
conformity with the general plan for the development of the City of Grand Island, Hall
County, Nebraska.
Passed and approved this 10th day of August, 2022
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By___________________________
Chairperson
ATTEST:
__________________________
Secretary
Grand Island Regular Meeting - 8/10/2022 Page 96 / 129
Legacy 34 2023 Area 33
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND,
NEBRASKA
RESOLUTION NO. 400
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA, PROVIDING NOTICE OF INTENT TO ENTER INTO A
REDEVELOPMENT CONTRACT AFTER THE PASSAGE OF 30 DAYS AND OTHER
MATTERS
WHEREAS, this Community Redevelopment Authority of the City of Grand Island, Nebraska ("Authority"), has received an Application for Tax Increment Financing under
the Nebraska Community Development Law (the “Act”) on a project within
Redevelopment Area 33, from Innate Development LLC, (The "Developer") for
redevelopment of property proposed for platting as Legacy 34 Second Subdivision
located in the E ½ of the SE ¼ of 25-11-10 east of the Prairieview Street and north of Husker Highway, an area within the city limits of the City of Grand Island, as set forth in
Exhibit 1 attached hereto; and
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), is proposing to use Tax Increment Financing on a project within Redevelopment Area 33;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
Section 1. In compliance with section 18-2114 of the Act, the Authority hereby gives
the governing body of the City notice that it intends to enter into the Redevelopment Contract,
after approval of the redevelopment plan amendment related to the redevelopment project,
and after the passage of 30 days from the date hereof.
Section 2. The Secretary of the Authority is directed to file a copy of this resolution
with the City Clerk of the City of Grand Island, forthwith.
Passed and approved this 10th day of August, 2022.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA.
By ___________________________
Chairperson
ATTEST:
___________________
Secretary
Grand Island Regular Meeting - 8/10/2022 Page 97 / 129
Legacy 34 2023 Area 33
Exhibit 1
Draft Redevelopment Plan Forwarded to the Planning Commission
Grand Island Regular Meeting - 8/10/2022 Page 98 / 129
COMMUNITY REDEVELOPMENT AUTHORITY
August 5, 2022
Dr. Ken Schroeder
Chief Financial Officer
Grand Island Public Schools
123 S. Webb Road
P.O. Box 4904
Grand Island, NE 68802-4904
Dear Dr. Schroeder,
This letter is to inform you that the Community Redevelopment Authority (CRA) of the City of Grand Island
has received an application requesting Tax Increment Financing (TIF) for a upper level apartments and
renovated commercial space at 124 W. 3rd Street.
The application seeks $123,400 in TIF assistance for the development of the 3 units of upper story housing.
It is estimated that this development will take place over the next year.
At present, the proposed timeline for approval would be as follows:
CRA receives initial application, 4 p.m., August 10.
Regional Planning Commission holds public hearing 6 p.m., September 7.
CRA reviews Planning Commission recommendation, 4 p.m. September 22.
Grand Island City Council holds public hearing and takes action, 7 p.m., October 11.
CRA considers redevelopment contract, 4 p.m. on or after October 12.
Additional notification will be provided to the school board via certified mail prior to the public
hearings before both planning commission and council. Should you have any questions or comments,
please call me at (308) 385-5240.
Sincerely,
Chad Nabity, AICP
Director
Grand Island Regular Meeting - 8/10/2022 Page 99 / 129
Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item I3
Redevelopment Plan Amendment CRA Area 1 - 124 W. 3rd -
Street Living Waters LLC -
Staff Contact:
Grand Island Regular Meeting - 8/10/2022 Page 100 / 129
Redevelopment Plan Amendment
Grand Island CRA Area 1
August 2022
The Community Redevelopment Authority (CRA) of the City of Grand Island
intends to amend the Redevelopment Plan for Area 1 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 1.
Executive Summary:
Project Description
THE REDEVELOPMENT OF THE BUILDING LOCATED AT 124 W 3RD STREET
FOR RESIDENTIAL AND COMMERCIAL USES, INCLUDING FIRE/LIFE SAFETY
IMPROVEMENTS AND BUILDING REHABILITATION AND REMODELING.
The use of Tax Increment Financing to aid in rehabilitation expenses associated with
redevelopment of the entire building located at 124 W. 3rd Street. The developer is
proposing to a mixed used project with commercial retail space on the first floor and
upper story residential at this location. This project would not be feasible without the
use of TIF.
LIVING WATERS, LLC purchased the property for $390,000. The purchase price is
included as an eligible TIF activity. The developer is responsible for and has provided
evidence that they can secure adequate debt financing to cover the costs associated with
the remodeling and rehabilitation of this building.
The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad
valorem taxes generated over the 15 year period beginning January 1, 2024 towards the
allowable costs and associated financing for rehabilitation.
TAX INCREMENT FINANCING TO PAY FOR THE REHABILITATION OF THE
PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY:
Property Description (the “Redevelopment Project Area”)
The property is located at 124 W. 3rd Street in Grand Island Nebraska, the attached
map identifies the subject property and the surrounding land uses.
Legal Descriptions: The South 44.5 feet of Lot Five (5) in Block Fifty-Five (55) in the
Original Town, now City of Grand Island, Hall County, Nebraska.
Grand Island Regular Meeting - 8/10/2022 Page 101 / 129
Existing Land Use and Subject Property
Grand Island Regular Meeting - 8/10/2022 Page 102 / 129
The tax increment will be captured for the tax years the payments for which become
delinquent in years 2024 through 2038 inclusive.
The real property ad valorem taxes on the current valuation will continue to be paid
to the normal taxing entities. The increase will come from rehabilitation of this
portion of the building for commercial and residential uses as permitted in the B3
Heavy Business Zoning District.
Statutory Pledge of Taxes.
In accordance with Section 18-2147 of the Act and the terms of the Resolution
providing for the issuance of the TIF Note, the Authority hereby provides that any ad
valorem tax on the Redevelopment Project Area for the benefit of any public body be
divided for a period of fifteen years after the effective date of this provision as set forth in
the Redevelopment Contract, consistent with this Redevelopment Plan. 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:
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.
Grand Island Regular Meeting - 8/10/2022 Page 103 / 129
1. The Redevelopment Project Area has been declared blighted and substandard by
action of the Grand Island City Council on December 19, 2000.[§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 September 7, 2022 and passed
Resolution 2022-14 confirming that this project is consistent with the Comprehensive
Plan for the City of Grand Island.
3. The Redevelopment Plan must be sufficiently complete to address the following
items: [§18-2103(13) (b)]
a. Land Acquisition:
The Redevelopment Plan for Area 1 provides for real property acquisition and this plan
amendment does not prohibit such acquisition. The developer has acquired the property
and will be including acquisition as an eligible activity. 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. Demotion of internal structures to accommodate
the redevelopment is anticipated and permitted.
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 Downtown Commercial development;
this includes housing and commercial uses within the same structure. 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 - 8/10/2022 Page 104 / 129
City of Grand Island Future Land Use Map
Grand Island Regular Meeting - 8/10/2022 Page 105 / 129
d. Changes to zoning, street layouts and grades or building codes or ordinances or
other Planning changes.
The area is zoned B3-Heavy Business zone. No zoning changes are anticipated with this
project. No changes are anticipated in street layouts or grades. No changes are
anticipated in building codes or ordinances. Nor are any other planning changes
contemplated. [§18-2103(b) and §18-2111]
e. Site Coverage and Intensity of Use
The developer is rehabilitating the existing building. The developer is not proposing to
increase the size of the building and current building meets the applicable regulations
regarding site coverage and intensity of use. [§18-2103(b) and §18-2111]
f. Additional Public Facilities or Utilities
Sewer and water are available to support this development.
Electric utilities are sufficient for the proposed use of this building.
No other utilities would be impacted by the development.
The developer will be responsible for replacing any sidewalks damaged during
construction of the project.
No other utilities would be impacted by the development. [§18-2103(b) and §18-2111]
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 not been used for any residential purposes. [§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 purchased the property for $390,000. The estimated costs of rehabilitation
of this property is $401,573. Other construction and soft costs are $39,792. Legal,
Developer and Audit Fees of $13,500 for reimbursement to the City and the CRA for
costs to prepare the contract and monitor the project over the course of the development
are included in the eligible expenses. The total of eligible expenses for this project
exceeds $844,465.
No property will be transferred to redevelopers by the Authority. The developer will
provide and secure all necessary financing.
Grand Island Regular Meeting - 8/10/2022 Page 106 / 129
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 $123,400 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, 2024 through December 2038.
c. Statement of feasible method of relocating displaced families.
No families will be displaced as a result of this plan.
7. Section 18-2113 of the Act requires:
Prior to recommending a redevelopment plan to the governing body for approval, an
authority shall consider whether the proposed land uses and building requirements in the
redevelopment project area are designed with the general purpose of accomplishing, in
conformance with the general plan, a coordinated, adjusted, and harmonious development
of the city and its environs which will, in accordance with present and future needs,
promote health, safety, morals, order, convenience, prosperity, and the general welfare, as
well as efficiency and economy in the process of development, including, among other
things, adequate provision for traffic, vehicular parking, the promotion of safety from
fire, panic, and other dangers, adequate provision for light and air, the promotion of the
healthful and convenient distribution of population, the provision of adequate
transportation, water, sewerage, and other public utilities, schools, parks, recreational and
community facilities, and other public requirements, the promotion of sound design and
arrangement, the wise and efficient expenditure of public funds, and the prevention of the
recurrence of insanitary or unsafe dwelling accommodations or conditions of blight.
The Authority has considered these elements in proposing this Plan Amendment. This
amendment, in and of itself will promote consistency with the Comprehensive Plan. This
will have the intended result of preventing recurring elements of unsafe buildings and
blighting conditions. This will accomplish the goal of both the Railside Business
Improvement District and the Grand Island City Council of refurbishing street level
commercial space and increasing the number of residential units available in the
Downtown area that has been underutilized for several years.
8. Time Frame for Development
Development of this project is anticipated to be completed by October 2023. Excess
valuation should be available for this project for 15 years beginning with the 2024 tax
year.
9. Justification of Project
This building in downtown Grand Island was built in 1915 and will be preserved with this
project. The mixed use of commercial space and residential units is consistent with the
long term development plans for Downtown.
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
Grand Island Regular Meeting - 8/10/2022 Page 107 / 129
Financing will be used. This analysis must address specific statutory issues.
As authorized in the Nebraska Community Development Law, §18-2147, Neb. Rev. Stat.
(2012), the City of Grand Island has analyzed the costs and benefits of the proposed
Redevelopment Project, including:
Project Sources and Uses. Approximately $123,400 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
$721,465 in private sector financing; a private investment of $5.84 for every TIF dollar
invested.
Use of Funds Source of Funds
Description TIF
Funds
Private Funds Total
Site Acquisition $123,400 $266,600 $390,000
Renovation Costs $401,573 $401,573
Contingency $20,079 $20,079
Architectural &
Engineering $7,900 $7,900
Financing fees/ audit $11,813 $11,813
Legal/ TIF contract $13,500 $13,500
Total $123,400 $721,465 $844,365
Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2024,
valuation of approximately $219,769. Based on the 2021 levy this would result in a real
property tax of approximately $4,765. It is anticipated that the assessed value will increase
by $331,326 upon full completion, as a result of the site redevelopment. This development
will result in an estimated tax increase of over $184,7 annually. The tax increment
gained from this Redevelopment Project Area would not be available for use as city
general tax revenues, for a period of 15 years, or such shorter time as may be required
to amortize the TIF bond, but would be used for eligible private redevelopment costs to
enable this project to be realized.
Estimated 2021 assessed value: $219,769
Estimated value after completion $551,095
Increment value $331,326
Annual TIF generated (estimated)$$7,184
TIF bond issue $123,400
(a) Tax shifts resulting from the approval of the use of Tax Increment Financing;
The redevelopment project area currently has an estimated valuation of $219,769. The
proposed redevelopment will create additional valuation of $331,326. No tax shifts
are anticipated from the project outside of the use of TIF to support the
redevelopment. It is not anticipate that any additional tax burdens will be assumed by
public entities as a result of this project. The project creates additional valuation that
will support taxing entities long after the project is paid off.
Grand Island Regular Meeting - 8/10/2022 Page 108 / 129
(b) Public infrastructure and community public service needs impacts and local tax
impacts arising from the approval of the redevelopment project;
No additional public service needs have been identified. Existing water and waste
water facilities will not be impacted by this development. The electric utility has
sufficient capacity to support the development. It is not anticipated that this will impact
schools in any significant way. Fire and police protection are available and should not be
negatively impacted by this development. The addition of life safety elements to this
building including fire sprinklers and a second exit actually reduce the chances of
negative impacts to the fire department.
(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 residential and commercial space options in the
downtown area consistent with the planned development in Downtown Grand Island.
(d) Impacts on other employers and employees within the city or village and the
immediate area that are located outside of the boundaries of the area of the
redevelopment project; and
This project will not have a negative impact on other employers in any manner
different from any other expanding business within the Grand Island area. This will
provide refurbish Downtown residential and commercial space options for residents
and business owners who wish to relocate to the Downtown area.
(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 as it will likely not result in any increased attendance. The majority of
the units to be developed with this project is a two bedroom unit and unlikely to
be a family unit, especially for families with school age children.
The average number of persons per household in Grand Island for 2015 to
2019 according the American Community Survey is 2.61. According to the 2010
census 19.2% of the population of Grand Island was between the ages of 5 and 18.
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 a maximum of one school age child generated by this development
though that is mitigated by the fact that there are 2 small 2 bedroom units and a
single 1 bedroom unit..
(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 Council, the Downtown BID, the CRA, and
Grow Grand Island to create additional upgraded residential and commercial spaces
within downtown Grand Island.
Grand Island Regular Meeting - 8/10/2022 Page 109 / 129
Time Frame for Development
Development of this project is anticipated to be completed October 2023. The base tax
year should be calculated on the value of the property as of January 1, 2024. Excess
valuation should be available for this project for 15 years beginning in 2024 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 or an amount not to exceed $123,400 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 $721,465.on TIF
eligible activities in excess of other grants given.
Grand Island Regular Meeting - 8/10/2022 Page 110 / 129
Form Updated 7-25-2019cn Page | 1
BACKGROUND INFORMATION RELATIVE TO
TAX INCREMENT FINANCING REQUEST
Project Redeveloper Information
Business Name:
Living Waters LLC
Address:
320 Sunflower Circle, Grand Island NE 68803
Telephone No.: 308-390-5925 Fax No.:
Email:m3joslyn@gmail.com
Contact:
Michaela Goosic
Application Submission Date: 7/1/22
Brief Description of Applicant’s Business:
Legal Description/Address of Proposed Project ORIGINAL TOWN S 44.5' LT 5 BLK 55
Community Redevelopment Area Number
Grand Island Regular Meeting - 8/10/2022 Page 111 / 129
Form Updated 7-25-2019cn Page | 2
Present Ownership Proposed Project Site:
Living Waters LLC
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.
Commercial/residnetial mixed use building, see attached
If Property is to be Subdivided, Show Division Planned:
VI. Estimated Project Costs:
Acquisition Costs:
A. Land
$
B. Building $ 390,000
Construction Costs:
A. Renovation or Building Costs:
$ 401,573
B. On-Site Improvements:
Sewer
$
Water $
Electric $
Gas $
Public Streets/Sidewalks $
Private Streets $
Trails $
Grading/Dirtwork/Fill $
Demolition $
Grand Island Regular Meeting - 8/10/2022 Page 112 / 129
Form Updated 7-25-2019cn Page | 3
Other $
Total
Soft Costs:
$ 401,573
A. Architectural & Engineering Fees: $ 7,900
B. Financing Fees: $ 11,813
C. Legal $ 13,500
D. Developer Fees: $
E. Audit Fees $
F. Contingency Reserves: $ 20,079
G. Other (Please Specify) $
TOTAL $ 53,291
Total Estimated Market Value at Completion: $
Source for Estimated Market Value
Source of Financing:
A. Developer Equity:
B. Commercial Bank Loan:
C. Tax Credits:
$ 157,090
$ 687,774
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 - 8/10/2022 Page 113 / 129
Form Updated 7-25-2019cn Page | 4
G. Nebraska Housing Trust Fund $
H. Other $ 844,864
Name, Address, Phone & Fax Numbers of Architect, Engineer and General Contractor:
Living Waters LLC, 320 Sunflower Circle, Grand Island NE 68803
Mike Spilinek, Olsson Associates 201 E. Second Street Grand Island, NE 68801
Architect: Toby Gay, Gay and Associates, 1470 31st ave. Columbus Ne 68601
Estimated Real Estate Taxes on Project Site Upon Completion of Project:
(Please Show Calculations)
Project Construction Schedule:
Construction Start Date:
Oct 22
Construction Completion Date:
Oct 23
If Phased Project:
Year % Complete
Year % Complete
Year % Complete
Year % Complete
Year % Complete
Year % Complete
Grand Island Regular Meeting - 8/10/2022 Page 114 / 129
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:
Living Waters LLC is asking for $123,400 worth of tax increment financing.
The TIF funds will be used to make the project a success.
Statement Identifying Financial Gap and Necessity for use of Tax Increment Financing
for Proposed Project:
As the attached proforma’s show, given the risk of today’s markets, without TIF the project does
not have a high enough return (see the DSCR on the attached proforma) for the risk that is being
taken.
Grand Island Regular Meeting - 8/10/2022 Page 115 / 129
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 - 8/10/2022 Page 116 / 129
PROFORMA 124 W 3rd With TIF EXPENSES
USE OF FUNDS TOTAL Property Taxes $3,862
PURCHASE OF BUILDING $390,000 BID Taxes $432
CONSTRUCTION $401,573 Parking Taxes $330
CONTINGENCY 5%$20,079 Insurance $1,700
TENANT ALLOWANCE $0 Utilities $0
ARCHITECT/ENGINEER $7,900 Management $2,927
SOFT COSTS $25,313 Maintnance $2,927
TOTAL $844,864
Total $12,179
SOURCE OF FUNDS
BANK 2220 $687,774 Debt Service
Façade Grant 1431 $0
X 1421 $0 Loan amount 687,774$
X 1327 $0 Annual interest rate 5.750%
X $0 Loan period in years 15
OWNER EQUITY (20% of appraised value)$157,090
TOTAL $844,864 Monthly payment 5,711$
Soft costs
OPERATING PROFORMA
ANNUAL RENTAL INCOME Annual Monthly TIF fee $7,000
0 Consultant $3,500
s.f.$/s.f.Interest $11,813
Commercial 2946 15 $44,190 $3,683 Misc $3,000
Basement 2946 3 $8,838 $737
Residential 2970 15 $44,550 $3,713 $25,313
1431 Construction
4968 S.F.$/S.F.
GROSS INCOME $97,578 2970 $135 $401,573
s Actual CAP 11.99%
VACANCY $2,927 3.0%Cap Rate 10.5%
DSCR 1.20 EXPENSES $12,179 12.5%NOI $82,472
$15,106 Appraisal $785,449
LTV 20%$157,090
NET OPERATING INCOME $82,472 Equity $97,675
DEBT SERVICE $68,536 Cash $59,415
CASH FLOW $13,936 DSCR 1.20
Grand Island Regular Meeting - 8/10/2022 Page 117 / 129
PROFORMA 124 W 3rd Without TIF EXPENSES
USE OF FUNDS TOTAL Property Taxes $12,089
PURCHASE OF BUILDING $390,000 BID Taxes $432
CONSTRUCTION $401,573 Parking Taxes $330
CONTINGENCY 7%$20,079 Insurance $1,700
TENANT ALLOWANCE $0 Utilities $0
ARCHITECT/ENGINEER $7,900 Management $2,927
SOFT COSTS $25,313 Maintnance $2,927
TOTAL $844,864
Total $20,405
SOURCE OF FUNDS
BANK 2220 $703,444 Debt Service
Façade Grant 1431 $0
X 1421 $0 Loan amount $703,444
X 1327 $0 Annual interest rate 5.750%
X $0 Loan period in years 15
OWNER EQUITY (20% of appraised value)$141,420
TOTAL $844,864 Monthly payment 5,841$
Soft costs
OPERATING PROFORMA
ANNUAL RENTAL INCOME Annual Monthly TIF fee $7,000
0 Consultant $3,500
s.f.$/s.f.Interest $11,813
Commercial 2946 15 $44,190 $3,683 Misc $3,000
Basement 2946 3 $8,838 $737
Residential 2970 15 $44,550 $3,713 $25,313
1431 Construction
4968 S.F.$/S.F.
GROSS INCOME $97,578 2970 $135 $401,573
s Actual CAP 10.55%
VACANCY $2,927 3.0%Cap Rate 10.5%
DSCR 1.06 EXPENSES $20,405 20.9%NOI $74,245
$23,333 Appraisal $707,100
LTV 20%$141,420
NET OPERATING INCOME $74,245 Equity $3,656
DEBT SERVICE $70,098 Cash $137,764
CASH FLOW $4,148 DSCR 1.06
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Estimated Project Costs:
Acquisition Costs:
A. Land $0
B. Building $390,000
Construction Costs:
A. Renovation or Building Costs:$401,573
B. On-Site Improvements:
Sewer $0
Water $0
Electric $0
Gas $0
Public Streets/Sidewalks $0
Private Streets $0
Trails $0
Grading/Dirtwork/Fill $0
Demolition $0
Other: Parks/Public Space $0
Total $401,573
Soft Costs:
A. Architectural & Engineering Fees:$7,900
B. Financing Fees: Construction $11,813
C. Legal $13,500
D. Developer Fees:$0
E. Audit Fees $0
F. Contingency Reserves:$20,079
G. Other: TIF fees/Misc fees $0
TOTAL $53,291
Total Estimated Market Value at Completion:$785,449
Source of Financing:
A. Developer Equity:157,090$
B. Commercial Bank Loan:687,774$
E. Tax Increment Assistance:-$
H. Other: Façade grant -$
Total 844,864$
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Starostka Millennial Area 34
COMMUNITY REDEVELOPMENT AUTHORITY
OF THE CITY OF GRAND ISLAND, NEBRASKA
RESOLUTION NO. 396
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY
OF GRAND ISLAND, NEBRASKA, SUBMITTING A PROPOSED
REDEVELOPMENT CONTRACT TO THE HALL COUNTY REGIONAL PLANNING
COMMISSION FOR ITS RECOMMENDATION
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), pursuant to the Nebraska Community
Development Law (the "Act"), prepared a proposed redevelopment plan (the
"Plan") a copy of which is attached hereto as Exhibit 1, for redevelopment of an
area within the city limits of the City of Grand Island, Hall County, Nebraska; and
WHEREAS, the Authority is required by Section 18-2112 of the Act to submit
said to the planning board having jurisdiction of the area proposed for redevelopment
for review and recommendation as to its conformity with the general plan for the
development of the City of Grand Island, Hall County, Nebraska;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
The Authority submits to the Hall County Regional Planning Commission the
proposed Plan attached to this Resolution, for review and recommendation as to its
conformity with the general plan for the development of the City of Grand Island, Hall
County, Nebraska.
Passed and approved this 13th day of July, 2022
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF
GRAND ISLAND, NEBRASKA.
By___________________________
Chairperson
ATTEST:
__________________________
Secretary
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Starostka Millennial Area 34
COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND,
NEBRASKA
RESOLUTION NO. 397
RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA, PROVIDING NOTICE OF INTENT TO ENTER INTO A
REDEVELOPMENT CONTRACT AFTER THE PASSAGE OF 30 DAYS AND OTHER
MATTERS
WHEREAS, this Community Redevelopment Authority of the City of Grand Island, Nebraska ("Authority"), has received an Application for Tax Increment Financing under
the Nebraska Community Development Law (the “Act”) on a project within
Redevelopment Area 34, from Starostka Group Unilimited, (The "Developer") for
redevelopment located in the E ½ for the SW ¼ of 12-11-10 east of the Moore’s Creek
Drainway and north of 13th Street, an area within the city limits of the City of Grand Island, as set forth in Exhibit 1 attached hereto; and
WHEREAS, this Community Redevelopment Authority of the City of Grand
Island, Nebraska ("Authority"), is proposing to use Tax Increment Financing on a project
within Redevelopment Area 34;
NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS:
Section 1. In compliance with section 18-2114 of the Act, the Authority hereby gives
the governing body of the City notice that it intends to enter into the Redevelopment Contract,
after approval of the redevelopment plan amendment related to the redevelopment project,
and after the passage of 30 days from the date hereof.
Section 2. The Secretary of the Authority is directed to file a copy of this resolution
with the City Clerk of the City of Grand Island, forthwith.
Passed and approved this 13th day of July, 2022.
COMMUNITY REDEVELOPMENT
AUTHORITY OF THE CITY OF GRAND
ISLAND, NEBRASKA.
By ___________________________
Chairperson
ATTEST:
___________________
Secretary
Exhibit 1
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Starostka Millennial Area 34
Draft Redevelopment Plan Forwarded to the Planning Commission
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Community Redevelopment
Authority (CRA)
Wednesday, August 10, 2022
Regular Meeting
Item K1
2022-2023 Budget
Staff Contact:
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2022 2021-2022 2023
BUDGET YE Projected BUDGET
CONSOLIDATED
Beginning Cash 548,785 755,002 946,468
REVENUE:
Property Taxes - CRA 548,328 571,153 548,263
Property Taxes - Lincoln Pool 196,818 196,818 197,340
Property Taxes -TIF's 5,400,000 5,400,000 7,100,000
Loan Income (Poplar Street Water Line) 20,000 20,000 20,000
Interest Income - CRA 10,000 2,000 10,000
Land Sales - -
Other Revenue - CRA 200,000 200,000 200,000
Other Revenue - TIF's
TOTAL REVENUE 6,375,146 6,389,971 8,075,603
TOTAL RESOURCES 6,923,931 7,144,973 9,022,070
EXPENSES
Auditing & Accounting 3,000 3,000 3000
Legal Services 3,000 200 3000
Consulting Services 5,000 - 5000
Contract Services 75,000 75,000 80000
Printing & Binding 1,000 - 1000
Other Professional Services 16,000 16,000 16000
General Liability Insurance 250 - 250
Postage 200 250
Legal Notices 500 300 500
Travel & Training 4,000 800 4000
Other Expenditures - -
Office Supplies 1,000 300 1000
Supplies 300 100 300
Land 30,000 50000
Bond Principal - Lincoln Pool 185,000 185,000 190000
Bond Interest- Lincoln Pool 10,805 10,805 7340
Husker Harvest Days Payment (Year 4 of 10 Nov 2021) 200,000 200,000 200000
Façade Improvement 200,000 162,000 320000
Building Improvement (Committed Projects) 500,000 135,000 723,000
Other Projects 200,000 10,000 300000
TIF Payments 5,400,000 5,400,000 7100000
TOTAL EXPENSES 6,835,055 6,198,505 9,004,640
INCREASE(DECREASE) IN CASH (459,909) 191,466 (929,038)
ENDING CASH 88,876 946,468 17,430
Program Operating
Building Improvement includes all committed projects (Life/Safety, Façade and Other Projects) that have not been paid out
COMMUNITY REDEVELOPMENT AUTHORITY
2023 BUDGET
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