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03-15-2023 Community Redevelopment Authority Regular Meeting Packet Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 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 - 3/15/2023 Page 1 / 132 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 - 3/15/2023 Page 2 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item A1 Agenda March 15 CRA Meeting Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 3 / 132 Grand Island Regular Meeting - 3/15/2023 Page 4 / 132 Grand Island Regular Meeting - 3/15/2023 Page 5 / 132 COMMUNITY REDEVELOPMENT AUTHORITY AGENDA MEMORANDUM 4 p.m. Wednesday, March 15, 2023 2. APPROVAL OF MINUTES. The minutes of the Community Redevelopment Authority meeting February 8, 2023 are submitted for approval. A MOTION is in order. 3. APPROVAL OF FINANCIAL REPORTS. Financial reports for February 1-28 are included in the packet for review and approval. 4. APPROVAL OF BILLS. Payment of bills in the amount of $2,628,074.90. 5. REVIEW OF COMMITTED PROJECTS AND CRA PROPERTIES. 6. AMENDED REDEVELOPMENT PLAN CRA AREA 34- STAROSTKA GROUP UNLIMITED MILLENNIAL ESTATES SUBDIVISION- Concerning a redevelopment plan for CRA Area No. 34 for development of 120 housing units in the proposed Millennial Estates Subdivision north of 13th Street 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. The plan requests $5,650,000 in tax increment financing along with associated interest on the TIF bonds. The original plan was approved by the Grand Island City Council on August 23, 2022 with the expectation that as part of this development The Starostka Group would construct Claude Road along their eastern boundary. They are requesting that the City of Grand Island construct that road on ground that they will dedicate and that 25% of the TIF generated by the project $1,412,500 will be paid to the city for that project. As this is a major revision to the approved plan it has to go through the approval process again. The CRA may forward the plan to the Grand Island City Council for consideration. A MOTION to approve Resolution 426 is in order. 7. REDEVELOPMENT PLAN CRA AREA 31- JBA VENTURES, LLC HENRY AND ADA Concerning a redevelopment plan for CRA Area No. 31 for redevelopment of the property located south of South Street fronting onto Henry and Ada Streets near the Grand Island Cemetery. JBA Ventures plans to build 18 units of apartments in 4 and 5 unit buildings on the site (10 one bedroom and 8 two bedroom). They intend to market these to individuals that are 59 years old and above. These buildings would be very similar to the buildings south of this property along both Henry and Ada Streets. The plan requests $950,932 in tax increment financing. The CRA may forward the Grand Island Regular Meeting - 3/15/2023 Page 6 / 132 plan to the Grand Island City Council for consideration. A MOTION to approve Resolution 427 is in order. 8. REDEVELOPMENT PLAN AMENDMENT CRA AREA 34- BLOCK A OF CRANE VALLEY SUBDIVISION EXCLUDING LOTS 1, 2 AND OUTLOT A OF CRANE VALLEY 9TH SUBDIVISION LOCATED SOUTH OF 13TH STREET AND WEST OF DIERS AVENUE IN GRAND ISLAND – CONCORD INVESTMENTS, LLC Concerning a redevelopment plan for CRA Area No. 34 for redevelopment of the property located south of 13th Street east of the Moore’s Creek Drainway behind the old Kmart building. Concord Investments plans to build up to 84 units of apartments in multiple buildings on the site along with a clubhouse and garages and 2 commercial lots. The developer will be constructing Claude Road on the west side of the property from its current terminus at the south end of this property to 13th Street and extending Concord Avenue to intersect with Claude. The plan requests $2,967,963 in tax increment financing. The CRA may forward the plan to the Regional Planning Commission for review and give 30-day notice to the Grand Island City Council of a potential development contract. A MOTION to approve Resolution 428 (forward to Regional Planning Commission) and Resolution 429 (30-day intent notice to city council) is in order. 9. CONSIDERATION OF CONTRACTING FOR LEGAL SERVICES RELATED TO CONDEMNATION PROCEEDINGS INVOLVING LEASES AT THE CONESTOGA MALL/CONESTOGA MARKET PLACE The redevelopment plan and contract redevelopment of the Conestoga Mall anticipated that the CRA might have to enter into condemnation proceedings with tenants at the mall to aid in the renegotiation or termination of some tenant leases. Woodsonia has reached an impasse with three of the tenants and is asking the CRA to initiate condemnation proceedings. The first step in this would be to hire an attorney to represent the CRA. Mike Bacon does not specialize in this practice but would continue to advise the CRA on this item and how it will impact the redevelopment contract, TIF and EEA. Woodsonia is obligated to pay for the attorney and expert fees and costs associated with the condemnation proceedings and appeals therefrom, as well as any Awards or Judgments in those proceeds. Woodsonia is requesting that the CRA consider a contract with Greg Sacglione of Koley Jessen out of Omaha to represent both the CRA and Woodsonia in this matter as the interests of the CRA and Woodsonia are 100% united on the redevelopment plan. A MOTION to approve Resolution 430 is in order. 10. DIRECTOR’S REPORT. 11. ADJOURNMENT Grand Island Regular Meeting - 3/15/2023 Page 7 / 132 Chad Nabity Director Grand Island Regular Meeting - 3/15/2023 Page 8 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item B1 Minutes - February 8, 2023 Meeting Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 9 / 132 OFFICIAL PROCEEDINGS MINUTES OF COMMUNITY REDEVELOPMENT AUTHORITY MEETING OF February 8, 2023 Pursuant to due call and notice thereof, a Meeting of the Community Redevelopment Authority of the City of Grand Island, Nebraska was conducted on February 8, 2023 at City Hall, 100 E. First Street. Notice of the meeting was given in the February 1, 2023 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, Sue Pirnie, Brian Mustion and Chris Schwieger. Also present were: Planning Director Chad Nabity, Planning Administrative Assistant Norma Hernandez, Finance Director Patrick Brown and Assistant Finance Director Brian Schultz. 2.APPROVAL OF MINUTES. A motion for approval of the Minutes for the January 25, 2023 meeting was made by Truell and second by Mustion. Upon roll call vote, all present voted aye. Motion carried. 5-0 3. Review of Financials Financial reports were reviewed by Brian Schultz. A motion was made by Mustion and second by Truell to approve January 2023 Financials. Upon roll call vote, all present voted aye. Motion carried. 5-0 4.Approval of Bills A motion was made by Pirnie and second by Schwieger to approve the bills for $5,523.84. Upon roll call vote, all present voted aye. Motion carried 5-0. 5.Review of Committed Projects and CRA Properties The committed projects and CRA projects were reviewed by Nabity. Chamber Exterior Remodel – will start in the spring. Hope Harbor – did get architectural plans and were able to show they can get under the 65 decibels and qualify for CDBG. Life Safety Grants Hedde – Still waiting on counter tops Azur - should be done soon Rawr Holdings – February 2023 is agreement date. Mr. Spiehs has a plan laid out- will have a building permit by February 2023 to move forward or he will sell the building. CRA Property 3235 S. Locust (Desert Rose) – Still available Grand Island Regular Meeting - 3/15/2023 Page 10 / 132 6.Redevelopment Redevelopment Plan Amendment CRA Area 34 – Millennial Estates Subdivision property located in the E ½ of the SW ½ of 12-11-10 – Starostka Group Unlimited a. Consideration of Resolution 423 – Forward a Redevlopment Plan Amendment to the Hall County Regional Planning Commission Millennial Estates Subdivision property located in the E ½ of the SW ½ of 12-11-10 – Starostka Group Unlimited Nabity explained the original plan was approved by Grand Island City Council on August 23, 2022 with the expectation with the development The Starostka Group Unlimited would construct Claude Road along their eastern boundary. The city is moving ahead with the 18th Street project. The 18th Street project will connect Diers Avenue and Aspen Circle through an 18th Street alignment tying into State Street to Claude Rd. The Starostka Group Unlimited is requesting that the City of Grand Island construct that road on ground that they will dedicate and that 25% of the TIF generated by the project $1,412,500 will be paid to the city for the project. With this being a major revision to the approved plan it has to go through the approval process again. A motion was made by Mustion and second by Truell to approve Resolution 423. Upon roll call vote, all present voted aye. Motion carried 5-0. 7. Redevelopment Redevelopment Plan Amendment CRA Area 31 – 1703 Ada Street and 1703 Henry Street (Lot 1 and part of Lot 2 of Block 1 along with Lots 1 and 2 of Block 2 of Dawn Subdivision) in Grand Island – JBA Ventures, LLC a.Consideration of Resolution 424 – Forward a Redevelopment Plan Amendment to the Hall County Regional Planning Commission for property located at 1703 Ada Street and 1703 Henry Street (Lot 1 and part of Lot 2 of Block 1 along with Lots 1 and 2 of Block 2 of Dawn Subdivision) in Grand Island – JBA Ventures, LLC b. Consideration of Resolution 425 – Resolution of Intent to enter into a Site Specific Redevelopment Contract and Approval of related actions 30-day notice to city council 1703 Ada Street and 1703 Henry Street (Lot 1 and Lot 2 of Block 2 of Dawn Subdivision) in Grand Island – JBA Ventures, LLC Nabity stated JBA Ventures plans to build 18 units of apartments in 4 and 5 unit buildings on site (10 one bedroom and 8 two bedroom). The developer is requesting $950,932 in Tax Increment Financing to help pay for extension of sewer and water, demolition and acquisition of the property. Grand Island Regular Meeting - 3/15/2023 Page 11 / 132 A motion was made by Truell and second by Mustion to approve Resolution 424 and Resolution 425. Upon roll call vote, all present voted aye. Motion carried 5-0. 8.Director’s Report – CRA Meeting Dates – March 15, 2023 April 19, 2023 9.Adjournment 4:26 p.m. Respectfully Submitted, Norma Hernandez Grand Island Regular Meeting - 3/15/2023 Page 12 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item C1 Financials - CRA February 2023 Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 13 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED CONSOLIDATED Beginning Cash 752,309 946,468 REVENUE: Property Taxes - CRA 44,008 109,440 548,263 438,823 19.96% Property Taxes - Lincoln Pool 9,789 23,929 197,340 173,411 12.13% Property Taxes -TIF's 182,620 1,536,544 7,100,000 5,563,456 21.64% Loan Income (Poplar Street Water Line) - - 20,000 20,000 0.00% Interest Income - CRA 1,314 3,786 10,000 6,214 37.86% Interest Income - TIF'S - - - - Land Sales - - - - #DIV/0! Other Revenue - CRA - 230,594 200,000 - 115.30% Other Revenue - TIF's - - - - TOTAL REVENUE 237,730 1,904,293 8,075,603 6,201,904 23.58% TOTAL RESOURCES 990,040 1,904,293 9,022,071 6,201,904 EXPENSES Auditing & Accounting - - 3,000 3,000 0.00% Legal Services - - 3,000 3,000 0.00% Consulting Services - - 5,000 5,000 0.00% Contract Services 5,524 25,563 80,000 54,437 31.95% Printing & Binding - - 1,000 1,000 0.00% Other Professional Services - 10,689 16,000 5,311 66.81% General Liability Insurance - - 250 250 0.00% Postage - - 250 250 0.00% Legal Notices - 65 500 435 13.00% Travel & Training - - 4,000 4,000 0.00% Other Expenditures - - - - Office Supplies - 35 1,000 965 3.50% Supplies - - 300 300 0.00% Land - 10,000 50,000 40,000 Bond Principal - Lincoln Pool - 195,000 190,000 (5,000) 102.63% Bond Interest - 2,340 7,340 5,000 31.88% Fiscal Agent Fees/Bond Costs - 525 - (525) Husker Harvest Days - 200,000 200,000 - 100.00% Façade Improvement - - 370,000 370,000 0.00% Building Improvement - 156,593 722,000 565,407 21.69% Other Projects - - 250,000 250,000 0.00% Bond Principal-TIF's - 1,352,748 7,100,000 5,747,252 19.05% Bond Interest-TIF's - - - - Interest Expense - - - - TOTAL EXPENSES 5,524 1,953,558 9,003,640 7,050,082 21.70% INCREASE(DECREASE) IN CASH 232,207 (49,265) (928,037) ENDING CASH 984,516 (49,265) 18,431 - CRA CASH 773,657 TIF CASH 210,859 Total Cash 984,516 COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 Grand Island Regular Meeting - 3/15/2023 Page 14 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 GENERAL OPERATIONS: Property Taxes - CRA 44,008 109,440 548,263 438,823 19.96% Property Taxes - Lincoln Pool 9,789 23,929 197,340 173,411 12.13% Interest Income 1,314 3,786 10,000 6,214 37.86% Loan Income (Poplar Street Water Line) - 20,000 20,000 0.00% Land Sales - - - #DIV/0! Other Revenue & Motor Vehicle Tax 230,594 200,000 - 115.30% TOTAL 55,110 367,749 975,603 638,448 37.69% GIRARD VET CLINIC 90000013 Property Taxes - - TOTAL - - - - GEDDES ST APTS-PROCON 90000014 Property Taxes 31,247 (31,247) TOTAL - 31,247 - (31,247) SOUTHEAST CROSSING 90000015 Property Taxes - - TOTAL - - - - POPLAR STREET WATER 90000016 Property Taxes 633 1,181 (1,181) TOTAL 633 1,181 - (1,181) CASEY'S @ FIVE POINTS 90000017 Property Taxes 398 398 (398) TOTAL 398 398 - (398) OUTH POINTE HOTEL PROJECT 90000018 Property Taxes 2,224 2,224 (2,224) TOTAL 2,224 2,224 - (2,224) TOKEN PROPERTIES RUBY 90000024 Property Taxes 92 92 (92) TOTAL 92 92 - (92) GORDMAN GRAND ISLAND 90000025 Property Taxes 2,164 2,164 (2,164) TOTAL 2,164 2,164 - (2,164) BAKER DEVELOPMENT INC 90000026 Property Taxes 110 2,042 (2,042) TOTAL 110 2,042 - (2,042) STRATFORD PLAZA INC 90000027 Property Taxes 860 860 (860) TOTAL 860 860 - (860) COPPER CREEK 2013 HOUSES 90000028 Property Taxes 7,074 11,143 (11,143) TOTAL 7,074 11,143 - (11,143) Grand Island Regular Meeting - 3/15/2023 Page 15 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 FUTURE TIF'S Property Taxes - 7,100,000 7,100,000 TOTAL - - 7,100,000 7,100,000 CHIEF IND AURORA COOP 90000029 Property Taxes 981 981 (981) TOTAL 981 981 - (981) TOKEN PROP KIMBALL ST 90000030 Property Taxes 97 97 (97) TOTAL 97 97 - (97) GI HABITAT OF HUMANITY 90000031 Property Taxes 171 171 (171) TOTAL 171 171 - (171) AUTO ONE INC 90000032 Property Taxes 383 383 (383) TOTAL 383 383 - (383) EIG GRAND ISLAND 90000033 Property Taxes 2,369 2,369 (2,369) TOTAL 2,369 2,369 - (2,369) TOKEN PROPERTIES CARY ST 90000034 Property Taxes 225 225 (225) TOTAL 225 225 - (225) WENN HOUSING PROJECT 90000035 Property Taxes 147 147 (147) TOTAL 147 147 - (147) COPPER CREEK 2014 HOUSES 90000036 Property Taxes 15,930 29,882 (29,882) TOTAL 15,930 29,882 - (29,882) TC ENCK BUILDERS 90000037 Property Taxes 105 105 (105) TOTAL 105 105 - (105) SUPER MARKET DEVELOPERS 90000038 Property Taxes 2,825 2,825 (2,825) TOTAL 2,825 2,825 - (2,825) MAINSTAY SUITES 90000039 Property Taxes 1,723 1,723 (1,723) TOTAL 1,723 1,723 - (1,723) TOWER 217 90000040 Property Taxes 650 650 (650) TOTAL 650 650 - (650) COPPER CREEK 2015 HOUSES 90000041 Property Taxes 16,339 21,856 - (21,856) TOTAL 16,339 21,856 - (21,856) Grand Island Regular Meeting - 3/15/2023 Page 16 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 NORTHWEST COMMONS 90000042 Property Taxes 17,235 203,259 - (203,259) TOTAL 17,235 203,259 - (203,259) HABITAT - 8TH & SUPERIOR 90000043 Property Taxes 303 303 (303) TOTAL 303 303 - (303) KAUFMAN BUILDING 90000044 Property Taxes 313 313 (313) TOTAL 313 313 - (313) TALON APARTMENTS 90000045 Property Taxes 2,515 93,572 (93,572) TOTAL 2,515 93,572 - (93,572) VICTORY PLACE 90000046 Property Taxes 101 101 (101) TOTAL 101 101 - (101) THINK SMART 90000047 Property Taxes 165 6,399 (6,399) TOTAL 165 6,399 - (6,399) BOSSELMAN HQ 90000048 Property Taxes 2,023 2,023 (2,023) TOTAL 2,023 2,023 - (2,023) TALON APARTMENTS 2017 90000049 Property Taxes 2,827 105,190 (105,190) TOTAL 2,827 105,190 - (105,190) WEINRICH DEVELOPMENT 90000050 Property Taxes 166 166 (166) TOTAL 166 166 - (166) WING WILLIAMSONS 90000051 Property Taxes 103 103 (103) TOTAL 103 103 - (103) HATCHERY HOLDINGS 90000052 Property Taxes 4,153 4,153 (4,153) TOTAL 4,153 4,153 - (4,153) FEDERATION LABOR TEMPLE 90000053 Property Taxes 179 179 (179) TOTAL 179 179 - (179) MIDDLETON PROPERTIES II 90000054 Property Taxes 380 380 (380) TOTAL 380 380 - (380) COPPER CREEK 2016 HOUSES 90000055 Property Taxes 4,938 4,938 (4,938) TOTAL 4,938 4,938 - (4,938) Grand Island Regular Meeting - 3/15/2023 Page 17 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 MENDEZ ENT LLC PHASE 1 90000056 Property Taxes 85 416 (416) TOTAL 85 416 - (416) EAST PARK ON STUHR 90000057 Property Taxes 2,830 56,986 (56,986) TOTAL 2,830 56,986 - (56,986) TAKE FLIGHT INVESTMENTS 90000058 Property Taxes 142 142 (142) TOTAL 142 142 - (142) PRATARIA VENTURES HOSPITAL 90000059 Property Taxes 38,154 768,197 (768,197) TOTAL 38,154 768,197 - (768,197) AMMUNITION PLANT Property Taxes - - TOTAL - - - - URBAN ISLAND LLC 90000061 Property Taxes 176 176 (176) TOTAL 176 176 - (176) PEACEFUL ROOT 90000062 Property Taxes 130 130 (130) TOTAL 130 130 - (130) TALON 2019 LOOKBACK 90000063 Property Taxes 77 2,851 (2,851) TOTAL 77 2,851 - (2,851) COPPER CREEK PH2 2019 LB 90000064 Property Taxes 5,018 8,747 (8,747) TOTAL 5,018 8,747 - (8,747) GRAND ISLAND HOTEL 90000065 Property Taxes 2,830 2,830 (2,830) TOTAL 2,830 2,830 - (2,830) PARAMOUNT OLD SEARS 90000066 Property Taxes 196 196 (196) TOTAL 196 196 - (196) CENTRAL NE TRUCK WASH 90000067 Property Taxes 1,029 39,818 (39,818) TOTAL 1,029 39,818 - (39,818) PRATARIA VENTURES MED OFF 90000068 Property Taxes 5,427 5,427 (5,427) TOTAL 5,427 5,427 - (5,427) TALON 2020 LB PHASE 4 90000069 Property Taxes 802 29,846 (29,846) Grand Island Regular Meeting - 3/15/2023 Page 18 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 TOTAL 802 29,846 - (29,846) STAROSTKA 5TH ST LB PH 1 90000070 Property Taxes 342 342 (342) TOTAL 342 342 - (342) COPPER CREEK PH 2 2020 LB 90000071 Property Taxes 7,186 7,525 (7,525) TOTAL 7,186 7,525 - (7,525) COPPER CREEK PH 3 2020 LB Property Taxes 1,013 2,428 (2,428) TOTAL 1,013 2,428 - (2,428) HEDDE BUILDING 201 W 3RD 90000073 Property Taxes 258 258 (258) TOTAL 258 258 - (258) RAWR HOLDINGS 110 W 2ND 90000074 Property Taxes 15 582 (582) TOTAL 15 582 - (582) ORCHARD REDEV PROJ 90000075 Property Taxes 698 698 (698) TOTAL 698 698 - (698) AMUR RE OLD WELLS FARGO 90000076 Property Taxes 602 602 (602) TOTAL 602 602 - (602) WALD 12 PROPERTIES LLC 90000077 Property Taxes 32 32 (32) TOTAL 32 32 - (32) WING PROPERTIES 112 E 3RD ST 90000078 Property Taxes 5 5 (5) TOTAL 5 5 - (5) WEINRICH DEV 408 E 2ND ST 90000079 Property Taxes 162 162 (162) TOTAL 162 162 - (162) O'NEILL WOOD RESOURCES Property Taxes - - TOTAL - - - - SE COMMONS - FONNERVIEW 90000081 Property Taxes 7,914 7,914 (7,914) TOTAL 7,914 7,914 - (7,914) PARAMOUNT 824 E 9TH ST 90000082 Property Taxes 350 350 (350) TOTAL 350 350 - (350) J&L WESTWARD ENT CAAP 90000083 Grand Island Regular Meeting - 3/15/2023 Page 19 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 Property Taxes 1,161 2,092 (2,092) TOTAL 1,161 2,092 - (2,092) MILLER TIRE 90000084 Property Taxes 285 285 (285) TOTAL 285 285 - (285) TALON 2021 LB PHASE 5 90000085 Property Taxes 1,340 49,864 (49,864) TOTAL 1,340 49,864 - (49,864) STAROSTKA 5TH ST 21 LB#2 90000086 Property Taxes 1,122 1,462 (1,462) TOTAL 1,122 1,462 - (1,462) PRATARIA PH 2 SUBPH 2 90000087 Property Taxes 262 262 (262) TOTAL 262 262 - (262) ORCHARD DEVELOPMENT 90000088 Property Taxes 1,463 1,463 (1,463) TOTAL 1,463 1,463 - (1,463) PARAMOUNT OLD SEARS 2 MAIN FL 90000089 Property Taxes 376 376 (376) TOTAL 376 376 - (376) BOSSELMAN KINGS CROSSING 90000090 Property Taxes 472 472 (472) TOTAL 472 472 - (472) TABITHA 3490 EWOLDT ST 90000091 Property Taxes 9,764 9,764 (9,764) TOTAL 9,764 9,764 - (9,764) TOTAL REVENUE 237,730 1,904,293 8,075,603 6,201,904 23.58% - - - - Grand Island Regular Meeting - 3/15/2023 Page 20 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 EXPENSES CRA GENERAL OPERATIONS: Auditing & Accounting - 3,000 3,000 0.00% Legal Services - 3,000 3,000 0.00% Consulting Services - 5,000 5,000 0.00% Contract Services 5,524 25,563 80,000 54,437 31.95% Printing & Binding - 1,000 1,000 0.00% Other Professional Services 10,689 16,000 5,311 66.81% General Liability Insurance - 250 250 0.00% Postage - 250 250 0.00% Legal Notices 65 500 435 13.00% Travel & Training - 4,000 4,000 0.00% Other Expenditures - - - #DIV/0! Office Supplies 35 1,000 965 3.50% Supplies - 300 300 0.00% Land 10,000 50,000 40,000 20.00% Bond Principal - Lincoln Pool 195,000 190,000 (5,000) 102.63% Bond Interest - Lincoln Pool 2,340 7,340 5,000 31.88% Fiscal Agent Fees/Bond Costs 525 (525) #DIV/0! PROJECTS Husker Harvest Days 200,000 200,000 - 100.00% Façade Improvement - 370,000 370,000 0.00% Building Improvement 156,593 722,000 565,407 0.00% Other Projects - 250,000 250,000 0.00% TOTAL CRA EXPENSES 5,524 600,810 1,903,640 1,302,830 31.56% GIRARD VET CLINIC 90000013 Bond Principal - - - TOTAL - - - - GEDDES ST APTS - PROCON 90000014 Bond Principal 32,078 - (32,078) TOTAL - 32,078 - (32,078) SOUTHEAST CROSSINGS 90000015 Bond Principal - - - TOTAL - - - - POPLAR STREET WATER 90000016 Bond Principal - - - TOTAL - - - - CASEY'S @ FIVE POINTS 90000017 Bond Principal - - - TOTAL - - - - OUTH POINTE HOTEL PROJECT 90000018 Bond Principal - - - TOTAL - - - - Grand Island Regular Meeting - 3/15/2023 Page 21 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 TOKEN PROPERTIES RUBY 90000019 Bond Principal - - - TOTAL - - - - GORDMAN GRAND ISLAND 90000025 Bond Principal - - - TOTAL - - - - BAKER DEVELOPMENT INC 90000026 Bond Principal 1,932 - (1,932) TOTAL - 1,932 - (1,932) STRATFORD PLAZA LLC 90000027 Bond Principal - - - TOTAL - - - - COPPER CREEK 2013 HOUSES 90000028 Bond Principal 4,068 - (4,068) TOTAL - 4,068 - (4,068) CHIEF IND AURORA COOP 90000029 Bond Principal - - - TOTAL - - - - TOKEN PROP KIMBALL ST 90000030 Bond Principal - - - TOTAL - - - - GI HABITAT FOR HUMANITY 90000031 Bond Principal - - - TOTAL - - - - AUTO ONE INC 90000032 Bond Principal - - - TOTAL - - - - EIG GRAND ISLAND 90000033 Bond Principal - - - TOTAL - - - - TOKEN PROP CARY STREET 90000034 Bond Principal - - - TOTAL - - - - WENN HOUSING PROJECT 90000035 Bond Principal - - - TOTAL - - - - COPPER CREEK 2014 HOUSES 90000036 Bond Principal 13,953 - (13,953) TOTAL - 13,953 - (13,953) TC ENCK BUILDERS 90000037 Bond Principal - - - TOTAL - - - - Grand Island Regular Meeting - 3/15/2023 Page 22 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 SUPER MARKET DEVELOPERS 90000038 Bond Principal - - - TOTAL - - - - MAINSTAY SUITES 90000039 Bond Principal - - - TOTAL - - - - TOWER 217 90000040 Bond Principal - - - TOTAL - - - - COPPER CREEK 2015 HOUSES 90000041 Bond Principal 5,517 - (5,517) TOTAL - 5,517 (5,517) NORTHWEST COMMONS 90000042 Bond Principal 186,023 - (186,023) TOTAL - 186,023 (186,023) HABITAT - 8TH & SUPERIOR Bond Principal - - - TOTAL - - - KAUFMAN BUILDING Bond Principal - - - TOTAL - - - TALON APARTMENTS 90000045 Bond Principal 91,057 - (91,057) TOTAL - 91,057 (91,057) VICTORY PLACE Bond Principal - - - TOTAL - - - FUTURE TIF'S Bond Principal - 7,100,000 7,100,000 TOTAL - - 7,100,000 7,100,000 THINK SMART 90000047 Bond Principal 6,400 - (6,400) TOTAL - 6,400 (6,400) BOSSELMAN HQ Bond Principal - - - TOTAL - - - TALON APARTMENTS 2017 90000049 Bond Principal 105,213 - (105,213) TOTAL - 105,213 (105,213) Grand Island Regular Meeting - 3/15/2023 Page 23 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 WEINRICH DEVELOPMENT Bond Principal - - - TOTAL - - - WING WILLIAMSONS Bond Principal - - - TOTAL - - - HATCHERY HOLDINGS Bond Principal - - - TOTAL - - - FEDERATION LABOR TEMPLE Bond Principal - - - TOTAL - - - MIDDLETON PROPERTIES II Bond Principal - - - TOTAL - - - COPPER CREEK 2016 HOUSES Bond Principal - - - TOTAL - - - EAST PARK ON STUHR 90000057 Bond Principal 54,155 - (54,155) TOTAL - 54,155 (54,155) TAKE FLIGHT INVESTMENTS Bond Principal - - - TOTAL - - - PRATARIA VENTURES HOSPITAL 90000059 Bond Principal 730,043 - (730,043) TOTAL - 730,043 (730,043) AMMUNITION PLANT Bond Principal - - - TOTAL - - - URBAN ISLAND LLC Bond Principal - - - TOTAL - - - PEACEFUL ROOT Bond Principal - - - TOTAL - - - TALON 2019 LOOKBACK Bond Principal - - - TOTAL - - - COPPER CREEK PH2 2019 LB 90000064 Bond Principal 3,729 - (3,729) TOTAL - 3,729 (3,729) Grand Island Regular Meeting - 3/15/2023 Page 24 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 GRAND ISLAND HOTEL Bond Principal - - - TOTAL - - - PARAMOUNT OLD SEARS Bond Principal - - - TOTAL - - - CENTRAL NE TRUCK WASH 90000067 Bond Principal 38,790 - (38,790) TOTAL - 38,790 (38,790) PRATARIA VENTURES MEDICAL OFFICE Bond Principal - - - TOTAL - - - TALON 2020 LB PHASE 4 90000069 Bond Principal 29,851 - (29,851) TOTAL - 29,851 (29,851) STAROSTKA 5TH ST LOOKBACK PHASE 1 Bond Principal - - - TOTAL - - - COPPER CREEK PHASE 2 2020 LOOKBACK Bond Principal - - - TOTAL - - - COPPER CREEK PH 3 2020 LB 90000072 Bond Principal 1,415 - (1,415) TOTAL - 1,415 (1,415) HEDDE BUILDING 201 W 3RD Bond Principal - - - TOTAL - - - RAWR HOLDINGS LLC 110 W 2ND ST Bond Principal - - - TOTAL - - - ORCHARD REDEVELOPMENT PROJECT Bond Principal - - - TOTAL - - - AMUR REAL ESTATE OLD WELLS FARGO Bond Principal - - - TOTAL - - - WALD 12 PROPERTIES LLC OLD GREENB Bond Principal - - - TOTAL - - - WING PROPERTIES 112 2 3RD ST Bond Principal - - - Grand Island Regular Meeting - 3/15/2023 Page 25 / 132 MONTH ENDED 2022-2023 2023 REMAINING % OF BUDGET February-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF FEBRUARY 2023 TOTAL - - - WEINRICH DEVELOPMENT 408 E 2ND ST Bond Principal - - - TOTAL - - - O'NEILL WOOD RESOURCES Bond Principal - - - TOTAL - - - SOUTHEAST COMMONS - FONNERVIEW Bond Principal - - - TOTAL - - - PARAMOUNT 824 E 9TH ST Bond Principal - - - TOTAL - - - J&L WESTWARD ENTERPRISES CAAP Bond Principal - - - TOTAL - - - TALON 2021 LB PHASE 5 90000085 Bond Principal 48,524 - (48,524) TOTAL - 48,524 (48,524) STAROSTKA 5TH ST 21 LOOKBACK #2 Bond Principal - - - TOTAL - - - PRATARIA PH 2 SUBPH 2 90000087 Bond Principal - - TOTAL - - - - ORCHARD DEVELOPMENT 90000088 Bond Principal - - TOTAL - - - - PARAMOUNT OLD SEARS 2 MAIN FL 90000089 Bond Principal - - TOTAL - - - - BOSSELMAN KINGS CROSSING 90000090 Bond Principal - - TOTAL - - - - TABITHA 3490 EWOLDT ST 90000091 Bond Principal - - TOTAL - - - - TOTAL EXPENSES 5,524 1,953,558 9,003,640 7,050,082 21.70% Grand Island Regular Meeting - 3/15/2023 Page 26 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item D1 March 15, 2023 Schedule of Bills Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 27 / 132 Grand Island Regular Meeting - 3/15/2023 Page 28 / 132 Grand Island Regular Meeting - 3/15/2023 Page 29 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item E1 CRA February 2023 Committed Projects Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 30 / 132 COMMITTED PROJECTS REMAINING GRANT AMOUNT 2023 FISCAL YR 2024 FISCAL YR 2025 FISCAL YR ESTIMATED COMP Chamber Exterior Remodel (8/10/2022) $ 290,000.00 $ 290,000.00 Summer 2023 Hope Harbor (7/13/2022) $ 50,000.00 $ 50,000.00 Dec-22 3231 Ramada Rd (10/19/2022) $ 100,000.00 $ 100,000.00 Summer 2023 118 W 2nd St (10/19/2022) $ 100,000.00 $ 100,000.00 Summer 2023 106 N Locust (10/19/2022) $ 100,000.00 $ 100,000.00 Summer 2023 313-315 N Locust (10/19/2022) $ 100,000.00 $ 100,000.00 Summer 2023 Total Committed $ 1,004,513.00 $ 1,004,513.00 $ - $ - FIRE & LIFE SAFETY GRANT TOTAL AMOUNT 2023 FISCAL YR 2024 FISCAL YR 2025 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 2023 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 2023 2023 LEFT Façade Budgeted 2023 $ 370,000.00 $ 370,000.00 $ - Other Projects Budgeted 2023 $ 250,000.00 $ 155,000.00 $ 95,000.00 Land - Budgeted 2023 $ 50,000.00 $ - $ 50,000.00 Land Sales Budgeted 2023 $ - $ - $ - subtotal $ 525,000.00 $ 145,000.00 Balance $ 525,000.00 $ 145,000.00 BUDGET PAID LEFT Building Improvements * $ 722,000.00 $ 156,593.00 $ 565,407.00 *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 February 28, 2023 Grand Island Regular Meeting - 3/15/2023 Page 31 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item I1 Redevelopment Plan Amendment- Millennial Estates Subdivision property located in the E ½ of the SW ¼ of 12-11-10 – Starostka Group Unlimited Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 32 / 132 Redevelopment Plan Amendment Grand Island CRA Area 34 March 2023 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 22.5 ACRES OF PROPERTY LOCATED SOUTH OF 13TH STREET AND EAST OF THE MOORE’S CREEK DRAINWAY IN NORTHWEST GRAND ISLAND FOR A MIXED USE COMMERCIAL AND MULTI-FAMILY RESIDENTIAL DEVELOPMENT 2 COMMERCIAL LOTS AND UP TO 84 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 the property for housing and commercial uses. 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. Concord Investments LLC or its predecessor Concord Development LLC has owned this property for more than 25 years. This property has been farmed in corn or beans during that time. This project will also include building a portion of Claude Road along the west side of the property alongside 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, 2025 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:Block A of Crane Valley Subdivision excluding Lots 1, 2 and Outlot A of Crane Valley 9th Subdivision (PID 400150174) Grand Island Regular Meeting - 3/15/2023 Page 33 / 132 Existing Land Use and Subject Property Grand Island Regular Meeting - 3/15/2023 Page 34 / 132 The tax increment will be captured for the tax years the payments for which become delinquent in years 2024 through 2025 inclusive. The TIF contract will be structured so it can be amended each year for up to six years to add the housing and commercial 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 - 3/15/2023 Page 35 / 132 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 pay for necessary infrastructure include sewer, water, drainage and Claude Road to prepare the property 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 April ??, 2023 and passed Resolution 2023-09 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 highway commercial development which would include residential uses at a density of up to 42 units per acre. This property Grand Island Regular Meeting - 3/15/2023 Page 36 / 132 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)] City of Grand Island Future Land Use Map Grand Island Regular Meeting - 3/15/2023 Page 37 / 132 Current Zoning on the Site e. Site Coverage and Intensity of Use The B2 zoning district allows for one dwelling unit per 1000 square feet of lot space with a 3000 square foot minimum lot size. A wide variety of commercial uses are also permitted in this zoning district. The development as proposed will have a residential density of less than 5 units per acre. [§18-2103(b) and §18-2111] Grand Island Regular Meeting - 3/15/2023 Page 38 / 132 f. Additional Public Facilities or Utilities Sanitary sewer and water are available to support this development. Both sanitary sewer and water will need to be extended throughout the site. TIF revenues will be used to offset the cost of these public utility improvements. Electric utilities are sufficient for the proposed use of this property. Electric lines, transformers, and conduit will need to be extended throughout the property. No other publicly owned utilities would be impacted by the development. §18-2103(b) and §18-2111] 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. This property is vacant and has been vacant for more than 1 year; no relocation is contemplated or necessary. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA have any interest in this property. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The purchase price of the property is $245,866 as an eligible expense. The estimated costs of utilities including sewer and water is $775,171. Streets and drainage are estimated at $1,599,465. Planning activities including engineering, architecture, legal fees and government fees are estimated at $347,461. The total of the eligible expenses for this project is estimated by the developer at $2,967,963. 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 $2,967,963 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, 2025 through December 2046. c. Statement of feasible method of relocating displaced families. No families will be displaced as a result of this plan. Grand Island Regular Meeting - 3/15/2023 Page 39 / 132 7. Section 18-2113 of the Act requires: Prior to recommending a redevelopment plan to the governing body for approval, an authority shall consider whether the proposed land uses and building requirements in the redevelopment project area are designed with the general purpose of accomplishing, in conformance with the general plan, a coordinated, adjusted, and harmonious development of the city and its environs which will, in accordance with present and future needs, promote health, safety, morals, order, convenience, prosperity, and the general welfare, as well as efficiency and economy in the process of development, including, among other things, adequate provision for traffic, vehicular parking, the promotion of safety from fire, panic, and other dangers, adequate provision for light and air, the promotion of the healthful and convenient distribution of population, the provision of adequate transportation, water, sewerage, and other public utilities, schools, parks, recreational and community facilities, and other public requirements, the promotion of sound design and arrangement, the wise and efficient expenditure of public funds, and the prevention of the recurrence of insanitary or unsafe dwelling accommodations or conditions of blight. The Authority has considered these elements in proposing this Plan. This amendment, in and of itself will promote consistency with the Comprehensive Plan. This will have the intended result of preventing recurring elements of unsafe buildings and blighting conditions. This will accomplish the goal of increasing the number of residential units within the City of Grand Island and encouraging infill development. 8. Time Frame for Development Development of this project is anticipated to begin in the 2023 year. The build out of the subdivision is planned in five phases between 2024 and 2030. It is anticipated that the units in this development will be fully built out by 2030 with the tax increment on those homes extending to 2046. Excess valuation should be available for the first homes built with this project for 15 years beginning with the 2024 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 2022 the city issued permits for 680 new housing units including both restricted and unrestricted units leaving a need for 673 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. Grand Island Regular Meeting - 3/15/2023 Page 40 / 132 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. 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 $2,917,963 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 $14,767,874 in private sector financing and investment; a private investment of $5.06 for every TIF dollar invested. Use of Funds Source of funds Description TIF Funds Private Funds Total Site Acquistion $245,866 $245,866 Building Costs $13,000,000 $13,000,000 Public Streets $825,741 $825,741 Private Streets $411,038 $411,038 Trails $108,436 $108,436 Sewer/Water/Electric $775,171 $775,171 Grading/Dirtwork $254,250 $254,250 Planning (Arch. & Eng.) $297,461 $297,461 Financing fees/ audit $1,446,074 $1,446,074 Legal/ TIF contract $50,000 $50,000 Developer Fees $271,800 $271,800 Total $2,967,963 $14,717,874 $17,685,837 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2024 valuation of approximately $979,447. Based on the 2022 levy this would result in a real property tax of approximately $20,727. It is anticipated that the assessed value will increase by $14,620,553 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $330,131 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. Grand Island Regular Meeting - 3/15/2023 Page 41 / 132 Estimated 2024 assessed value: $ 979,447 Estimated value after completion $ 15,600,000 Increment value $ 14,620,553 Annual TIF generated (estimated) $ 330,131 TIF bond issue $ 2,967,963 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $979,447. The proposed redevelopment will create additional valuation of $14,620,553 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 up to 84 additional housing units and provide for the development and construction of Claude Road on the east side of this property. The tax shift from this project will be equal to the total of the bond principal of $2,967,963 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 estimates that each unit of multifamily housing results in an FTE of 1.16 job. An average of 15 apartments would produce about 17.4 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. Grand Island Regular Meeting - 3/15/2023 Page 42 / 132 (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 2017 to 2021 according the American Community Survey is 2.57. According current census numbers 20.2% of the population of Grand Island was between the ages of 5 and 18. If the averages hold it would be expected that 213 people would be housed at this location and there would be a maximum of 43 school age children generated by this development. If this develops at a rate of 15 units per year for 6 years approximately 8 children could be added to the school age population every year with this development. These 8 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. This is likely to be mitigated based on the size and configuration of these units that will make them less attractive to families with children. The Grand Island Public School System was notified on March 4, 2023 that the CRA would be considering this application at their March 15, 2023 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 2022 the City of Grand Island has issue permits for 688 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 summer of 2023 and the end of 2029. The base tax year should be calculated on the value of the property as of January 1, 2024 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 a base amount of $2,967,963 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 $2,967,963 on TIF eligible activities. 1 https://nces.ed.gov/ccd/districtsearch/district_detail.asp?ID2=3100016 Grand Island Regular Meeting - 3/15/2023 Page 43 / 132 Form Updated 7-25-2019cn Page | 1 BACKGROUND INFORMATION RELATIVE TO TAX INCREMENT FINANCING REQUEST Project Redeveloper Information Business Name: ______________________________________________________________ Address: _______________________________________________________________ Telephone No.: __________________________ Fax No.: _______________ Email: _________________________________________________________ Contact: _______________________________________________________________ Application Submission Date: Brief Description of Applicant’s Business:__ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________ Legal Description/Address of Proposed Project Community Redevelopment Area Number ________ Grand Island Regular Meeting - 3/15/2023 Page 44 / 132 Form Updated 7-25-2019cn Page | 2 Present Ownership Proposed Project Site: ________________________________________________________________ _____________________________________ Is purchase of the site contingent on Tax Increment Financing Approval? Yes No Proposed Project: Building square footage, size of property, description of buildings – materials, etc. Please attach site plan, if available. ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________ If Property is to be Subdivided, Show Division Planned: VI. Estimated Project Costs: Acquisition Costs: A. Land $ ______________ B. Building $ ______________ Construction Costs: A. Renovation or Building Costs: $ ______________ B. On-Site Improvements: Sewer $ ______________ Water $ ______________ Electric $ ______________ Gas $ ______________ Public Streets/Sidewalks $ ______________ Grand Island Regular Meeting - 3/15/2023 Page 45 / 132 Form Updated 7-25-2019cn Page | 3 Private Streets $ ______________ Trails $ ______________ Grading/Dirtwork/Fill $ ______________ Demolition $ ______________ Other $ ______________ Total $ ______________ Soft Costs: A. Architectural & Engineering Fees: $ ______________ B. Financing Fees: $ ______________ C. Legal $ ______________ D. Developer Fees: $ ______________ E. Audit Fees $ ______________ F. Contingency Reserves: $ ______________ G. Other (Please Specify) $ ______________ TOTAL $ ______________ Total Estimated Market Value at Completion: $ Source for Estimated Market Value________________________________________ Source of Financing: A. Developer Equity: $ ______________ B. Commercial Bank Loan: $ ______________ C. Tax Credits: 1. N.I.F.A. $ ______________ 2. Historic Tax Credits $ ______________ 3. New Market Tax Credits $ ______________ 4. Opportunity Zone $ ______________ D. Industrial Revenue Bonds: $ ______________ E. Tax Increment Assistance: $ ______________ F. Enhanced Employment Area $ ______________ Grand Island Regular Meeting - 3/15/2023 Page 46 / 132 Form Updated 7-25-2019cn Page | 4 G. Nebraska Housing Trust Fund $ ______________ H. Other $ ______________ Name, Address, Phone & Fax Numbers of Architect, Engineer and General Contractor: _______________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Estimated Real Estate Taxes on Project Site Upon Completion of Project: (Please Show Calculations) ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Project Construction Schedule: Construction Start Date: _________________________________________________ Construction Completion Date: ___________________________________________ If Phased Project: _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete Grand Island Regular Meeting - 3/15/2023 Page 47 / 132 Form Updated 7-25-2019cn Page | 5 XII. Please Attach Construction Pro Forma XIII. Please Attach Annual Income & Expense Pro Forma (With Appropriate Schedules) TAX INCREMENT FINANCING REQUEST INFORMATION Describe Amount and Purpose for Which Tax Increment Financing is Requested: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ______________________________________________________________ Statement Identifying Financial Gap and Necessity for use of Tax Increment Financing for Proposed Project: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ Grand Island Regular Meeting - 3/15/2023 Page 48 / 132 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 - 3/15/2023 Page 49 / 132 Grand Island Regular Meeting - 3/15/2023 Page 50 / 132 $150,000 $1,500,000 $979,447 Subdivision Phase 1 Subdivision Phase 2 Subdivision Phase 3 Subdivision Phase 4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 40 44 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $6,000,000 $6,600,000 $1,500,000 $1,500,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,000,000 $12,600,000 $14,100,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $126,973 $266,644 $298,387 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $1,270 $2,666 $2,984 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $104,976 $243,250 $274,676 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $104,976 $348,227 $622,903 $929,005 $1,235,107 $1,541,209 $1,847,311 $2,153,413 $2,459,515 $2,765,617 $3,071,719 $3,377,821 $3,683,923 $3,990,025 $4,296,127 Subphase 16 17 18 19 0 0 0 0 0 0 0 0 2038 2039 2039 2040 2039 2040 2040 2041 $979,447 $979,447 $979,447 $979,447 $20,727 $20,727 $20,727 $20,727 $0 $0 $0 $0 $9,600,000 $3,000,000 $1,500,000 $1,500,000 $203,157 $63,487 $31,743 $31,743 $2,032 $635 $317 $317 $182,430 $42,759 $11,016 $11,016 $4,478,557 $4,521,317 $4,532,333 $4,543,349 6/15/23 $2,976,963.00 $131,006.47 $56,582.39 $74,424.08 $2,920,380.61 $74,424.08 6/15/33 $1,343,833.52 $131,006.47 $97,410.63 $33,595.84 $1,246,422.89 $1,282,608.67 12/15/23 $2,920,380.61 $131,006.47 $57,996.95 $73,009.52 $2,862,383.65 $147,433.59 12/15/33 $1,246,422.89 $131,006.47 $99,845.90 $31,160.57 $1,146,576.99 $1,313,769.24 6/15/24 $2,862,383.65 $131,006.47 $59,446.88 $71,559.59 $2,802,936.77 $218,993.18 6/16/34 $1,146,576.99 $131,006.47 $102,342.04 $28,664.42 $1,044,234.95 $1,342,433.67 12/15/24 $2,802,936.77 $131,006.47 $60,933.05 $70,073.42 $2,742,003.73 $289,066.60 12/16/34 $1,044,234.95 $131,006.47 $104,900.60 $26,105.87 $939,334.35 $1,368,539.54 6/15/25 $2,742,003.73 $131,006.47 $62,456.38 $68,550.09 $2,679,547.35 $357,616.69 6/16/35 $939,334.35 $131,006.47 $107,523.11 $23,483.36 $831,811.24 $1,392,022.90 12/15/25 $2,679,547.35 $131,006.47 $64,017.79 $66,988.68 $2,615,529.56 $424,605.38 12/16/35 $831,811.24 $131,006.47 $110,211.19 $20,795.28 $721,600.05 $1,412,818.18 6/15/26 $2,615,529.56 $131,006.47 $65,618.23 $65,388.24 $2,549,911.33 $489,993.62 6/15/36 $721,600.05 $131,006.47 $112,966.47 $18,040.00 $608,633.59 $1,430,858.18 12/15/26 $2,549,911.33 $131,006.47 $67,258.69 $63,747.78 $2,482,652.65 $553,741.40 12/15/36 $608,633.59 $131,006.47 $115,790.63 $15,215.84 $492,842.96 $1,446,074.02 6/15/27 $2,482,652.65 $131,006.47 $68,940.15 $62,066.32 $2,413,712.50 $615,807.72 6/16/37 $492,842.96 $131,006.47 $118,685.39 $12,321.07 $374,157.56 $1,458,395.10 12/15/27 $2,413,712.50 $131,006.47 $70,663.66 $60,342.81 $2,343,048.84 $676,150.53 12/16/37 $374,157.56 $131,006.47 $121,652.53 $9,353.94 $252,505.03 $1,467,749.04 6/15/28 $2,343,048.84 $131,006.47 $72,430.25 $58,576.22 $2,270,618.59 $734,726.75 6/17/38 $252,505.03 $131,006.47 $124,693.84 $6,312.63 $127,811.19 $1,474,061.66 12/15/28 $2,270,618.59 $131,006.47 $74,241.00 $56,765.46 $2,196,377.59 $791,492.21 12/17/38 $127,811.19 $131,006.47 $127,811.19 $3,195.28 $0.00 $1,477,256.94 6/15/29 $2,196,377.59 $131,006.47 $76,097.03 $54,909.44 $2,120,280.56 $846,401.65 12/15/29 $2,120,280.56 $131,006.47 $77,999.45 $53,007.01 $2,042,281.10 $899,408.67 6/15/30 $2,042,281.10 $131,006.47 $79,949.44 $51,057.03 $1,962,331.66 $950,465.70 12/15/30 $1,962,331.66 $131,006.47 $81,948.18 $49,058.29 $1,880,383.49 $999,523.99 6/15/31 $1,880,383.49 $131,006.47 $83,996.88 $47,009.59 $1,796,386.60 $1,046,533.57 12/15/31 $1,796,386.60 $131,006.47 $86,096.80 $44,909.67 $1,710,289.80 $1,091,443.24 6/15/32 $1,710,289.80 $131,006.47 $88,249.22 $42,757.24 $1,622,040.58 $1,134,200.48 12/15/32 $1,622,040.58 $131,006.47 $90,455.45 $40,551.01 $1,531,585.12 $1,174,751.50 6/15/33 $1,531,585.12 $131,006.47 $92,716.84 $38,289.63 $1,438,868.28 $1,213,041.13 12/15/33 $1,438,868.28 $131,006.47 $95,034.76 $35,971.71 $1,343,833.52 $1,249,012.83 Phase Added Value Completed Value Total Taxes Increment Cumulative TIF Assessor Discount AMORTIZATION SCHEDULE Principal Interest Ending Balance Cumulative InterestScheduled Payment Total Taxes Increment Cumulative TIF Assessor Discount Tax Year Commerical Units Residential Units Payment Date Beginning BalanceInterest Ending Balance Cumulative InterestPayment Date Beginning Balance Scheduled Payment Tax Payment Year Base Value Base Taxes Principal 17 Number of Payments per Year 2 Start Date of Loan 6/15/23 Base Value of Residential Site Total Interest $1,446,074.02 Total Taxable Value Available for TIF $14,620,553 Taxable Input Cost $15,600,000 Scheduled Payments $131,006.47New Residential Units 84 Minus Present Value $979,447 ASSUMPTIONS New Commerical Units 2 Crane Valley - Grand Island, NE January 31, 2023TAX INCREAMENT FINANCING TIF VALUE FINANCING APPROACH COMPLETED VALUATION APPROACH BASE VALUATION APPROACH TIF VALUE $4,543,349 Loan Amount $2,976,963.00 Minimum Value of Completed Residential Door Annual Interest Rate 5.00%Minimum Value of Completed Commerical Property Loan Period in Years Completed Value 2022 Grand Island Levy Rate 2.116222Total 2021 Levy Phase Added Value Subphase Commerical Units Base Value Total Projected TIF $4,543,349 Residential Units Tax Year Tax Payment Year Base Taxes Phases - Years 19 Mill Levy 0.021162 Total TIF Years 19 Assessor Discount $45,433 Description WAIVER OF LIABILITY: Officials representing Olsson Associates have prepared the enclosed estimates to determine the potential real estate taxes that are available for tax increment financing benefiting a development project. The calculations were based upon recent information acquired from the County Assessor’s Office and Nebraska Department of Property Taxation, and by relying upon the percentages that have been assigned to other projects. The prepared hereby waives any direct or implied liability that may result from the use the above assumptions. The preparer is neither an attorney, a licensed appraiser, or financial expert in the use of tax increment financing. The preparer encourages the user to seek certified officials who are considered experts, or directly involved in determining the value of the eligible assets utilized for tax increment financing. Grand Island Regular Meeting - 3/15/2023 Page 51 / 132 Crane Valley Area 34 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 428 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 15th day of March, 2023 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By___________________________ Chairperson ATTEST: __________________________ Secretary Grand Island Regular Meeting - 3/15/2023 Page 52 / 132 Crane Valley Area 34 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 429 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 Concord Investments LLC, (The "Developer") for redevelopment of property described Block A of Crane Valley Subdivision excluding Lots 1, 2 and Outlot A of Crane Valley 9th Subdivision (south of 13th Street and east of the Moore’s Creek Drainway), 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 15th day of March, 2023. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By ___________________________ Chairperson ATTEST: ___________________ Secretary Grand Island Regular Meeting - 3/15/2023 Page 53 / 132 Crane Valley Area 34 Exhibit 1 Draft Redevelopment Plan Forwarded to the Planning Commission Grand Island Regular Meeting - 3/15/2023 Page 54 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item I2 Redevelopment Plan Amendment CRA Area 31 JBA Ventures Henry and Ada Street Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 55 / 132 Area 31 Henry and Ada JBA Ventures LLC Page 1 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 427 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 JBA Ventures LLC. (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 - 3/15/2023 Page 56 / 132 Area 31 Henry and Ada JBA Ventures LLC 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(s) issued in the approximate amount of $950,932 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 15th day of March, 2023 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND NEBRASKA ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Grand Island Regular Meeting - 3/15/2023 Page 57 / 132 Area 31 Henry and Ada JBA Ventures LLC Page 3 EXHIBIT A LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA Legal Descriptions: Lots 1 and 2 of Block 2 of Dawn Subdivision and the West 111 feet of lot 1 and all of lot 2 of Block 1 of Dawn Subdivision in the City of Grand Island, Hall County, Nebraska. Grand Island Regular Meeting - 3/15/2023 Page 58 / 132 Area 31 Henry and Ada JBA Ventures LLC Page 4 * * * * * EXHIBIT B FORM OF REDEVELOPMENT PLAN Grand Island Regular Meeting - 3/15/2023 Page 59 / 132 Redevelopment Plan Amendment Grand Island CRA Area 31 February 2023 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 31 with in the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific redevelopment project in Area 31. Executive Summary: Project Description THE REDEVELOPMENT OF PROPERTIES LOCATED AT 1703 HENRY STREET AND 1703 ADA STREET FOR RESIDENTIAL USES. The use of Tax Increment Financing to aid in rehabilitation expenses associated with redevelopment of the both the Henry and Ada Street properties. The developer is proposing to develop multifamily residential in four buildings with 18 units (10 one bedroom and 8 two bedroom) at this location. This project would not be feasible without the use of TIF. 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, 2025 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 properties are located at 1703 Henry Street and 1703 Ada Street in Grand Island Nebraska, the attached map identifies the subject property and the surrounding land uses. Legal Descriptions: Lots 1 and 2 of Block 2 of Dawn Subdivision and the West 111 feet of lot 1 and all of lot 2 of Block 1 of Dawn Subdivision in the City of Grand Island, Hall County, Nebraska. Grand Island Regular Meeting - 3/15/2023 Page 60 / 132 Existing Land Use and Subject Property Grand Island Regular Meeting - 3/15/2023 Page 61 / 132 The tax increment will be captured for the tax years the payments for which become delinquent in years 2024 through 2041 inclusive for no more than a 15 year period on any portion of the project. The real property ad valorem taxes on the current valuation will continue to be paid to the normal taxing entities. The increase will come from the construction of 4 apartment buildings on these lots. 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. 1. The Redevelopment Project Area has been declared blighted and substandard by action of the Grand Island City Council on July 28, 2020.[§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) Grand Island Regular Meeting - 3/15/2023 Page 62 / 132 (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. The Hall County Regional Planning Commission held a public hearing at their meeting on March 1, 2023 and passed Resolution 2023-xx 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 provide for the demolition and removal any structures on this property. Some structures have already been demolished and removed to prepare for this project and those expenses will be eligible for reimbursement as permitted by statutes. 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 mixed use manufacturing development; this includes uses allowed in the general business district like housing and more intense uses like those found north of this site. A majority of the development along Henry and Ada Streets south of South Street is multifamily residential in nature and has been for more than 25 years. 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 - 3/15/2023 Page 63 / 132 City of Grand Island Future Land Use Map Grand Island Regular Meeting - 3/15/2023 Page 64 / 132 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned M2 Heavy Manufacturing zone. The developer has submitted a request to change the zoning to B2 General Business. All of the properties south of these are zoned B2 and such changes would be consistent with the future land use map. 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 B2 zone would allow residential uses at a density of up to 1 unit per 1000 square feet of property with up to 100% of property covered with a 10 foot setback along the street sides. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities Sewer and water are available and can be extended to support this development. Electric utilities are sufficient for the proposed use. No other utilities would be impacted by the development. The developer will be responsible for installing any sidewalks needed with this 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 has established a purchase price of the property of $460,000. The estimated costs for demolition and site work are $94,000. Total costs for utilities and public streets and sidewalks and private streets is estimated at $533,787. Architecture and planning fees will be $25,859. Legal and fees for reimbursement to the City and the CRA for costs to prepare the contract and monitor the project over the course of the development of $10,000 are included in the eligible expenses. The total of eligible expenses for this project exceeds $1,124,000. The developer will also invest almost $6,000,000 in private funds into the construction of the project. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. Grand Island Regular Meeting - 3/15/2023 Page 65 / 132 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 $950,932 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, 2025 through December 2040. 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 some of these have been demolished prior to consideration of this plan in anticipation of this project. These residential units will be similar to the ones located south of this property that were developed in the mid to late 1990’s. 8. Time Frame for Development Development of this project is anticipated to be completed by December of 2025. Excess valuation should be available for this project for 15 years on each structure beginning with the 2025 tax year. 9. Justification of Project Housing is a critical need in Grand Island and across Nebraska. This project would add 18 units of housing similar to the housing that has been located on Henry and Ada streets since the mid 1990’s. 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. Grand Island Regular Meeting - 3/15/2023 Page 66 / 132 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 $950,932 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 $6,604,164 in private sector financing; a private investment of $6.92 for every TIF dollar invested. Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $460,000 $460,000 Building Costs $5,919,726 $5,919,726 Demolition $54,000 $54,000 Utilities $302,197 $8,500 $310,792 Public Streets/Sidewalk $84,735 $84,735 Private Streets $138,800 $138,800 Grading/Dirtwork $40,000 $40,000 Planning (Arch. & Eng.) $25,859 $25,859 Financing fees/ audit $491,063 $491,063 Legal/ TIF contract $10,000 $10,000 Total $950,932 $6,583,948 $7,534,975 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2024, valuation of approximately $213,282. Based on the 202e levy this would result in a real property tax of approximately $4,514. It is anticipated that the assessed value will increase by $5,247,186 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $111,042 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 on each phase of the project, 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 2022 assessed value: $ 213,282 Estimated value after completion $5,460,468 Increment value $5,247,186 Annual TIF generated (estimated)$111,042 TIF bond issue $950,932 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $213,282 The proposed redevelopment will create additional valuation of $5,247,186. 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 - 3/15/2023 Page 67 / 132 (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 are sufficient to accommodate this development but will need to be extended to serve the properties. 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. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; This will not have an impact on employers within the area.. (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 residential options for residents of Grand Island. (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 are two bedroom units and unlikely to be a family unit, especially for families with school age children. The developer intends to market these primarily to seniors 59 years and older. 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 2020 census 19.8% of the population of Grand Island was between the ages of 5 and 18. 2020 census and 2022 ACS. If the averages hold it would be expected that there would be a maximum of 19 school age child generated by this development. This is mitigate by the fact that 10 of the 18 proposed units are one bedroom units and the other 8 units are only two bedroom. (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This project will expand housing opportunities in the city and is infill development that will not create additional costs for the city. Time Frame for Development Development of this project is anticipated to be completed by December of 2025. The base tax year will vary between January 1, 2024 or 25 and January 1, 2026. Excess valuation should be available for each phase of this project for 15 years beginning in Grand Island Regular Meeting - 3/15/2023 Page 68 / 132 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 18 years with no more than 15 years on any phase of the project or an amount not to exceed $950,932 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 $1,124,000 on TIF eligible activities in excess of other grants given. Grand Island Regular Meeting - 3/15/2023 Page 69 / 132 Grand Island Regular Meeting - 3/15/2023 Page 70 / 132 Grand Island Regular Meeting - 3/15/2023 Page 71 / 132 Grand Island Regular Meeting - 3/15/2023 Page 72 / 132 Grand Island Regular Meeting - 3/15/2023 Page 73 / 132 Grand Island Regular Meeting - 3/15/2023 Page 74 / 132 Grand Island Regular Meeting - 3/15/2023 Page 75 / 132 Grand Island Regular Meeting - 3/15/2023 Page 76 / 132 Grand IslandRegular Meeting - 3/15/2023Page 77 / 132 Grand IslandRegular Meeting - 3/15/2023Page 78 / 132 ADA STREETHENRY STREETEAST PRIVATE DRIVE (100+25 - 102+82.40) 1855 1860 1865 1870 1855 1860 1865 1870 100+25 101+00 102+00 102+82.40 WEST PRIVATE DRIVE (200+25 - 203+16) 1855 1860 1865 1870 1855 1860 1865 1870 200+25 201+00 202+00 203+00 203+16 REVISIONSNO.REV.DATEREVISIONS DESCRIPTIONproject no.: approved by: checked by: drawn by: drawing no.: QA/QC by: date: SHEET www.olsson.comTEL 308.384.8750201 East 2nd StreetGrand Island, NE 68801BAASCH SUBDIVISIONGRAND ISLAND, NE20221GRADING PLANHM NJ NJ 022-00418 C_GRD_02200418 11/28/2022 1 ofPRELIMINARYNOT TO BE USED FOR CONSTRUCTIONDATE PRINTEDOLSSON November 28, 2022EXHIBIT D Grand Island Regular Meeting - 3/15/2023 Page 79 / 132 SOUTH STREET ADA STREETHENRY STREETREVISIONSNO.REV.DATEREVISIONS DESCRIPTIONproject no.: approved by: checked by: drawn by: drawing no.: QA/QC by: date: SHEET www.olsson.comTEL 308.384.8750201 East 2nd StreetGrand Island, NE 68801BAASCH SUBDIVISIONGRAND ISLAND, NE20221CONCEPT PLANNJ NJ 022-00418 2022/11/23 1 ofPRELIMINARYNOT TO BE USED FOR CONSTRUCTIONDATE PRINTEDOLSSON November 29, 2022Grand Island Regular Meeting - 3/15/2023 Page 80 / 132 A B C C D E E F G H I J K L M N GENERAL ABBREVIATIONS O P R S T U V W SPECIAL SYMBOLS SHEET INDEX GRAPHIC SYMBOLS GRAND ISLAND, NE. I.T.TITLE SHEETMATERIAL INDICATIONS NEW 4-PLEX FOR COORDINATING T.01 A3.01 B A3.01 1 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION:DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 Grand Island Regular Meeting - 3/15/2023 Page 81 / 132 ACCESSIBLE ROUTE MANEUVERING CLEARANCES AT DOORS OUTDOOR SIGNAGE SINGLE TOILET REQUIREMENTS BATHROOM FIXTURES & ACCESSORIES TOILET STALL REQUIREMENTS PARKING SPACES DRINKING FOUNTAINS ACCESSIBLE SHOWER HANDRAIL CLEARANCE PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 ADA INFORMATIONADA Grand Island Regular Meeting - 3/15/2023 Page 82 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 FOUNDATION PLAN FOUNDATION PLANA1.01 Grand Island Regular Meeting - 3/15/2023 Page 83 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 LIVING HALL MASTER BEDROOM MASTER BATH WALK-IN CLO. TOILET LAUNDRY/ FURNACE KITCHEN GARAGE GARAGE LIVING KITCHEN BEDROOM #1 CLO. TOILET HALL LAUNDRY/ FURNACE MASTER BEDROOM WALK-IN CLO. MASTER BATH LIVING HALL MASTER BEDROOM MASTER BATH WALK-IN CLO. TOILET KITCHENLAUNDRY/ FURNACE GARAGE LIVING KITCHEN GARAGE BEDROOM #1 CLO. TOILET HALL LAUNDRY/ FURNACE MASTER BEDROOM MASTER BATH WALK-IN CLO.FIRST FLOOR COMPOSITE PLANA1.02 FIRST FLOOR COMPOSITE PLAN LIFE SAFEY SUMMARYLEGEND METER Grand Island Regular Meeting - 3/15/2023 Page 84 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 LIVING HALL MASTER BEDROOM MASTER BATH WALK-IN CLO. TOILET LAUNDRY/ FURNACE KITCHEN GARAGE GARAGE LIVING KITCHEN BEDROOM #1 CLO. TOILET HALL LAUNDRY/ FURNACE MASTER BEDROOM WALK-IN CLO. MASTER BATH METER PARIAL FIRST FLOOR PLAN - 'AREA 'A'PARTIAL FIRST FLOOR PLAN - AREA 'A'A1.03 MATERIAL KEYING LEGEND LEGEND Grand Island Regular Meeting - 3/15/2023 Page 85 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 LIVING HALL MASTER BEDROOM MASTER BATH WALK-IN CLO. TOILET KITCHEN LAUNDRY/ FURNACE GARAGE LIVING KITCHEN GARAGE BEDROOM #1 CLO. TOILET HALL LAUNDRY/ FURNACE MASTER BEDROOM MASTER BATH WALK-IN CLO. PARIAL FIRST FLOOR PLAN - 'AREA 'B'PARTIAL FIRST FLOOR PLAN - AREA 'B'A1.04 MATERIAL KEYING LEGEND LEGEND Grand Island Regular Meeting - 3/15/2023 Page 86 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 ROOF PLAN ROOF PLANA1.05 Grand Island Regular Meeting - 3/15/2023 Page 87 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 FRONT EXTERIOR ELEVATION SIDE EXTERIOR ELEVATION REAR EXTERIOR ELEVATION EXTERIOR ELEVATIONSA2.01 SIDE EXTERIOR ELEVATION Grand Island Regular Meeting - 3/15/2023 Page 88 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL GENERAL NOTES SQUARE FOOTAGE 11-10-2022 11-10-2022PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-20221TYP. EXTERIOR WALL SECTION A3.01WALL SECTION2 2-HOUR FIRE WALL Grand Island Regular Meeting - 3/15/2023 Page 89 / 132 A B C C D E E F G H I J K L M N GENERAL ABBREVIATIONS O P R S T U V W SPECIAL SYMBOLS SHEET INDEX GRAPHIC SYMBOLS GRAND ISLAND, NE. I.T. PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 5-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION:DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 11-10-2022 11-10-2022 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 GENERAL NOTES SQUARE FOOTAGE TITLE SHEETMATERIAL INDICATIONS NEW 5-PLEX FOR COORDINATING T.01 A3.01 B A3.01 1 Grand Island Regular Meeting - 3/15/2023 Page 90 / 132 ACCESSIBLE ROUTE MANEUVERING CLEARANCES AT DOORS OUTDOOR SIGNAGE SINGLE TOILET REQUIREMENTS BATHROOM FIXTURES & ACCESSORIES TOILET STALL REQUIREMENTS PARKING SPACES DRINKING FOUNTAINS ACCESSIBLE SHOWER HANDRAIL CLEARANCE PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 5-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 11-10-2022 11-10-2022 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 GENERAL NOTES SQUARE FOOTAGE ADA INFORMATIONADA Grand Island Regular Meeting - 3/15/2023 Page 91 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 5-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 11-10-2022 11-10-2022 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 GENERAL NOTES SQUARE FOOTAGE FOUNDATION PLAN A1.01FOUNDATION PLANGrand Island Regular Meeting - 3/15/2023 Page 92 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 5-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 11-10-2022 11-10-2022 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 GENERAL NOTES SQUARE FOOTAGE FIRST FLOOR COMPOSITE PLAN FIRST FLOOR COMPOSITE PLANA1.02 LIVING HALL MASTER BEDROOM MASTER BATH MASTER CLO. KITCH.LAUNDRY/ FURNACE GARAGE GARAGE LIVING KITCH.BEDROOM #1 CLO. TOILET TOILET HALL LAUNDRY/ FURNACE MASTER BEDROOM MASTER CLO.MASTER BATH LIVING HALL MASTER BEDROOM MASTER BATH MASTER CLO. TOILET KITCH. LAUNDRY/ FURNACE GARAGE LIVING GARAGE KITCH.BEDROOM #1 CLO. TOILET HALL LAUNDRY/ FURNACE MASTER BATH MASTER CLO. MASTER BEDROOM LIVING HALL MASTER BEDROOM MASTER BATH MASTER CLO. TOILET KITCH.LAUNDRY/ FURNACE GARAGE METER LIFE SAFEY SUMMARYLEGEND Grand Island Regular Meeting - 3/15/2023 Page 93 / 132 LIVING HALL MASTER BEDROOM MASTER BATH MASTER CLO. KITCH.LAUNDRY/ FURNACE GARAGE GARAGE LIVING KITCH.BEDROOM #1 CLO. TOILET TOILET HALL LAUNDRY/ FURNACE MASTER BEDROOM MASTER CLO.MASTER BATH LIVING HALL MASTER BEDROOM MASTER BATH MASTER CLO. TOILET KITCH. LAUNDRY/ FURNACE GARAGE LIVING KITCH. GARAGE LIVING GARAGE KITCH.BEDROOM #1 CLO. TOILET HALL LAUNDRY/ FURNACE MASTER BATH MASTER CLO. MASTER BEDROOM LIVING HALL MASTER BEDROOM MASTER BATH MASTER CLO. TOILET KITCH.LAUNDRY/ FURNACE GARAGE METER PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 4-PLEX &5-PLEX FOR BAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 04-08-2022 04-08-2022 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 04-08-2022 GENERAL NOTES PARTIAL FIRST FLOOR PLAN ' AREA 'B' PARTIAL FIRST FLOOR PLAN - AREA 'A'FIRST FLOOR ENGLARGED PLANSA1.03 MATERIAL KEYING LEGEND LEGEND Grand Island Regular Meeting - 3/15/2023 Page 94 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 5-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 11-10-2022 11-10-2022 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 GENERAL NOTES SQUARE FOOTAGE ROOF PLAN ROOF PLANA1.04 Grand Island Regular Meeting - 3/15/2023 Page 95 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 5-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 11-10-2022 11-10-2022 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 GENERAL NOTES SQUARE FOOTAGE FRONT EXTERIOR ELEVATION SIDE EXTERIOR ELEVATION REAR EXTERIOR ELEVATION EXTERIOR ELEVATIONSA2.01 SIDE EXTERIOR ELEVATION Grand Island Regular Meeting - 3/15/2023 Page 96 / 132 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER: JBA VENTURES LLC114 N. CUSTER AVE.GRAND ISLAND, NE. 68803PLOT DATE:PROJECT DESCRIPTION: NEW 5-PLEX FORBAASCH DEVELOPMENT PROJECT1703 ADA STREET/1703 HENRY STREETGRAND ISLAND, NE. 68803SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 11-10-2022 11-10-2022 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 11-10-2022 GENERAL NOTES SQUARE FOOTAGE 1 TYP. EXTERIOR WALL SECTION A3.01WALL SECTION2 2-HOUR FIRE WALL Grand Island Regular Meeting - 3/15/2023 Page 97 / 132 Exhibit E Grand Island Regular Meeting - 3/15/2023 Page 98 / 132 Grand Island Regular Meeting - 3/15/2023 Page 99 / 132 Grand Island Regular Meeting - 3/15/2023 Page 100 / 132 Grand Island Regular Meeting - 3/15/2023 Page 101 / 132 Grand Island Regular Meeting - 3/15/2023 Page 102 / 132 Grand Island Regular Meeting - 3/15/2023 Page 103 / 132 Grand Island Regular Meeting - 3/15/2023 Page 104 / 132 Grand Island Regular Meeting - 3/15/2023 Page 105 / 132 Resolution Number 2023-07 HALL COUNTY REGIONAL PLANNING COMMISSION A RESOLUTION RECOMMENDING APPROVAL OF AN AMENDMENT TO A REDEVELOPMENT PLAN IN THE CITY OF GRAND ISLAND, NEBRASKA; AND APPROVAL OF RELATED ACTIONS WHEREAS, the Chairman and Board of the Community Redevelopment Authority of the City of Grand Island, Nebraska (the “Authority”), referred the Redevelopment Plan for CRA Area 31 requested by JBA Ventures LLC to the Hall County Regional Planning Commission, (the “Commission”) for review and recommendation as to its conformity with the general plan for the development of the City of Grand Island, Hall County, Nebraska, pursuant to Section 18-2112 of the Community Development Law, Chapter 18, Article 21, Reissue Revised Statutes of Nebraska, as amended (the “Act”); and WHEREAS, the Commission held a public hearing on the proposed plan on March 1, 2023, and WHEREAS, the chair or president of Hall County Board, Grand Island School Board, Central Platte Natural Resources District, Educational Service Unit #10 and Central Community College were notified by certified mail of said hearing, and WHEREAS, the Commission advertised the time, date and location public hearing in the Grand Island Independent on Friday February 10th and Friday February 17th, and WHEREAS, there are no Neighborhood Associations registered with the City of Grand Island, and WHEREAS, the Commission has reviewed said Redevelopment Plan as to its conformity with the general plan for the development of the City of Grand Island, Hall County; NOW, THEREFORE, BE IT RESOLVED BY THE HALL COUNTY REGIONAL PLANNING COMMISSION AS FOLLOWS: Section 1. The Commission hereby recommends approval of the Redevelopment Plan finding that it is in conformance with the comprehensive development plan (general plan for development) for the City of Grand Island. Section 2. All prior resolutions of the Commission in conflict with the terms and provisions of this resolution are hereby expressly repealed to the extent of such conflicts. Section 3. This resolution shall be in full force and effect from and after its passage as provided by law. DATED: March 1, 2023 HALL COUNTY REGIONAL PLANNING COMMISSION ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Grand Island Regular Meeting - 3/15/2023 Page 106 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item I3 Redevelopment Plan Amendment Crane Valley Concord Investments Area 34 Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 107 / 132 Redevelopment Plan Amendment Grand Island CRA Area 34 March 2023 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 22.5 ACRES OF PROPERTY LOCATED SOUTH OF 13TH STREET AND EAST OF THE MOORE’S CREEK DRAINWAY IN NORTHWEST GRAND ISLAND FOR A MIXED USE COMMERCIAL AND MULTI-FAMILY RESIDENTIAL DEVELOPMENT 2 COMMERCIAL LOTS AND UP TO 84 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 the property for housing and commercial uses. 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. Concord Investments LLC or its predecessor Concord Development LLC has owned this property for more than 25 years. This property has been farmed in corn or beans during that time. This project will also include building a portion of Claude Road along the west side of the property alongside 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, 2025 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:Block A of Crane Valley Subdivision excluding Lots 1, 2 and Outlot A of Crane Valley 9th Subdivision (PID 400150174) Grand Island Regular Meeting - 3/15/2023 Page 108 / 132 Existing Land Use and Subject Property Grand Island Regular Meeting - 3/15/2023 Page 109 / 132 The tax increment will be captured for the tax years the payments for which become delinquent in years 2024 through 2025 inclusive. The TIF contract will be structured so it can be amended each year for up to six years to add the housing and commercial 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 - 3/15/2023 Page 110 / 132 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 pay for necessary infrastructure include sewer, water, drainage and Claude Road to prepare the property 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 April ??, 2023 and passed Resolution 2023-09 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 highway commercial development which would include residential uses at a density of up to 42 units per acre. This property Grand Island Regular Meeting - 3/15/2023 Page 111 / 132 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)] City of Grand Island Future Land Use Map Grand Island Regular Meeting - 3/15/2023 Page 112 / 132 Current Zoning on the Site e. Site Coverage and Intensity of Use The B2 zoning district allows for one dwelling unit per 1000 square feet of lot space with a 3000 square foot minimum lot size. A wide variety of commercial uses are also permitted in this zoning district. The development as proposed will have a residential density of less than 5 units per acre. [§18-2103(b) and §18-2111] Grand Island Regular Meeting - 3/15/2023 Page 113 / 132 f. Additional Public Facilities or Utilities Sanitary sewer and water are available to support this development. Both sanitary sewer and water will need to be extended throughout the site. TIF revenues will be used to offset the cost of these public utility improvements. Electric utilities are sufficient for the proposed use of this property. Electric lines, transformers, and conduit will need to be extended throughout the property. No other publicly owned utilities would be impacted by the development. §18-2103(b) and §18-2111] 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. This property is vacant and has been vacant for more than 1 year; no relocation is contemplated or necessary. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA have any interest in this property. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The purchase price of the property is $245,866 as an eligible expense. The estimated costs of utilities including sewer and water is $775,171. Streets and drainage are estimated at $1,599,465. Planning activities including engineering, architecture, legal fees and government fees are estimated at $347,461. The total of the eligible expenses for this project is estimated by the developer at $2,967,963. 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 $2,967,963 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, 2025 through December 2046. c. Statement of feasible method of relocating displaced families. No families will be displaced as a result of this plan. Grand Island Regular Meeting - 3/15/2023 Page 114 / 132 7. Section 18-2113 of the Act requires: Prior to recommending a redevelopment plan to the governing body for approval, an authority shall consider whether the proposed land uses and building requirements in the redevelopment project area are designed with the general purpose of accomplishing, in conformance with the general plan, a coordinated, adjusted, and harmonious development of the city and its environs which will, in accordance with present and future needs, promote health, safety, morals, order, convenience, prosperity, and the general welfare, as well as efficiency and economy in the process of development, including, among other things, adequate provision for traffic, vehicular parking, the promotion of safety from fire, panic, and other dangers, adequate provision for light and air, the promotion of the healthful and convenient distribution of population, the provision of adequate transportation, water, sewerage, and other public utilities, schools, parks, recreational and community facilities, and other public requirements, the promotion of sound design and arrangement, the wise and efficient expenditure of public funds, and the prevention of the recurrence of insanitary or unsafe dwelling accommodations or conditions of blight. The Authority has considered these elements in proposing this Plan. This amendment, in and of itself will promote consistency with the Comprehensive Plan. This will have the intended result of preventing recurring elements of unsafe buildings and blighting conditions. This will accomplish the goal of increasing the number of residential units within the City of Grand Island and encouraging infill development. 8. Time Frame for Development Development of this project is anticipated to begin in the 2023 year. The build out of the subdivision is planned in five phases between 2024 and 2030. It is anticipated that the units in this development will be fully built out by 2030 with the tax increment on those homes extending to 2046. Excess valuation should be available for the first homes built with this project for 15 years beginning with the 2024 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 2022 the city issued permits for 680 new housing units including both restricted and unrestricted units leaving a need for 673 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. Grand Island Regular Meeting - 3/15/2023 Page 115 / 132 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. 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 $2,917,963 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 $14,767,874 in private sector financing and investment; a private investment of $5.06 for every TIF dollar invested. Use of Funds Source of funds Description TIF Funds Private Funds Total Site Acquistion $245,866 $245,866 Building Costs $13,000,000 $13,000,000 Public Streets $825,741 $825,741 Private Streets $411,038 $411,038 Trails $108,436 $108,436 Sewer/Water/Electric $775,171 $775,171 Grading/Dirtwork $254,250 $254,250 Planning (Arch. & Eng.) $297,461 $297,461 Financing fees/ audit $1,446,074 $1,446,074 Legal/ TIF contract $50,000 $50,000 Developer Fees $271,800 $271,800 Total $2,967,963 $14,717,874 $17,685,837 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2024 valuation of approximately $979,447. Based on the 2022 levy this would result in a real property tax of approximately $20,727. It is anticipated that the assessed value will increase by $14,620,553 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $330,131 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. Grand Island Regular Meeting - 3/15/2023 Page 116 / 132 Estimated 2024 assessed value: $ 979,447 Estimated value after completion $ 15,600,000 Increment value $ 14,620,553 Annual TIF generated (estimated) $ 330,131 TIF bond issue $ 2,967,963 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $979,447. The proposed redevelopment will create additional valuation of $14,620,553 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 up to 84 additional housing units and provide for the development and construction of Claude Road on the east side of this property. The tax shift from this project will be equal to the total of the bond principal of $2,967,963 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 estimates that each unit of multifamily housing results in an FTE of 1.16 job. An average of 15 apartments would produce about 17.4 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. Grand Island Regular Meeting - 3/15/2023 Page 117 / 132 (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 2017 to 2021 according the American Community Survey is 2.57. According current census numbers 20.2% of the population of Grand Island was between the ages of 5 and 18. If the averages hold it would be expected that 213 people would be housed at this location and there would be a maximum of 43 school age children generated by this development. If this develops at a rate of 15 units per year for 6 years approximately 8 children could be added to the school age population every year with this development. These 8 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. This is likely to be mitigated based on the size and configuration of these units that will make them less attractive to families with children. The Grand Island Public School System was notified on March 4, 2023 that the CRA would be considering this application at their March 15, 2023 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 2022 the City of Grand Island has issue permits for 688 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 summer of 2023 and the end of 2029. The base tax year should be calculated on the value of the property as of January 1, 2024 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 a base amount of $2,967,963 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 $2,967,963 on TIF eligible activities. 1 https://nces.ed.gov/ccd/districtsearch/district_detail.asp?ID2=3100016 Grand Island Regular Meeting - 3/15/2023 Page 118 / 132 Form Updated 7-25-2019cn Page | 1 BACKGROUND INFORMATION RELATIVE TO TAX INCREMENT FINANCING REQUEST Project Redeveloper Information Business Name: ______________________________________________________________ Address: _______________________________________________________________ Telephone No.: __________________________ Fax No.: _______________ Email: _________________________________________________________ Contact: _______________________________________________________________ Application Submission Date: Brief Description of Applicant’s Business:__ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________ Legal Description/Address of Proposed Project Community Redevelopment Area Number ________ Grand Island Regular Meeting - 3/15/2023 Page 119 / 132 Form Updated 7-25-2019cn Page | 2 Present Ownership Proposed Project Site: ________________________________________________________________ _____________________________________ Is purchase of the site contingent on Tax Increment Financing Approval? Yes No Proposed Project: Building square footage, size of property, description of buildings – materials, etc. Please attach site plan, if available. ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________ If Property is to be Subdivided, Show Division Planned: VI. Estimated Project Costs: Acquisition Costs: A. Land $ ______________ B. Building $ ______________ Construction Costs: A. Renovation or Building Costs: $ ______________ B. On-Site Improvements: Sewer $ ______________ Water $ ______________ Electric $ ______________ Gas $ ______________ Public Streets/Sidewalks $ ______________ Grand Island Regular Meeting - 3/15/2023 Page 120 / 132 Form Updated 7-25-2019cn Page | 3 Private Streets $ ______________ Trails $ ______________ Grading/Dirtwork/Fill $ ______________ Demolition $ ______________ Other $ ______________ Total $ ______________ Soft Costs: A. Architectural & Engineering Fees: $ ______________ B. Financing Fees: $ ______________ C. Legal $ ______________ D. Developer Fees: $ ______________ E. Audit Fees $ ______________ F. Contingency Reserves: $ ______________ G. Other (Please Specify) $ ______________ TOTAL $ ______________ Total Estimated Market Value at Completion: $ Source for Estimated Market Value________________________________________ Source of Financing: A. Developer Equity: $ ______________ B. Commercial Bank Loan: $ ______________ C. Tax Credits: 1. N.I.F.A. $ ______________ 2. Historic Tax Credits $ ______________ 3. New Market Tax Credits $ ______________ 4. Opportunity Zone $ ______________ D. Industrial Revenue Bonds: $ ______________ E. Tax Increment Assistance: $ ______________ F. Enhanced Employment Area $ ______________ Grand Island Regular Meeting - 3/15/2023 Page 121 / 132 Form Updated 7-25-2019cn Page | 4 G. Nebraska Housing Trust Fund $ ______________ H. Other $ ______________ Name, Address, Phone & Fax Numbers of Architect, Engineer and General Contractor: _______________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Estimated Real Estate Taxes on Project Site Upon Completion of Project: (Please Show Calculations) ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Project Construction Schedule: Construction Start Date: _________________________________________________ Construction Completion Date: ___________________________________________ If Phased Project: _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete Grand Island Regular Meeting - 3/15/2023 Page 122 / 132 Form Updated 7-25-2019cn Page | 5 XII. Please Attach Construction Pro Forma XIII. Please Attach Annual Income & Expense Pro Forma (With Appropriate Schedules) TAX INCREMENT FINANCING REQUEST INFORMATION Describe Amount and Purpose for Which Tax Increment Financing is Requested: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ______________________________________________________________ Statement Identifying Financial Gap and Necessity for use of Tax Increment Financing for Proposed Project: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ Grand Island Regular Meeting - 3/15/2023 Page 123 / 132 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 - 3/15/2023 Page 124 / 132 Grand Island Regular Meeting - 3/15/2023 Page 125 / 132 $150,000 $1,500,000 $979,447 Subdivision Phase 1 Subdivision Phase 2 Subdivision Phase 3 Subdivision Phase 4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 40 44 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $979,447 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $20,727 $6,000,000 $6,600,000 $1,500,000 $1,500,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $6,000,000 $12,600,000 $14,100,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $15,600,000 $126,973 $266,644 $298,387 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $330,131 $1,270 $2,666 $2,984 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $3,301 $104,976 $243,250 $274,676 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $306,102 $104,976 $348,227 $622,903 $929,005 $1,235,107 $1,541,209 $1,847,311 $2,153,413 $2,459,515 $2,765,617 $3,071,719 $3,377,821 $3,683,923 $3,990,025 $4,296,127 Subphase 16 17 18 19 0 0 0 0 0 0 0 0 2038 2039 2039 2040 2039 2040 2040 2041 $979,447 $979,447 $979,447 $979,447 $20,727 $20,727 $20,727 $20,727 $0 $0 $0 $0 $9,600,000 $3,000,000 $1,500,000 $1,500,000 $203,157 $63,487 $31,743 $31,743 $2,032 $635 $317 $317 $182,430 $42,759 $11,016 $11,016 $4,478,557 $4,521,317 $4,532,333 $4,543,349 6/15/23 $2,976,963.00 $131,006.47 $56,582.39 $74,424.08 $2,920,380.61 $74,424.08 6/15/33 $1,343,833.52 $131,006.47 $97,410.63 $33,595.84 $1,246,422.89 $1,282,608.67 12/15/23 $2,920,380.61 $131,006.47 $57,996.95 $73,009.52 $2,862,383.65 $147,433.59 12/15/33 $1,246,422.89 $131,006.47 $99,845.90 $31,160.57 $1,146,576.99 $1,313,769.24 6/15/24 $2,862,383.65 $131,006.47 $59,446.88 $71,559.59 $2,802,936.77 $218,993.18 6/16/34 $1,146,576.99 $131,006.47 $102,342.04 $28,664.42 $1,044,234.95 $1,342,433.67 12/15/24 $2,802,936.77 $131,006.47 $60,933.05 $70,073.42 $2,742,003.73 $289,066.60 12/16/34 $1,044,234.95 $131,006.47 $104,900.60 $26,105.87 $939,334.35 $1,368,539.54 6/15/25 $2,742,003.73 $131,006.47 $62,456.38 $68,550.09 $2,679,547.35 $357,616.69 6/16/35 $939,334.35 $131,006.47 $107,523.11 $23,483.36 $831,811.24 $1,392,022.90 12/15/25 $2,679,547.35 $131,006.47 $64,017.79 $66,988.68 $2,615,529.56 $424,605.38 12/16/35 $831,811.24 $131,006.47 $110,211.19 $20,795.28 $721,600.05 $1,412,818.18 6/15/26 $2,615,529.56 $131,006.47 $65,618.23 $65,388.24 $2,549,911.33 $489,993.62 6/15/36 $721,600.05 $131,006.47 $112,966.47 $18,040.00 $608,633.59 $1,430,858.18 12/15/26 $2,549,911.33 $131,006.47 $67,258.69 $63,747.78 $2,482,652.65 $553,741.40 12/15/36 $608,633.59 $131,006.47 $115,790.63 $15,215.84 $492,842.96 $1,446,074.02 6/15/27 $2,482,652.65 $131,006.47 $68,940.15 $62,066.32 $2,413,712.50 $615,807.72 6/16/37 $492,842.96 $131,006.47 $118,685.39 $12,321.07 $374,157.56 $1,458,395.10 12/15/27 $2,413,712.50 $131,006.47 $70,663.66 $60,342.81 $2,343,048.84 $676,150.53 12/16/37 $374,157.56 $131,006.47 $121,652.53 $9,353.94 $252,505.03 $1,467,749.04 6/15/28 $2,343,048.84 $131,006.47 $72,430.25 $58,576.22 $2,270,618.59 $734,726.75 6/17/38 $252,505.03 $131,006.47 $124,693.84 $6,312.63 $127,811.19 $1,474,061.66 12/15/28 $2,270,618.59 $131,006.47 $74,241.00 $56,765.46 $2,196,377.59 $791,492.21 12/17/38 $127,811.19 $131,006.47 $127,811.19 $3,195.28 $0.00 $1,477,256.94 6/15/29 $2,196,377.59 $131,006.47 $76,097.03 $54,909.44 $2,120,280.56 $846,401.65 12/15/29 $2,120,280.56 $131,006.47 $77,999.45 $53,007.01 $2,042,281.10 $899,408.67 6/15/30 $2,042,281.10 $131,006.47 $79,949.44 $51,057.03 $1,962,331.66 $950,465.70 12/15/30 $1,962,331.66 $131,006.47 $81,948.18 $49,058.29 $1,880,383.49 $999,523.99 6/15/31 $1,880,383.49 $131,006.47 $83,996.88 $47,009.59 $1,796,386.60 $1,046,533.57 12/15/31 $1,796,386.60 $131,006.47 $86,096.80 $44,909.67 $1,710,289.80 $1,091,443.24 6/15/32 $1,710,289.80 $131,006.47 $88,249.22 $42,757.24 $1,622,040.58 $1,134,200.48 12/15/32 $1,622,040.58 $131,006.47 $90,455.45 $40,551.01 $1,531,585.12 $1,174,751.50 6/15/33 $1,531,585.12 $131,006.47 $92,716.84 $38,289.63 $1,438,868.28 $1,213,041.13 12/15/33 $1,438,868.28 $131,006.47 $95,034.76 $35,971.71 $1,343,833.52 $1,249,012.83 Phase Added Value Completed Value Total Taxes Increment Cumulative TIF Assessor Discount AMORTIZATION SCHEDULE Principal Interest Ending Balance Cumulative InterestScheduled Payment Total Taxes Increment Cumulative TIF Assessor Discount Tax Year Commerical Units Residential Units Payment Date Beginning BalanceInterest Ending Balance Cumulative InterestPayment Date Beginning Balance Scheduled Payment Tax Payment Year Base Value Base Taxes Principal 17 Number of Payments per Year 2 Start Date of Loan 6/15/23 Base Value of Residential Site Total Interest $1,446,074.02 Total Taxable Value Available for TIF $14,620,553 Taxable Input Cost $15,600,000 Scheduled Payments $131,006.47New Residential Units 84 Minus Present Value $979,447 ASSUMPTIONS New Commerical Units 2 Crane Valley - Grand Island, NE January 31, 2023TAX INCREAMENT FINANCING TIF VALUE FINANCING APPROACH COMPLETED VALUATION APPROACH BASE VALUATION APPROACH TIF VALUE $4,543,349 Loan Amount $2,976,963.00 Minimum Value of Completed Residential Door Annual Interest Rate 5.00%Minimum Value of Completed Commerical Property Loan Period in Years Completed Value 2022 Grand Island Levy Rate 2.116222Total 2021 Levy Phase Added Value Subphase Commerical Units Base Value Total Projected TIF $4,543,349 Residential Units Tax Year Tax Payment Year Base Taxes Phases - Years 19 Mill Levy 0.021162 Total TIF Years 19 Assessor Discount $45,433 Description WAIVER OF LIABILITY: Officials representing Olsson Associates have prepared the enclosed estimates to determine the potential real estate taxes that are available for tax increment financing benefiting a development project. The calculations were based upon recent information acquired from the County Assessor’s Office and Nebraska Department of Property Taxation, and by relying upon the percentages that have been assigned to other projects. The prepared hereby waives any direct or implied liability that may result from the use the above assumptions. The preparer is neither an attorney, a licensed appraiser, or financial expert in the use of tax increment financing. The preparer encourages the user to seek certified officials who are considered experts, or directly involved in determining the value of the eligible assets utilized for tax increment financing. Grand Island Regular Meeting - 3/15/2023 Page 126 / 132 Crane Valley Area 34 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 428 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 15th day of March, 2023 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By___________________________ Chairperson ATTEST: __________________________ Secretary Grand Island Regular Meeting - 3/15/2023 Page 127 / 132 Crane Valley Area 34 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 429 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 Concord Investments LLC, (The "Developer") for redevelopment of property described Block A of Crane Valley Subdivision excluding Lots 1, 2 and Outlot A of Crane Valley 9th Subdivision (south of 13th Street and east of the Moore’s Creek Drainway), 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 15th day of March, 2023. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By ___________________________ Chairperson ATTEST: ___________________ Secretary Grand Island Regular Meeting - 3/15/2023 Page 128 / 132 Crane Valley Area 34 Exhibit 1 Draft Redevelopment Plan Forwarded to the Planning Commission Grand Island Regular Meeting - 3/15/2023 Page 129 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item T1 9. Consider motion to enter into executive session related to threatened litigation for condemnation of three leasehold interests at the Conestoga Mall; for purposes of considering engagement of legal services Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 130 / 132 March 10, 2023 Re: Consideration of contracting for legal services related to condemnation proceedings involving leases at the Conestoga Mall/Conestoga Market Place More information will be sent out with a revised packet at least 24 hours prior to meeting to be held at 4:00 PM March 15 at the Grand Island City Hall. Mike Bacon is reviewing documents that were submitted and will approve before they are sent out to the CRA and public. Grand Island Regular Meeting - 3/15/2023 Page 131 / 132 Community Redevelopment Authority (CRA) Wednesday, March 15, 2023 Regular Meeting Item X1 10. Consider adoption of a resolution of the Community Redevelopment Authority of the City of Grand Island, Nebraska, approving exercise of eminent domain power and related matters and agreements. Staff Contact: Grand Island Regular Meeting - 3/15/2023 Page 132 / 132