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11-08-2023 Community Redevelopment Authority November 8, 2023 Packet
Community Redevelopment Authority Agenda City Hall 100 East First Street Regular Meeting of November 8, 2023 4:00 PM 1. CALL TO ORDER This is an open meeting of the Grand Island Community Redevelopment Authority. The Grand Island CRA abides by the Open Meetings Act in conducting business. A copy of the Open Meetings Act is displayed in the back of this room as required by state law. The CRA may vote to go into Closed Session on any agenda item as allowed by state law. 2. ROLL CALL 3. MEETING MINUTES a. Minutes from the October 18, 2023 CRA meeting 4. FINANCIAL REPORTS a. Financial Reports from October 1, 2023 to October 31, 2023 5. BILLS a. Schedule of Bills for November 8, 2023 6. COMMITTED PROJECTS & CRA PROPERTIES a. A review of CRA Committed Projects and Properties 7. REDEVELOPMENT CONTRACTS AND PLANS a. Bond Resolution and Contract CRA Area 34 - Alltell Building Renovation and Rehabilitation at 3650 W. 13th Street in Grand Island – 3560 LLC Consideration of approval of the Bond Resolution and Redevelopment Contract for renovation of the Alltel building at 3650 W. 13th Street Resolution 460 b. Redevelopment Plan Amendment CRA Area 28- Amendment to the Area Included in the Enhanced Employment Area to include additional properties, specifically: Wells Fargo, Red Lobster and in Grand Island – Woodsonia Hwy 281, LLC Consideration of Resolution 461- Forward a Redevelopment Plan Amendment to the Grand Island City Council to amend the enhanced employment area for the Conestoga Marketplace to include the Red Lobster, Wells Fargo and Balls facilities immediately adjacent to the approved enhanced employment area in Grand Island – Woodsonia Hwy 281, LLC c. Redevelopment Plan Amendment CRA Area 37- 610 N Darr Avenue in the City of Grand Island, Nebraska in Grand Island – Beckett Inc. Page 1 of 245 Consideration of Resolution 462- Forward a Redevelopment Plan Amendment to the Grand Island City Council for property located south 610 N Darr Avenue in the City of Grand Island, Nebraska in Grand Island – Beckett Inc. d. Redevelopment Plan Amendment CRA Area 17- Multiple projects in the Prairie Commons fourth and sixth subdivisions and Ponderosa Village Second Subdivision located south of Schimmer Drive and west of U.S. Highway 281 in the City of Grand Island, Nebraska in Grand Island – Prataria Ventures LLC Consideration of Resolution 463- Forward a Redevelopment Plan Amendment to the Grand Island City Council for property located in the Prairie Commons fourth and sixth subdivisions and Ponderosa Village Second Subdivision located south of Schimmer Drive and west of U.S. Highway 281 in the City of Grand Island, Nebraska in Grand Island – Prataria Ventures LLC e. Redevelopment Plan Amendment CRA Area 1- 205 W. 1st Street (Elks Building) in the City of Grand Island, Nebraska in Grand Island – SNH Holdings L.L.C. Consideration of Resolution 464- Forward a Redevelopment Plan Amendment to the Hall County Regional Planning Commission for property located at 205 W. 1st Street in the City of Grand Island, Nebraska in Grand Island – SNH Holdings L.L.C. Consideration of Resolution 465 - Resolution of Intent to enter into a Site Specific Redevelopment Contract and Approval of related actions 30-day notice to city council for property located at 205 W. 1st Street in the City of Grand Island, Nebraska in Grand Island – SNH Holdings L.L.C. 8. OTHER ITEMS 9. DIRECTOR COMMUNICATION This is an opportunity for the Director to comment on current events, activities, and issues of interest to the authority 10. NEXT MEETING DATE Page 2 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 3.a. Subject: Minutes from the October 18, 2023 CRA meeting Staff Contact: Chad Nabity BACKGROUND: Consideration of approval of the Minutes of the October 18, 2023 meeting RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. Draft Minutes October 18, 2023 Page 3 of 245 OFFICIAL PROCEEDINGS MINUTES OF COMMUNITY REDEVELOPMENT AUTHORITY MEETING OF October 18, 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 October 18, 2023 at City Hall, 100 E. First Street. Notice of the meeting was given in the October 11, 2023 Grand Island Independent. 1. CALL TO ORDER. Chairman Gdowski called the meeting to order at 10:00 a.m. The following members were present: Tom Gdowski, Jim Truell, Brian Mustion, Vaughn Minton and Chris Schwieger. Also present were: Planning Director Chad Nabity, Planning Administrative Assistant Norma Hernandez, Council Member Mitch Nickerson, Assistant City Administrator Pat Brown and Assistant Finance Director Brian Schultz 2. APPROVAL OF MINUTES. A motion for approval of the Minutes for the September 20, 2023 meeting was made by Mustion and second by Truell. 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 Schwieger to approve September 1- September 30, 2023 financials. Upon roll call vote, all present voted aye. Motion carried 5-0. 4. Approval of Bills A motion was made by Truell and second by Mustion to approve the bills for $932,276.20. 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. Woodsonia (Conestoga Marketplace) –$200,000 - 1st payment of 20 made. Husker Harvest Days –$200,000 - 6th payment in October meeting. Façade Projects – 313-315 N. Locust – hopefully will paid off in November. 106 N Locust – Actively working on the project. Life Safety- Hedde Building – waiting on final occupancy on 10 units Bartenbach Building – finishing up Azure - finishing up. Desert Rose – 3235 S. Locust - Property is still available. Page 4 of 245 6. Redevelopment Project - a. Redevelopment Plan Amendment CRA Area 34 – Alltel Building Renovation and Rehabilitation at 3650 W. 13th Street in Grand Island – 3650 LLC Forward Plan Amendment to the Grand Island City Council Nabity stated Starostka Group Unlimited/3650, LLC is proposing to redevelop and renovate the Alltel building located at 3650 W. 13th Street. The redeveloper is requesting $890,850 in Tax Increment Financing. Twenty Five percent of the TIF Revenue will be allocated to the City of Grand Island for construction of Claude Road. A motion was made by Mustion and second Schwieger to approve the Resolution 454. Upon roll call vote, all present voted aye. Motion carried 5-0. b. Redevelopment Plan Amendment CRA Area 28 – Amendment to the Area Included in the Enhanced Employment Area to include additional properties specifically: Wells Fargo, Red Lobster and in Grand Island – Forward Plan Amendment to the Hall County Regional Planning Commission. Nabity stated the proposal would add 3 parcels to the existing EEA including Red Lobster, Wells Fargo and Balz. All of the project owners have consented to being added to the area. A motion was made by Mustion and second by Truell to approve Resolution 455. Upon roll call vote, all present voted aye. Motion carried 5-0. c. Redevelopment Plan Amendment CRA Area 37- 640 N Darr Avenue – Beckett Inc. Forward Plan Amendment to the Hall County Regional Planning Commission and Notify Council of Intent to Enter into a Redevelopment Contract. Nabity stated the building has been vacant for several years and significant work is necessary to bring it up to code. Developer is proposing to renovate the existing building for use as a transitional facility for persons completing treatment for drug and alcohol addiction. The request is for $567,097 in Tax Increment Financing. A motion was made by Mustion and second by Minton to approve Resolution 456 and Resolution 457. Upon roll call vote, all present voted aye. Motion carried 5-0. d. Redevelopment Plan Amendment CRA Area 17- Multiple Projects in the Prairie Commons fourth and sixth subdivision and Ponderosa Village Second Subdivision. Forward Plan Amendment to the Hall County Regional Planning Commission and Notify Council of Intent to Enter Into a Redevelopment Contract. Page 5 of 245 Nabity stated this next phase of Prairie Commons Development includes five different projects: Chief Corporate Office, Hotel, Quick Serve Restaurant, Financial Office and Restaurant/Bar. The request if for $5,829,686 in Tax Increment Financing. A motion was made by Mustion and second by Minton to approve Resolution 458 and Resolution 459. Upon roll call vote, all present voted aye. Motion carried 5-0. 7. Other Items a. Façade Grant Application: 1150 S. Locust (Long John Silvers) Project was not funded last year. The Façade Review Committee recommends approval. The project – modernize and update the building. Timeline – b. Façade Grant Application: 115 E. South Front (Prairie Pride Brewery) Re-structure & install 15 new windows. Siding on lower east side, installing patio door on east side. c. Façade Grant Application: 305 W. 1st Street (Elks Building) Façade Request - $400,000 ($100,000 per year for four years) Timeline – September 2024 Applicant will need to provide financing approval. d. Façade Grant Application: 703 W. 3rd Street (Babcock Real Estate) Exterior improvements-replace metal siding and new windows. A motion was made by Minton and second by Mustion to approve to the first three façade applications Long Johns Silvers for $100,000, Prairie Pride for $96,370 and Elks Lodge for $100,000 subject to proof of financing approval for the whole project by March 31, 2024. The CRA will consider and has given tentative approval of an addition $100,000 for each of fiscal year 2025, 2026 and 2027 for the Elks project. Babcock Real Estate will be considered first on the list for next fiscal year 2025 or until funding becomes available. Upon roll call vote, all present voted aye. Motion carried 5-0. e. Fire Life Safety Grant: 315 N. Locust 5- 3 bedroom 2 bath upper story apartments and 1 – one bedroom ADA apartment on the main floor. Qualifies for the amount of $100,000. Will likely be done in August 2024. A motion was made by Mustion and second by Truell to approve Fire Life Safety Grant in the amount of $100,000 to 315 N. Locust. Upon roll call vote, all present voted aye. Motion carried 5-0. Page 6 of 245 8. Director Communication. Island Warehouse Project will not be moving forward. TIF - Workforce Housing – Since 2018 it has been possible to consider the cost to build workforce housing a TIF eligible expense. Cities of the first class must have done a housing study within the last 5 year and the Council must pass a workforce housing incentive plan that include using TIF for construction cost. Workforce housing is limited to $275,000 construction costs – single- family house or $200,000 construction cost – multi- family. Council would like to consider using this tool and it will be presented to them at an up coming meeting. TIF – Micro/Expedited – Would allow for in house approval, limited to properties that are platted and vacant and in the city for more than 60 years or structures in the city that are at least 60 years old. One project per site. Cost is $50. This would make TIF more accessible to the average person and focus the use on older areas of the community. Council would like to consider using this tool and it will be presented to them at an up coming meeting. 9.Meeting Adjourned 11:25 a.m. 10. Next Meeting Date – November 8, 2023 at 4 p.m. Meeting adjourned at 11:25 a.m. Respectfully Submitted, Norma Hernandez Page 7 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 4.a. Subject: Financial Reports from October 1, 2023 to October 31, 2023 Staff Contact: Chad Nabity BACKGROUND: Attached are the October 2023 financial statements for the CRA for review and approval RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. 2023 OCT Financials Page 8 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED CONSOLIDATED Beginning Cash 902,656 222,441 REVENUE: Property Taxes - CRA 30,974 30,974 568,038 537,064 5.45% Property Taxes - Conestoga Marketplace - - 200,000 200,000 0.00% Property Taxes -TIF's 884,644 884,644 7,100,000 6,215,356 12.46% Loan Income (Poplar Street Water Line) - - 20,000 20,000 0.00% Interest Income - CRA - - 10,000 10,000 0.00% Interest Income - TIF'S - - - - Land Sales - - - - #DIV/0! Other Revenue - CRA 721,243 721,243 4,393,000 3,671,757 16.42% Other Revenue - TIF's - - - - TOTAL REVENUE 1,636,861 1,636,861 12,291,038 10,654,177 13.32% TOTAL RESOURCES 2,539,517 1,636,861 12,513,479 10,654,177 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 7,192 7,192 100,000 92,808 7.19% Printing & Binding - - 1,000 1,000 0.00% Other Professional Services 4,140 4,140 16,000 11,860 25.87% General Liability Insurance - - 250 250 0.00% Postage - - 250 250 0.00% Legal Notices 15 15 500 485 2.96% Travel & Training - - 4,000 4,000 0.00% Other Expenditures - - - - Office Supplies - - 1,000 1,000 0.00% Supplies - - 300 300 0.00% Land - - 30,000 30,000 Conestoga Marketplace - - 200,000 200,000 0.00% Fiscal Agent Fees/Bond Costs 200,000 200,000 - (200,000) Husker Harvest Days 200,000 200,000 200,000 - 100.00% Life Safety Grants - - 200,000 200,000 0.00% Façade Improvement - - 300,000 300,000 0.00% Building Improvement 520,930 520,930 4,298,000 3,777,070 12.12% Other Projects - - 50,000 50,000 0.00% Bond Principal-TIF's - - 7,100,000 7,100,000 0.00% Bond Interest-TIF's - - - - Interest Expense - - - - TOTAL EXPENSES 932,276 932,276 12,512,300 11,580,024 7.45% INCREASE(DECREASE) IN CASH 704,584 704,584 (221,262) ENDING CASH 1,607,240 704,584 1,179 - CRA CASH 715,091 TIF CASH 892,149 Total Cash 1,607,240 COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 Page 9 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 GENERAL OPERATIONS: Property Taxes - CRA 30,974 30,974 568,038 537,064 5.45% Property Taxes - Conestoga Marketplace - 200,000 200,000 0.00% Interest Income - 10,000 10,000 0.00% Loan Income (Poplar Street Water Line) - 20,000 20,000 0.00% Land Sales - - - #DIV/0! Other Revenue & Motor Vehicle Tax 721,243 721,243 4,393,000 3,671,757 16.42% TOTAL 752,217 752,217 5,191,038 4,438,821 14.49% GIRARD VET CLINIC 90000013 Property Taxes - - TOTAL - - - - GEDDES ST APTS-PROCON 90000014 Property Taxes - - TOTAL - - - - SOUTHEAST CROSSING 90000015 Property Taxes - - TOTAL - - - - POPLAR STREET WATER 90000016 Property Taxes 236 236 (236) TOTAL 236 236 - (236) CASEY'S @ FIVE POINTS 90000017 Property Taxes - - TOTAL - - - - OUTH POINTE HOTEL PROJECT 90000018 Property Taxes - - TOTAL - - - - TOKEN PROPERTIES RUBY 90000024 Property Taxes 1,727 1,727 (1,727) TOTAL 1,727 1,727 - (1,727) GORDMAN GRAND ISLAND 90000025 Property Taxes - - TOTAL - - - - BAKER DEVELOPMENT INC 90000026 Property Taxes - - TOTAL - - - - STRATFORD PLAZA INC 90000027 Property Taxes 12,333 12,333 (12,333) TOTAL 12,333 12,333 - (12,333) Page 10 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 COPPER CREEK 2013 HOUSES 90000028 Property Taxes - - TOTAL - - - - FUTURE TIF'S Property Taxes - 7,100,000 7,100,000 Interest Income - - - - Other Revenue - - - - TOTAL - - 7,100,000 7,100,000 CHIEF IND AURORA COOP 90000029 Property Taxes - - TOTAL - - - - TOKEN PROP KIMBALL ST 90000030 Property Taxes 1,832 1,832 (1,832) TOTAL 1,832 1,832 - (1,832) GI HABITAT OF HUMANITY 90000031 Property Taxes - - TOTAL - - - - AUTO ONE INC 90000032 Property Taxes - - TOTAL - - - - EIG GRAND ISLAND 90000033 Property Taxes 38,532 38,532 (38,532) TOTAL 38,532 38,532 - (38,532) TOKEN PROPERTIES CARY ST 90000034 Property Taxes 4,239 4,239 (4,239) TOTAL 4,239 4,239 - (4,239) WENN HOUSING PROJECT 90000035 Property Taxes - - TOTAL - - - - COPPER CREEK 2014 HOUSES 90000036 Property Taxes 26,312 26,312 (26,312) TOTAL 26,312 26,312 - (26,312) TC ENCK BUILDERS 90000037 Property Taxes 1,970 1,970 (1,970) TOTAL 1,970 1,970 - (1,970) SUPER MARKET DEVELOPERS 90000038 Property Taxes - - TOTAL - - - - MAINSTAY SUITES 90000039 Property Taxes 16,572 16,572 (16,572) TOTAL 16,572 16,572 - (16,572) Page 11 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 TOWER 217 90000040 Property Taxes - - TOTAL - - - - COPPER CREEK 2015 HOUSES 90000041 Property Taxes 19,615 19,615 - (19,615) TOTAL 19,615 19,615 - (19,615) NORTHWEST COMMONS 90000042 Property Taxes - - - TOTAL - - - - HABITAT - 8TH & SUPERIOR 90000043 Property Taxes - - TOTAL - - - - KAUFMAN BUILDING 90000044 Property Taxes - - TOTAL - - - - TALON APARTMENTS 90000045 Property Taxes - - TOTAL - - - - VICTORY PLACE 90000046 Property Taxes - - TOTAL - - - - THINK SMART 90000047 Property Taxes - - TOTAL - - - - BOSSELMAN HQ 90000048 Property Taxes - - TOTAL - - - - TALON APARTMENTS 2017 90000049 Property Taxes - - TOTAL - - - - WEINRICH DEVELOPMENT 90000050 Property Taxes - - TOTAL - - - - WING WILLIAMSONS 90000051 Property Taxes - - TOTAL - - - - HATCHERY HOLDINGS 90000052 Property Taxes - - TOTAL - - - - Page 12 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 FEDERATION LABOR TEMPLE 90000053 Property Taxes - - TOTAL - - - - MIDDLETON PROPERTIES II 90000054 Property Taxes - - TOTAL - - - - COPPER CREEK 2016 HOUSES 90000055 Property Taxes 15,725 15,725 (15,725) TOTAL 15,725 15,725 - (15,725) MENDEZ ENT LLC PHASE 1 90000056 Property Taxes - - TOTAL - - - - EAST PARK ON STUHR 90000057 Property Taxes - - TOTAL - - - - TAKE FLIGHT INVESTMENTS 90000058 Property Taxes - - TOTAL - - - - PRATARIA VENTURES HOSPITAL 90000059 Property Taxes 719,354 719,354 (719,354) TOTAL 719,354 719,354 - (719,354) AMMUNITION PLANT Property Taxes - - TOTAL - - - - URBAN ISLAND LLC 90000061 Property Taxes - - TOTAL - - - - PEACEFUL ROOT 90000062 Property Taxes - - TOTAL - - - - TALON 2019 LOOKBACK 90000063 Property Taxes - - TOTAL - - - - COPPER CREEK PH2 2019 LB 90000064 Property Taxes 4,072 4,072 (4,072) TOTAL 4,072 4,072 - (4,072) GRAND ISLAND HOTEL 90000065 Property Taxes - - TOTAL - - - - Page 13 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 PARAMOUNT OLD SEARS 90000066 Property Taxes - - TOTAL - - - - CENTRAL NE TRUCK WASH 90000067 Property Taxes - - TOTAL - - - - PRATARIA VENTURES MED OFF 90000068 Property Taxes - - TOTAL - - - - TALON 2020 LB PHASE 4 90000069 Property Taxes - - TOTAL - - - - STAROSTKA 5TH ST LB PH 1 90000070 Property Taxes - - TOTAL - - - - COPPER CREEK PH 2 2020 LB 90000071 Property Taxes 8,880 8,880 (8,880) TOTAL 8,880 8,880 - (8,880) COPPER CREEK PH 3 2020 LB 900000072 Property Taxes 5,995 5,995 (5,995) TOTAL 5,995 5,995 - (5,995) HEDDE BUILDING 201 W 3RD 90000073 Property Taxes - - TOTAL - - - - RAWR HOLDINGS 110 W 2ND 90000074 Property Taxes - - TOTAL - - - - ORCHARD REDEV PROJ 90000075 Property Taxes 2,091 2,091 (2,091) TOTAL 2,091 2,091 - (2,091) AMUR RE OLD WELLS FARGO 90000076 Property Taxes - - TOTAL - - - - WALD 12 PROPERTIES LLC 90000077 Property Taxes 3,088 3,088 (3,088) TOTAL 3,088 3,088 - (3,088) WING PROPERTIES 112 E 3RD ST 90000078 Property Taxes - - TOTAL - - - - Page 14 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 WEINRICH DEV 408 E 2ND ST 90000079 Property Taxes - - TOTAL - - - - O'NEILL WOOD RESOURCES Property Taxes - - TOTAL - - - - SE COMMONS - FONNERVIEW 90000081 Property Taxes - - TOTAL - - - - PARAMOUNT 824 E 9TH ST 90000082 Property Taxes - - TOTAL - - - - J&L WESTWARD ENT CAAP 90000083 Property Taxes - - TOTAL - - - - MILLER TIRE 90000084 Property Taxes - - TOTAL - - - - TALON 2021 LB PHASE 5 90000085 Property Taxes - - TOTAL - - - - STAROSTKA 5TH ST 21 LB#2 90000086 Property Taxes 2,071 2,071 (2,071) TOTAL 2,071 2,071 - (2,071) PRATARIA PH 2 SUBPH 2 90000087 Property Taxes - - TOTAL - - - - ORCHARD DEVELOPMENT 90000088 Property Taxes - - TOTAL - - - - PARAMOUNT OLD SEARS 2 MAIN FL 90000089 Property Taxes - - TOTAL - - - - BOSSELMAN KINGS CROSSING 90000090 Property Taxes - - TOTAL - - - - TABITHA 3490 EWOLDT ST 90000091 Property Taxes - - TOTAL - - - - TOTAL REVENUE 1,636,861 1,636,861 12,291,038 10,654,177 13.32% - - - - Page 15 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 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 7,192 7,192 100,000 92,808 7.19% Printing & Binding - 1,000 1,000 0.00% Other Professional Services 4,140 4,140 16,000 11,860 25.87% General Liability Insurance - 250 250 0.00% Postage - 250 250 0.00% Legal Notices 15 15 500 485 2.96% Travel & Training - 4,000 4,000 0.00% Other Expenditures - - - #DIV/0! Office Supplies - 1,000 1,000 0.00% Supplies - 300 300 0.00% Land - 30,000 30,000 0.00% Conestoga Marketplace Yr 1 of 20 Nov 23 200,000 200,000 200,000 - 100.00% Fiscal Agent Fees/Bond Costs - - #DIV/0! PROJECTS Husker Harvest Days Yr 5 of 10 Nov 23 200,000 200,000 200,000 - 100.00% Life Safety Grants - 200,000 200,000 0.00% Façade Improvement - 300,000 300,000 0.00% Building Improvement 520,930 520,930 4,298,000 3,777,070 0.00% Other Projects - 50,000 50,000 0.00% TOTAL CRA EXPENSES 932,276 932,276 5,412,300 4,480,024 17.23% GIRARD VET CLINIC 90000013 Bond Principal - - - TOTAL - - - - GEDDES ST APTS - PROCON 90000014 Bond Principal - - - TOTAL - - - - 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 - - - - Page 16 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 TOKEN PROPERTIES RUBY 90000024 Bond Principal - - - TOTAL - - - - GORDMAN GRAND ISLAND 90000025 Bond Principal - - - TOTAL - - - - BAKER DEVELOPMENT INC 90000026 Bond Principal - - - TOTAL - - - - STRATFORD PLAZA LLC 90000027 Bond Principal - - - TOTAL - - - - COPPER CREEK 2013 HOUSES 90000028 Bond Principal - - - TOTAL - - - - 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 - - - TOTAL - - - - TC ENCK BUILDERS 90000037 Bond Principal - - - TOTAL - - - - Page 17 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 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 - - - TOTAL - - - NORTHWEST COMMONS 90000042 Bond Principal - - - TOTAL - - - HABITAT - 8TH & SUPERIOR 90000043 Bond Principal - - - TOTAL - - - KAUFMAN BUILDING Bond Principal - - - TOTAL - - - TALON APARTMENTS 90000045 Bond Principal - - - TOTAL - - - VICTORY PLACE Bond Principal - - - TOTAL - - - FUTURE TIF'S Bond Principal - 7,100,000 7,100,000 Bond Interest - - - Auditing & Accounting - - - TOTAL - - 7,100,000 7,100,000 THINK SMART 90000047 Bond Principal - - - TOTAL - - - BOSSELMAN HQ 90000048 Bond Principal - - - TOTAL - - - TALON APARTMENTS 2017 90000049 Bond Principal - - - TOTAL - - - Page 18 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 WEINRICH DEVELOPMENT 90000050 Bond Principal - - - TOTAL - - - WING WILLIAMSONS Bond Principal - - - TOTAL - - - HATCHERY HOLDINGS 90000052 Bond Principal - - - TOTAL - - - FEDERATION LABOR TEMPLE Bond Principal - - - TOTAL - - - MIDDLETON PROPERTIES II 90000054 Bond Principal - - - TOTAL - - - COPPER CREEK 2016 HOUSES 90000055 Bond Principal - - - TOTAL - - - EAST PARK ON STUHR 90000057 Bond Principal - - - TOTAL - - - TAKE FLIGHT INVESTMENTS Bond Principal - - - TOTAL - - - PRATARIA VENTURES HOSPITAL 90000059 Bond Principal - - - TOTAL - - - AMMUNITION PLANT Bond Principal - - - TOTAL - - - URBAN ISLAND LLC 90000061 Bond Principal - - - TOTAL - - - PEACEFUL ROOT 90000062 Bond Principal - - - TOTAL - - - TALON 2019 LOOKBACK 90000063 Bond Principal - - - TOTAL - - - COPPER CREEK PH2 2019 LB 90000064 Bond Principal - - - TOTAL - - - Page 19 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 GRAND ISLAND HOTEL 90000065 Bond Principal - - - TOTAL - - - PARAMOUNT OLD SEARS 90000066 Bond Principal - - - TOTAL - - - CENTRAL NE TRUCK WASH 90000067 Bond Principal - - - TOTAL - - - PRATARIA VENTURES MED OFF 90000068 Bond Principal - - - TOTAL - - - TALON 2020 LB PHASE 4 90000069 Bond Principal - - - TOTAL - - - STAROSTKA 5TH ST LOOKBACK PHASE 1 Bond Principal - - - TOTAL - - - COPPER CREEK PHASE 2 '20 LB 90000071 Bond Principal - - - TOTAL - - - COPPER CREEK PH 3 2020 LB 90000072 Bond Principal - - - TOTAL - - - HEDDE BUILDING 201 W 3RD 90000073 Bond Principal - - - TOTAL - - - RAWR HOLDINGS LLC 110 W 2ND ST Bond Principal - - - TOTAL - - - ORCHARD REDEVELOPMENT PROJECT 75 Bond Principal - - - TOTAL - - - AMUR RE OLD WELLS FARGO 90000076 Bond Principal - - - TOTAL - - - WALD 12 PROPERTIES LLC OLD GREENB Bond Principal - - - TOTAL - - - Page 20 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 WING PROPERTIES 112 2 3RD ST Bond Principal - - - TOTAL - - - WEINRICH DEV 408 E 2ND ST 90000079 Bond Principal - - - TOTAL - - - O'NEILL WOOD RESOURCES Bond Principal - - - TOTAL - - - SE COMMONS - FONNERVIEW 90000081 Bond Principal - - - TOTAL - - - PARAMOUNT 824 E 9TH ST 90000082 Bond Principal - - - TOTAL - - - J&L WESTWARD ENT CAAP 90000083 Bond Principal - - - TOTAL - - - MILLER TIRE 900000084 Bond Principal - - - TOTAL - - - TALON 2021 LB PHASE 5 90000085 Bond Principal - - - TOTAL - - - STAROSTKA 5TH ST 21 LOOKBACK #2 86 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 - - - - Page 21 of 245 MONTH ENDED 2023-2024 2024 REMAINING % OF BUDGET October-23 YEAR TO DATE BUDGET BALANCE USED COMMUNITY REDEVELOPMENT AUTHORITY FOR THE MONTH OF OCTOBER 2023 TOTAL EXPENSES 932,276 932,276 12,512,300 11,580,024 7.45% Page 22 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 5.a. Subject: Schedule of Bills for November 8, 2023 Staff Contact: Chad Nabity BACKGROUND: Bills in them amount of $1,797,068.91 are submitted for approval. A list of all payments is included. RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. CRA_Nov_bills Page 23 of 245 Page 24 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 6.a. Subject: A review of CRA Committed Projects and Properties Staff Contact: Chad Nabity BACKGROUND: This is a review of committed projects and CRA owned properties. RECOMMENDATION: SAMPLE MOTION: ATTACHMENTS: 1. 2023 OCT Committed Financials Page 25 of 245 COMMITTED PROJECTS REMAINING GRANT AMOUNT 2024 FY 2025 FY 2026 FY and Beyond ESTIMATED COMP Husker Harvest Days (11/14/17) $ 800,000.00 $ - $ 200,000.00 $ 600,000.00 Oct-27 Conestoga Marketplace-CRA (12/27/22) $ 4,000,000.00 $ - $ 200,000.00 $ 3,800,000.00 FY2042 Conestoga Marketplace-GGI (1/10/23) $ 500,000.00 $ 500,000.00 $ - $ - Dec-23 Conestoga Marketplace-City of GI $ 966,575.98 $ 966,575.98 FY2024 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 1150 S Locust (10/18/2023) $ 100,000.00 $ 100,000.00 Summer 2024 115 E South Front Street (10/18/2023) $ 96,370.00 $ 96,370.00 Summer 2024 205 W First St (Elks) (10/18/2023) $ 100,000.00 $ 100,000.00 Fall 2024 Total Committed $ 6,762,945.98 $ 1,962,945.98 $ 400,000.00 $ 4,400,000.00 FIRE & LIFE SAFETY GRANT TOTAL AMOUNT 2024 FISCAL YR 2025 FISCAL YR 2026 FISCAL YR ESTIMATED COMP 201-203 W. 3rd St. Anson (8-24-16) $ 260,000.00 $ 260,000.00 Fall 2023 Azure Investment Group (5-12-21) $ 70,000.00 $ 70,000.00 Fall 2023 118 W 2nd St Bartenbach Building (5-10- $ 35,000.00 $ 35,000.00 Fall 2023 315 N Locust (10/18/2023) $ 100,000.00 $ 100,000.00 Summer 2024 Total Committed F&L Safety Grant $ 465,000.00 $ 465,000.00 $ - $ - BUDGET 2024 2024 LEFT Life Safety Budgeted 2024 $ 200,000.00 $ 100,000.00 $ 100,000.00 Façade Budgeted 2024 $ 300,000.00 $ 296,370.00 $ 3,630.00 Other Projects Budgeted 2024 $ 50,000.00 $ - $ 50,000.00 Land - Budgeted 2024 $ 30,000.00 $ - $ 30,000.00 Land Sales Budgeted 2024 $ - $ - $ - subtotal $ 396,370.00 $ 183,630.00 Balance $ 396,370.00 $ 183,630.00 BUDGET PAID LEFT Building Improvements * $ 4,298,000.00 $ 520,930.14 $ 3,777,069.86 *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 October 31, 2023 Page 26 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 7.a. Subject: Bond Resolution and Contract CRA Area 34 - Alltell Building Renovation and Rehabilitation at 3650 W. 13th Street in Grand Island – 3560 LLC Consideration of approval of the Bond Resolution and Redevelopment Contract for renovation of the Alltel building at 3650 W. 13th Street Resolution 460 Staff Contact: BACKGROUND: This project would authorize $890,850 of Tax Increment Financing to assist with eligible activities associated with renovating the Alltel building at 3650 W. 13th Street and for the construction of Claude Road on the west side of this property. RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. Alltel Area 34 Contract 3650 LLC 2. 06a Redevelopment Plan Amendment Area 34 Alltel ARW Revisiosn 9.7.23 3. 10_24_2023 Resolutions 2023-280 4. 3650 LLC Alltel Bond Note resolution 460 Page 27 of 245 CRA Area 34 3650 LLC Alltel Contract Page 1 REDEVELOPMENT CONTRACT This Redevelopment Contract is made and entered into as of the day of , 2023, by and between the Community Redevelopment Authority of the City of Grand Island, Nebraska ("Authority"), and 3650, LLC, a Nebraska limited liability company ("Redeveloper"). WITNESSETH: WHEREAS, the City of Grand Island, Nebraska (the "City'), in furtherance of the purposes and pursuant to the provisions of Section 12 of Article VIII of the Nebraska Constitution and Sections 18-2101 through 18-2157, Reissue Revised Statutes of Nebraska, 2012, as amended (collectively the "Act"), has designated an area within the City as blighted and substandard; WHEREAS, the Mayor and Council of the City, after public hearing pursuant to the Act, approved that redevelopment plan entitled "Redevelopment Plan Grand Island CRA Area 34 September 2023" (the "Redevelopment Plan"); WHEREAS, Authority and Redeveloper desire to enter into this Redevelopment Contract in order to implement the Redevelopment Plan and provide for the redevelopment of lands located in a blighted and substandard area; NOW, THEREFORE, in consideration of the mutual covenants and agreements herein set forth, Authority and Redeveloper do hereby covenant, agree and bind themselves as follows: ARTICLE I DEFINITIONS AND INTERPRETATION Section 1.01 Terms Defined in this Redevelopment Contract. Unless the context otherwise requires, the following terms shall have the following meanings for all purposes of this Redevelopment Contract, such definitions to be equally applicable to both the singular and plural forms and masculine, feminine and neuter gender of any of the terms defined: "Act" means Section 12 of Article VIII of the Nebraska Constitution, Sections 18-2101 through 18-2157, Reissue Revised Statutes of Nebraska, 2012, as amended, and acts amendatory thereof and supplemental thereto. "Authority" means the Community Redevelopment Authority of the City of Grand Island, Page 28 of 245 CRA Area 34 3650 LLC Alltel Contract Page 2 Nebraska. "City" means the City of Grand Island, Nebraska. "Governing Body" means the Mayor and City Council of the City. "Holder(s)" means the registered owner or owners of Indebtedness issued by the Authority from time to time outstanding. "Indebtedness" means any bonds, notes, loans, and advances of money or other indebtedness, including interest and premium, if any, thereon, incurred by the Authority pursuant to the Resolution and Article III hereof to provide financing for a portion of the Project Costs and secured in whole or in part by TIF Revenues. The Indebtedness as initially issued by the Authority shall consist of two Tax Increment Development Revenue Notes (3650 Project), designated as Series 2023 A and Series 2023 B, (the “TIF Notes”) to be issued in an aggregate amount not to exceed $890,850. The Series 2023 A TIF Note shall be issued in the amount of $222,712. The Series 2023 A TIF Note shall be substantially in the form set forth on Exhibit C. The Series 2023 A TIF Note shall be delivered to the city of Grand Island. The Series 2023 B TIF Note shall be issued in an amount not to exceed $668,138. The Series 2020 B TIF Note shall be substantially in the form set forth on Exhibit D and purchased by the Redeveloper as set forth in Section 3.04 of this Redevelopment Contract. "Liquidated Damages Amount' means the amounts to be repaid to Authority by Redeveloper pursuant to Section 6.02 of this Redevelopment Contract. "Lot" or "Lots" shall mean the separately platted and subdivided lots within the Redevelopment Project Area. "Project" means the improvements to the Redevelopment Project Area, as further described in Exhibit B attached hereto and incorporated herein by reference and, as used herein, shall include the Redevelopment Project Property and additions and improvements thereto. The Project shall include Project site acquisition costs and all improvements related to Project public infrastructure costs, site preparation costs, all as described in Section 3.04 of this Redevelopment Contract. "Project Cost Certification" means a statement prepared and signed by the Redeveloper verifying the Redeveloper has paid Project Costs identified on Exhibit D, except costs related to Claude Road. "Project Costs" means only costs or expenses incurred by Redeveloper and the City for the purposes set forth in §l8-2103(28) including the providing for such costs by the exercise of the powers set forth in §18-2107(4) of the Act, all as identified on Exhibit D. "Redeveloper" means 3650, LLC, a Nebraska limited liability company. "Redevelopment Project Area" means that certain real property situated in the City of Grand Island, Hall County, Nebraska which has been declared blighted and substandard by the City pursuant to the Act, and which is more particularly described on Exhibit A attached hereto and Page 29 of 245 CRA Area 34 3650 LLC Alltel Contract Page 3 incorporated herein by this reference. All such legal descriptions are subject to change based upon any re-platting requested by the Redeveloper and approved by the City. "Redevelopment Project Property" means all of the Redevelopment Project Area which is the site for the improvements constituting the Project, as more particularly described on Exhibit A attached hereto and incorporated herein by this reference. "Redevelopment Contract" means this redevelopment contract between the Authority and Redeveloper with respect to the Project, as the same may be amended from time to time, including, without limitation, by Redevelopment Contract Amendments executed from time to time in connection with the separate residential phases of the Project. "Redevelopment Plan" means the Redevelopment Plan (also defined in the recitals hereto) for the Redevelopment Project Area related to the Project, as attached hereto as Exhibit B, prepared by the Redeveloper, approved by the City and adopted by the Authority pursuant to the Act. "Resolution" means the Resolution of the Authority authorizing the issuance of the Indebtedness, as supplemented from time to time, and also approving this Redevelopment Contract. "TIF Revenues" means incremental ad valorem taxes generated on the Redevelopment Project Property by the Project which are to be allocated to and paid to the Authority pursuant to the Act. Section 1.02 Construction and Interpretation. The provisions of this Redevelopment Contract shall be construed and interpreted in accordance with the following provisions: (a)Whenever in this Redevelopment Contract it is provided that any person may do or perform any act or thing the word “may" shall be deemed permissive and not mandatory and it shall be construed that such person shall have the right, but shall not be obligated, to do and perform any such act or thing. (b)The phrase "at any time" shall be construed as meaning at any time or from time to time. (c)The word "including" shall be construed as meaning "including, but not limited to." (d)The words "will" and "shall" shall each be construed as mandatory. (e)The words "herein," "hereof," "hereunder", "hereinafter" and words of similar import shall refer to the Redevelopment Contract as a whole rather than to any particular paragraph, section or subsection, unless the context specifically refers thereto. Page 30 of 245 CRA Area 34 3650 LLC Alltel Contract Page 4 (f)Forms of words in the singular, plural, masculine, feminine or neuter shall be construed to include the other forms as the context may require. (g)The captions to the sections of this Redevelopment Contract are for convenience only and shall not be deemed part of the text of the respective sections and shall not vary by implication or otherwise any of the provisions hereof. ARTICLE II FINDINGS AND REPRESENTATIONS Section 2.01 Findings of Authority. The Authority makes the following findings: (a)The Authority is a duly organized and validly existing community Redevelopment Authority under the Act. (b)The Redevelopment Plan has been duly approved by the City and adopted as amended by the Authority pursuant to Sections 18-2109 through 18-2117 of the Act. (c)The Authority deems it to be in the public interest and in furtherance of the purposes of the Act to accept the proposal submitted by Redeveloper as specified herein. (d)The Redevelopment Project is expected to achieve the public purposes of the Act by among other things, increasing employment, improving public infrastructure, increasing the tax base, and lessening blighted and substandard conditions in the Redevelopment Project Area and other purposes set forth in the Act. (e)(1) The Redevelopment Plan is feasible and in conformity with the general plan for the development of the City as a whole and the Redevelopment Plan is in conformity with the legislative declarations and determinations set forth in the Act, and (2)Based upon investigation by the Authority and on representations made by the Redeveloper and its Lender: (i)the Project would not be economically feasible without the use of tax-increment financing (funds provided pursuant to Section 18-2147 of the Act), and (ii)the Project would not occur in the Redevelopment Project Area without the use of tax-increment financing. (iii)the Authority has documented the financial infeasibility as a lack of adequate return on capital to undertake the Project. Page 31 of 245 CRA Area 34 3650 LLC Alltel Contract Page 5 (f)The Authority has determined that the costs and benefits of the Project, including costs and benefits to other affected political subdivisions (and documented the same as part of the cost benefit analysis contained in the Redevelopment Plan), the economy of the community, and the demand for public and private services have been analyzed by the Authority and have been found to be in the long-term best interest of the community impacted by the Project. (g)The Authority has determined that the proposed land uses and building requirements in the Redevelopment Area are designed with the general purpose of accomplishing, in conformance with the general plan, a coordinated, adjusted, and harmonious development of the City and its environs which will, in accordance with present and future needs, promote health, safety, morals, order, convenience, prosperity, and the general welfare, as well as efficiency and economy in the process of development: including, among other things, adequate provision for traffic, vehicular parking, the promotion of safety from fire, panic, and other dangers, adequate provision for light and air, the promotion of the healthful and convenient distribution of population, the provision of adequate transportation, water, sewerage and other public utilities, schools, parks, recreational and community facilities, and other public requirements, the promotion of sound design and arrangement, the wise and efficient expenditure of public funds, and the prevention of the recurrence of insanitary or unsafe dwelling accommodations, or conditions of blight. Section 2.02 Representations of Redeveloper. The Redeveloper makes the following representations: (a)The Redeveloper is a Nebraska limited liability company, authorized to do business in the state of Nebraska, having the power to enter into this Redevelopment Contract and perform all obligations contained herein and by proper action has been duly authorized to execute and deliver this Redevelopment Contract. Prior to the execution and delivery of this Redevelopment Contract, the Redeveloper has delivered to the Authority a certificate of good standing, a certified copy of the Redeveloper's by-laws, organizational documents and a certified copy of the resolution or resolutions authorizing the execution and delivery of this Redevelopment Contract. (b)The execution and delivery of this Redevelopment Contract and the consummation of the transactions herein contemplated will not conflict with or constitute a breach of or default under any bond, debenture, note or other evidence of indebtedness or any contract, loan agreement or lease to which Redeveloper is a party or by which it is bound, or result in the creation or imposition of any lien, charge or encumbrance of any nature upon any of the property or assets of the Redeveloper contrary to the terms of any instrument or agreement. (c)There is no litigation pending or to the best of its knowledge threatened against Redeveloper affecting its ability to carry out the acquisition, construction, equipping and furnishing of the Project or the carrying into effect of this Redevelopment Contract or in Page 32 of 245 CRA Area 34 3650 LLC Alltel Contract Page 6 any other matter materially affecting the ability to Redeveloper to perform its obligations hereunder. (d)The Project would not be economically feasible without the use of tax increment financing. (e)The Project would not occur in the Redevelopment Project Area without the use of tax-increment financing. (f)The Redeveloper certifies that it has not and will not apply for (i) tax incentives under the Nebraska Advantage Act or the ImagiNE Act for a project located or to be located within the redevelopment project area; (ii) a refund of the city’s local option sales tax revenue; and (iii) no application has been made or approved under the Nebraska Advantage Act or the or the ImagiNE Act. ARTICLE III OBLIGATIONS OF THE AUTHORITY Section 3.01 Division of Taxes. In accordance with Section 18-2147 of the Act and the terms of the Resolution, the Authority hereby provides that any ad valorem tax on any Lot or Lots located in the Redevelopment Project Area for the benefit of any public body be divided for a period of fifteen years after the effective date (the “Effective Date”), as described in Section 18-2147 (1) of the Act (which Effective date shall be the January 1 of the year in which the division of taxes occurs which shall January 1, 202_ Said taxes shall be divided as follows: (a)That portion of the ad valorem tax on real property in the Redevelopment Project Area which is produced by levy at the rate fixed each year by or for each public body upon the "redevelopment project valuation" (as defined in the Act) 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 Area in excess of such amount (the "Incremental Ad Valorem Tax"), if any, shall be allocated to, is pledged to, and, when collected, paid into a special fund of the Authority (designated in the Resolution as the "Note Fund") to pay the principal of, the interest on, and any premium due in connection with the Indebtedness. When such Indebtedness, including interest and premium due have been paid, the Authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon such real property shall be paid into the funds of the respective public bodies. Page 33 of 245 CRA Area 34 3650 LLC Alltel Contract Page 7 Section 3.02 Issuance of Indebtedness Prior to December 1, 2023, the Authority shall issue one Tax Increment Revenue Note, in one taxable series, in the principal amount of $222,712, in substantially the form shown on the attached Exhibit C (“ Series 2020 A TIF Note”), to be delivered to the City the proceeds of which will be utilized for purposes of acquiring public right of way for a round a bout at 17th Street and Claude Road. Prior to December 1, 2023, the Authority shall issue one Tax Increment Revenue Note, in one taxable series, in a maximum principal amount of $668,138, in substantially the form shown on the attached Exhibit D (“ Series 2020 B TIF Note”), for net funds available to be purchased by Redeveloper (“TIF Note Purchaser”), in a written form acceptable to the Authority’s attorney, and receive Note proceeds from the TIF Note Purchaser in said amount. At the option of the redeveloper, the Authority shall make a grant to Redeveloper in such amount, and such grant shall offset TIF Note Purchaser’s obligation to purchase the TIF Note. Subject to the terms of this Agreement and the Resolution, the Authority’s Treasurer on behalf of the Authority shall have the authority to determine the timing of issuing the Indebtedness and all the other necessary details of the Indebtedness. The Redeveloper agrees to purchase the Series 2020 B TIF Note at a price equal to the principal amount thereof, in a private placement satisfactory to the Authority as to its terms and participants (including any pledgee thereof). Neither the Authority nor the City shall have any obligation to provide for the sale of the Indebtedness. It is the sole responsibility of the Redeveloper to effect the sale of the Series 2020 B TIF Note by purchasing the Indebtedness in accordance with the terms of this Redevelopment Contract and the Resolution. Redeveloper acknowledges that it is its understanding and the Authority's understanding that interest on the Indebtedness will be includable in gross income for federal income tax purposes and subject to Nebraska State income taxation. Section 3.03 Pledge of Revenues. Under the terms of the Resolution, the Authority pledges 100% of the available annual TIF Revenues derived from the Redevelopment Project Property as security for and to provide payment of the Indebtedness as the same fall due (including payment of any mandatory redemption amounts set for the Indebtedness in accordance with the terms of the Resolution). The annual TIF Revenues shall be allocated 25% to the Series 2023 A TIF Note and 75% to the Series 2023 B TIF Note equally and ratably. Section 3.04 Purchase and Pledge of Indebtedness/Grant of Net Proceeds of Indebtedness. The Redeveloper has agreed to purchase the 2023 B TIF Note from the Authority for a price equal to the principal amount thereof, payable as provided in Section 3.02 and this Section 3.04. In accordance with the terms of the Redevelopment Plan the Redeveloper is to receive one or more grants to pay the costs for reimbursement of site acquisition, including easements, site preparation costs and those items as described on Exhibit D (the "Project Costs"), in the aggregate maximum amount not to exceed $668,138. Page 34 of 245 CRA Area 34 3650 LLC Alltel Contract Page 8 Notwithstanding the foregoing, the aggregate amount of the 2023 B TIF Note and the grant shall not exceed the amount of Project Costs as certified pursuant to Section 4.02 of this Redevelopment Contract. Such grants shall be made to the Redeveloper upon certification of Project Costs for as set forth herein and in the Resolution, and payment purchase of the Indebtedness as provided in Section 3.02, unless Redeveloper elects to offset the payment of the purchase of the Indebtedness with the grant proceeds as provided herein and in the Resolution. The Authority shall have no obligation to provide grant funds from any source other than as set forth in the Resolution and this Redevelopment Contract. Section 3.05 Creation of Fund. In the Resolution, the Authority has provided for the creation of the “3650 Redevelopment Project Note Fund” (the “2023 A TIF Note Fund”). The TIF Revenues allocated to the payment of the 2023 A TIF Note shall be deposited into the 2023 A TIF Note Fund. The TIF Revenues accumulated in the 2023 A TIF Note Fund shall be used and applied on the Business Day prior to each Interest Payment Date to make any payments to pay principal of or interest on the 2023 A TIF Note to the extent of any money then remaining the 2023 A TIF Note Fund on such Interest Payment Date. Money in the 2023 A TIF Note Fund shall be used solely for the purposes described herein and in the Resolution. All Revenues received through and including December 31, 2041, shall be used solely for the payments required herein and by the Resolution. In the Resolution, the Authority has provided for the creation of the “3650 Redevelopment Project Note Fund” (the “2023 B TIF Note Fund”). The TIF Revenues allocated to the payment of the 2023 B TIF Note shall be deposited into the 2023 B TIF Note Fund. The TIF Revenues accumulated in the 2023 B TIF Note Fund shall be used and applied on the Business Day prior to each Interest Payment Date to make any payments to pay principal of or interest on the 2023 B TIF Note to the extent of any money then remaining the 2023 B TIF Note Fund on such Interest Payment Date. Money in the 2023 B TIF Note Fund shall be used solely for the purposes described herein and in the Resolution. All Revenues received through and including December 31, 2041, shall be used solely for the payments required herein and by the Resolution. ARTICLE IV OBLIGATIONS OF REDEVELOPER Section 4.01 Construction of Project; Note; Insurance. Redeveloper shall rehabilitate the Project Site in accordance with the plans and specifications provided to the Authority prior to December 31, 2025. Redeveloper shall use the proceeds of the grant(s) provided in Section 3.04 hereof for payment of public infrastructure and other allowed expenditures set forth on Exhibit D. Redeveloper shall be solely responsible for obtaining all permits and approvals necessary to acquire, construct and equip the Project. Until construction of the Project has been completed, Redeveloper shall make reports in such detail and at such times as may be reasonably requested by the Authority as to the actual progress of Redeveloper with respect to construction of the Project. Such reports shall include actual expenditures incurred as described on Exhibit D. Any general contractor chosen by the Redeveloper shall be required to obtain and keep in Page 35 of 245 CRA Area 34 3650 LLC Alltel Contract Page 9 force at all times until completion of construction for all phases of construction for both infrastructure and residential development, policies of insurance including coverage for contractors' general liability and completed operations and a penal bond or bonds as required by the Act or as is otherwise required by law. The City, the Authority and the Redeveloper shall be named as additional insureds. Any contractor chosen by the Redeveloper or the Redeveloper itself, as owner, shall be required to purchase and maintain property insurance upon the Project to the full insurable value thereof. This insurance shall insure against the perils of fire and extended coverage and shall include 'All Risk" insurance for physical loss or damage. The contractor with respect to any specific contract or the Redeveloper shall also carry insurance on all stored materials. The contractor or the Redeveloper, as the case may be, shall furnish the Authority and the City with a Certificate of Insurance evidencing policies as required above. Such certificates shall state that the insurance companies shall give the Authority prior written notice in the event of cancellation of or material change in any of any of the policies. Section 4.02 Cost Certification & Disbursement of Note Proceeds. Proceeds of the Series 2023 B TIF Note may be advanced and disbursed in the manner set forth below: (a)There shall be submitted to the Authority a grant disbursement request (the “Disbursement Request”), executed by the City’s Finance Director and an authorized representative of the Redeveloper, (i) certifying that a portion of the Project has been substantially completed and (ii) certifying the actual costs incurred by the Redeveloper in the completion of such portion of the Project. TIF eligible costs shall be allocated to the Series 2023 B TIF Note. (b)If the costs requested for reimbursement under the Disbursement Request are currently reimbursable under Exhibit D of this Redevelopment Contract and the Community Redevelopment Law, the Authority shall evidence such allocation in writing and inform the owner of the Series 2023 B Note of any amounts allocated to such Note. Section 4.03 No Discrimination. Redeveloper agrees and covenants for itself its successors and assigns that it will not discriminate against any person or group of persons on account of race, sex, color, religion, national origin, ancestry, disability, marital status or receipt of public assistance in connection with the Project. Redeveloper, for itself and its successors and assigns, agrees that during the construction of the Project, Redeveloper will not discriminate against any employee or applicant for employment because of race, religion, sex, color, national origin, ancestry, disability, marital status or receipt of public assistance. Redeveloper will comply with all applicable federal, state and local laws related to the Project. Section 4.04 Assignment or Conveyance. This Redevelopment Contract shall not be assigned by the Redeveloper without the written consent of the Authority. Such consent shall not be unreasonably withheld. Redeveloper agrees Page 36 of 245 CRA Area 34 3650 LLC Alltel Contract Page 10 that it shall not convey any Lot or any portion thereof or any structures thereon to any person or entity that would be exempt from payment of real estate taxes, and that it will not make application for any structure, or any portion thereof, to be taxed separately from the underlying land of any Lot. Section 4.05 Additional Requirements. Redeveloper shall retain copies of all supporting documents that are associated with the redevelopment plan or redevelopment project and that are received or generated by the redeveloper for three years following the end of the last fiscal year in which ad valorem taxes are divided and provide such copies to the city as needed to comply with the city’s retention requirements under section 18- 2117.04 of the Act. Supporting document includes any cost-benefit analysis conducted pursuant to section 18-2113 of the Act and any invoice, receipt, claim, or contract received or generated by the redeveloper that provides support for receipts or payments associated with the division of taxes. Section 4.06 Payment of Costs. The Redeveloper shall pay to the Authority or its designee the following sums on the execution hereof: $3,000 for administrative and accounting costs. $6,500 for legal fees. ARTICLE V FINANCING REDEVELOPMENT PROJECT; ENCUMBRANCES Section 5.01 Financing Redeveloper shall pay all costs related to the redevelopment of the Redevelopment Project Area and the Redevelopment Project Property which are in excess of the amounts paid from the proceeds of the grant provided from the proceeds of the Indebtedness and granted to Redeveloper. Redeveloper shall timely pay all costs, expenses, fees, charges and other amounts associated with the Project. ARTICLE VI DEFAULT, REMEDIES; INDEMNIFICATION Section 6.01 General Remedies of Authority and Redeveloper. Subject to the further provisions of this Article VI, in the event of any failure to perform or breach of this Redevelopment Contract or any of its terms or conditions, by any party hereto or any successor to such party, such party, or successor, shall, upon written notice from the other, proceed immediately to commence such actions as may be reasonably designed to cure or remedy such failure to perform or breach which cure or remedy shall be accomplished within a Page 37 of 245 CRA Area 34 3650 LLC Alltel Contract Page 11 reasonable time by the diligent pursuit of corrective action. In case such action is not taken, or diligently pursued, or the failure to perform or breach shall not be cured or remedied within a reasonable time, this Redevelopment Contract shall be in default and the aggrieved party may institute such proceedings as may be necessary or desirable to enforce its rights under this Redevelopment Contract, including, but not limited to, proceedings to compel specific performance by the party failing to perform or in breach of its obligations. The Redeveloper hereby acknowledges and agrees that the Authority shall have completed its required performances and satisfied all of its obligations under this Redevelopment Contract upon the issuance of the Indebtedness and the subsequent payment of grant amounts to the Redeveloper as set forth in Article III hereof and by complying with the obligations of all Redevelopment Contract Amendments. Section 6.02 Additional Remedies of Authority In the event that (each such event an "event of default"): (a)the Redeveloper, or its successor in interest, shall fail to commence the construction of the improvements included in the Project Costs on or before March 1, 2024 or shall abandon construction work related to the Project Costs, once commenced, for any period of 180 days, excepting delays caused by inclement weather, (b)the Redeveloper, shall fail to pay real estate taxes or assessments on the Redevelopment Project Property owned by the Redeveloper or any part thereof when due; and (c)there is a violation of any other provision of this Redevelopment Contract, and such failure or action by the Redeveloper has not been cured within 45 days following written notice from Authority, then the Redeveloper shall be in default of this Redevelopment Contract. In the event of such failure to perform, breach or default occurs and is not cured in the period herein provided, the parties agree that the damages caused to the Authority would be difficult to determine with certainty and that a reasonable estimation of the amount of damages that could be incurred is the amount of the grant to Redeveloper pursuant to Section 3.04 of this Redevelopment Contract, less any reductions in the principal amount of the Indebtedness, plus interest on such amounts as provided herein (the "Liquidated Damages Amount"). Upon the occurrence of an event of default, the Liquidated Damages Amount shall be paid by Redeveloper to Authority within 30 days of demand from Authority given to the Redeveloper. Interest shall accrue on the Liquidated Damages Amount at the rate of nine percent (9.0%) per annum and interest shall commence from the date that the Authority gives notice to the Redeveloper demanding payment. Page 38 of 245 CRA Area 34 3650 LLC Alltel Contract Page 12 Payment of the Liquidated Damages Amount shall not relieve Redeveloper of its obligation to pay real estate taxes or assessments with respect to the Redevelopment Project Property and the Project. Redeveloper, on or before contracting for work included within the Project Costs, shall furnish to the Authority copies of labor and materials payment bonds and performance bonds for each contract entered into by Redeveloper related to Project Costs. Each such bond shall show the Authority and the City as well as the Redeveloper as beneficiary of any such bond, as and to the extent commercially obtainable (as determined in the discretion of the Authority). In addition, the Redeveloper shall provide a penal bond with good and sufficient surety to be approved by the Authority, conditioned that the Redeveloper shall at all times promptly make payments of all amounts lawfully due to all persons supplying or furnishing to any contractor or his or her subcontractors (for each contract entered into by Redeveloper related to Project Costs) with labor or materials performed or used in the prosecution of the work provided for in such contract, and will indemnify and save harmless the Authority to the extent of any payments in connection with the carrying out of such contracts which the Authority may be required to make under the law. Section 6.03 Remedies in the Event of Other Redeveloper Defaults. In the event the Redeveloper fails to perform any other provisions of this Redevelopment Contract (other than those specific provisions contained in Section 6.02), the Redeveloper shall be in default. In such an instance, the Authority may seek to enforce the terms of this Redevelopment Contract or exercise any other remedies that may be provided in this Redevelopment Contract or by applicable law; provided, however, that any defaults covered by this Section shall not give rise to a right or rescission on termination of this Redevelopment Contract, and shall not be covered by the Liquidated Damages Amount. Section 6.04 Forced Delay Beyond Party's Control. For the purposes of any of the provisions of this Redevelopment Contract, neither the Authority nor the Redeveloper, as the case may be, nor any successor in interest, shall be considered in breach of or default in its obligations with respect to the conveyance or preparation of the Redevelopment Area or any part thereof for redevelopment, or the beginning and completion of construction of the Project, or progress in respect thereto, in the event of forced delay in the performance of such obligations due to unforeseeable causes beyond its control and without its fault or negligence, including, but not restricted to, acts of God, or of the public enemy, acts of the Government, acts of the other party, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes, and unusually severe weather or delays in subcontractors due to such causes; it being the purpose and intent of this provision that in the event of the occurrence of any such forced delay, the time or times for performance of the obligations of the Authority or of the Redeveloper with respect to construction of the Project, as the case may be, shall be extended for the period of the forced delay: Provided, that the party seeking the benefit of the provisions of this section shall, within thirty (30) days after the beginning of any such forced delay, have first notified the other party thereto in writing, and of the cause or causes thereof and requested an extension for the period of the forced delay. Page 39 of 245 CRA Area 34 3650 LLC Alltel Contract Page 13 Section 6.05 Limitations of Liability; Indemnification. Notwithstanding anything in this Article VI or this Redevelopment Contract to the contrary, neither the City, the Authority, nor their respective elected officials, officers, directors, appointed officials, employees, agents or their governing bodies shall have any pecuniary obligation or monetary liability under this Redevelopment Contract. The sole obligation of the Authority under this Redevelopment Contract shall be the issuance of the Indebtedness and granting of a portion of the proceeds thereof to Redeveloper, and full compliance with the terms specifically set forth Article III hereof and payment of TIF Revenues pledged pursuant to the Resolution. The Redeveloper releases the City and Authority from, agrees that neither the City nor Authority shall be liable for, and agrees to indemnify and hold the City and Authority harmless from any liability for any loss or damage to property or any injury to or death of any person that may be occasioned by any cause whatsoever pertaining to the Project. The Redeveloper will indemnify and hold each of the City and Authority and their respective elected officials, directors, officers, appointed officials, agents, employees and members of their governing bodies free and harmless from any loss, claim, damage, demand, tax, penalty, liability, disbursement, expense, excluding litigation expenses, attorneys' fees and expenses, or court costs arising out of any damage or injury, actual or claimed, of whatsoever kind or character, to property (including loss of use thereof) or persons, occurring or allegedly occurring in, on or about that portion of the Project owned by the Redeveloper, during the term of this Redevelopment Contract or arising out of any action or inaction of Redeveloper, related to activities of the Redeveloper or its agents during the construction of the public infrastructure or public right of ways in the Project. ARTICLE VII MISCELLANEOUS Section 7.01 Notice Recording This Redevelopment Contract or a notice memorandum of this Redevelopment Contract may be recorded in the office of the Register of Deeds of Hall County, Nebraska. Section 7.02 Governing Law. This Redevelopment Contract shall be governed by the laws of the State of Nebraska, including but not limited to the Act. Section 7.03 Binding Effect: Amendment, Assignment. This Redevelopment Contract shall be binding on the parties hereto and their respective successors and assigns. The Redevelopment Contract shall not be amended except by a writing signed by the party to be bound. The Redeveloper may assign its rights and obligations to a controlled entity which shall be bound by all the terms hereof. Page 40 of 245 CRA Area 34 3650 LLC Alltel Contract Page 14 Section 7.04 Effective Date and Implementation of Redevelopment Contract. This Agreement is in full force and effect from and after the date of execution hereof by both the Redeveloper and the Authority. Section 7.04 Notices to Parties. Notices to Parties shall be mailed by U. S. Mail to the following addresses: Redeveloper: 3650, LLC 429 Industrial Lane Grand Island, NE 68803 Authority and City: Director Grand Island Community Redevelopment Authority Hall County Regional Planning Department 100 E 1st Street P.O. Box 1968 Grand Island, NE 68802 IN WITNESS WHEREOF, Authority and Redeveloper have signed this Redevelopment Contract as of the date and year first above written. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF ATTEST: GRAND ISLAND, NEBRASKA By: Secretary Chairman Page 41 of 245 CRA Area 34 3650 LLC Alltel Contract Page 15 STATE OF NEBRASKA ) ) SS COUNTY OF HALL ) The foregoing instrument was acknowledged before me this day of ______2023, by and , Chairman and Secretary, respectively, of the Community Redevelopment Authority of the City of Grand Island, Nebraska, on behalf of the Authority. ___________________________ Notary Public Page 42 of 245 CRA Area 34 3650 LLC Alltel Contract Page 16 3650, LLC By:_ Manager STATE OF NEBRASKA) ) SS COUNTY OF HALL ) The foregoing instrument was acknowledged before me this day of ,2023, by , Manager of 3650, LLC, on behalf of the limited liability company. _______________________________ Notary Public Page 43 of 245 CRA Area 34 3650 LLC Alltel Contract Page 17 EXHIBIT A DESCRIPTION OF REDEVELOPMENT AREA Lot 2, 281 Retail subdivision to the city of Grand Island, Hall County, Nebraska. Page 44 of 245 CRA Area 34 3650 LLC Alltel Contract Page 18 EXHIBIT B REDEVELOPMENT PLAN [Attach copy of Redevelopment Plan] Page 45 of 245 CRA Area 34 3650 LLC Alltel Contract Page 19 EXHIBIT C UNITED STATES OF AMERICA STATE OF NEBRASKA COUNTY OF HALL TAX INCREMENT DEVELOPMENT REVENUE NOTE OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA (3650 REDEVELOPMENT PROJECT), SERIES 2023 A Principal Amount Interest Rate Per Annum Final Maturity Date $222,712 7.5%December 31, 2041 KNOW ALL PERSONS BY THESE PRESENTS: That the Community Redevelopment Authority of the City of Grand Island, Nebraska, hereby acknowledges itself to owe and for value received promises to pay, but only from the sources herein designated, to the registered owner designated on the reverse hereof, or registered assigns, the principal sum shown above in lawful money of the United States of America with such principal sum to become due on the maturity date set forth above, with interest on the unpaid balance from date of delivery hereof until maturity or earlier redemption at the rate of Seven percent (7.5%) per annum, subject to limitation as set forth in the authorizing resolution. Said interest shall be payable semiannually on June 1 and December 1 of each year commencing on June 1, 2026. The payment of principal and interest due upon the final maturity is payable upon presentation and surrender of this note to the Treasurer of said Authority, as Paying Agent and Registrar for said Authority, at the offices of the Community Redevelopment Authority of the City of Grand Island at City Hall, in Grand Island, Nebraska. The payments of interest and of mandatory redemption of principal on each interest payment date (other than at final payment) will be paid when due by a check or draft mailed by said Paying Agent and Registrar to the registered owner of this note, as shown on the books or record maintained by the Paying Agent and Registrar, at the close of business on the last business day of the calendar month immediately preceding the calendar month in which the interest payment date occurs, to such owner's address as shown on such books and records. Any payment of interest or mandatory redemption of principal not timely paid when due shall cease to be payable to the person entitled thereto as of the Record Date such interest was payable, and shall be payable to the person who is the registered owner of this note on such special record date for payment of such defaulted interest or redemption price as shall be fixed by the Paying Agent and Registrar whenever monies for such purpose become available. The Authority, however, reserves the right and option of prepaying principal of this note, in whole or in part, from any available sources at any time at the principal amount thereof plus accrued interest to the date fixed for redemption. Notice of any such optional prepayment shall be given by mail, sent to the registered owner of this note at said registered owner's address in the manner provided in the resolution authorizing said note. The principal of this note shall be Page 46 of 245 Page 20 subject to mandatory redemptions made in part on any interest payment date from “Available Funds" (as defined in the resolution authorizing the issuance of this note) without any requirement for notice. Such optional and mandatory prepayments shall be made upon such terms and conditions as are provided for in the resolution authorizing this note. This Note is a special limited obligation of the Authority payable as to principal and interest solely from and is secured solely by the Revenue (as defined in the Resolution LIMITED TO 25% OF TIF REVENUES) and certain other money, funds and securities pledged under the Resolution, all on the terms and conditions set forth in the Resolution. The Revenue represents that portion of ad valorem taxes levied by public bodies of the State of Nebraska, including the City, on real property in the Project Area (as defined in this Resolution) which is in excess of that portion of such ad valorem taxes produced by the levy at the rate fixed each year by or for each such public body upon the valuation of the Project Area as of a certain date and as has been certified by the County Assessor of Hall County, Nebraska to the City in accordance with law. This note is a single note in the total principal amount of $222,712 issued by the Authority for the purpose of paying the costs of redevelopment of certain real estate located in the City of Grand Island, as designated in that redevelopment contract containing a redevelopment plan recommended by the Authority and approved by the Mayor and Council of the City of Grand Island, Nebraska, on ______________ 2023, (the “Plan”), all in compliance with Article 21 of Chapter 18, Reissue Revised Statutes of Nebraska, 2012, as amended, and has been duly authorized by resolution passed and approved by the Chair and Members of the Authority (the "Resolution"). This note constitutes a limited obligation of the Authority payable exclusively from that portion of the ad valorem real estate taxes mentioned in subdivision 1 (b) of Section 18-2147, R.R.S. Neb. 2012, as levied, collected and apportioned from year to year with respect to certain real estate located within the "Project Area" (as defined in the Resolution). Pursuant to the Resolution and Section l8-2150, R.R.S. Neb. 2012, said portion of taxes has been pledged for the payment of this note, both principal and interest as the same fall due or become subject to mandatory redemption. This note shall not constitute a general obligation of the Authority and the Authority shall be liable for the payment thereof only out of said portion of taxes as described in this paragraph. This note shall not constitute an obligation of the State of Nebraska or of the City or Grand Island (except for such receipts as have been pledged pursuant to Section 18-2150 R.R.S. Neb. 2012) and neither the State or Nebraska nor the City of Grand Island shall be liable for the payment thereof from any fund or source including but not limited to tax monies belonging to either thereof (except for such receipts as have been pledged pursuant to Section 18-2150 R.R.S. Neb. 2012). Neither the members of the Authority's governing body nor any person executing this note shall be liable personally on this note by reason of the issuance hereof. The resolution authorizing said issue designates the terms upon which additional notes payable from said taxes may be issued in the future. This note is transferable by the registered owner or such owner's attorney duly authorized in writing at the office of the Paying Agent and Registrar upon surrender of this note for notation of transfer as provided on the reverse hereof and subject to the conditions provided for in the resolution authorizing the issuance of this note. The Authority, the Paying Agent and Registrar and any other person may treat the person whose name this note is registered as the absolute owner hereof for the purposes of receiving payment due hereunder and for all purposes and shall Page 47 of 245 Page 21 not be affected by any notice to the contrary, whether this note be overdue or not. THIS BOND, UNDER CERTAIN TERMS SET FORTH IN THE RESOLUTION AUTHORIZING ITS ISSUANCE, MAY ONLY BE TRANSFERRED TO PERSONS OR ENTITIES DELIVERING AN INVESTMENT LETTER TO THE PAYING AGENT AND REGISTRAR CONFORMING TO REQUIREMENTS SET FORTH IN SAID RESOLUTION. If the day for payment of the principal of or interest on this note shall be a Saturday, Sunday, legal holiday or a day on which banking institutions in the City of Grand Island, Nebraska, are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday or a day on which such banking institutions are authorized to close, and payment on such date shall have the same force and effect as if made on the nominal date of payment. IT IS HEREBY CERITFIED AND WARRANTED that all conditions, acts and things required by law to exist or to be done precedent to and in the issuance of this note, did exist, did happen and were done and performed in regular and due form and time as required by law and that the indebtedness of said Authority, including this note, does not exceed any limitation imposed by law. IN WITNESS WHEREOF, Community Redevelopment Authority of the City of Grand Island have caused this note to be executed on behalf of said Authority by being signed by the Chair and City Clerk and by causing the official seal of said Authority to be affixed hereto, all as of the date of issue shown above. Delivered this th day of , 2023. : ATTEST: (SEAL) COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY GRAND ISLAND, NEBRASKA By: _ (do not sign) Chair (do not sign) City Clerk Page 48 of 245 Page 22 Date of Registration Name of Registered Owner Signature of Paying Agent and Registrar _____________________ __________________________ _____________________ _____________________ __________________________ _____________________ PROVISION FOR REGISTRATION The ownership of this Note shall be registered as to both principal and interest on the books and records of the Community Redevelopment Authority of the City of Grand Island, Nebraska, kept by the Paying Agent and Registrar identified in the foregoing note, who shall make notation of such registration in the registration blank below, and the transfer of this Note may thereafter be registered only upon an assignment duly executed by the registered owner or such owner’s attorney or legal representative, in such form as shall be satisfactory to said Paying Agent and Registrar, such registration of transfer to be made on such books and endorsed hereon by said Paying Agent and Registrar Date of Registration Name of Registered Owner Signature of Paying Agentand Registrar Page 49 of 245 Page 23 EXHIBIT D (FORM OF NOTE) UNITED STATES OF AMERICA STATE OF NEBRASKA COUNTY OF HALL COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA TAX INCREMENT DEVELOPMENT REVENUE NOTE (3650 REDEVELOPMENT PROJECT), SERIES 2023 B No. R-1 Up to $668,138 (subject to reduction as described herein) Date of Original Issue Date of Maturity Rate of Interes t December 31, 2041 7.5% REGISTERED OWNER: 3650, LLC PRINCIPAL AMOUNT: SEE SCHEDULE 1 ATTACHED HERETO REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE NOTE SET FORTH ON THE FOLLOWING PAGES, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. IN WITNESS WHEREOF, THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA has caused this Note to be signed by the manual signature of the Chairman of the Authority, countersigned by the manual signature of the Clerk of the City, and the City’s corporate seal imprinted hereon. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA [S E A L]By: (manual signature) Chairman Page 50 of 245 Page 24 By: (manual signature) Clerk The COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA (the “Authority”) acknowledges itself indebted to, and for value received hereby promises to pay, but solely from certain specified tax revenues and other funds hereinafter specified, to the Registered Owner named above, or registered assigns, on the Date of Maturity stated above (or earlier as hereinafter referred to), the Principal Amount on Schedule 1 attached hereto upon presentation and surrender hereof at the office of the registrar and paying agent herefor, the Treasurer of the City of Grand Island, Nebraska (the “Registrar”), and in like manner to pay interest on the Cumulative Outstanding Principal Amount reflected in Schedule 1 at the Rate of Interest stated above, calculated on the basis of a 360-day year consisting of twelve, 30- day months, from the Date of Original Issue stated above, or the most recent interest payment date to which interest has been paid or duly provided for, as specified below, to maturity or earlier redemption, payable semiannually on June 1 and December 1 of each year until payment in full of such Principal Amount, beginning June 1, 2026, by check or draft mailed to the Registered Owner hereof as shown on the note registration books maintained by the Registrar on the 15th day of the month preceding the month in which the applicable interest payment date occurs, at such Owner’s address as it appears on such note registration books. The principal of this Note and the interest hereon are payable in any coin or currency which on the respective dates of payment thereof is legal tender for the payment of debts due the United States of America. This Note is issued by the Authority under the authority of and in full compliance with the Constitution and statutes of the State of Nebraska, including particularly Article VIII, Section 12 of the Nebraska Constitution, Sections 18-2101 to 18-2157, inclusive, Reissue Revised Statutes of Nebraska, as amended, and under and pursuant to Resolution No. duly passed and adopted by the Authority on _______, 2023, as from time to time amended and supplemented (the “Resolution”). THE PRINCIPAL AMOUNT OF THIS NOTE IS SET FORTH IN SCHEDULE 1 ATTACHED HERETO. THE MAXIMUM PRINCIPAL AMOUNT OF THIS NOTE IS $668,138. This Note is a special limited obligation of the Authority payable as to principal and interest solely from and is secured solely by the Revenue (as defined in the Resolution LIMITED TO 75% OF TIF REVENUES) and certain other money, funds and securities pledged under the Resolution, all on the terms and conditions set forth in the Resolution. The Revenue represents that portion of ad valorem taxes levied by public bodies of the State of Nebraska, including the City, on real property in the Project Area (as defined in this Resolution) which is in excess of that portion of such ad valorem taxes produced by the levy at the rate fixed each year by or for each such public body upon the valuation of the Project Area as of a certain date and as has been certified by the County Assessor of Hall County, Nebraska to the City in accordance with law. Reference is hereby made to the Resolution for the provisions, among others, with respect to the collection and disposition of certain tax and other revenues, the special funds charged with and pledged to the payment of the principal of and interest on this Note, the nature and extent of the security thereby created, the terms and conditions under which this Note has been issued, the rights Page 51 of 245 Page 25 and remedies of the Registered Owner of this Note, and the rights, duties, immunities and obligations of the City and the Authority. By the acceptance of this Note, the Registered Owner assents to all of the provisions of the Resolution. The principal of and interest hereon shall not be payable from the general funds of the City nor the Authority nor shall this Note constitute a legal or equitable pledge, charge, lien, security interest or encumbrance upon any of the property or upon any of the income, receipts, or money and securities of the City or the Authority or of any other party other than those specifically pledged under the Resolution. This Note is not a debt of the City or the Authority within the meaning of any constitutional, statutory or charter limitation upon the creation of general obligation indebtedness of the City or the Authority, and does not impose any general liability upon the City or the Authority and neither the City nor the Authority shall be liable for the payment hereof out of any funds of the City or the Authority other than the Revenues and other funds pledged under the Resolution, which Revenues and other funds have been and hereby are pledged to the punctual payment of the principal of and interest on this Note in accordance with the provisions of this Resolution. The Registered Owner may from time to time enter the respective amounts advanced pursuant to the terms of the Resolution under the column headed “Principal Amount Advanced” on Schedule 1 hereto (the “Table”) and may enter the aggregate principal amount of this Note then outstanding under the column headed “Cumulative Outstanding Principal Amount” on the Table. On each date upon which a portion of the Cumulative Outstanding Principal Amount is paid to the Registered Owner pursuant to the redemption provisions of the Resolution, the Registered Owner may enter the principal amount paid on this Note under the column headed “Principal Amount Redeemed” on the Table and may enter the then outstanding principal amount of this Note under the column headed “Cumulative Outstanding Principal Amount” on the Table. Notwithstanding the foregoing, the records maintained by the Trustee as to the principal amount issued and principal amounts paid on this Note shall be the official records of the Cumulative Outstanding Principal Amount of this Note for all purposes. Reference is hereby made to the Resolution, a copy of which is on file in the office of the City Clerk, and to all of the provisions of which each Owner of this Note by its acceptance hereof hereby assents, for definitions of terms; the description of and the nature and extent of the security for this Note; the Revenue and other money and securities pledged to the payment of the principal of and interest on this Note; the nature and extent and manner of enforcement of the pledge; the conditions upon which the Resolution may be amended or supplemented with or without the consent of the Owner of this Note; the rights, duties and obligations of the Authority and the Registrar thereunder; the terms and provisions upon which the liens, pledges, charges, trusts and covenants made therein may be discharged at or prior to the maturity or redemption of this Note, and this Note thereafter no longer be secured by the Resolution or be deemed to be outstanding thereunder, if money or certain specified securities shall have been deposited with the Registrar sufficient and held in trust solely for the payment hereof; and for the other terms and provisions thereof. This Note is subject to redemption prior to maturity, at the option of the Authority, in whole or in part at any time at a redemption price equal to 100% of the principal amount being redeemed, plus accrued interest on such principal amount to the date fixed for redemption. Reference is hereby made to the Resolution for a description of the redemption procedures and the notice requirements pertaining thereto. Page 52 of 245 Page 26 In the event this Note is called for prior redemption, notice of such redemption shall be given by first- class mail to the Registered Owner hereof at its address as shown on the registration books maintained by the Registrar not less than 10 days prior to the date fixed for redemption, unless waived by the Registered Owner hereof. If this Note, or any portion thereof, shall have been duly called for redemption and notice of such redemption duly given as provided, then upon such redemption date the portion of this Note so redeemed shall become due and payable and if money for the payment of the portion of the Note so redeemed and the accrued interest thereon to the date fixed for redemption shall be held for the purpose of such payment by the Registrar, interest shall cease to accrue and become payable hereon from and after the redemption date. This Note is transferable by the Registered Owner hereof in person or by its attorney or legal representative duly authorized in writing at the principal office of the Registrar, but only in the manner, subject to the limitations and upon payment of the charges provided in the Resolution, and upon surrender and cancellation of this Note. Upon such transfer, a new Note of the same series and maturity and for the same principal amount will be issued to the transferee in exchange therefor. The Authority and the Registrar may deem and treat the Registered Owner hereof as the absolute owner hereof for the purpose of receiving payment of or on account of principal of and interest due hereon and for all other purposes. This note is being issued as a registered note without coupons. This note is subject to exchange as provided in the Resolution. It is hereby certified, recited and declared that all acts, conditions and things required to have happened, to exist and to have been performed precedent to and in the issuance of this Note have happened, do exist and have been performed in regular and due time, form and manner; that this Note does not exceed any constitutional, statutory or charter limitation on indebtedness; and that provision has been made for the payment of the principal of and interest on this Note as provided in this Resolution. [The remainder of this page intentionally left blank] Page 53 of 245 Page 27 (FORM OF ASSIGNMENT) ASSIGNMENT FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto Print or Type Name, Address and Social Security Number or other Taxpayer Identification Number of Transferee the within note and all rights thereunder, and hereby irrevocably constitutes and appoints agent to transfer the within Note on the note register kept by the Registrar for the registration thereof, with full power of substitution in the premises. Dated: NOTICE: The signature to this Assignment must correspond with the name of the Registered Owner as it appears upon the face of the within note in every particular. Signature Guaranteed By: Name of Eligible Guarantor Institution as defined by SEC Rule 17 Ad-15 (17 CFR 240.17 Ad-15) By: Title: Page 54 of 245 Page 28 [The remainder of this page intentionally left blank] SCHEDULE 1 TABLE OF CUMULATIVE OUTSTANDING PRINCIPAL AMOUNT COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA 3650 REDEVELOPMENT PROJECT TAX INCREMENT DEVELOPMENT REVENUE NOTE, SERIES 2023 B Date Principal Amount Advanced Principal Amount Redeemed Cumulativ e Outstandin g PrincipalAmount Notatio n Mad e By Page 55 of 245 Page 29 Exhibit D Project Costs Eligible Costs to be reimbursed from 2023 B note Eligible Costs to be reimbursed from Tax Increment Revenue Note in column under heading TIF Funds Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $764,850 $764,850 Building Costs $1,874,790 $1,874,790 Utilities $260,360 $260,360 Public Streets (A Note only) $222,712 $210,000 Demolition $89,000 $89,000 Planning (Arch. & Eng.)$22,000 $13,000 $35,000 Legal/ TIF contract $15,000 $15,000 Developer Fees $231,000 $231,000 Contingency $51,000 $51,000 Total $890,850 $2,652,862 $3,543,712 Costs may vary between categories. A shift of costs per category is contemplated and approved not to exceed the total. Page 56 of 245 Redevelopment Plan Grand Island CRA Area 34 September 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 THE ALLTEL BUILDING AT 3560 W. 13TH STREET FOR COMMERICIAL PURPOSES. The use of Tax Increment Financing to aid in renovation of the former Alltel building at 3560 W. 13th Street. The use of Tax Increment Financing is an integral part of the development plan and necessary to make this project affordable. This property has sat vacant for several years and was acquired by the 3650 LLC a subsidiary of the Starostka Group in June of 2023. 3650 LLC has purchased this property for the purpose of renovating it for commercial uses and returning it to productive use in the neighborhood. This project is in CRA Area 34. This redevelopment project includes two components. The first component supports the private project. The second component will support the construction of Claude Road between Faidley Avenue and State Street (the “Public Project”). The CRA will issue two TIF Notes. Seventy five percent of the TIF Revenue will be allocated to the TIF Note purchased by the Redeveloper. Twenty Five percent of the TIF Revenue will be allocated to the TIF Note to support the Public Project, which shall be assigned by the Redeveloper to the CRA. The CRA will enter into a contract with the City to install the Public Project. The City will be reimbursed for the Public Project by assignment of the TIF Note for the Public Project. Changes in the cost of construction, availability of materials and the approval of several other housing projects using Tax Increment Financing have led to this application for assistance with the project. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with the renovation. The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated over a 15 year period beginning in 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: Lot 2, 281 Retail Subdivision (Parcel ID No. 400295547). Page 57 of 245 Existing Land Use and Subject Property Page 58 of 245 The tax increment will be captured for the tax years the payments for which become delinquent in years 2025 through 2040 inclusive. The real property ad valorem taxes on the current valuation will continue to be paid to the normal taxing entities. The increase will come from 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. 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 September 28, 2021.[§18-2109] Such Page 59 of 245 declaration was made after a public hearing with full compliance with the public notice requirements of §18-2115 of the Act. 2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13) (a) and §18-2110] Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan amendment and project are consistent with the Comprehensive Plan, in that no changes in the Comprehensive Plan elements are intended. This plan merely provides funding for the developer to rehabilitate the 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 October 11, 2023 and passed Resolution 2024-03 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: This Redevelopment Plan for Area 34 provides for real property acquisition and this plan amendment does not prohibit such acquisition. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: The project to be implemented with this plan does not provide for the demolition and removal any structures on this property. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. All of the area around the site in private ownership is planned for low to medium density residential development. This property is in private ownership. [§18-2103(b) and §18-2111] The attached map also is an accurate site plan of the area after redevelopment. [§18-2111(5)] Page 60 of 245 City of Grand Island Future Land Use Map Page 61 of 245 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned B2 General Business Zone. The future land use map calls for highway commercial development across this entire site. It is anticipated that the City will construct Claude Road across the southwest corner of this property and along the western edge. TIF revenues from this project will offset a portion of the costs of those improvements. No changes are anticipated in building codes or other ordinances. No other planning changes contemplated. [§18-2103(b) and §18-2111] Current Zoning on the Site e. Site Coverage and Intensity of Use The B2 zoning district allows for a variety of commercial, warehousing, non-profit and residential uses. The B2 district allows a maximum ground coverage of 100%. [§18- 2103(b) and §18-2111] f. Additional Public Facilities or Utilities Sanitary sewer and water are available to support this development. Page 62 of 245 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 $764,850 as an eligible expense. The estimated costs of utilities including improvements for sewer, gas and electric is $260,360. Streets and drainage are estimated at $210,000. Demolition and rehabilitation activities of are expected to cost 1,963,790. Planning activities including engineering, architecture, legal fees and government fees are estimated at $37,000. The total of the eligible expenses for this project is estimated by the developer at $3,300,000. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. b. Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of $890,850 from the proceeds of the TIF. The project will include the project as describe in this plan and costs associated with building Claude Road between this property and State Street. The revenues shall be split with 75% dedicated to the residential subdivision project paid to the developer and 25% dedicated to Claude Road and paid to the city for those expenses. 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. Page 63 of 245 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 particular building has been a blighting influence on the area for several years while it sat unoccupied on this busy corridor. This project will also provide for the development of Claude Road and reducing congestion along Diers Avenue within the City of Grand Island. 8. Time Frame for Development Development of this project is anticipated to begin in the 2023 year. The renovations are expected to be complete in 2024. Excess valuation should be available for 15 years beginning with the 2025 tax year. 9. Justification of Project This project will renovate and rehabilitate an existing building that has been vacant on this high traffic corridor for the last several years. 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 $890,850 in public funds from tax increment financing provided by the Grand Island Community Redevelopment Authority will be Page 64 of 245 required to complete the project. This investment by the Authority will leverage $2,640,150 in private sector financing and investment; a private investment of $2.96 for every TIF dollar invested. Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $764,850 $764,850 Building Costs $1,874,790 $1,874,790 Utilities $260,360 $260,360 Public Streets $210,000 $210,000 Demolition $89,000 $89,000 Planning (Arch. & Eng.)$22,000 $13,000 $35,000 Legal/ TIF contract $15,000 $15,000 Developer Fees $231,000 $231,000 Contingency $51,000 $51,000 Total $890,850 $2,640,150 $3,531,000 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2023 valuation of approximately $762,500. Based on the 2022 levy this would result in a real property tax of approximately $16,136. It is anticipated that the assessed value will increase by $2,768,500 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $58,588 annually. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for the period of the bonds, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2024 assessed value: $ 762,500 Estimated value after completion $ 3,531,000 Increment value $ 2,768,500 Annual TIF generated (estimated) $ 58,588 TIF bond issue $ 890,850 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $762,500. The proposed redevelopment will create additional valuation of $3,531,000 by the end of the project. The project creates additional valuation, renovates a build that has been a drain on the neighborhood and surrounding area and that will support taxing entities long after the project is paid off. This development will also support and complement the construction of Claude Road on the west side of this property. The tax shift from this project will be equal to the total of the bond principal of $890,850 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; Page 65 of 245 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 not directly 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. (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 space for new businesses. (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. (e) Impacts on student populations of school districts within the City or Village: This development will not have a direct impact on the Grand Island School system (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This will renovate and rehabilitate an existing building that has been vacant for the last several year.. Twenty Five percent of the increment generated approximately $222,700 will be made available to the City of Grand Island for the development of Claude Road along the west side of property. Time Frame for Development Development of this project is anticipated to be completed by the end of 2024. The base tax year should be calculated on the value of the property as of January 1, 2025. Excess valuation should be available for this project beginning in 2025 with taxes due in 2026. 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 $890,850 the projected amount of increment based upon the anticipated value of the project and current tax rate and associated interest on the bond. Based on the estimates of the expenses of the rehabilitation the developer will spend at least $3,300,000 on TIF eligible activities. 4892-6144-9854, v. 1 Page 66 of 245 R E S O L U T I O N 2023-280 WHEREAS, on June 27, 1994, the City of Grand Island enacted Ordinance No. 8021 creating the Community Redevelopment Authority ofthe City of Grand Island, Nebraska, to address the need for economic development opportunities through the vehicles provided in the Nebraska Community Development law at Neb. Rev. Stat. §18-2101, et seq., as amended; and WHEREAS, Chief Industries Inc. has caused to be prepared a Blight and Substandard Study for an area of referred to as Area No. 39; and WHEREAS, Marvin Planning Associates completed such Blight and Substandard Study and has determined that the area should be declared as substandard or blighted area in need of redevelopment; and WHEREAS, such study was presented to the Grand Island City Council on September 12, 2023, and WHEREAS, on September 12; 2023, the Grand Island City Council referred such study to the Hall County Regional Planning Commission for review and recommendation; and WHEREAS, the Regional Planning Commission held a public hearing and made a recommendation regarding the study at its October ll, 2023 meeting; and WHEREAS, a public hearing to consider approval of a Blighted and Substandard designation was held on October 24, 2023; and WHEREAS, the Grand Island City Council finds that the property identified in the study meets the statutory qualifications to be declared Blighted and Substandard and that such designation would encourage development and redevelopment of this property. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF GRAND ISLAND, NEBRASKA, that the Blight and Substandard Study for Redevelopment Area No. 39 as identified above is hereby approved, and those areas identified in said study are declared to be blighted and substandard and in need ofredevelopment as contemplated in the Community Development law. Adopted by the City Council of the City of Grand Island, Nebraska, October 24, 2023. v c, R er G. Steele, Mayor Attest: G.. Jill ranere, Deputy City Clerk Page 67 of 245 Area 34 Alltel 3650, LLC COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 460 A RESOLUTION AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF TWO COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA, TAX INCREMENT DEVELOPMENT REVENUE NOTES OR OTHER OBLIGATION, IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $890,850 FOR THE PURPOSE OF (1) PAYING THE COSTS OF ACQUIRING, DEMOLISHING, CONSTRUCTING, RECONSTRUCTING, IMPROVING, EXTENDING, REHABILITATING, INSTALLING, EQUIPPING, FURNISHING AND COMPLETING CERTAIN IMPROVEMENTS WITHIN THE AUTHORITY’S 3650, LLC, REDEVELOPMENT PROJECT AREA, SPECIFICALLY INCLUDING SITE PURCHASE, PREPARATION, DEMOLITION, INFRASTRUCTURE IMPROVEMENTS AND (2) PAYING THE COSTS OF ISSUANCE THEREOF; PRESCRIBING THE FORM AND CERTAIN DETAILS OF THE NOTE OR OTHER OBLIGATION; PLEDGING CERTAIN TAX REVENUE AND OTHER REVENUE TO THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON THE NOTE OR OTHER OBLIGATION AS THE SAME BECOME DUE; LIMITING PAYMENT OF THE NOTE OR OTHER OBLIGATION TO SUCH TAX REVENUES; CREATING AND ESTABLISHING FUNDS AND ACCOUNTS; DELEGATING, AUTHORIZING AND DIRECTING THE FINANCE DIRECTOR TO EXERCISE HIS OR HER INDEPENDENT DISCRETION AND JUDGMENT IN DETERMINING AND FINALIZING CERTAIN TERMS AND PROVISIONS OF THE NOTE OR OTHER OBLIGATION NOT SPECIFIED HEREIN; APPROVING A REDEVELOPMENT CONTRACT AND REDEVELOPMENT PLAN; TAKING OTHER ACTIONS AND MAKING OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE FOREGOING; AND RELATED MATTERS. BE IT RESOLVED BY THE MEMBERS OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA: ARTICLE I FINDINGS AND DETERMINATIONS Section 1.1. Findings and Determinations. The Members of the Community Redevelopment Authority of the City of Grand Island, Nebraska (the “Authority”) hereby find and determine as follows: (a) The City of Grand Island, Nebraska (the “City”), pursuant to the Plan Resolution (hereinafter defined), approved the Redevelopment Plan City of Grand Island Redevelopment Area 34, September 2023 for 3650, LLC (the “Redevelopment Plan”) under and pursuant to which the Authority shall undertake from time to time to redevelop and rehabilitate the Redevelopment Area (hereinafter defined). (b) Pursuant to the Redevelopment Plan, the Authority has previously obligated itself and/or will hereafter obligate itself to provide a portion of the financing to acquire, construct, reconstruct, improve, extend, rehabilitate, install, equip, furnish and complete, at the cost and expense of the Redeveloper and City, Page 68 of 245 Area 34 Alltel 3650, LLC -2- A portion of the improvements (as defined in the Redevelopment Contract hereinafter identified) in the Redevelopment Area (the “Project Costs”), including, without limitation site acquisition of the Project Site (as defined in the Redevelopment Contract), (collectively, the “Project”), as more fully described in the Redevelopment Contract (hereinafter defined). (c) The Authority is authorized by the Redevelopment Law (hereinafter defined) to issue tax allocation notes for the purpose of paying the costs and expenses of the Project, the principal of which is payable from certain tax revenues as set forth in the Redevelopment Law. (d) In order to provide funds to pay a portion of the costs of the Project, it is necessary, desirable, advisable, and in the best interest of the Authority for the Authority to issue two Tax Increment Development Revenue Notes or other obligation in an aggregate principal amount not to exceed $890,850 (the “Notes”). The Notes shall be issued as Series 2023 A in the amount of $222,712 to be delivered to the City and Series 2023 B in the amount of $668,138 to be purchased by the Redeveloper as set forth herein. (e) All conditions, acts and things required to exist or to be done precedent to the issuance of the Notes do exist and have been done as required by law. ARTICLE II CERTAIN DEFINITIONS; COMPUTATIONS; CERTIFICATES AND OPINIONS; ORDERS AND DIRECTIONS Section 2.1. Definitions of Special Terms. Unless the context clearly indicates some other meaning or may otherwise require, and in addition to those terms defined elsewhere herein, the terms defined in this Section 2.1 shall, for all purposes of this Resolution, any Resolution or other instrument amendatory hereof or supplemental hereto, instrument or document herein or therein mentioned, have the meanings specified herein, with the following definitions to be equally applicable to both the singular and plural forms of any terms defined herein: “Authority” means the Community Redevelopment Authority of the City of Grand Island, Nebraska. City” means the City of Grand Island, Nebraska. “Project Costs” means the redevelopment project costs (as defined in the Redevelopment Contract) in the Redevelopment Area, the costs of which are eligible to be paid from the proceeds of the Note. “Assessor” means the Assessor of Hall County, Nebraska. “Note or Notes” means the 3650, LLC, Redevelopment Project Tax Increment Development Revenue Note Series 2022 of the Authority, in an aggregate principal amount not to exceed $890,850, issued pursuant to this Resolution and shall include any note, including refunding note, interim certificate, debenture, or other obligation issued pursuant to the Redevelopment Law. At the option of the Owner of the Note, the titular designation of such Note may be revised to state note, interim certificate, debenture, obligation, or such other designation as is appropriate. The Notes shall be issued as Series 2023 A in the amount of $222,712 to be delivered to the City and Series 2023 B in the amount of $668,138 to be purchased by the Redeveloper. “Secretary” means the Secretary of the Authority. Page 69 of 245 Area 34 Alltel 3650, LLC -3- “Cumulative Outstanding Principal Amount” means the aggregate principal amount of a Note issued and Outstanding from time to time in accordance with the provisions of this Resolution, as reflected in the records maintained by the Registrar as provided in this Resolution. “Date of Original Issue” means the date the Note is initially issued, which shall be the date of the first allocation of principal on the Note on the Series 2023 B as further described in Section 3.2 and shall be the date of the passage of this Resolution as to the Series 2023 A Note. “Debt Service” means, as of any particular date of computation, and with respect to any period, the amount to be paid or set aside as of such date or such period for the payment of the principal on the Note. “Escrow Obligations” means (a) Government Obligations, (b) certificates of deposit issued by a bank or trust company which are (1) fully insured by the Federal Deposit Insurance Corporation or similar corporation chartered by the United States or (2) secured by a pledge of any Government Obligations having an aggregate market value, exclusive of accrued interest, equal at least to the principal amount of the certificates so secured, which security is held in a custody account by a custodian satisfactory to the Registrar, or (c)(1) evidences of a direct ownership in future interest or principal on Government Obligations, which Government Obligations are held in a custody account by a custodian satisfactory to the Registrar pursuant to the terms of a custody agreement in form and substance acceptable to the Registrar and (2) obligations issued by any state of the United States or any political subdivision, public instrumentality or public authority of any state, which obligations are fully secured by and payable solely from Government Obligations, which Government Obligations are held pursuant to an agreement in form and substance acceptable to the Registrar and, in any such case, maturing as to principal and interest in such amounts and at such times as will insure the availability of sufficient money to make the payment secured thereby. “Finance Director” means the Treasurer/Finance Director or Acting Treasurer/Finance Director, as the case may be, of the City. “Fiscal Year” means the twelve-month period established by the City or provided by law from time to time as its fiscal year. “Government Obligations” means direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of America. “Improvements” means the improvements to be constructed, reconstructed, acquired, improved, extended, rehabilitated, installed, equipped, furnished and completed in the Project Area in accordance with the Redevelopment Plan, including, but not limited to, the improvements constituting the Project (as defined in the Redevelopment Contract). “Payment Date” means June 1 and December 1 of each year any Note is outstanding, commencing on the first Payment Date following the Date of Original Issue. “Chairman” means the Chairman of the Authority. “Outstanding” means when used with reference to any Note, as of a particular date, all Notes theretofore authenticated and delivered under this Resolution except: (a) Notes theretofore canceled by the Registrar or delivered to the Registrar for cancellation; (b) Notes which are deemed to have been paid in accordance with Section 10.1 hereof; Page 70 of 245 Area 34 Alltel 3650, LLC -4- (c) Notes alleged to have been mutilated, destroyed, lost or stolen which have been paid as provided in Section 3.9 hereof; and (d) Notes in exchange for or in lieu of which other Notes have been authenticated and delivered pursuant to this Resolution. “Owner” means the person(s) identified as the owner(s) of the Note from time to time, as indicated on the books of registry maintained by the Registrar. “Plan Resolution” means, Resolution No. ___________ of the City, together with any other resolution providing for approval of the Redevelopment Plan. “Project Area” means the area identified and referred to as the Project Site in the Redevelopment Contract. “Record Date” means, for each Payment Date, the 15th day immediately preceding such Payment Date. “Redeveloper” means the Redeveloper as defined in the Redevelopment Contract responsible for constructing, reconstructing, acquiring, improving, extending, rehabilitating, installing, equipping, furnishing and completing the Project. “Redeveloper Note” means any Note that is owned by the Redeveloper according to the records of the Registrar. “Redevelopment Contract” means the City of Grand Island Redevelopment Contract 3650, Redevelopment Project, dated the date of its execution, between the Authority, and the 3650, LLC, a Nebraska limited liability company, relating to the Project. “Redevelopment Area” means the community redevelopment area described, defined or otherwise identified or referred to in the Redevelopment Plan. “Redevelopment Law” means Article VIII, Section 12 of the Constitution of the State and Chapter 18, Article 21, Reissue Revised Statutes of Nebraska, as amended. “Redevelopment Plan” means the “Redevelopment Plan City of Grand Island Area 34, September 2023” passed, adopted and approved by the City pursuant to the Plan Resolution, and shall include any amendment of such Redevelopment Plan heretofore or hereafter made by the City pursuant to law. “Refunding Notes” means the notes authorized to be issued pursuant to Article V. “Registrar” means the Treasurer of the City of Grand Island, Nebraska, in its capacity as registrar and paying agent for the Note. “Resolution” means this Resolution as from time to time amended or supplemented. “Revenue” means the Tax Revenue. “Special Fund” means a fund by that name created in Section 7.1. “State” means the State of Nebraska. Page 71 of 245 Area 34 Alltel 3650, LLC -5- “Tax Revenue” means, with respect to the Project Area, (a) those tax revenues referred to in Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, and (b) all payments made in lieu thereof. “Treasurer” means the Treasurer of Hall County, Nebraska. Section 2.2. Definitions of General Terms. Unless the context clearly indicates otherwise or may otherwise require, in this Resolution words importing persons include firms, partnerships, associations, limited liability companies (public and private), public bodies and natural persons, and also include executors, administrators, trustees, receivers or other representatives. Unless the context clearly indicates otherwise or may otherwise require, in this Resolution the terms “herein,” “hereunder,” “hereby,” “hereto,” “hereof” and any similar terms refer to this Resolution as a whole and not to any particular section or subdivision thereof. Unless the context clearly indicates otherwise or may otherwise require, in this Resolution: (a) references to Articles, Sections and other subdivisions, whether by number or letter or otherwise, are to the respective or corresponding Articles, Sections or subdivisions of this Resolution as such Articles, Sections, or subdivisions may be amended or supplemented from time to time; and (b) the word “heretofore” means before the time of passage of this Resolution, and the word “hereafter” means after the time of passage of this Resolution. Section 2.3. Computations. Unless the facts shall then be otherwise, all computations required for the purposes of this Resolution shall be made on the assumption that the principal on the Note shall be paid as and when the same become due. Section 2.4. Certificates, Opinions and Reports. Except as otherwise specifically provided in this Resolution, each certificate, opinion or report with respect to compliance with a condition or covenant provided for in this Resolution shall include: (a) a statement that the person making such certificate, opinion or report has read the pertinent provisions of this Resolution to which such covenant or condition relates; (b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions contained in such certificate, opinion or report are based; (c) a statement that, in the opinion of such person, he has made such examination and investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; (d) a statement as to whether or not, in the opinion of such person, such condition or covenant has been complied with; and (e) an identification of any certificates, opinions or reports or other sources or assumptions relied on in such certificate, opinion or report. Section 2.5. Evidence of Action by the Authority. Except as otherwise specifically provided in this Resolution, any request, direction, command, order, notice, certificate or other instrument of, by or from the City or the Authority shall be effective and binding upon the Authority, respectively, for the purposes of this Resolution if signed by the Chairman, the Vice Chairman, the Secretary, the Treasurer of the Authority, the Finance Director, the Planning Director or by any other person or persons authorized to execute the same by statute, or by a resolution of the City or the Authority, respectively. Page 72 of 245 Area 34 Alltel 3650, LLC -6- ARTICLE III AUTHORIZATION AND ISSUANCE OF THE NOTE; GENERAL TERMS AND PROVISIONS Section 3.1. Authorization of Notes. Pursuant to and in full compliance with the Redevelopment Law and this Resolution, and for the purpose of providing funds to pay (a) the cost of acquiring, constructing, reconstructing, improving, extending, rehabilitating, installing, equipping, furnishing, and completing the Project, and (b) the costs of issuing the Note, the Authority shall issue one Tax Increment Revenue Note, in one taxable series, in the principal amount of $222,712 (the “Series 2023 A Note”) to be delivered to the City. The Authority shall issue one Tax Increment Revenue Note, in one taxable series, in a maximum principal amount of $668,138, (“ Series 2020 B TIF Note”), for net funds available to be purchased by the Redeveloper as provided in the Redevelopment Contract The Series 2023 A Note shall be dated the date of the passage of this Resolution and the Series 2023 B Note shall be dated the Date of Original Issue, shall mature, subject to right of prior redemption, not later than the December 31, 2041. The Series 2023 A Note and the Series 2023 B Notes, and shall bear interest at an annual rate of 7.50% calculated on the basis of a 360-day year consisting of twelve, 30-day months, from the Date of Original Issue. The Notes are special, limited obligations of the Authority payable solely from the Revenue and the amounts on deposit in the funds and accounts established by this Resolution. The Notes shall not in any event be a debt of the Authority (except to the extent of the Revenue and other money pledged under this Resolution), the State, nor any of its political subdivisions, and neither the Authority (except to the extent of the Revenue and other money pledged under this Resolution), the City, the State nor any of its political subdivisions is liable in respect thereof, nor in any event shall the principal of or interest on the Note be payable from any source other than the Revenue and other money pledged under this Resolution. The Note does not constitute a debt within the meaning of any constitutional, statutory, or charter limitation upon the creation of general obligation indebtedness of the Authority and does not impose any general liability upon the Authority. Neither any official of the Authority nor any person executing the Notes shall be liable personally on a Note by reason of its issuance. The validity of a Note is not and shall not be dependent upon the completion of the Project or upon the performance of any obligation relative to the Project. The Revenue and the amounts on deposit in the funds and accounts established by this Resolution are hereby pledged and assigned for the payment of the Notes, and shall be used for no other purpose than to pay the principal of or interest on the Notes, except as may be otherwise expressly authorized in this Resolution. The Series 2023 A Note shall be paid from 25% of the Tax Revenues and the Series 2023 B Note shall be paid from 75% of the Tax Revenues equally and ratably. The Notes shall not constitute a debt of the Authority or the City within the meaning of any constitutional, statutory, or charter limitation upon the creation of general obligation indebtedness of the Authority, and neither the Authority nor the City shall not be liable for the payment thereof out of any money of the Authority or the City other than the Tax Revenue and the other funds referred to herein. Nothing in this Resolution shall preclude the payment of a Note from (a) the proceeds of future notes issued pursuant to law or (b) any other legally available funds. Nothing in this Resolution shall prevent the City or the Authority from making advances of its own funds howsoever derived to any of the uses and purposes mentioned in this Resolution. Page 73 of 245 Area 34 Alltel 3650, LLC -7- Section 3.2. Details of Note; Authority of Finance Director. (a) The Series 2023 B Note shall be dated the Date of Original Issue which shall be the date of the first allocation of principal on the note and shall be issued to the purchaser thereof, as the Owner, in installments. The Note shall be delivered on the allocation of the maximum principal amount of the Note. The Note shall be issued as a single Note with appropriate series designation. (b) Proceeds of the Series 2023 B Note may be advanced and disbursed in the manner set forth below: (1) There shall be submitted to the Finance Director a disbursement request in a form acceptable to the Finance Director (the “Disbursement Request”), executed by an authorized representative of the Redeveloper, (A) certifying that a portion of the Project has been substantially completed and (B) certifying the actual costs incurred by the Redeveloper in the completion of such portion of the Project. (2) The Finance Director shall evidence such allocation in writing and inform the Owner of the Note of any amounts allocated to the Series 2023 B Note. (3) Such amounts shall be deemed proceeds of the Series 2023 B Note and the Finance Director shall inform the Registrar in writing of the date and amount of such allocation. The Registrar shall keep and maintain a record of the amounts allocated to the note pursuant to the terms of this Resolution as “Principal Amount Advanced” and shall enter the aggregate principal amount then Outstanding as the “Cumulative Outstanding Principal Amount” on the Note and its records maintained for the Note. The aggregate amount endorsed as the Principal amount Advanced on the Series 2023 B Note shall not in the aggregate exceed $668,138. The Authority shall have no obligation to pay any Disbursement Request unless such request has been properly approved as described above, and proceeds of the Note have been deposited by the Owner of the Note (if other than the Redeveloper) into the Project Fund. The records maintained by the Registrar as to principal amount advanced and principal amounts paid on the Note shall be the official records of the Cumulative Outstanding Principal Amount for all purposes. (c) The Series 2023 B Note shall be dated the Date of Original Issue, which shall be the initial date of a allocation of the Note. (d) As of the Date of Original Issue of the Note, there shall be delivered to the Registrar the following: (1) A signed investor’s letter in a form acceptable to the Finance Director and Note Counsel; and (2) Such additional certificates and other documents as the special counsel for the Authority may require. (e) The principal of the Note shall be payable in any coin or currency of the United States of America from all funds held by the which on the respective dates of payment thereof is legal tender for the payment of public and private debts. Payments on the Note due prior to maturity or earlier redemption and payment of any principal upon redemption price to maturity shall be made by check mailed by the Registrar on each Interest Payment Date to the Owners, at the Owners’ address as it appears on the books of registry maintained by the Registrar on the Record Date. The principal of the Series 2023 B Note due at maturity or upon earlier redemption shall be payable upon presentation and surrender of the Note to the Registrar. When any portion of the Note shall have been duly called Page 74 of 245 Area 34 Alltel 3650, LLC -8- for redemption and payment thereof duly made or provided for, interest thereon shall cease on the principal amount of such Note so redeemed from and after the date of redemption thereof. (f) The Series 2023 A Note and the Series 2023 B Note shall be executed by the manual signatures of the Chairman and Secretary of the Authority. In case any officer whose signature shall appear on any Note shall cease to be such officer before the delivery of such Note, such signature shall nevertheless be valid and sufficient for all purposes, the same as if s/he had remained in office until such delivery, and the Note may be signed by such persons as at the actual time of the execution of such Note shall be the proper officers to sign such Note although at the date of such Note such persons may not have been such officers. (g) The Finance Director is hereby authorized to hereafter, from time to time, specify, set, designate, determine, establish and appoint, as the case may be, and in each case in accordance with and subject to the provisions of this Resolution, (1) the Date of Original Issue, the principal amount of the Notes in accordance with Section 3.2(a), (2) the maturity date of the Note, which shall be not later than December 31, 2041, (3) the initial Payment Date and (4) any other term of the Note not otherwise specifically fixed by the provisions of this Resolution. (h) Any Note issued upon transfer or exchange of any other Note shall be dated as of the Date of Original Issue. (i) The Series 2023 B Note shall be issued to such Owner as shall be mutually agreed between the Redeveloper and the Finance Director for a price equal to 100% of the principal amount thereof. No Note shall be delivered to any Owner unless the Authority shall have received from the Owner thereof such documents as may be required by the Finance Director to demonstrate compliance with all applicable laws, including without limitation compliance with Section 3.6 hereof. The Authority may impose such restrictions on the transfer of any Note as may be required to ensure compliance with all requirements relating to any such transfer. Section 3.3. Form of Note Generally. The Notes shall be issued in registered form. The Notes shall be in substantially the form set forth in Article IX, with such appropriate variations, omissions and insertions as are permitted or required by this Resolution and with such additional changes as the Finance Director may deem necessary or appropriate. The Note may have endorsed thereon such legends or text as may be necessary or appropriate to conform to any applicable rules and regulations of any governmental authority or any usage or requirement of law with respect thereto. Section 3.4. Appointment of Registrar. The Finance Director is hereby appointed the registrar and paying agent for the Notes. The Registrar shall specify its acceptance of the duties, obligations and trusts imposed upon it by the provisions of this Resolution by a written instrument deposited with the Authority prior to the Date of Original Issue of the initial Notes. The Authority reserves the right to remove the Registrar upon 30 days’ notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar shall deliver all cash and the Notes in its possession to the successor Registrar and shall deliver the note register to the successor Registrar. The Registrar shall have only such duties and obligations as are expressly stated in this Resolution and no other duties or obligations shall be required of the Registrar. Section 3.5. Exchange of Notes. Any Note, upon surrender thereof at the principal office of the Registrar, together with an assignment duly executed by the Owner or its attorney or legal representative in such form as shall be satisfactory to the Registrar, may, at the option of the Owner thereof, be exchanged for another Note in a principal amount equal to the principal amount of the Note surrendered or exchanged, of the same series and maturity and bearing interest at the same rate. The Authority shall make provision for the exchange of the Notes at the principal office of the Registrar. Section 3.6. Negotiability, Registration and Transfer of Notes. The Registrar shall keep books for the registration and registration of transfer of the Notes as provided in this Resolution. The transfer of the Notes may Page 75 of 245 Area 34 Alltel 3650, LLC -9- be registered only upon the books kept for the registration and registration of transfer of the Notes upon (a) surrender thereof to the Registrar, together with an assignment duly executed by the Owner or its attorney or legal representative in such form as shall be satisfactory to the Registrar and (b) evidence acceptable to the Authority that the assignee is a bank or a qualified institutional buyer as defined in Rule 144A promulgated by the Securities and Exchange Commission. Prior to any transfer and assignment, the Owner will obtain and provide to the Authority, an investor’s letter in form and substance satisfactory to the Authority evidencing compliance with the provisions of all federal and state securities laws, and will deposit with the Authority an amount to cover all reasonable costs incurred by the Authority, including legal fees, of accomplishing such transfer. A transfer of any Note may be prohibited by the Authority if a default then exists under the Redevelopment Contract. Upon any such registration of transfer the Authority shall execute and deliver in exchange for such Note a new Note, registered in the name of the transferee, in a principal amount equal to the principal amount of the Note surrendered or exchanged, of the same series and maturity and bearing interest at the same rate. In all cases in which any Note shall be exchanged or a transfer of a Note shall be registered hereunder, the Authority shall execute at the earliest practicable time execute and deliver a Note in accordance with the provisions of this Resolution. The Note surrendered in any such exchange or registration of transfer shall forthwith be canceled by the Registrar. Neither the Authority nor the Registrar shall make a charge for the first such exchange or registration of transfer of any Note by any Owner. The Authority or the Registrar, or both, may make a charge for shipping, printing and out-of-pocket costs for every subsequent exchange or registration of transfer of such Note sufficient to reimburse it or them for any and all costs required to be paid with respect to such exchange or registration of transfer. Neither the Authority nor the Registrar shall be required to make any such exchange or registration of transfer of any Note during the period between a Record Date and the corresponding Interest Payment Date. Section 3.7. Ownership of Note. As to any Note, the person in whose name the same shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on account of the principal of or interest on such Note shall be made only to or upon the order of the Owner thereof or his legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Note, including the interest thereon, to the extent of the sum or sums so paid. Section 3.8. Disposition and Destruction of Note. The Notes, upon surrender to the Registrar for final payment, whether at maturity or upon earlier redemption, shall be canceled upon such payment by the Registrar and, upon written request of the Finance Director, be destroyed. Section 3.9. Mutilated, Lost, Stolen or Destroyed Note. If any Note becomes mutilated or is lost, stolen or destroyed, the Authority shall execute and deliver a new Note of like date and tenor as the Note mutilated, lost, stolen or destroyed; provided that, in the case of any mutilated Note, such mutilated Note shall first be surrendered to the Authority. In the case of any lost, stolen or destroyed Note, there first shall be furnished to the Authority evidence of such loss, theft or destruction satisfactory to the Authority, together with indemnity to the Authority satisfactory to the Authority. If any such Note has matured, is about to mature or has been called for redemption, instead of delivering a substitute Note, the Authority may pay the same without surrender thereof. Upon the issuance of any substitute Note, the Authority may require the payment of an amount by the Owner sufficient to reimburse the Authority for any tax or other governmental charge that may be imposed in relation thereto and any other reasonable fees and expenses incurred in connection therewith. Section 3.10. Non-presentment of Note. If any Note is not presented for payment when the principal thereof becomes due and payable as therein and herein provided, whether at the stated maturity thereof or call for optional or mandatory redemption or otherwise, if funds sufficient to pay such Note have been made available to the Registrar all liability of the Authority to the Owner thereof for the payment of such Note shall forthwith cease, determine and be completely discharged, and thereupon it shall be the duty of the Registrar to hold such funds, without liability for interest thereon, for the benefit of the Owner of such Note, who shall thereafter be restricted exclusively to such funds for any claim of whatever nature on their part under this Resolution or on, or with Page 76 of 245 Area 34 Alltel 3650, LLC -10- respect to, said Note. If any Note is not presented for payment within five years following the date when such Note becomes due, the Registrar shall repay to the Authority the funds theretofore held by it for payment of such Note, and such Note shall, subject to the defense of any applicable statute of limitation, thereafter be an unsecured obligation of the Authority, and the Registered Owner thereof shall be entitled to look only to the Authority for payment, and then only to the extent of the amount so repaid to it by the Registrar, and the Authority shall not be liable for any interest thereon and shall not be regarded as a trustee of such money. ARTICLE IV REDEMPTION OF NOTE Section 4.1. Redemption of Note. The Notes are subject to redemption at the option of the Authority prior to the maturity thereof at any time as a whole or in part from time to time in such principal amount as the Authority shall determine, at a redemption price equal to 100% of the principal amount then being redeemed plus accrued interest thereon to the date fixed for redemption. Section 4.2. Redemption Procedures. The Finance Director is hereby authorized, without further action of the Authority, to call all or any portion of the principal of the or payment and redemption prior to maturity on such date as the Finance Director shall determine, and shall deposit sufficient funds in the Debt Service Account from the Surplus Account to pay the principal being redeemed plus the accrued interest thereon to the date fixed for redemption. The Finance Director may effect partial redemptions of any Note without notice to the Owner and without presentation and surrender of such Note, but total redemption of any Note may only be effected with notice to the Owner and upon presentation and surrender of such Note to the Registrar. Notice of a total redemption of any Note shall be sent by the Registrar by first-class mail not less than five days prior to the date fixed for redemption to the Owner’s address appearing on the books of registry maintained by the Registrar and indicate (a) the title and designation of the Note, (b) the redemption date, and (c) a recitation that the entire principal balance of such Note plus all accrued interest thereon is being called for redemption on the applicable redemption date. Section 4.3. Determination of Outstanding Principal Amount of Note. Notwithstanding the amount indicated on the face of any Note, the principal amount of such Note actually Outstanding from time to time shall be determined and maintained by the Registrar. The Registrar shall make a notation in the books of registry maintained for each Note indicating the original principal advance of such Note as determined in accordance with Section 3.2 and make such additional notations as are required to reflect any additional principal advances or redemptions of such Note from time to time, including on the Table of Cumulative Outstanding Principal Amount attached to each Note if it is presented to the Registrar for that purpose. Any Owner may examine the books of registry maintained by the Registrar upon request, and the Registrar shall grant such request as soon as reasonably practicable. Any failure of the Registrar to record a principal advance or a redemption on the Table of Cumulative Outstanding Principal Amount shall not affect the Cumulative Outstanding Principal Amount shown on the records of the Registrar. ARTICLE V REFUNDING NOTES Section 5.1. Refunding Notes. Refunding Notes may be issued at any time at the direction of the Finance Director for the purpose of refunding (including by purchase) any Note or any portion thereof, including amounts to pay principal to the date of maturity or redemption (or purchase) and the expenses of issuing the Refunding Notes and of effecting such refunding; provided that the Debt Service on all notes to be outstanding after the issuance of the Refunding Notes shall not be greater in any Fiscal Year than would have been the Debt Service in such Fiscal Year were such refunding not to occur. Page 77 of 245 Area 34 Alltel 3650, LLC -11- ARTICLE VI EFFECTIVE DATE OF PROJECT; PLEDGE OF REVENUE Section 6.1. Effective Date of Project. For purposes of Section 18-2147, Reissue Revised Statutes of Nebraska, as amended, the effective date of the Project shall be determined as set forth in the Redevelopment Contract. The Finance Director is hereby directed to notify the Assessor of the effective date of the Project on the form prescribed by the Property Tax Administrator. Section 6.2. Collection of Revenue; Pledge of Revenue. As provided for in the Redevelopment Plan, and pursuant to the provisions of the Redevelopment Law, for the period contemplated thereby, the Tax Revenue collected in the Project Area shall be allocated to and, when collected, paid into the Special Fund under the terms of this Resolution to pay the principal on the Note. When the Note has been paid in accordance with this Resolution, the Redevelopment Plan and the Redevelopment Contract, the Tax Revenue shall be applied as provided for in the Redevelopment Law. The Revenue is hereby allocated and pledged in its entirety to the payment of the principal on the Note and to the payment of the Project Costs (including the Project), until the principal on the Note has been paid (or until money for that purpose has been irrevocably set aside), and the Revenue shall be applied solely to the payment of the principal on the Note. Such allocation and pledge is and shall be for the sole and exclusive benefit of the Owner and shall be irrevocable. Section 6.3. Potential Insufficiency of Revenue. Neither the Authority nor the City makes any representations, covenants, or warranties to the Owner that the Revenue will be sufficient to pay the principal of or interest on the Note. Payment of the principal of and interest on the Note is limited solely and exclusively to the Revenue pledged under the terms of this Resolution, and is not payable from any other source whatsoever. ARTICLE VII CREATION OF FUNDS AND ACCOUNTS; PAYMENTS THEREFROM Section 7.1. Creation of Funds and Account. There is hereby created and established by the Authority a special trust fund called the “3650 Redevelopment Project 2023 A TIF Note Fund” and a“3650 Redevelopment Project 2023 B TIF Note Fund” (each a “Special Fund”). The each Special Fund shall be held separate from all other funds of the City and Authority. So long as the Note remains unpaid, the money in the foregoing fund and accounts shall be used for no purpose other than those required or permitted by this Resolution, any Resolution supplemental to or amendatory of this Resolution and the Redevelopment Law. Section 7.2. Special Fund. All of the Revenue shall be deposited into the Special Fund. The Revenue accumulated in the Special Fund shall be used and applied on the Business Day prior to each Payment Date (a) to make any payments to the Authority as may be required under the Redevelopment Contract and (b) to pay principal on the Note to the extent of any money then remaining the Special Fund on such Payment Date. Money in the Special Fund shall be used solely for the purposes described in this Section 7.2. All Revenues received through and including December 31, 2041, shall be used solely for the payments required by this Section 7.2. Twenty five percent of Revenues shall be allocated to the 3650 Redevelopment Project 2023 A TIF Note Fund and seventy five percent of the Revenues shall be allocated to the 3650 Redevelopment Project 2023 B TIF Note Fund. Page 78 of 245 Area 34 Alltel 3650, LLC -12- ARTICLE VIII COVENANTS OF THE AUTHORITY So long as a Note is outstanding and unpaid, the Authority will (through its proper officers, agents or employees) faithfully perform and abide by all of the covenants, undertakings and provisions contained in this Resolution or in the Note, including the following covenants and agreements for the benefit of the Owner which are necessary, convenient and desirable to secure the Notes and will tend to make them more marketable; provided, however, that such covenants do not require either the City or the Authority to expend any money other than the Revenue nor violate the provisions of State law with respect to tax revenue allocation. Section 8.1. No Priority. The Authority covenants and agrees that it will not issue any obligations the principal of or interest on which is payable from the Revenue which have, or purport to have, any lien upon the Revenue prior or superior to or in parity with the lien of the Notes; provided, however, that nothing in this Resolution shall prevent the Authority from issuing and selling notes or other obligations which have, or purport to have, any lien upon the Revenue which is junior to the Note and the Debt Service thereon, or from issuing and selling notes or other obligations which are payable in whole or in part from sources other than the Revenue. Section 8.2. To Pay Principal of the Notes. The Authority will duly and punctually pay or cause to be paid solely from the Revenue the principal of the Notes on the dates and at the places and in the manner provided in the Notes according to the true intent and meaning thereof and hereof, and will faithfully do and perform and fully observe and keep any and all covenants, undertakings, stipulations and provisions contained in the Notes and in this Resolution. Section 8.4. Books of Account; Financial Statements. The Authority covenants and agrees that it will at all times keep, or cause to be kept, proper and current books of account (separate from all other records and accounts) in which complete and accurate entries shall be made of all transactions relating to the Project, the Revenue and other funds relating to the Project. Section 8.5. Eminent Domain Proceeds. The Authority covenants and agrees that should all or any part of the Project be taken by eminent domain or other proceedings authorized by law for any public or other use under which the property will be exempt from ad valorem taxation, the net proceeds realized by the Authority therefrom shall constitute Project Revenue and shall be deposited into the Special Fund and used for the purposes and in the manner described in Section 7.2. Section 8.6. Protection of Security. The Authority is duly authorized under all applicable laws to create and issue the Notes and to adopt this Resolution and to pledge the Revenue in the manner and to the extent provided in this Resolution. The Revenue so pledged is and will be free and clear of any pledge, lien, charge, security interest or encumbrance thereon or with respect thereto prior to, or of equal rank with, the pledge created by this Resolution, except as otherwise expressly provided herein, and all corporate action on the part of the Authority to that end has been duly and validly taken. The Notes are and will be a valid obligation of the Authority in accordance with its terms and the terms of this Resolution. The Authority shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of and security interest granted with respect to the Revenue pledged under this Resolution and all the rights of the Owner under this Resolution against all claims and demands of all persons whomsoever. Page 79 of 245 Area 34 Alltel 3650, LLC -13- ARTICLE IX FORM OF NOTE Section 9.1. Form of Notes. The Notes shall be in substantially the following form: (FORM OF NOTE SERIES 2023 A) THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND THIS NOTE MAY NOT BE TRANSFERRED UNLESS THE PROPOSED ASSIGNEE IS A BANK OR A QUALIFIED INSTITUTIONAL BUYER AS DEFINED IN RULE 144A PROMULGATED BY THE SECURITIES AND EXCHANGE COMMISSION AND THE OWNER HAS OBTAINED AND PROVIDED TO THE AUTHORITY, PRIOR TO SUCH TRANSFER AND ASSIGNMENT, AN INVESTOR’S LETTER IN FORM AND SUBSTANCE SATISFACTORY TO THE AUTHORITY EVIDENCING THE COMPLIANCE WITH THE PROVISIONS OF ALL FEDERAL AND STATE SECURITIES LAWS AND CONTAINING SUCH OTHER REPRESENTATIONS AS THE AUTHORITY MAY REQUIRE. THIS NOTE MAY BE TRANSFERRED ONLY IN THE MANNER AND ON THE TERMS AND CONDITIONS AND SUBJECT TO THE RESTRICTIONS STATED IN SECTION 3.6 OF RESOLUTION NO. ____________ OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. UNITED STATES OF AMERICA STATE OF NEBRASKA COUNTY OF HALL COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA 3650 REDEVELOPMENT PROJECT TAX INCREMENT DEVELOPMENT REVENUE NOTE, SERIES 2023A Principal Amount Interest Rate Per Annum Final Maturity Date $222,712 7.5%December 31, 2041 KNOW ALL PERSONS BY THESE PRESENTS: That the Community Redevelopment Authority of the City of Grand Island, Nebraska, hereby acknowledges itself to owe and for value received promises to pay, but only from the sources herein designated, to the registered owner designated on the reverse hereof, or registered assigns, the principal sum shown above in lawful money of the United States of America with such principal sum to become due on the maturity date set forth above, with interest on the unpaid balance from date of delivery hereof until maturity or earlier redemption at the rate of Seven percent (7.5%) per annum, subject to limitation as set forth in the authorizing resolution. Said interest shall be payable semiannually on June 1 and December 1 of each year commencing on June 1, 2026. The payment of principal and interest due upon the final maturity is payable upon presentation and surrender of this note to the Treasurer of said Authority, as Paying Agent and Registrar for said Authority, at the offices of the Community Redevelopment Authority of the City of Grand Island at City Hall, in Grand Island, Nebraska. The payments of interest and of mandatory redemption of principal on each interest payment date (other Page 80 of 245 Area 34 Alltel 3650, LLC -14- than at final payment) will be paid when due by a check or draft mailed by said Paying Agent and Registrar to the registered owner of this note, as shown on the books or record maintained by the Paying Agent and Registrar, at the close of business on the last business day of the calendar month immediately preceding the calendar month in which the interest payment date occurs, to such owner's address as shown on such books and records. Any payment of interest or mandatory redemption of principal not timely paid when due shall cease to be payable to the person entitled thereto as of the Record Date such interest was payable, and shall be payable to the person who is the registered owner of this note on such special record date for payment of such defaulted interest or redemption price as shall be fixed by the Paying Agent and Registrar whenever monies for such purpose become available. The Authority, however, reserves the right and option of prepaying principal of this note, in whole or in part, from any available sources at any time at the principal amount thereof plus accrued interest to the date fixed for redemption. Notice of any such optional prepayment shall be given by mail, sent to the registered owner of this note at said registered owner's address in the manner provided in the resolution authorizing said note. The principal of this note shall be Page 81 of 245 Page 15 subject to mandatory redemptions made in part on any interest payment date from “Available Funds" (as defined in the resolution authorizing the issuance of this note) without any requirement for notice. Such optional and mandatory prepayments shall be made upon such terms and conditions as are provided for in the resolution authorizing this note. This Note is a special limited obligation of the Authority payable as to principal and interest solely from and is secured solely by the Revenue (as defined in the Resolution LIMITED TO 25% OF TIF REVENUES) and certain other money, funds and securities pledged under the Resolution, all on the terms and conditions set forth in the Resolution. The Revenue represents that portion of ad valorem taxes levied by public bodies of the State of Nebraska, including the City, on real property in the Project Area (as defined in this Resolution) which is in excess of that portion of such ad valorem taxes produced by the levy at the rate fixed each year by or for each such public body upon the valuation of the Project Area as of a certain date and as has been certified by the County Assessor of Hall County, Nebraska to the City in accordance with law. This note is a single note in the total principal amount of $222,712 issued by the Authority for the purpose of paying the costs of redevelopment of certain real estate located in the City of Grand Island, as designated in that redevelopment contract containing a redevelopment plan recommended by the Authority and approved by the Mayor and Council of the City of Grand Island, Nebraska, on ______________ 2023, (the “Plan”), all in compliance with Article 21 of Chapter 18, Reissue Revised Statutes of Nebraska, 2012, as amended, and has been duly authorized by resolution passed and approved by the Chair and Members of the Authority (the "Resolution"). This note constitutes a limited obligation of the Authority payable exclusively from that portion of the ad valorem real estate taxes mentioned in subdivision 1 (b) of Section 18-2147, R.R.S. Neb. 2012, as levied, collected and apportioned from year to year with respect to certain real estate located within the "Project Area" (as defined in the Resolution). Pursuant to the Resolution and Section l8-2150, R.R.S. Neb. 2012, said portion of taxes has been pledged for the payment of this note, both principal and interest as the same fall due or become subject to mandatory redemption. This note shall not constitute a general obligation of the Authority and the Authority shall be liable for the payment thereof only out of said portion of taxes as described in this paragraph. This note shall not constitute an obligation of the State of Nebraska or of the City or Grand Island (except for such receipts as have been pledged pursuant to Section 18-2150 R.R.S. Neb. 2012) and neither the State or Nebraska nor the City of Grand Island shall be liable for the payment thereof from any fund or source including but not limited to tax monies belonging to either thereof (except for such receipts as have been pledged pursuant to Section 18-2150 R.R.S. Neb. 2012). Neither the members of the Authority's governing body nor any person executing this note shall be liable personally on this note by reason of the issuance hereof. The resolution authorizing said issue designates the terms upon which additional notes payable from said taxes may be issued in the future. This note is transferable by the registered owner or such owner's attorney duly authorized in writing at the office of the Paying Agent and Registrar upon surrender of this note for notation of transfer as provided on the reverse hereof and subject to the conditions provided for in the resolution authorizing the issuance of this note. The Authority, the Paying Agent and Registrar and any other person may treat the person whose name this note is registered as the absolute owner hereof for the purposes of receiving payment due hereunder and for all purposes and shall not be affected by any notice to the contrary, whether this note be overdue or not. THIS BOND, UNDER CERTAIN TERMS SET FORTH IN THE RESOLUTION AUTHORIZING ITS ISSUANCE, MAY ONLY BE TRANSFERRED TO PERSONS OR ENTITIES DELIVERING AN INVESTMENT LETTER TO THE PAYING AGENT AND REGISTRAR CONFORMING TO REQUIREMENTS SET FORTH IN SAID RESOLUTION. Page 82 of 245 Page 16 If the day for payment of the principal of or interest on this note shall be a Saturday, Sunday, legal holiday or a day on which banking institutions in the City of Grand Island, Nebraska, are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday or a day on which such banking institutions are authorized to close, and payment on such date shall have the same force and effect as if made on the nominal date of payment. IT IS HEREBY CERITFIED AND WARRANTED that all conditions, acts and things required by law to exist or to be done precedent to and in the issuance of this note, did exist, did happen and were done and performed in regular and due form and time as required by law and that the indebtedness of said Authority, including this note, does not exceed any limitation imposed by law. IN WITNESS WHEREOF, Community Redevelopment Authority of the City of Grand Island have caused this note to be executed on behalf of said Authority by being signed by the Chair and City Clerk and by causing the official seal of said Authority to be affixed hereto, all as of the date of issue shown above. Delivered this th day of , 2023. : ATTEST: (SEAL) COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY GRAND ISLAND, NEBRASKA By: _ (do not sign) Chair (do not sign) City Clerk Page 83 of 245 Page 17 Date of Registration Name of Registered Owner Signature of Paying Agent and Registrar _____________________ __________________________ _____________________ _____________________ __________________________ _____________________ PROVISION FOR REGISTRATION The ownership of this Note shall be registered as to both principal and interest on the books and records of the Community Redevelopment Authority of the City of Grand Island, Nebraska, kept by the Paying Agent and Registrar identified in the foregoing note, who shall make notation of such registration in the registration blank below, and the transfer of this Note may thereafter be registered only upon an assignment duly executed by the registered owner or such owner’s attorney or legal representative, in such form as shall be satisfactory to said Paying Agent and Registrar, such registration of transfer to be made on such books and endorsed hereon by said Paying Agent and Registrar (FORM OF NOTE SERIES 2023 B) THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND THIS NOTE MAY NOT BE TRANSFERRED UNLESS THE PROPOSED ASSIGNEE IS A BANK OR A QUALIFIED INSTITUTIONAL BUYER AS DEFINED IN RULE 144A PROMULGATED BY THE SECURITIES AND EXCHANGE COMMISSION AND THE OWNER HAS OBTAINED AND PROVIDED TO THE AUTHORITY, PRIOR TO SUCH TRANSFER AND ASSIGNMENT, AN INVESTOR’S LETTER IN FORM AND SUBSTANCE SATISFACTORY TO THE AUTHORITY EVIDENCING THE COMPLIANCE WITH THE PROVISIONS OF ALL FEDERAL AND STATE SECURITIES LAWS AND CONTAINING SUCH OTHER REPRESENTATIONS AS THE AUTHORITY MAY REQUIRE. UNITED STATES OF AMERICA STATE OF NEBRASKA COUNTY OF HALL COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA TAX INCREMENT DEVELOPMENT REVENUE NOTE (3650 REDEVELOPMENT PROJECT), SERIES 2023 B No. R-1 Up to $668,138(subject to reduction as described herein) Page 84 of 245 Page 18 Date of Original Issue Date of Maturity Rate of Interes t December 31, 2041 7.5% REGISTERED OWNER: 3650, LLC PRINCIPAL AMOUNT: SEE SCHEDULE 1 ATTACHED HERETO REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THE NOTE SET FORTH ON THE FOLLOWING PAGES, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE. IN WITNESS WHEREOF, THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA has caused this Note to be signed by the manual signature of the Chairman of the Authority, countersigned by the manual signature of the Clerk of the City, and the City’s corporate seal imprinted hereon. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA [S E A L]By: (manual signature) Chairman Page 85 of 245 Page 19 By: (manual signature) Clerk The COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA (the “Authority”) acknowledges itself indebted to, and for value received hereby promises to pay, but solely from certain specified tax revenues and other funds hereinafter specified, to the Registered Owner named above, or registered assigns, on the Date of Maturity stated above (or earlier as hereinafter referred to), the Principal Amount on Schedule 1 attached hereto upon presentation and surrender hereof at the office of the registrar and paying agent herefor, the Treasurer of the City of Grand Island, Nebraska (the “Registrar”), and in like manner to pay interest on the Cumulative Outstanding Principal Amount reflected in Schedule 1 at the Rate of Interest stated above, calculated on the basis of a 360-day year consisting of twelve, 30- day months, from the Date of Original Issue stated above, or the most recent interest payment date to which interest has been paid or duly provided for, as specified below, to maturity or earlier redemption, payable semiannually on June 1 and December 1 of each year until payment in full of such Principal Amount, beginning June 1, 2026, by check or draft mailed to the Registered Owner hereof as shown on the note registration books maintained by the Registrar on the 15th day of the month preceding the month in which the applicable interest payment date occurs, at such Owner’s address as it appears on such note registration books. The principal of this Note and the interest hereon are payable in any coin or currency which on the respective dates of payment thereof is legal tender for the payment of debts due the United States of America. This Note is issued by the Authority under the authority of and in full compliance with the Constitution and statutes of the State of Nebraska, including particularly Article VIII, Section 12 of the Nebraska Constitution, Sections 18-2101 to 18-2157, inclusive, Reissue Revised Statutes of Nebraska, as amended, and under and pursuant to Resolution No. duly passed and adopted by the Authority on _______, 2023, as from time to time amended and supplemented (the “Resolution”). THE PRINCIPAL AMOUNT OF THIS NOTE IS SET FORTH IN SCHEDULE 1 ATTACHED HERETO. THE MAXIMUM PRINCIPAL AMOUNT OF THIS NOTE IS $668,138. This Note is a special limited obligation of the Authority payable as to principal and interest solely from and is secured solely by the Revenue (as defined in the Resolution LIMITED TO 75% OF TIF REVENUES) and certain other money, funds and securities pledged under the Resolution, all on the terms and conditions set forth in the Resolution. The Revenue represents that portion of ad valorem taxes levied by public bodies of the State of Nebraska, including the City, on real property in the Project Area (as defined in this Resolution) which is in excess of that portion of such ad valorem taxes produced by the levy at the rate fixed each year by or for each such public body upon the valuation of the Project Area as of a certain date and as has been certified by the County Assessor of Hall County, Nebraska to the City in accordance with law. Reference is hereby made to the Resolution for the provisions, among others, with respect to the collection and disposition of certain tax and other revenues, the special funds charged with and pledged to the payment of the principal of and interest on this Note, the nature and extent of the security thereby created, the terms and conditions under which this Note has been issued, the rights Page 86 of 245 Page 20 and remedies of the Registered Owner of this Note, and the rights, duties, immunities and obligations of the City and the Authority. By the acceptance of this Note, the Registered Owner assents to all of the provisions of the Resolution. The principal of and interest hereon shall not be payable from the general funds of the City nor the Authority nor shall this Note constitute a legal or equitable pledge, charge, lien, security interest or encumbrance upon any of the property or upon any of the income, receipts, or money and securities of the City or the Authority or of any other party other than those specifically pledged under the Resolution. This Note is not a debt of the City or the Authority within the meaning of any constitutional, statutory or charter limitation upon the creation of general obligation indebtedness of the City or the Authority, and does not impose any general liability upon the City or the Authority and neither the City nor the Authority shall be liable for the payment hereof out of any funds of the City or the Authority other than the Revenues and other funds pledged under the Resolution, which Revenues and other funds have been and hereby are pledged to the punctual payment of the principal of and interest on this Note in accordance with the provisions of this Resolution. The Registered Owner may from time to time enter the respective amounts advanced pursuant to the terms of the Resolution under the column headed “Principal Amount Advanced” on Schedule 1 hereto (the “Table”) and may enter the aggregate principal amount of this Note then outstanding under the column headed “Cumulative Outstanding Principal Amount” on the Table. On each date upon which a portion of the Cumulative Outstanding Principal Amount is paid to the Registered Owner pursuant to the redemption provisions of the Resolution, the Registered Owner may enter the principal amount paid on this Note under the column headed “Principal Amount Redeemed” on the Table and may enter the then outstanding principal amount of this Note under the column headed “Cumulative Outstanding Principal Amount” on the Table. Notwithstanding the foregoing, the records maintained by the Trustee as to the principal amount issued and principal amounts paid on this Note shall be the official records of the Cumulative Outstanding Principal Amount of this Note for all purposes. Reference is hereby made to the Resolution, a copy of which is on file in the office of the City Clerk, and to all of the provisions of which each Owner of this Note by its acceptance hereof hereby assents, for definitions of terms; the description of and the nature and extent of the security for this Note; the Revenue and other money and securities pledged to the payment of the principal of and interest on this Note; the nature and extent and manner of enforcement of the pledge; the conditions upon which the Resolution may be amended or supplemented with or without the consent of the Owner of this Note; the rights, duties and obligations of the Authority and the Registrar thereunder; the terms and provisions upon which the liens, pledges, charges, trusts and covenants made therein may be discharged at or prior to the maturity or redemption of this Note, and this Note thereafter no longer be secured by the Resolution or be deemed to be outstanding thereunder, if money or certain specified securities shall have been deposited with the Registrar sufficient and held in trust solely for the payment hereof; and for the other terms and provisions thereof. This Note is subject to redemption prior to maturity, at the option of the Authority, in whole or in part at any time at a redemption price equal to 100% of the principal amount being redeemed, plus accrued interest on such principal amount to the date fixed for redemption. Reference is hereby made to the Resolution for a description of the redemption procedures and the notice requirements pertaining thereto. Page 87 of 245 Page 21 In the event this Note is called for prior redemption, notice of such redemption shall be given by first- class mail to the Registered Owner hereof at its address as shown on the registration books maintained by the Registrar not less than 10 days prior to the date fixed for redemption, unless waived by the Registered Owner hereof. If this Note, or any portion thereof, shall have been duly called for redemption and notice of such redemption duly given as provided, then upon such redemption date the portion of this Note so redeemed shall become due and payable and if money for the payment of the portion of the Note so redeemed and the accrued interest thereon to the date fixed for redemption shall be held for the purpose of such payment by the Registrar, interest shall cease to accrue and become payable hereon from and after the redemption date. This Note is transferable by the Registered Owner hereof in person or by its attorney or legal representative duly authorized in writing at the principal office of the Registrar, but only in the manner, subject to the limitations and upon payment of the charges provided in the Resolution, and upon surrender and cancellation of this Note. Upon such transfer, a new Note of the same series and maturity and for the same principal amount will be issued to the transferee in exchange therefor. The Authority and the Registrar may deem and treat the Registered Owner hereof as the absolute owner hereof for the purpose of receiving payment of or on account of principal of and interest due hereon and for all other purposes. This note is being issued as a registered note without coupons. This note is subject to exchange as provided in the Resolution. It is hereby certified, recited and declared that all acts, conditions and things required to have happened, to exist and to have been performed precedent to and in the issuance of this Note have happened, do exist and have been performed in regular and due time, form and manner; that this Note does not exceed any constitutional, statutory or charter limitation on indebtedness; and that provision has been made for the payment of the principal of and interest on this Note as provided in this Resolution. [The remainder of this page intentionally left blank] Page 88 of 245 Page 22 (FORM OF ASSIGNMENT) ASSIGNMENT FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto Print or Type Name, Address and Social Security Number or other Taxpayer Identification Number of Transferee the within note and all rights thereunder, and hereby irrevocably constitutes and appoints agent to transfer the within Note on the note register kept by the Registrar for the registration thereof, with full power of substitution in the premises. Dated: NOTICE: The signature to this Assignment must correspond with the name of the Registered Owner as it appears upon the face of the within note in every particular. Signature Guaranteed By: Name of Eligible Guarantor Institution as defined by SEC Rule 17 Ad-15 (17 CFR 240.17 Ad-15) By: Title: Page 89 of 245 Page 23 [The remainder of this page intentionally left blank] SCHEDULE 1 TABLE OF CUMULATIVE OUTSTANDING PRINCIPAL AMOUNT COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA 3650 REDEVELOPMENT PROJECT TAX INCREMENT DEVELOPMENT REVENUE NOTE, SERIES 2023 B Date Principal Amount Advanced Principal Amount Redeemed Cumulativ e Outstandin g PrincipalAmount Notatio n Mad e By Page 90 of 245 -24- ARTICLE X DEFEASANCE; MONEY HELD FOR PAYMENT OF DEFEASED NOTE Section 10.1. Discharge of Liens and Pledges; Note No Longer Outstanding Hereunder. The obligations of the Authority under this Resolution, including any Resolutions, resolutions or other proceedings supplemental hereto, and the liens, pledges, charges, trusts, assignments, covenants and agreements of the Authority herein or therein made or provided for, shall be fully discharged and satisfied as to the Note or any portion thereof, and the Note or any portion thereof shall no longer be deemed to be outstanding hereunder and thereunder, (a) when the any Note or portion thereof shall have been canceled, or shall have been surrendered for cancellation or is subject to cancellation, or shall have been purchased from money in any of the funds held under this Resolution, or (b) if the Note or portion thereof is not canceled or surrendered for cancellation or subject to cancellation or so purchased, when payment of the principal of the Note or any portion thereof, plus interest on such principal to the due date thereof, either (1) shall have been made or caused to be made in accordance with the terms thereof, or (2) shall have been provided by irrevocably depositing with the Registrar for the Note, in trust and irrevocably set aside exclusively for such payment, (A) money sufficient to make such payment or (B) Escrow Obligations maturing as to principal in such amount and at such times as will insure the availability of sufficient money to make such payment. Provided that, with respect to any total redemption of any Note, notice of redemption shall have been duly given or provision satisfactory to the Registrar shall have been made therefor, or waiver of such notice, satisfactory in form, shall have been filed with the Registrar. At such time as any Note or portion thereof shall no longer be outstanding hereunder, and, except for the purposes of any such payment from such money or such Escrow Obligations, such Note or portion thereof shall no longer be secured by or entitled to the benefits of this Resolution. Any such money so deposited with the Registrar for any Note or portion thereof as provided in this Section 10.1 may at the direction of the Finance Director also be invested and reinvested in Escrow Obligations, maturing in the amounts and times as hereinbefore set forth. All income from all Escrow Obligations in the hands of the Registrar which is not required for the payment of such Note or portion thereof with respect to which such money shall have been so deposited, shall be paid to the Authority and deposited in the Special Fund as and when realized and collected for use and application as is other money deposited in that fund. Anything in this Resolution to the contrary notwithstanding, if money or Escrow Obligations have been deposited or set aside with the Registrar pursuant to this Section 10.1 for the payment of any Note and such Note shall not have in fact been actually paid in full, no amendment to the provisions of this Section 10.1 shall be valid as to or binding upon the Owner thereof without the consent of such Owner. Section 10.2. Certain Limitations After Due Date. If sufficient money or Escrow Obligations shall have been deposited in accordance with the terms hereof with the Registrar in trust for the purpose of paying Page 91 of 245 -25- the Notes or any portion thereof when the same becomes due, whether at maturity or upon earlier redemption, all liability of the Authority for such payment shall forthwith cease, determine and be completely discharged, and thereupon it shall be the duty of the Registrar to hold such money or Escrow Obligations, without liability to the Owners, in trust for the benefit of the Owners, who thereafter shall be restricted exclusively to such money or Escrow Obligations for any claim for such payment of whatsoever nature on his part. Notwithstanding the provisions of the preceding paragraph of this Section 10.2, money or Escrow Obligations held by the Registrar in trust for the payment and discharge of the principal of on any Note which remain unclaimed for five years after the date on which such payment shall have become due and payable, either because the Notes shall have reached their maturity date or because the entire principal balance of the Notes shall have been called for redemption, if such money was held by the Registrar or such paying agent at such date, or for five years after the date of deposit of such money, if deposited with the Registrar after the date when such Note became due and payable, shall be paid to the Nebraska State Treasurer and the Registrar shall thereupon be released and discharged with respect thereto, and the Owner thereof shall look only to the Authority for the payment thereof. ARTICLE XI AMENDING AND SUPPLEMENTING OF RESOLUTION Section 11.1. Amending and Supplementing of Resolution Without Consent of Owner. The Authority may at any time without the consent or concurrence of the Owner of the Note adopt a resolution amendatory hereof or supplemental hereto if the provisions of such supplemental Resolution do not materially adversely affect the rights of the Owner of the Note, for any one or more of the following purposes: (a) To make any changes or corrections in this Resolution as to which the Authority shall have been advised by counsel that the same are verbal corrections or changes or are required for the purpose of curing or correcting any ambiguity or defective or inconsistent provision or omission or mistake or manifest error contained in this Resolution, or to insert in this Resolution such provisions clarifying matters or questions arising under this Resolution as are necessary or desirable; (b) To add additional covenants and agreements of the Authority for the purpose of further securing payment of the Note; (c) To surrender any right, power or privilege reserved to or conferred upon the Authority by the terms of this Resolution; (d) To confirm as further assurance any lien, pledge or charge, or the subjection to any lien, pledge or charge, created or to be created by the provisions of this Resolution; and (e) To grant to or confer upon the Owner of the Note any additional rights, remedies, powers, authority or security that lawfully may be granted to or conferred upon them. The Authority shall not adopt any supplemental Resolution authorized by the foregoing provisions of this Section 11.1 unless in the opinion of counsel the adoption of such supplemental Resolution is permitted by the foregoing provisions of this Section 11.1 and the provisions of such supplemental Resolution do not materially and adversely affect the rights of the Owner of the Note. Page 92 of 245 -26- Section 11.2. Amending and Supplementing of Resolution with Consent of Owner. With the consent of the Owners of the Note, the Authority from time to time and at any time may adopt a resolution amendatory hereof or supplemental hereto for the purpose of adding any provisions to, or changing in any manner or eliminating any of the provisions of, this Resolution, or modifying or amending the rights and obligations of the Authority under this Resolution, or modifying or amending in any manner the rights of the Owner of the Note; provided, however, that, without the specific consent of the Owner of the Note, no supplemental Resolution amending or supplementing the provisions hereof shall: (a) change the fixed maturity date for the payment or the terms of the redemption thereof, or reduce the principal amount of the Note or the rate of interest thereon or the Redemption Price payable upon the redemption or prepayment thereof; (b) authorize the creation of any pledge of the Tax Revenues and other money and securities pledged hereunder, prior, superior or equal to the pledge of and lien and charge thereon created herein for the payment of the Note except to the extent provided in Articles III and V; or (c) deprive the Owner of the Note in any material respect of the security afforded by this Resolution. Nothing in this paragraph contained, however, shall be construed as making necessary the approval of the Owner\ of the Note of the adoption of any supplemental Resolution authorized by the provisions of Section 11.1. It shall not be necessary that the consents of the Owner of the Note approve the particular form of wording of the proposed amendment or supplement or of the proposed supplemental Resolution effecting such amendment or supplement, but it shall be sufficient if such consents approve the substance of the proposed amendment or supplement. After the Owner of the Note shall have filed its consent to the amending or supplementing hereof pursuant to this Section, the Authority may adopt such supplemental Resolution. Section 11.3. Effectiveness of Supplemental Resolution. Upon the adoption (pursuant to this Article XI and applicable law) by the Authority of any supplemental Resolution amending or supplementing the provisions of this Resolution or upon such later date as may be specified in such supplemental Resolution, (a) this Resolution and the Note shall be modified and amended in accordance with such supplemental Resolution, (b) the respective rights, limitations of rights, obligations, duties and immunities under this Resolution and the Owner of the Note shall thereafter be determined, exercised and enforced under this Resolution subject in all respects to such modifications and amendments, and (c) all of the terms and conditions of any such supplemental Resolution shall be a part of the terms and conditions of the Note and of this Resolution for any and all purposes. ARTICLE XII MISCELLANEOUS Section 12.1. General and Specific Authorizations; Ratification of Prior Actions. Without in any way limiting the power, authority or discretion elsewhere herein granted or delegated, the Authority hereby (a) authorizes and directs the Chairman, Finance Director, Secretary, Planning Director and all other officers, officials, employees and agents of the City to carry out or cause to be carried out, and to perform such obligations of the Authority and such other actions as they, or any of them, in consultation with Special Counsel, the Owner and its counsel shall consider necessary, advisable, desirable or appropriate in connection with this Resolution, including without limitation the execution and delivery of all related documents, instruments, certifications and opinions, and (b) delegates, authorizes and directs the Finance Director the right, power and authority to exercise his independent judgment and absolute discretion in (1) determining and finalizing all terms and provisions to be carried by the Note not specifically set forth in this Resolution and (2) the taking of all actions and the making of all arrangements necessary, proper, appropriate, advisable or desirable in order to effectuate the issuance, sale and delivery of the Note. The execution and delivery by the Finance Director or by any such other officers, officials, employees or agents of the City of any such Page 93 of 245 -27- documents, instruments, certifications and opinions, or the doing by them of any act in connection with any of the matters which are the subject of this Resolution, shall constitute conclusive evidence of both the Authority’s and their approval of the terms, provisions and contents thereof and of all changes, modifications, amendments, revisions and alterations made therein and shall conclusively establish their absolute, unconditional and irrevocable authority with respect thereto from the Authority and the authorization, approval and ratification by the Authority of the documents, instruments, certifications and opinions so executed and the actions so taken. All actions heretofore taken by the Finance Director and all other officers, officials, employees and agents of the Authority, including without limitation the expenditure of funds and the selection, appointment and employment of Special Counsel and financial advisors and agents, in connection with issuance and sale of the Note, together with all other actions taken in connection with any of the matters which are the subject hereof, be and the same is hereby in all respects authorized, adopted, specified, accepted, ratified, approved and confirmed. Section 12.2. Proceedings Constitute Contract; Enforcement Thereof. The provisions of this Resolution shall constitute a contract between the Authority and the Owner and the provisions thereof shall be enforceable by the Owner by mandamus, accounting, mandatory injunction or any other suit, action or proceeding at law or in equity that is presently or may hereafter be authorized under the laws of the State in any court of competent jurisdiction. Such contract is made under and is to be construed in accordance with the laws of the State. After the issuance and delivery of any Note, this Resolution and any supplemental Resolution shall not be repealable, but shall be subject to modification or amendment to the extent and in the manner provided in this Resolution, but to no greater extent and in no other manner. Section 12.3. Benefits of Resolution Limited to the Authority and the Owner. With the exception of rights or benefits herein expressly conferred, nothing expressed or mentioned in or to be implied from this Resolution or the Note is intended or should be construed to confer upon or give to any person other than the Authority and the Owner of the Note any legal or equitable right, remedy or claim under or by reason of or in respect to this Resolution or any covenant, condition, stipulation, promise, agreement or provision herein contained. The Resolution and all of the covenants, conditions, stipulations, promises, agreements and provisions hereof are intended to be and shall be for and inure to the sole and exclusive benefit of the City, the Authority and the Owner from time to time of the Note as herein and therein provided. Section 12.4. No Personal Liability. No officer or employee of the Authority shall be individually or personally liable for the payment of the principal of or interest on the Note. Nothing herein contained shall, however, relieve any such officer or employee from the performance of any duty provided or required by law. Section 12.5. Effect of Saturdays, Sundays and Legal Holidays. Whenever this Resolution requires any action to be taken on a Saturday, Sunday or legal holiday, such action shall be taken on the first business day occurring thereafter. Whenever in this Resolution the time within which any action is required to be taken or within which any right will lapse or expire shall terminate on a Saturday, Sunday or legal holiday, such time shall continue to run until midnight on the next succeeding business day. Section 12.6. Partial Invalidity. If any one or more of the covenants or agreements or portions thereof provided in this Resolution on the part of the City, the Authority or the Registrar to be performed should be determined by a court of competent jurisdiction to be contrary to law, then such covenant or covenants, or such agreement or agreements, or such portions thereof, shall be deemed severable from the remaining covenants and agreements or portions thereof provided in this Resolution and the invalidity thereof shall in no way affect the validity of the other provisions of this Resolution or of the Note, but the Owner of Page 94 of 245 -28- the Note shall retain all the rights and benefits accorded to them hereunder and under any applicable provisions of law. If any provisions of this Resolution shall be held or deemed to be or shall, in fact, be inoperative or unenforceable or invalid as applied in any particular case in any jurisdiction or jurisdictions or in all jurisdictions, or in all cases because it conflicts with any constitution or statute or rule of public policy, or for any other reason, such circumstances shall not have the effect of rendering the provision in question inoperative or unenforceable or invalid in any other case or circumstance, or of rendering any other provision or provisions herein contained inoperative or unenforceable or invalid to any extent whatever. Section 12.7. Law and Place of Enforcement of this Resolution. The Resolution shall be construed and interpreted in accordance with the laws of the State of Nebraska. All suits and actions arising out of this Resolution shall be instituted in a court of competent jurisdiction in the State of Nebraska except to the extent necessary for enforcement, by any trustee or receiver appointed by or pursuant to the provisions of this Resolution, or remedies under this Resolution. Section 12.8. Effect of Article and Section Headings and Table of Contents. The headings or titles of the several Articles and Sections hereof, and any table of contents appended hereto or to copies hereof, shall be solely for convenience of reference and shall not affect the meaning, construction, interpretation or effect of this Resolution. Section 12.9. Repeal of Inconsistent Resolution. Any Resolution of the City, or the Authority and any part of any resolution, inconsistent with this Resolution is hereby repealed to the extent of such inconsistency. Section 12.10. Publication and Effectiveness of this Resolution. This Resolution shall take effect and be in full force from and after its passage by the Community Redevelopment Authority of the City. Section 12.11 Authority to Execute Redevelopment Contract and Approve Plan. The Chairman and Secretary are authorized and directed to execute the Redevelopment Contract, in the form presented with such changes as the Chairman, in his discretion deems proper. The Plan is approved and adopted. PASSED AND ADOPTED: ______________________, 2022. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA (SEAL) By: Chairman ATTEST: By: Secretary Page 95 of 245 -29- Page 96 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 7.b. Subject: Redevelopment Plan Amendment CRA Area 28- Amendment to the Area Included in the Enhanced Employment Area to include additional properties, specifically: Wells Fargo, Red Lobster and in Grand Island – Woodsonia Hwy 281, LLC Consideration of Resolution 461- Forward a Redevelopment Plan Amendment to the Grand Island City Council to amend the enhanced employment area for the Conestoga Marketplace to include the Red Lobster, Wells Fargo and Balls facilities immediately adjacent to the approved enhanced employment area in Grand Island – Woodsonia Hwy 281, LLC Staff Contact: Chad Nabity BACKGROUND: Woodsonia Hwy. 281 LLC has requested that the CRA and Council consider enlarging the Enhanced Employment Area approved with the Conestoga Marketplace Redevelopment Plan on November 22, 2023. The proposal would add 3 parcels to the existing EEA including Red Lobster and Wells Fargo on the south side of the project and Balz on the northwest side of the project. All of the property owners have consented to being added to the area. The plan amendment was prepared by Mike Bacon acting for the Authority. RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. CRA RES 461 Area 34 Woodsonia EEA addition to CC Page 97 of 245 2. revised plan amendment 3. Resolution 2024-04 Page 98 of 245 Area 28 Woodsonia Hwy 281 LLC EEA Additions Page 1 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 461 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 Woodsonia Hwy 281 LLC. (the “Redeveloper”), in the form attached hereto as Exhibit B, for the purpose of redeveloping the Redevelopment Area as defined in the original Redevelopment Plan approved on November 22, 2022 is expanding the size of Enhanced Employment Area to include all of the properties described on Exhibit A, referred to herein to the Enhanced Employment Area; and WHEREAS, pursuant to the Redevelopment Plan, the City will be authorized to redefine the approved Enhanced Employment Area and include additional properties in the area covered by the occupation tax for the purposes specified in the Redevelopment Plan (the “Project”), in accordance with and as permitted by the Act; 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. Page 99 of 245 Area 28 Woodsonia Hwy 281 LLC EEA Additions Page 2 Section 2. The Authority hereby recommends to the City approval of the Redevelopment Plan and the Redevelopment Project described in the Redevelopment Plan. Section 3. 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 4. This resolution shall be in full force and effect from and after its passage and approval. PASSED AND APPROVED this 8th day of November, 2023 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND NEBRASKA ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 100 of 245 Area 34 3650 LLC Alltel Page 3 EXHIBIT A LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA Legal Descriptions: Lots 1 through 12, inclusive, of the Conestoga Mall Ninth Subdivision; Lots 2 and 3 Conestoga Mall Eighth Subdivision and South 191.53 feet of the West 220 feet of Lot 1 of Conestoga North Twelfth Subdivision, all in the City of Grand Island, Hall County, Nebraska. Page 101 of 245 Area 34 3650 LLC Alltel Page 4 * * * * * EXHIBIT B FORM OF REDEVELOPMENT PLAN Page 102 of 245 Amendment of Redevelopment Plan, Grand Island CRA Area 28 Conestoga Marketplace October 2022, Enlarging the Redevelopment Area and Designating Additional Real Estate as an Enhanced Employment Area The Community Redevelopment Authority of the City of Grand Island (“CRA”) seeks to amend the “Redevelopment Plan, Grand Island CRA Area 28 Conestoga Marketplace, October 2022” (“Original Plan”) by enlargement of the Redevelopment Area subject to the Original Plan and designating the additional area as an Enhanced Employment Area provided in the Nebraska Community Development Law (the “Act”). The Original Plan is on file with the Grand Island, Nebraska, office of the City Clerk and is incorporated herein by this reference, INTRODUCTION: The City Council of Grand Island, Nebraska previously approved the Original Plan on November 22, 2022. The Redevelopment Area designated in the Original Plan is designated on Exhibit “A” hereto as “TIF Project Area” and legally described as Lots 1, 4 and 5, Conestoga Mall Eighth Subdivision to the City Of Grand Island, Hall County, Nebraska, and now described as Lots 1 through 12, inclusive, Conestoga Mall Ninth Subdivision to the City of Grand Island, Hall County, Nebraska. A portion of the Redevelopment Area in the Original Plan was designated as an Enhanced Employment Area as provided in the Act as shown on Page 12 of the Original Plan which is shown on Exhibit “B” hereto. The City imposed an occupation tax on the Enhanced Employment Area the proceeds of which are for purposes of paying the principal and interest on certain EEA Indebtedness issued by the CRA. Pursuant to the Original Plan, a Redevelopment Contract was executed between the City of Grand Island, Nebraska, the CRA and Woodsonia Hwy 281, LLC, a Nebraska limited liability company as Redeveloper. The Redevelopment Contract, among other items, provided for the issuance of TIF Indebtedness and EEA Indebtedness. This Amended Plan enlarges the Redevelopment Area as shown on Exhibit “C” and legally described as Lots 1 through 12, inclusive, of the Conestoga Mall Ninth Subdivision; Lots 2 and 3 Conestoga Mall Eighth Subdivision and South 191.53 feet of the West 220 feet of Lot 1 of Conestoga North Twelfth Subdivision, all in the City of Grand Island, Hall County, Nebraska. Additionally this Amended Plan requests: (1) that the CRA designate as Lots 1 through 12, inclusive, of the Conestoga Mall Ninth Subdivision; Lots 2 and 3 Conestoga Mall Eighth Subdivision and South 191.53 feet of the West 220 feet of Lot 1 of Conestoga North Twelfth Subdivision, all in the City of Grand Island, Hall County, Nebraska, as an Enhanced Employment Area; (2) that the Grand Island, Nebraska, City Council impose a 1.5% Occupation Tax by ordinance on the sales generated on the area described in subsection (1) on identical terms as the Occupation Tax Ordinance on Lots 1 through 12, inclusive, of the Conestoga Mall Ninth Subdivision; and (3) the proceeds of such new Occupation Tax Ordinance be pledged to the payment of the existing EEA Indebtedness. Page 103 of 245 PLAN AMENDMENT COMPLIES WITH THE ACT: §18-2111 of the Act requires that this Plan Amendment provide: 1. A map showing boundaries and existing uses in the redevelopment project area. Exhibit “C” attached hereto shows the redevelopment area as amended. Conditions and uses of the redevelopment area, prior to rehabilitation are shown in the Original Plan. 2. A land use plan of the redevelopment area. Exhibit “C” and the Original Plan show the proposed land use plan. 3. Information showing standards of population densities, land coverage and building intensities of the area after redevelopment. Exhibit “C” shows the current land coverage and building intensities. No change is contemplated as to the added areas. The Original Plan provides information as to population densities, coverage and building intensities for the balance of the redevelopment area. 4. A statement of the proposed changes, if any, in zoning ordinances or maps, street layouts, street levels or grades, or building codes and ordinances. Refer to the Original Plan for these elements. 5. Site Plan of the area. Refer to Exhibit “C” hereto and the Original Plan. 6. A statement as to the kind and number of additional public facilities or utilities which will be required to support the new land uses in the area after redevelopment. Refer to the Original Plan. This Plan Amendment does not make any revisions to this information. §18-2113 of the Act requires a cost-benefit analysis if this Amended Plan utilizes a division of taxes pursuant to §18-2147 of the Act. This Amended Plan does not provide for a division of taxes as to the real estate added to the redevelopment area. Nor does this Amended Plan provide for an increase in the TIF Indebtedness or EEA Indebtedness principal. Except as provided in this Plan Amendment, the Original Plan remains unrevised. Woodsonia Hwy 281, LLC, undertakes to create fifteen new employees and make a new investment of one million dollars over and above the original undertaking for investment and employment provided in the Original Plan. Page 104 of 245 EXHIBIT “A” Map of Original Redevelopment Area Page 105 of 245 EXHIBIT “B” Map of Original EEA Area Page 106 of 245 EXHIBIT “C” Map Showing Enlarged Redevelopment Area Page 107 of 245 Page 108 of 245 Page 109 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 7.c. Subject: Redevelopment Plan Amendment CRA Area 37- 610 N Darr Avenue in the City of Grand Island, Nebraska in Grand Island – Beckett Inc. Consideration of Resolution 462- Forward a Redevelopment Plan Amendment to the Grand Island City Council for property located south 610 N Darr Avenue in the City of Grand Island, Nebraska in Grand Island – Beckett Inc. Staff Contact: Chad Nabity BACKGROUND: Redevelopment Plan Amendment CRA Area 37 - The former Parkview Nursing Home located at 610 N. Darr Avenue. The propose project would renovate the existing building for use as a transitional facility for persons completing treatment for drug and alcohol addiction. The request is for $567,097 in Tax Increment Financing with an expected private investment of $1,716,553. RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. 01 CRA RES 462 Area 37 Beckett to CC 2. Redevelopment Plan Amendment Area 37 Parkview Beckett 3. Beckett Inc TIF PDF 1 4. Resolution 2024-05 Page 110 of 245 Area 37 Beckett Inc Park View Page 1 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 462 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 Beckett Inc. (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. Page 111 of 245 Area 37 Beckett Inc Park View 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 acquisition, site work, renovation, and utilities 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 $567,097 which shall be granted to the Redeveloper and from additional funds provided by the Redeveloper. Section 4. The Authority hereby recommends to the City approval of the Redevelopment Plan and the Redevelopment Project described in the Redevelopment Plan. Section 5. All prior resolutions of the Authority in conflict with the terms and provisions of this resolution are hereby expressly repealed to the extent of such conflicts. Section 6. This resolution shall be in full force and effect from and after its passage and approval. PASSED AND APPROVED this 8th day of November, 2023 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND NEBRASKA ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 112 of 245 Area 34 3650 LLC Alltel Page 3 EXHIBIT A LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA Legal Descriptions: 610 N. Darr Avenue Packer and Barr’s Addition Loots 1, 2, 3, 5, 6, and the south ½ of Lot 4 Block 4 Lot 2, 281 Retail Subdivision (Parcel ID No. 400068885). Page 113 of 245 Area 34 3650 LLC Alltel Page 4 * * * * * EXHIBIT B FORM OF REDEVELOPMENT PLAN Page 114 of 245 Redevelopment Plan Grand Island CRA Area 37 October 2023 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 37 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 37. Executive Summary: Project Description THE REDEVELOPMENT THE PARKVIEW NURSING HOME AT 610 N. DARR AVENUE FOR COMMERICIAL PURPOSES. The use of Tax Increment Financing to aid in renovation of the former Parkview Nursing home at 610 N. Darr Avenue. The use of Tax Increment Financing is an integral part of the development plan and necessary to make this project affordable. This property has sat vacant for several years and was acquired by the Beckett Inc. in December of 2022. Becket Inc. has purchased this property for the purpose of renovating it as a home for persons in addiction recovery. This project is in CRA Area 37. This property has been vacant for several years and significant work is necessary to renovate the building and bring it up to code. The proposed use is similar to the historic use of this building. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with the renovation. The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated over a 15 year period beginning in 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: 610 N. Darr Avenue Packer and Barr’s Addition Loots 1, 2, 3, 5, 6, and the south ½ of Lot 4 Block 4 Lot 2, 281 Retail Subdivision (Parcel ID No. 400068885). Page 115 of 245 Existing Land Use and Subject Property Page 116 of 245 The tax increment will be captured for the tax years the payments for which become delinquent in years 2025 through 2040 inclusive. The real property ad valorem taxes on the current valuation will continue to be paid to the normal taxing entities. The increase will come from 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. 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 September 28, 2021.[§18-2109] Such Page 117 of 245 declaration was made after a public hearing with full compliance with the public notice requirements of §18-2115 of the Act. 2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13) (a) and §18-2110] Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan amendment and project are consistent with the Comprehensive Plan, in that no changes in the Comprehensive Plan elements are intended. This plan merely provides funding for the developer to rehabilitate the 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 November 1, 2023 and passed Resolution 2024-?? 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: This Redevelopment Plan for Area 37 provides for real property acquisition and this plan amendment does not prohibit such acquisition. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: The project to be implemented with this plan does not provide for the demolition and removal any structures on this property. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. All of the area around the site in private ownership is planned for low to medium density residential development. This property is in private ownership. [§18-2103(b) and §18-2111] The attached map also is an accurate site plan of the area after redevelopment. [§18-2111(5)] Page 118 of 245 City of Grand Island Future Land Use Map Page 119 of 245 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned RO Residential Office Zone. The future land use map calls for public uses which tend to include public health facilities. This property has historically been used as a nursing home. No changes are anticipated in building codes or other ordinances. No other planning changes contemplated. [§18-2103(b) and §18-2111] Page 120 of 245 Current Zoning on the Site e. Site Coverage and Intensity of Use The RO zoning district allows for a variety of residential, office, medical and non-profit uses. The RO district allows a maximum ground coverage of 75%. [§18-2103(b) and §18-2111] Page 121 of 245 f. Additional Public Facilities or Utilities Sanitary sewer and water are available to support this development. 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 $300,000 as an eligible expense. The estimated costs of utilities including improvements for electric is $75,000. Demolition and rehabilitation activities of are expected to cost $1,693,000. Planning activities including engineering, architecture, legal fees and government fees are estimated at $7,000. The total of the eligible expenses for this project is estimated by the developer at $2,075,000. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. b. Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of $567,097 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: Page 122 of 245 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 particular building has been a blighting influence on the area for several years while it sat unoccupied on this busy corridor. 8. Time Frame for Development Development of this project is anticipated to begin in the 2023 year. The renovations are expected to be complete in 2024. Excess valuation should be available for 15 years beginning with the 2025 tax year. 9. Justification of Project This project will renovate and rehabilitate an existing building that has been vacant on this high traffic corridor for the last several years. 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 $567,097 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 $1,716,553 in private sector financing and investment; a private investment of $3.003 for every TIF dollar invested. Page 123 of 245 Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $300,000 $300,000 Building Costs $60,097 $1,507,903 $1,568,000 Utilities $75,000 $75,000 Demolition $125,000 $125,000 Legal/ TIF contract $7,000 $7,000 Contingency $208,650 $208,650 Total $567,097 $1,716,553 $2,283,650 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2024 valuation of approximately $300,000. Based on the 2022 levy this would result in a real property tax of approximately $6,349. It is anticipated that the assessed value will increase by $1,786,508 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $37,806 annually. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for the period of the bonds, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2024 assessed value: $ 300,000 Estimated value after completion $ 2,086,508 Increment value $ 1,786,508 Annual TIF generated (estimated) $ 37,806 TIF bond issue $ 567,097 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $300,000 The proposed redevelopment will create additional valuation of $1,786,508 by the end of the project. The project creates additional valuation, renovates a build that has been a drain on the neighborhood and surrounding area and that will support taxing entities long after the project is paid off. This development will also support and complement the construction of Claude Road on the west side of this property. The tax shift from this project will be equal to the total of the bond principal of $567,097 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 not directly result in a larger number of students for Grand Island Page 124 of 245 Public Schools. 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 provide additional space for new businesses. (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. (e) Impacts on student populations of school districts within the City or Village: This development will not have a direct impact on the Grand Island School system (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This will renovate and rehabilitate an existing building that has been vacant for the last several years. Time Frame for Development Development of this project is anticipated to be completed by the end of 2024. The base tax year should be calculated on the value of the property as of January 1, 2025. Excess valuation should be available for this project beginning in 2025 with taxes due in 2026. 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 $567,097 the projected amount of increment based upon the anticipated value of the project and current tax rate and associated interest on the bond. Based on the estimates of the expenses of the rehabilitation the developer will spend at least $2,075,000 on TIF eligible activities. Page 125 of 245 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 __37____ Beckett, Inc. 2110 E. Stolley Park Road, Grand Island, NE 68801 (402) 968-1702 pbeckett2nd@gmail.com Phil Beckett Beckett, Inc. is a real estate developer and contractor that creates secure, stable, transitional housing for people working towards sobriety. This supervised building community will help fill in the medical needs of our clients. 610 N. Darr Ave., Grand Island, NE 68801 PACKER'S & BARR'S ADD LTS 1-2-3-5-6 & S 2'LT 4 BLK 4 Page 126 of 245 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 $ ______________ Beckett, Inc. 4 This property is currently vacant and has been for three years. parking lot, fenced courtyard, basement, rec rooms. The heating and air is an outdated boiler system and will need to be upgraded. The exterior has some rotted areas that will need replaced. The landscaping is overgrown and neglected. The plumbing froze and will need replaced/repaired. The interior will need updated.0 300,00.00 1,568,000.00 75,000.00 This property is currently vacant and has been for three years. During the last three years, it has been the cause and concern for multiple police calls due to vagrants and vandalism. This property has been unsightly for the neighbors and the community. It is on a main through-way street in Grand Island. Currently, the way it sits, it negates the value and professionalism of the neighboring medical facilities that are important to our community. The building is 23,291 sq. ft., was most recently house a nursing home (Park Place Care and Rehabilitation Center). It was built in 1961 with an all-brick exterior. There are 44 rooms, 50 car parking lot, fenced courtyard, basement, rec rooms.The heating and air is an outdated boiler system and will need to be upgraded. The exterior has some rotted areas that will need replaced. The landscaping is overgrown and neglected. The plumbing froze and will need replaced/repaired. The interior will need updated. Page 127 of 245 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__Hall County Assessor___________________ 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 $ $ ____0_________ $ ____0_________ $ ____567,097.00 $ ____0__________ $ ____0__________ $ ______________ $ ______________ 125,000.00 7,000.00 208,650.00 2,283,650.00 2,086,508.00 450,000.00 1,266,553.00 ______________ (insurance, real estate taxes, interest, and all other carrying expenses during duration of project) Page 128 of 245 Form Updated 7-25-2019cn Page | 4 G. Nebraska Housing Trust Fund H. Other $ ____0__________ $ ____0__________ 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) ________________________________________________________________ Please see attached memo from Hall County Assessor.________________________________________________________ ____ ________________________________________________________________ ____________________________________________________________ Project Construction Schedule: Construction Start Date: _________________________________________________ Construction Completion Date: ___________________________________________ If Phased Project: _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete Architect: ATA Architects, LLC, 323 E. 14th Avenue, North Kansas City, MO, 64116 Engineer: Systems Engineering Professionals, Jon. R. Jackson, PE, 7335 Kentwell Lane, Lincoln, NE, 68516 General Contractor: Beckett, Inc., Phil Beckett, 2110 E. Stolley Park Road, Grand Island, NE, 68801 Phone and fax numbers available upon request. November 1, 2023 June 1, 2024 Page 129 of 245 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: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ Beckett, Inc. is requesting approximately $567,097.00 in TIF. The TIF will allow the project to cash flow and therefore be a success. These funds are especially important during this time of unprecedented inflation, interest rate increases, regional shortage of labor. Without TIF assistance, the project will not cash flow and therefore will not be a successful business venture. I am developing this property with the intent of bettering our community, providing a safe, stable, supervised living environment. Page 130 of 245 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: ________________________________________________________________ References available upon request.______________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________ Post Office Box 1968 Grand Island, Nebraska 68802-1968 Phone: 308 385-5240 Fax: 308 385-5423 Email: cnabity@grand-island.com Beckett, Inc. is a corporation comprised of officer Phil Beckett. Page 131 of 245 Page 132 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 7.d. Subject: Redevelopment Plan Amendment CRA Area 17- Multiple projects in the Prairie Commons fourth and sixth subdivisions and Ponderosa Village Second Subdivision located south of Schimmer Drive and west of U.S. Highway 281 in the City of Grand Island, Nebraska in Grand Island – Prataria Ventures LLC Consideration of Resolution 463- Forward a Redevelopment Plan Amendment to the Grand Island City Council for property located in the Prairie Commons fourth and sixth subdivisions and Ponderosa Village Second Subdivision located south of Schimmer Drive and west of U.S. Highway 281 in the City of Grand Island, Nebraska in Grand Island – Prataria Ventures LLC Staff Contact: Chad Nabity BACKGROUND: Redevelopment Plan Amendment CRA Area 37 - The next phase of the Prairie Commons Development south of the new hospital. This phase includes 5 different projects: Chief Corporate Office, Hotel, Quick Serve Restaurant, Financial/Office, and Restaurant/Bar. The request is for $5,829,686 in Tax Increment Financing with an expected private investment of $49,177,580. With the proposed interest on the TIF Bonds they are expected to generate $9,809,197, an amount less than more than $10,000,000 in eligible expenditures. RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. 01 CRA RES 463 Area 17 Praire Commons South to CC Page 133 of 245 2. 02 Redevelopment Plan Amendment - Grand Island CRA Area 17 - Phase 2 Prairie Commons 3. Tiff Application Updated final 4. Resolution 2024-06 Page 134 of 245 Area 17 Prataria Ventures LLC Prairie Commons South Page 1 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 463 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 Prataria 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. Page 135 of 245 Area 17 Prataria Ventures LLC Prairie Commons South 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 acquisition, site work, renovation, and utilities 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 $5,829,686 which shall be granted to the Redeveloper and from additional funds provided by the Redeveloper. Section 4. The Authority hereby recommends to the City approval of the Redevelopment Plan and the Redevelopment Project described in the Redevelopment Plan. Section 5. All prior resolutions of the Authority in conflict with the terms and provisions of this resolution are hereby expressly repealed to the extent of such conflicts. Section 6. This resolution shall be in full force and effect from and after its passage and approval. PASSED AND APPROVED this 8th day of November, 2023 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND NEBRASKA ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 136 of 245 Area 34 3650 LLC Alltel Page 3 EXHIBIT A LEGAL DESCRIPTION OF REDEVELOPMENT PROJECT AREA Legal Descriptions: : Lot 2 of Prairie Commons 4th Subdivision, Lots 3, 4, and 9 of Prairie Commons 6th Subdivision and Lot 1 Ponderosa Village 2ND Subdivision in the City of Grand Island, Hall County, Nebraska. Page 137 of 245 Area 34 3650 LLC Alltel Page 4 * * * * * EXHIBIT B FORM OF REDEVELOPMENT PLAN Page 138 of 245 Redevelopment Plan Amendment Grand Island CRA Area 17 October 2023 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 17 within the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific project in Area 17. Executive Summary: Project Description PHASE 4 OF THE REDEVELOPMENT OF PROPERTY LOCATED SOUTH OF HUSKER HIGHWAY AND WEST OF U.S. HIGHWAY 281 THE PROJECT SITE CONSISTS OF LOT 2 OF THE PRAIRIE COMMONS 4th SUBDIVISION, LOTS 3, 4, AND 9 OF THE PRAIRIE COMMONS 6TH SUBDIVISION AND LOT 1 OF THE PONDEROSA VILLAGE 2ND SUBDIVISION. THE PROJECT WILL CONSIST OF SITE WORK AND GRADING TO PROMOTE AND ENHANCE DRAINAGE ACROSS THE SITE, INTALLATION OF PUBLIC AND PRIVATE ROADS, SEWER, WATER AND OTHER UTILITY INFRASTRUCTURE TO SUPPORT DEVELOPMENT OF THE SITE. THIS PHASE OF THIS DEVELOPMENT WILL CONSIST OF THE CONSTRUCTION AT LEAST FIVE BUILDINGS FOR MULTIPLE USERS ON 5 LOTS. THE BUILDINGS INCLUDE A PROPOSED 129 ROOM HOTEL, A 43,289 SQUARE FOOT 3 STORY OFFICE BUILDING, A 12,200 SQUARE FOOT 2 STORY OFFICE BUILDING, A 2,240 SQUARE FOOT QUICK SERVE RESTAURANT, AND A 7,495 SQUARE FOOT SINGLE STORY RESTRUARANT/BAR. The use of Tax Increment Financing to aid in necessary infrastructure and grading improvements to redevelop the southwest corner of Husker Highway and U.S. Highway 281 in the City of Grand Island. The use of Tax Increment Financing was and is an integral part of the development plan and necessary to make this project economically feasible. The first phase and second phases of this development north of these sites are currently underway. The third phase, Tabitha is complete. It was anticipated when that project was approved that subsequent phases of the remainder of the site would include housing, office space and retail development. This fourth phase will extend the office development and include hospitality functions to support the rest of the subdivision. The developer has indicated that this development would not be considered nor financially feasible for at this location without the use of TIF. Prataria Ventures L.L.C., a wholly owned subsidiary of Chief Industries, Inc., owns the subject property. Chief Industries was founded in 1954 and is headquartered in Grand Island. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with the site work and redevelopment. The Grand Island Community Redevelopment Authority (CRA) intends Page 139 of 245 to pledge the ad valorem taxes generated over the multiple 15 year periods as soon as January 1, 2025 towards the allowable costs. TAX INCREMENT FINANCING TO PAY FOR THE REHABILITATION OF THE PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY: Property Description (the “Redevelopment Project Area”) Legal Descriptions: Lot 2 of Prairie Commons 4th Subdivision, Lots 3, 4, and 9 of Prairie Commons 6th Subdivision and Lot 1 Ponderosa Village 2ND Subdivision in the City of Grand Island, Hall County, Nebraska. Existing Land Use and Subject Property Page 140 of 245 This plan amendment provides for the issuance TIF Notes, the proceeds of which will be granted to the Redeveloper. The tax increment will be captured for up to 15 tax years for each subphase of the project; the payments for which become delinquent in years 2026 through 2045 inclusive or as otherwise dictated by the contract. The real property ad valorem taxes on the current valuation will continue to be paid to the normal taxing entities. The incremental value for the will be created by the construction buildings as described above. This area is planned for commercial development with the Grand Island Comprehensive Plan and is currently zoned RO Residential Office and B2 General Business, a variety of office, medical and commercial uses including hospitality are permitted in these districts. 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: Page 141 of 245 The Community Development Law requires that a Redevelopment Plan and Project consider and comply with a number of requirements. This Plan Amendment meets the statutory qualifications as set forth below. 1. The Redevelopment Project Area has been declared blighted and substandard by action of the Grand Island City Council on June 9, 2015.[§18-2109] Such declaration was made after a public hearing with full compliance with the public notice requirements of §18-2115 of the Act. 2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13) (a) and §18-2110] Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan amendment and project are consistent with the Comprehensive Plan, in that no changes in the Comprehensive Plan elements are intended. This plan merely provides funding for the developer to rehabilitate the building for permitted uses on this property as defined by the current and effective zoning regulations. The Hall County Regional Planning Commission held a public hearing at their meeting on November 1, 2023 and passed Resolution 2024-?? 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: This Redevelopment Plan for Area 17 does not anticipate real property acquisition by the developer. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: The project does not provide for the demolition or removal of any existing structures. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. This property is in private ownership and is planned for commercial uses [§18-2103(b) and §18-2111]. A site plan of the area after the proposed redevelopment is also attached. [§18-2111(5)] Page 142 of 245 City of Grand Island Future Land Use Map Page 143 of 245 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The property is currently platted and located in three different subdivisions. The property will be developed in substantial compliance with the existing plats. No changes in zoning are anticipated for the expected uses. No other planning changes contemplated. [§18-2103(b) and §18-2111] e. Site Coverage and Intensity of Use The developer is proposing to build on the site within the constraints allowed by the current zoning districts. The RO zoning district would allow up to 75% coverage. The B2 zoning district would allow up to 100% coverage. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities Sewer and water are available to support this development. Sufficient capacity exists within these systems to support this development at completion. Sewer, water will be extended throughout the site. The developer will be responsible for engineering and installation of all required utilities. Said utilities are expected to become part of the city infrastructure and will be accepted into the city systems after construction and inspection. Electric infrastructure will be extended throughout the site according to typical commercial installation requirements. Natural gas and communications infrastructure will be installed according to the agreements formed with the private companies that provide those services. The City of Grand Island will secure all necessary easements for utility infrastructure with the platting and development processes. [§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. No individuals or businesses will be relocated due to this development. [§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 has any ownership interest in this property at this time. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer is showing a purchase price of this property of $2,274,128. The cost of property acquisition is not included as a TIF eligible expense but is included in the sources and uses of funds and overall investment calculations. Costs for site preparation Page 144 of 245 including, grading and fill is estimated at $528,000. Utility extensions, storm water, sewer electrical and water are estimated at $891,000, Building plans and engineering are expected to cost $3,650,000. The cost of public roads is $1,832,909 and the hike/bike trail is $400,861. An additional $357,000 of expenses for legal work, fees and financial tracking of this project are also included as eligible expenses for a total maximum TIF request of $10,993,898. It is estimated based on the proposed increased valuation to $31,172,105 will result in $659,671 of increment generated annually. Based on a TIF Bond(s) of $5,829,686 this project should pay off prior to the end of the 15 year period even with interest associated with the bond and an expected values of the bond(s) of $9,809,197. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. b. Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of $5,829,686 from the proceeds of the TIF Indebtedness issued by the Authority. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2026 through December 2045 or such term as identified within the approved contract with no portion to exceed a term of 15 years. The developer will use the TIF Note(s) to secure debt financing in an amount not to exceed $5,829,686 and accrued interest to be paid to the note holder(s) during the term of the financing. 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 Page 145 of 245 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 blighted and substandard conditions within the area. 8. Time Frame for Development Development of this project is anticipated to be completed between December of 2023 and December of 2030. Excess valuation should be available for this project for 15 years beginning with the 2025 tax year. This is the fourth phase of development of this property and it is anticipated that additional projects will be brought forward for separate consideration on other lots within this and adjacent subdivisions. 9. Justification of Project Extension of utilities, substantial site grading and installation of streets are necessary to facilitate redevelopment of this site. The redevelopment of this property by Prataria Ventures, LLC, will result in increased employment opportunities. This is development is a continuation of efforts to extend development south along U.S. Highway 281 toward U.S. Interstate 80. The Grand Island City Council has made in the past made it clear through previous decisions that they support development toward the I-80/281 interchange. 10. Cost Benefit Analysis Section 18-2113 of the Act, further requires the Authority conduct a cost benefit analysis of the plan amendment in the event that Tax Increment Financing will be used. This analysis must address specific statutory issues. As authorized in the Nebraska Community Development Law, §18-2147, Neb. Rev. Stat. (2012), the City of Grand Island has analyzed the costs and benefits of the proposed project, including: Project Sources and Uses. A maximum of $5,829,686 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 $49,177,580 in private sector financing and investment; a private investment of $8.44 for every TIF dollar investment. Page 146 of 245 Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $ 2,274,128 Building Costs $ 41,520,368 $ 41,520,368 Sanitary Sewer $ 300,000 $ 300,000 Water $ 591,000 $ 591,000 Public Streets $ 1,698,697 $ 134,212 $ 1,832,909 Bike Trails $ 400,861 $ 400,861 Grading/Dirtwork $ 528,000 $ 528,000 Planning (Arch. & Eng.) $ 3,650,000 $ 3,650,000 Façade Enhancement $ 1,060,000 $ 1,060,000 Financing $ 135,000 $ 135,000 Other (Landscaping) $ 780,000 $ 780,000 Legal/ TIF contract $ 37,000 $ 320,000 $ 357,000 Contingency $ 1,578,000 $ 1,578,000 Total $5,829,686 $49,177,580 $55,007,266 Tax Revenue. The property to be redeveloped is has a January 1, 2024, valuation of all properties involved is approximately $907,243. Based on the 2022 levy this would result in a real property tax of approximately $19,199. It is anticipated that the assessed value will increase by $31,172,105 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $659,671 annually resulting in approximately $4,029,239 of increment over the 15 year period without any further increases in valuation. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for a period of 15 years, or such shorter time as may be required to amortize the TIF bond and interest on the bond, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2024 assessed value $907,243 Estimated value after completion $32,079,348 Increment value $31,173,105 Annual TIF generated (estimated)$659,671 TIF bond issue $5,829,686 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $907,243. The proposed extension improvements at this location will result in at least an additional $31,173,105 of taxable valuation based on the Hall County Assessor’s office evaluation of the project. No tax shifts are anticipated from the project. The project creates additional valuation that will support taxing entities long after the project is paid off. The project will not add any tax burdens to taxing entities. Therefore no tax shifts will occur. Page 147 of 245 (b) Public infrastructure and community public service needs impacts and local tax impacts arising from the approval of the redevelopment project; No additional public service needs have been identified. Existing water and waste water facilities will not be impacted by this development. The electric utility has sufficient capacity to support the development. It is not anticipated that this will impact schools. Fire and police protection are available and should not be impacted by this development. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; The proposed uses at this site would provide for expansion of office and service jobs within the area and compete with similar located in and locating in the City. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project is unlikely to have an impact on other employers and employees within the city. (e) Impacts on the student population of school districts within the city or village; and This project is unlikely to create any direct increase in cost for schools in the area. (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 continue growth along the 281 corridor in the direction of I-80. Time Frame for Development Development of this project is anticipated to be completed between Winter of 2023 and Winter of 2030. The base tax year should be calculated on the value of the property as of January 1, 2024. Excess valuation should be available for this project for 15 years beginning in 2025 with taxes due in 2026. Excess valuation will be used to pay the TIF Indebtedness issued by the CRA per the contract between the CRA and the developer for a period not to exceed 15 years or an amount not to exceed $5,829,686 the projected amount of increment along with any interest on the bond(s) (Projected Value of the Bonds is $9,809,197), based upon the anticipated value of the project and current tax rate. Page 148 of 245 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 ________ Page 149 of 245 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: See Exhibit A3 Page 150 of 245 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 Page 151 of 245 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: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ Page 152 of 245 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 Page 153 of 245 H*LOTS FOR SALE SHOW PROPOSED BUILDING FOOTPRINTSGUIDE1. GRAND ISLAND REGIONAL MEDICAL CENTER2. PRAIRIE COMMONS MEDICAL OFFICE BUILDING3. P.C. M.O.B. 2.0 LOT (IN PLANNING)4. EQUITABLE BANK LOT (IN PLANNING)5. TABITHA AT PRAIRIE COMMONS6. CAMPUS DAYCARE LOT (IN PLANNING)7. LOT FOR SALE8. LOT FOR SALE9. ALLEN CAPITAL GROUP/ UNITY EYE CENTER10. CHIEF INDUSTRIES HEADQUARTERS LOT (IN PLANNING)11. CAMPUS RESTAURANT/BAR LOT (IN PLANNING)12. CAMPUS TAVERN LOT (IN PLANNING)13. CAMPUS APARTMENTS LOT (IN PLANNING)14. LOT FOR SALE15. LOT FOR SALE16. LOT FOR SALE17. LOT FOR SALE18. LOT FOR SALE19. SPRINGHILL SUITES BY MARRIOTT LOT (IN PLANNING) 20. LOT FOR SALE 21. LOT FOR SALE22. LOT FOR SALE23. LOT FOR SALE24. LOT FOR SALE25. QUICK SERVICE RESTAURANT (IN PLANNING)26. COMMERCIAL OFFICE (IN PLANNING)27. LOT FOR SALE28. LOT FOR SALE29. LOT FOR SALE30. LOT FOR SALEHWY 281PRAIRIEVIEW STREETDEVELOPMENT®HUSKER HWYPRAIRIEVIEW STREETRAE ROADEWOLDT STREET1258910111415161718192021222324252627293028COMPLETEDIN PLANNINGLOT FOR SALEKEY71312346TIF APPLICATION:10. CHIEF INDUSTRIES HEADQUARTERS11. CAMPUS RESTAURANT/BAR19. SPRINGHILL SUITES BY MARRIOTT25. QUICK SERVICE RESTAURANT26. COMMERCIAL OFFICEExhibit APage 154 of 245 Exhibit A2 Prairie Commons South Phase TIF ApplicaƟon Proposed Project: Building square footage, size of property, descripƟon of buildings – materials, etc. Please aƩach site plan, if available. ¾The proposed hotel is planned to be a 129-room four-story SpringHill Suites by MarrioƩ. The hotel is to be 77,804 sq. Ō. and located on the 2.699 acre parcel at Prairie Commons 6th Subdivision Lot 4 (parcel #400433893). The exterior elevaƟons is an EIFS system that blends with the design-style that complements the campus look and feel. See Exhibit B1. ¾The new proposed Chief Industries Corporate Office/Headquarters is a three-story building consisƟng of 43,298 square feet (all-inclusive of paƟos and phantom-space in the open lobby areas). The site will be on Lot 2 of Prairie Commons 4th Subdivision (Parcel #400433853), which is a 7.534 acre site. The framing system is structural steel with metal panel and stone/brick exterior. Extensive curtain wall glass systems will be uƟlized for a highly aestheƟc exterior appearance. There are numerous roof extensions, canopies, and roof-top paƟos to give this Class A office the employee ameniƟes all while creaƟng a significant presence in the community and in the Prairie Commons campus. See Exhibit C1. ¾The proposed Commercial/Financial Office building is planned to be a two-story 12,200 square foot structure, located on the 1.14 acre Lot 1 of Ponderosa Village Second Subdivision (Parcel #400385023). Preliminary plans are for a metal panel and brick/stone exterior. Design concept to be consistent with the other Class A offices in the development. See Exhibit D1. ¾The proposed Quick Service Restaurant (QSR) is planned to be a single-story 2,240 square foot structure. This QSR is to be located on the 1.35 acre Lot 9 on the Prairie Commons 6th Subdivision (Parcel #400433917). The exterior is planned to be metal panel and stone/brick features. The site will accommodate an extensive drive-through to accommodate a high-volume of vehicles. See Exhibit E1. ¾The proposed restaurant/bar (Project ScoƩsdale) is a single-story structure consisƟng of 7,495 square feet of enclosed space with 1,863 square feet of paƟo space. This facility will be located on a porƟon of Lot 3 of Prairie Commons 6th Subdivision. The area for this restaurant/bar will be approximately 2.2735 acres. The exterior will consist of EIFS, metal panel, and stone/brick. Design features will be consistent with campus look & feel. See Exhibit F1. Page 155 of 245 Prairie Commons South TIF Application10/13/2023Exhibit A3Chief Ind. HQ Hotel-SHS Marriott Project Scottsdale (Restaurant/Bar) Quick Service Restaurant Commercial/Financial Office Developer Costs TotalsVI. Estimated Project Costs:Acquisition Costs:A. Acquisition Costs: -$ 940,000$ 396,128$ 515,000$ 423,000$ -$ 2,274,128$ B. Building-$ -$ -$ -$ -$ -$ -$ Construction Costs:A. Renovation or Building Costs: 16,137,262$ 16,362,605$ 2,978,123$ 1,002,378$ 5,040,000$ -$ 41,520,368$ B. On-Site Improvements:Sewer85,000$ 60,000$ 85,000$ 30,000$ 40,000$ -$ 300,000$ Water150,000$ 150,000$ 200,000$ 21,000$ 70,000$ -$ 591,000$ Electrical-$ -$ -$ -$ -$ Gas-$ -$ -$ -$ -$ Public Streets / Sidewalks 175,000$ 135,909$ 50,000$ 45,000$ 50,000$ 1,377,000$ 1,832,909$ Private Streets -$ -$ -$ -$ -$ -$ -$ Bike Trails78,738$ 42,486$ 31,877$ 32,622$ -$ 215,138$ 400,861$ Grading / Dirtwork / Fill 204,000$ 99,000$ 95,000$ 35,000$ 95,000$ -$ 528,000$ Façade Enhancement 720,000$ -$ 150,000$ 55,000$ 135,000$ 0 1,060,000$ Demolition-$ -$ -$ -$ -$ -$ -$ Other ( Landscaping) 450,000$ 150,000$ 60,000$ 60,000$ 60,000$ -$ 780,000$ Sub Total 1,862,738$ 637,395$ 671,877$ 278,622$ 450,000$ 1,592,138$ 5,492,770$ Soft Costs: A. Architectural & Engineering Fees 756,000$ 657,000$ 250,000$ 75,000$ 378,000$ 144,000$ 2,260,000$ B. Financing Fees 45,000$ 50,000$ 20,000$ 10,000$ 10,000$ -$ 135,000$ C. Legal Fees 75,000$ 202,000$ 40,000$ 20,000$ 20,000$ -$ 357,000$ D. Planning/Development 125,000$ 950,000$ 125,000$ 75,000$ 95,000$ 20,000$ 1,390,000$ E. Audit Fees-$ -$ -$ -$ -$ -$ F. Contingency Reserves 350,000$ 828,000$ 150,000$ 75,000$ 125,000$ 50,000$ 1,578,000$ G. Other ( Real Estate Taxes during Construction) -$ -$ -$ -$ -$ -$ -$ Sub Total 1,351,000$ 2,687,000$ 585,000$ 255,000$ 628,000$ 214,000$ 5,720,000$ Totals of Acq. Costs, Const. Costs,Improvements & Soft Costs 19,351,000$ 20,627,000$ 4,631,128$ 2,051,000$ 6,541,000$ 1,806,138$ 55,007,266$ Total Estimated Market Value at Completion:17,317,000$ 21,845,000$ 2,998,000$ 1,350,000$ 4,880,000$ -$ 48,390,000$ Source for Est. Market Value (all market experience and compariables)Source of Financing:A. Developer Equity 4,605,332$ 5,078,002$ 1,201,748$ 523,968$ 1,608,530$ -$ 13,017,579$ B. Commercial Bank Loan 10,745,775$ 11,848,671$ 2,804,078$ 1,222,591$ 3,753,236$ -$ 30,374,351$ C. Tax Credits 1. N.I.F.A.-$ -$ -$ -$ -$ -$ -$ 2. Historical Tax Credits -$ -$ -$ -$ -$ -$ -$ 3. New Market Tax Credits -$ -$ -$ -$ -$ -$ -$ 4. Opportunity Zone -$ -$ -$ -$ -$ -$ -$ D. Industrial Revenue Bonds -$ -$ -$ -$ -$ -$ -$ E. Tax Increment Financing 3,999,893$ 3,700,326$ 625,302$ 304,441$ 1,179,235$ -$ 9,809,197$ F. Enhanced Employment Area -$ -$ -$ -$ -$ -$ -$ G. Nebraska Housing Trust Fund -$ -$ -$ -$ -$ -$ -$ H. Other-$ -$ -$ -$ -$ -$ -$ Page 156 of 245 ChiefInd.HQHotelͲSHSMarriottProjectScottsdale(Restaurant/Bar)QuickServiceRestaurantCommercial/FinancialOffice DeveloperCosts TotalsͲ$940,000$396,128$515,000$423,000$Ͳ$2,274,128$85,000$60,000$85,000$30,000$40,000$ Ͳ$300,000$150,000$150,000$200,000$21,000$70,000$ Ͳ$591,000$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$175,000$135,909$50,000$45,000$50,000$1,377,000$1,832,909$Ͳ$ Ͳ$Ͳ$Ͳ$ Ͳ$ Ͳ$Ͳ$78,738$42,486$31,877$32,622$Ͳ$215,138$400,861$204,000$99,000$95,000$35,000$95,000$Ͳ$528,000$720,000$ Ͳ$150,000$55,000$135,000$0 1,060,000$Ͳ$ Ͳ$Ͳ$Ͳ$ Ͳ$ Ͳ$Ͳ$450,000$150,000$60,000$60,000$60,000$ Ͳ$780,000$1,862,738$637,395$671,877$278,622$450,000$1,592,138$5,492,770$PrairieCommonsSouthTIFApplication(EligibleTIFExpenses)9/20/2023ExhibitA4VI.EstimatedProjectCosts:AcquisitionCosts:A.AcquisitionCosts:ConstructionCosts:B.OnͲSiteImprovements:SewerWaterElectricalGasPublicStreets/SidewalksPrivateStreetsBikeTrailsGrading/Dirtwork/FillFaçadeEnhancementDemolitionOther(Landscaping)SubTotalSoftCosts:A. Architectural&EngineeringFees756,000$657,000$250,000$75,000$388,125$144,000$2,270,125$B. FinancingFees 45,000$50,000$20,000$10,000$10,000$Ͳ$135,000$C. LegalFees75,000$202,000$40,000$20,000$20,000$ Ͳ$357,000$D. Planning/Development 125,000$950,000$125,000$75,000$95,000$20,000$1,390,000$E. AuditFeesͲ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$F. ContingencyReserves 350,000$828,000$150,000$75,000$125,000$50,000$1,578,000$G. Other(RealEstateTaxesduringConstruction)Ͳ$ Ͳ$Ͳ$Ͳ$ Ͳ$ Ͳ$Ͳ$SubTotal1,351,000$2,687,000$585,000$255,000$638,125$214,000$5,730,125$TotalEstimatedTIFEligibleCostsPerProjectandPublicImprovements:3,213,738$4,264,395$1,653,005$1,048,622$1,511,125$1,806,138$13,497,023$Page 157 of 245 PRAIRIE COMMONS SOUTH (PHASE 3) TIF APPLICATION Interest Rate:7.50% TIF Period (yrs):15 45,212$ Annual Estimated Estimated Present Valuation Increment Value Quick Service Restaurant (QSR)1,027,126$ 20,296$ $180,932 Chief Corp. HQ 13,125,828$ 266,660$ $2,377,169 Hotel/SpringHIll Suites 11,845,100$ 246,688$ $2,199,134 Commercial/Financial Office 3,859,064$ 78,616$ $700,829 Restaurant/Bar (Project Scottsdale)2,222,230$ 41,687$ $371,622 32,079,348$ 653,946$ 5,829,686$ Years 15 9,809,197$ Exhibit A5 Page 158 of 245 ';Ë ¼Ë?Ë6ËË Êf¦¬´vË bcuË@ËAË ; EUË¨Ë ³=U˽ËK©MRHqËenFVËËQl3>˽ËsmªN9«¶ËwW~GXk¡JËrYPTgË:81 {tËx¾ZËhˤd[\LO| ²Ë¿ÀÁ0Ë - .;`jË.Ë7 ËIz¢£#/;ÂË *,Ë )$·®¸°ÃË/ 0 ;}(ÄÅË]S^_Ë+ËË Æ¥Ë¹µºÇ»ÈË C %& ±ËÉ!'"aoË4<ËiyË-Ëp5¯§Ë&9%7()4:8,56*;11111111111111111111111111111111111111111111212;3"####"$+! $,&2$,"#)2 (2(.2! 2 2*$2 '$2 DË 2Ë2Ë 2ËBË01$' 2 %+ 2$'222(-( &/2$2 2#2!!2' )(2'('.2Page 159 of 245 -P069S20S#¯BW¤oW¯C~W¯-:-¯D221¯-N¯;¯Dr¯!¯-_or¤d_ªd¯3§s¯NW¯N{¥¯-_or¤g¤¯ !! ¯<¯yW¥q~td!X_or¤g¤§d _ ¯2e¯8W¢d¯-=-¯D221¯-O¯<¯Dvd¯ ¯-bv¤fa¤§d¯4§u¯NW¯Nyg¤¯HWWn¯ ¯<¯dr_,vd W_o¤g¤¦d_ ¯QTPU0SFP.¯2J5=J22P$¯BW¬¢¯E¨d¯>¯Qv¨dZ¯2mrhwm¯zWv¨d[d_ ¯I207-J?0-D¯2J5@J22P%¯/Wc¯Qpd£Wd¯;¯QoW}d¡d¯2vddv¯^Y,¡oW|kdXd jm_ ¯2E20SPA0-D¯2K5:L22P'¯1W©rc¯7v_|~d«¯<¯R¤ ¦ ¯2rdd¡¯cW¨xov_}~f¬,¡d_ ¯0@V:D¯2J5@J22P&¯/vW¯1id¯<¯M~¡¡¯\_ ¯GJ1Q0-O2¯-P08:S20T&¯/vW¯d¯<¯M¡¡¯]` ¯l¯ %XHIBITº" )("* ¯ ®+¯ $+&2$+"#)2 (2(-2! 2 2*$2 '$2/01' 2 %! 2$'2 22(,( &.2$2 2#2!!2' )(2'('-2Page 160 of 245 Annual Estimated Assessed Caluation and Real Estate Tax Capture SpringHill Suites Hotel by Marriott (Prairie Commons 6th Sub Lot 4---Parcel #400433893)Assessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 2 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 3 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 4 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 5 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 6 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 7 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 8 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 9 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 10 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 11 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 12 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 13 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 14 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 15 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 Total property taxes - base year 10,645.01 30,468.96 2,252.05 2,154.80 9,012.44 419.68 2,546.75 661.29 71.09 254.11 660.73 555.95 59,703 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase 0.00%1 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 2 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 3 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 4 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 5 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 6 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 7 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 8 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 9 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 10 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 11 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 12 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 13 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 14 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 15 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 Total property taxes - base year 670,412.52 1,918,906.20 141,832.04 135,707.53 567,594.69 26,431.16 160,392.13 41,647.37 4,477.45 16,003.32 41,611.84 35,012.93 3,760,029 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 2 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 3 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 4 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 5 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 6 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 7 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 8 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 9 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 10 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 11 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 12 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 13 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 14 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 15 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 Total property taxes - base year 659,767.52 1,888,437.24 139,579.99 133,552.73 558,582.25 26,011.47 157,845.38 40,986.08 4,406.35 15,749.22 40,951.11 34,456.99 3,700,326 Estimated Present Value$2,199,134Interest Rate 7.50%&YIJCJU#Page 161 of 245 Assessed Value ProjectionsSpringHill Suites Hotel by Marriott (Prairie Commons 6th Sub >ŽƚϰͲͲͲWĂƌĐĞůηϰϬϬϰϯϯϴϵϯ1. Prairie Commons HotelCompleted BuildingsAssume $90K per room valuationUnits129Building Value/unit:90,000$ Total Building Value:$11,610,000Lot area (sf)117,550 Lot value (sf)$2.00Lot Value (sf)$235,100Total Value:$11,845,100TIF Calculations1. Prairie Commons HotelAssumptions:Tax Rate (2020):2.1766Base Year:2023Interest Rate:7.50%TIF Period (yrs):142020 assessed value per square ft$1.60000$188,080$11,845,100$11,657,020Base Value Completed (rounded) Increment džŚŝďŝƚϮPage 162 of 245 BIM 360://23016 Chief Industries HQ - Grand Island/23016_Chief Industries HQ_Grand Island_Arch_SD_R21.rvtChief Industries HQ07/31/23SITE PLANEWOLDT STCHIEF HQPRAIRI E V I E W S T Exhibit C1Page 163 of 245 /(9(/ /(9(/ /(9(/ 72522)'(&. &::'0303676)&:0367&:/(9(/ /(9(/ /(9(/ 72522)'(&. $)&(,%+*' &:0303&:6)676766/(9(/ /(9(/ /(9(/ 72522)'(&. 03036667676)6):'/(9(/ /(9(/ /(9(/ 72522)'(&. $)&(,%+*' 6)&::'0303670303:'67%,0 &KLHI,QGXVWULHV+4*UDQG,VODQGB&KLHI,QGXVWULHV+4B$UFKB&'B5UYW&KLHI,QGXVWULHV+4 6&+(0$7,&(/(9$7,216&: &857$,1:$//6<67(06) 6725()52176<67(003 0(7$/3$1(/$/80,1805$,16&5((16<67(003 0(7$/3$1(/$/80,180&20326,7(3$1(/67 6721(0$6215<9(1((5/,0(6721(25/,0(6721(,0,7$7,21:' :22'3$1(/&/$'',1* 62)),73$1(/66,08/$7(':22'210(7$/3$1(/25:22'9(1((53+(12/,&66 67$1',1*6($0522),1*6'6&$/( 1257+(/(9$7,216'6&$/( ($67(/(9$7,216'6&$/( 6287+(/(9$7,216'6&$/( :(67(/(9$7,21([KLELW&Page 164 of 245 CHIEF INDUSTRIESVIEW AT CORNER OF PRAIRIEVIEW AND EWOLDT&YIJCJU$Page 165 of 245 CHIEF INDUSTRIESVIEW ALONG PRAIRIEVIEW ST HEADED NORTH&YIJCJU$Page 166 of 245 CHIEF INDUSTRIESSOUTHWEST CORNER&YIJCJU$Page 167 of 245 CHIEF INDUSTRIESNORTHWEST CORNER AT THE MAIN ENTRANCE&YIJCJU$Page 168 of 245 Annual Estimated Assessed Caluation and Real Estate Tax Capture Chief Corporate HQ (Prairie Commons 4th Sub Lot 2---Parcel #400433853)Assessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 2 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 3 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 4 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 5 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 6 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 7 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 8 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 9 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 10 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 11 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 12 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 13 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 14 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 15 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 Total property taxes - base year29,719.27 85,064.77 6,287.39 6,015.89 25,161.37 1,171.69 7,110.15 1,846.22 198.48 709.42 1,844.65 1,552.12 166,681 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase0.00%1 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 2 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 3 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 4 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 5 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 6 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 7 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 8 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 9 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 10 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 11 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 12 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 13 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 14 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 15 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 Total property taxes - base year742,899.55 2,126,384.14 157,167.35 150,380.64 628,964.74 29,288.97 177,734.21 46,150.41 4,961.56 17,733.65 46,111.03 38,798.63 4,166,575 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 2 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 3 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 4 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 5 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 6 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 7 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 8 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 9 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 10 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 11 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 12 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 13 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 14 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 15 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 Total property taxes - base year 713,180.28 2,041,319.36 150,879.96 144,364.75 603,803.37 28,117.28 170,624.06 44,304.19 4,763.08 17,024.23 44,266.39 37,246.52 3,999,893 Estimated Present Value $2,377,169Interest Rate 7.50%1,201,113.69 džŚŝďŝƚϮPage 169 of 245 Value Projections 1.Chief Corporate HQ (Prairie Commons 4th Sub Lot 2---Parcel #400433853) Completed Coffee Shop Completed Base Building Area (sf):39,377 0 Building Value/SF:$300 Total Building Value:$11,813,100 $0 Land Area (sf):328,182 328,182 Land Value/SF:$4.00 $1.60 Total Land Value:$1,312,728 $525,091 Total Value:Notice to Divide Year $13,125,828 $525,091 Exhibit C2 Page 170 of 245 Exhibit D1Page 171 of 245 Annual Estimated Assessed Caluation and Real Estate Tax Capture Ponderosa Village 2nd Sub Lot 1 (Parcel #400385023) Assessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 2 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 3 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 4 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 5 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 6 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 7 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 8 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 9 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 10 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 11 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 12 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 13 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 14 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 15 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 Total property taxes - base year 8,159.10 23,353.60 1,726.13 1,651.60 6,907.78 321.67 1,952.01 506.86 54.49 194.76 506.43 426.12 45,761 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100%0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase 0.00% 1 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 2 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 3 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 4 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 5 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 6 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 7 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 8 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 9 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 10 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 11 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 12 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 13 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 14 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 15 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 Total property taxes - base year 218,416.46 625,168.37 46,208.05 44,212.72 184,919.01 8,611.12 52,254.81 13,568.47 1,458.73 5,213.79 13,556.89 11,407.01 1,224,995 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100%0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 2 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 3 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 4 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 5 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 6 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 7 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 8 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 9 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 10 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 11 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 12 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 13 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 14 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 15 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 Total property taxes - base year 210,257.36 601,814.77 44,481.91 42,561.12 178,011.24 8,289.44 50,302.80 13,061.61 1,404.23 5,019.02 13,050.46 10,980.89 1,179,235 Estimated Present Value $700,829 Interest Rate 7.50% Exhibit D2 Page 172 of 245 Value ProjectionsPonderosa Village 2nd Sub Lot 1 (Parcel #400385023)1. Commercial/Financial OfficeTwo Story OfficeCompleted BaseBuilding Area (sf): 12,200 0Building Value/SF: $300Total Building Value: $3,660,000 $0Land Area (sf): 49,766 49,766 Land Value/SF: $4.00 $2.90Total Land Value: $199,064 $144,158Total Value: Notice to Divide Year $3,859,064 $144,158 džŚŝďŝƚϮPage 173 of 245 BY-PASS LANENEEEEEEESTARBUCKSHWY. 281 & RAE RD.GRAND ISLAND, NEBRASKAPROPOSED SITE PLAN2023-18??/??/??A1.1??/??/????/??/??STANLEY J. HOW ARCHITECTS, INC.© A R C H I T E C T SExhibit E1Page 174 of 245 Annual Estimated Assessed Caluation and Real Estate Tax Capture Quick Service Restaurant (Prairie Commons 6th Sub---Parcel #400433917)Assessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 2 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 3 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 4 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 5 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 6 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 7 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 8 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 9 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 10 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 11 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 12 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 13 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 14 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 15 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 Total property taxes - base year 3,851.83 11,025.02 814.89 779.70 3,261.10 151.86 921.53 239.28 25.73 91.95 239.08 201.17 21,603 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase 0.00%1 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 2 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 3 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 4 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 5 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 6 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 7 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 8 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 9 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 10 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 11 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 12 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 13 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 14 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 15 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 Total property taxes - base year 58,133.56 166,394.35 12,298.70 11,767.62 49,217.91 2,291.93 13,908.10 3,611.37 388.25 1,387.70 3,608.29 3,036.08 326,044 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 2 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 3 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 4 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 5 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 6 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 7 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 8 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 9 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 10 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 11 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 12 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 13 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 14 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 15 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 Total property taxes - base year 54,281.73 155,369.33 11,483.81 10,987.92 45,956.81 2,140.07 12,986.57 3,372.09 362.53 1,295.75 3,369.21 2,834.91 304,441 Estimated Present Value$180,932Interest Rate 7.50% džŚŝďŝƚ ϮPage 175 of 245 Value Projections1. Quick Service Restaurant (Prairie Commons 6th Sub---Parcel #400433917)Completed Coffee ShopCompleted BaseBuilding Area (sf): 2,280 0Building Value/SF: $350Total Building Value: $798,000 $0Land Area (sf): 57,281 57,281 Land Value/SF: $4.00 $1.19Total Land Value: $229,126 $68,056Total Value: Notice to Divide Year $1,027,126 $68,056Exhibit E2Page 176 of 245 ($6(0(17 $3352; )520321'(526$/$.(=21( *(1(5$/%86,1(66 % 6(7%$&.6 )5217 5($5 6,'( /$1'6&$3(%8))(55(48,5(0(17 2))675((7<$5'3$5.,1*5(48,5(0(176 63$&(6)25(9(5<6($76 5(67$85$17 63$&()25(9(5<6($76 &21)(5(1&($66(0%/< 5(48,5(' $'$ $9$,/$%/( $'$ 6(77/(552$'5(67$85$173$7,2($6(0(17 (175</27127( (;,67,1*%,.(75$,/ 127( 35,9$&<)(1&( $'$ $'$ 127( 3267,1',&$7259$/9(127( (/(&7521,&75$16)250(575$6+(1&/2685(127( 352326('1(:3523(5/</,1(127( (/(&7521,&75$16)250(5127( '5,9(:$<)25'(/,9(5,(6127( $5($)25/,9(086,&67$*(127( $5($)256($7,1*127( &2%%/(6721(3$9,1*#0$,1(175$1&($1'3$7,2 6 %$5 $ %$5 % 3$7,23$7,2 $'$ 127( '5,9(:$<)25'(/,9(5,(6 75$6+(1&/2685(127( &2%%/(6721(3$9('3$7+72/,9(086,& 127( 352326('&20021'5,9(&21)(5(1&(3$7,2MYYU \\\HMNJKHTSXYWZHYNTSZX0*&73*>3* ª ,7&3).81&3)3* ª 8-**934 574/*(93&2* 8(&1* 574/*(934 )&9* )7&<3'> )*8.,3':.1)ª ,*3*7&1(4397&(9478127)25&216758&7,217KHVHSODQVDUHWKHSURSHUW\RI&+,()&216758&7,217KH\DUHQRWWREHUHSURGXFHGRUGLVWULEXWLHGLQDQ\PDQQHUZLWKRXWWKHZULWWHQFRQVHQWRI&+,()&216758&7,21&21),'(17,$/ $ (1*/,6+$352-(&76&2776'$/(*5$1',6/$1'1($5&+,7(&785$/6,7(3/$1 6,7(3/$1Exhibit F1Page 177 of 245 $$$$ )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678' 9(67+267%$5:$6+055055055:55:55 :55&21)(5(1&(.,7&+(13$7,2:,1(5220',1,1* 127( 23(5$%/(3$57,7,216127( %227+',9,'(56 %2;('287:22'3$1(/,1*127( $%675$&7$573,(&(672%(86('$63$57,7,216 7+528*+2875(67$85$17 127( 7528*+6,1.6<67(0 0(&+6725$*(2)),&( 29(5$//352326('648$5()227$*( 6)',1,1*$1'%$563$&( 6).,7&+(163$&( 6)&21)(5(1&(63$&( 6)3$7,2 6)3$7,2MYYU \\\HMNJKHTSXYWZHYNTSZX0*&73*>3* ª ,7&3).81&3)3* ª 8-**934 574/*(93&2* 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574/*(934 )&9* )7&<3'> )*8.,3':.1)ª ,*3*7&1(4397&(9478127)25&216758&7,217KHVHSODQVDUHWKHSURSHUW\RI&+,()&216758&7,217KH\DUHQRWWREHUHSURGXFHGRUGLVWULEXWLHGLQDQ\PDQQHUZLWKRXWWKHZULWWHQFRQVHQWRI&+,()&216758&7,21&21),'(17,$/ $ (1*/,6+$352-(&76&2776'$/(*5$1',6/$1'1((;7(5,25(/(9$7,216 :(67(/(9$7,21 ($67(/(9$7,21([KLELW)Page 179 of 245 7232))/225 ($9(+(,*+7 (,)6 &2/25 ),1,6+7%' 522)3$5$3(7 +(,*+72) (3'0522):'5$,16 (,)6 &2/25 ),1,6+7%' 0$18)6721(:$,16&27#+(,*+72) &$123< (;7(1'(')5203$7,2720$,1(175$1&(:22'7(;785(25:22'*5$,1$/806,',1*#7232)(,)6727232)3$5$3(77232))/225 ($9(+(,*+7 (,)6 &2/25 ),1,6+7%' 522)3$5$3(7 +(,*+72) (3'0522):'5$,163$7,2&29(5,1* &857$,1:$//6<67(0#+(,*+72) 0$18)6721(:$,16&27#+(,*+72) &$123< (;7(1'(')5203$7,2720$,1(175$1&(0$18)6721( 6721(&2/8016$73$7,2:22'7(;785(25:22'*5$,1$/806,',1*#7232)(,)6727232)3$5$3(7MYYU \\\HMNJKHTSXYWZHYNTSZX0*&73*>3* ª ,7&3).81&3)3* ª 8-**934 574/*(93&2* 8(&1* 574/*(934 )&9* )7&<3'> )*8.,3':.1)ª ,*3*7&1(4397&(9478127)25&216758&7,217KHVHSODQVDUHWKHSURSHUW\RI&+,()&216758&7,217KH\DUHQRWWREHUHSURGXFHGRUGLVWULEXWLHGLQDQ\PDQQHUZLWKRXWWKHZULWWHQFRQVHQWRI&+,()&216758&7,21&21),'(17,$/ $ (1*/,6+$352-(&76&2776'$/(*5$1',6/$1'1((;7(5,25(/(9$7,2161R 'HVFULSWLRQ 'DWH 6287+(/(9$7,21 1257+(/(9$7,21([KLELW)Page 180 of 245 MYYU \\\HMNJKHTSXYWZHYNTSZX0*&73*>3* ª ,7&3).81&3)3* ª 8-**934 574/*(93&2* 8(&1* 574/*(934 )&9* )7&<3'> )*8.,3':.1)ª ,*3*7&1(4397&(9478127)25&216758&7,217KHVHSODQVDUHWKHSURSHUW\RI&+,()&216758&7,217KH\DUHQRWWREHUHSURGXFHGRUGLVWULEXWLHGLQDQ\PDQQHUZLWKRXWWKHZULWWHQFRQVHQWRI&+,()&216758&7,21&21),'(17,$/$ (1*/,6+ $352-(&76&2776'$/(*5$1',6/$1'1('9,(:'(;7(5,259,(:&YIJCJU'Page 181 of 245 Annual Estimated Assessed Caluation and Real Estate Tax CaptureAssessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 2 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 3 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 4 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 5 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 6 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 7 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 8 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 9 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 10 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 11 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 12 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 13 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 14 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 15 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 Total property taxes - base year 14,283.26 40,882.64 3,021.76 2,891.27 12,092.71 563.12 3,417.18 887.30 95.39 340.95 886.55 745.96 80,108 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase 0.00%1 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 2 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 3 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 4 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 5 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 6 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 7 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 8 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 9 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 10 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 11 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 12 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 13 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 14 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 15 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 Total property taxes - base year 125,774.44 360,001.26 26,608.76 25,459.76 106,485.04 4,958.68 30,090.77 7,813.36 840.00 3,002.34 7,806.69 6,568.69 705,410 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 2 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 3 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 4 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 5 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 6 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 7 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 8 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 9 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 10 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 11 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 12 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 13 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 14 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 15 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 Total property taxes - base year 111,491.18 319,118.62 23,587.00 22,568.48 94,392.33 4,395.56 26,673.59 6,926.06 744.61 2,661.39 6,920.15 5,822.73 625,302 Estimated Present Value$371,622Interest Rate 7.50% džŚŝďŝƚ&ϮPage 182 of 245 Value Projections1. Steakhouse ConceptOne Story OfficeCompleted BaseBuilding Area (sf): Don't inlcude Patio 7,495 0Building Value/SF: $250Total Building Value: $1,873,750 $0Land Area (sf): 87,120 87,120 Land Value/SF: $4.00 $2.90Total Land Value: $348,480 $252,362Total Value: Notice to Divide Year $2,222,230 $252,362 džŚŝďŝƚ&ϮPage 183 of 245 Page 184 of 245 Page 185 of 245 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Community Redevelopment Authority November 8, 2023 Date: November 8, 2023 Item #: 7.e. Subject: Redevelopment Plan Amendment CRA Area 1- 205 W. 1st Street (Elks Building) in the City of Grand Island, Nebraska in Grand Island – SNH Holdings L.L.C. Consideration of Resolution 464- Forward a Redevelopment Plan Amendment to the Hall County Regional Planning Commission for property located at 205 W. 1st Street in the City of Grand Island, Nebraska in Grand Island – SNH Holdings L.L.C. Consideration of Resolution 465 - Resolution of Intent to enter into a Site Specific Redevelopment Contract and Approval of related actions 30-day notice to city council for property located at 205 W. 1st Street in the City of Grand Island, Nebraska in Grand Island – SNH Holdings L.L.C. Staff Contact: Chad Nabity BACKGROUND: Redevelopment Plan Amendment CRA Area 1 - SNH Holdings L.L.C. has purchased the old Elks Building at 205 W. 1st Street. The proposed project would create an event venue at this historic building. As part of this plan it is proposed that the City deed approximately 600 square feet of the adjoining parking lot to the owners of the building to accommodate construction of a handicap ramp and elevator tower along the west side. The CRA has approved a facade grant in the amount of $100,000 and tentatively approved another $100,000 per year for the next three years subject to budget approval. The request is for $509,981 in Tax Increment Financing with an expected private investment of $1,650,000. RECOMMENDATION: Move to approve as recommended. Page 186 of 245 SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. 08a Redevelopment Plan Amendment Area 1 Elks 2. Final TIF Application.205 W 1st.SNH Holdings 3. 04 CRA RES 464 refer to RPC SNH Elks Area 1 4. 05 CRA RES 465 SNH Elks Area 1 Page 187 of 245 Redevelopment Plan Amendment Grand Island CRA Area 1 November 2023 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 1 with in the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific infrastructure related project in Area 1. Executive Summary: Project Description THE REDEVELOPMENT OF THE BUILDING LOCATED AT 205 W 1st STREET FOR COMMERCIAL USES, INCLUDING FIRE/LIFE SAFETY IMPROVEMENTS AND BUILDING REHABILITATION AND REMODELING. The use of Tax Increment Financing to aid in rehabilitation expenses associated with redevelopment of the entire building located at 205 W 1st Street. The developer is proposing to rehabilitate the building for event space for groups from small parties to large weddings and corporate events. The building has been empty for more than a decade and this is the first project that has surfaced and risen to this level of investment. This project would not be feasible without the use of TIF. SNH Holdings, L.L.C. purchased the property for $365,000. The purchase price is included as an eligible TIF activity. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with the remodeling and rehabilitation of this building. The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated over the 15 year period beginning January 1, 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 property is located at 205 W. 1st Street in Grand Island Nebraska, the attached map identifies the subject property and the surrounding land uses. Legal Descriptions: Parcel 1 That part of Lots One (1), Two (2), and Three (3), of Block Eighty-Nine (89), of the Original Town, now City of Grand Island, Hall County, Nebraska, more particularly described as follows; Commencing at the Northeasterly corner of said Block 89 and running thence Westerly along the Southerly line of First Street, a distance of 152 feet; thence in a Southerly direction and at right angles with said First Street a distance of 60 feet; thence in an Easterly direction and parallel with said First Street a distance of 119.6 feet to the Westerly line of Locust Street; thence Northerly along the West side of Locust Street to the place of beginning. Parcel 2 Along with property owned by the City of Grand Island immediately adjacent to be conveyed to the developer as part of this Page 188 of 245 project “a portion of Lot Three (3) Block Eighty-Nine (89) of Original Town, now City of Grand Island, Hall County, Nebraska immediately adjacent and contiguous to the above described parcel beginning at the northeast corner of said parcel and extending approximately ten (10) feet in a westerly direction along the Southerly line of First Street: thence in a southerly direction at right angles with said First Street a distance of sixty (60) feet, thence in a Easterly direction approximately ten (10) feet parallel with said First Street to the southwest corner of the above parcel, thence sixty (60) feet along the westerly line of the above parcel to the point of beginning.” Actual final size to be determined with an administrative subdivision at the expense of the developer. Transfer of this property to support this project will be done with the approval of this redevelopment plan. 205 W 1st (Elks Building) Property and approximate size of additional property to be granted to the developer with approval of this plan. The additional property is necessary to accommodate an ADA ramp to the basement and elevator tower and elevator that will have stops on all three floors. Redevelopment of this building is not feasible without a grant of property to accommodate the elevator and ramp. This has been one of the major hurdles that has kept this property vacant. This will result in the permanent loss of these two ADA parking spaces that will need to be relocated within the lot potentially resulting in a net loss of three parking spaces in the lot to accommodate replacing the two ADA spots elsewhere. Page 189 of 245 Existing Land Use and Subject Property Page 190 of 245 The tax increment will be captured for the tax years the payments for which become delinquent in years 2026 through 2040 inclusive. The real property ad valorem taxes on the current valuation will continue to be paid to the normal taxing entities. The increase will come from rehabilitation of this portion of the building for commercial uses as permitted in the B3 Heavy Business Zoning District. Statutory Pledge of Taxes. In accordance with Section 18-2147 of the Act and the terms of the Resolution providing for the issuance of the TIF Note, the Authority hereby provides that any ad valorem tax on the Redevelopment Project Area for the benefit of any public body be divided for a period of fifteen years after the effective date of this provision as set forth in the Redevelopment Contract, consistent with this Redevelopment Plan. Said taxes shall be divided as follows: a. That portion of the ad valorem tax which is produced by levy at the rate fixed each year by or for each public body upon the redevelopment project valuation shall be paid into the funds, of each such public body in the same proportion as all other taxes collected by or for the bodies; and b. That portion of the ad valorem tax on real property in the redevelopment project in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the Authority to pay the principal of; the interest on, and any premiums due in connection with the bonds, loans, notes, or advances on money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such Authority for financing or refinancing, in whole or in part, a redevelopment project. When such bonds, loans, notes, advances of money, or indebtedness including interest and premium due have been paid, the Authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon real property in such redevelopment project shall be paid into the funds of the respective public bodies. Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged to the repayment of loans or advances of money, or the incurring of any indebtedness, whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in whole or in part, the redevelopment project, including the payment of the principal of, premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness. Redevelopment Plan Amendment Complies with the Act: The Community Development Law requires that a Redevelopment Plan and Project consider and comply with a number of requirements. This Plan Amendment meets the statutory qualifications as set forth below. Page 191 of 245 1. The Redevelopment Project Area has been declared blighted and substandard by action of the Grand Island City Council on December 19, 2000.[§18-2109] Such declaration was made after a public hearing with full compliance with the public notice requirements of §18-2115 of the Act. 2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13) (a) and §18-2110] Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan amendment and project are consistent with the Comprehensive Plan, in that no changes in the Comprehensive Plan elements are intended. This plan merely provides funding for the developer to rehabilitate the building for permitted uses on this property as defined by the current and effective zoning regulations. The Hall County Regional Planning Commission held a public hearing at their meeting on December 6, 2023 and passed Resolution 2024-?? confirming that this project is consistent with the Comprehensive Plan for the City of Grand Island. 3. The Redevelopment Plan must be sufficiently complete to address the following items: [§18-2103(13) (b)] a. Land Acquisition: The Redevelopment Plan for Area 1 provides for real property acquisition and this plan amendment does not prohibit such acquisition. The developer has acquired the property and will be including acquisition as an eligible activity. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: The project to be implemented with this plan does not provide for the demolition and removal any structures on this property. This project will rehabilitate and protect one of the iconic historic buildings in the district and preserve the history of Grand Island. Demotion of internal structures to accommodate the redevelopment is anticipated and permitted. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. All of the area around the site in private ownership is planned for Downtown Commercial development; this includes commercial uses such as event venues. 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)] Page 192 of 245 City of Grand Island Future Land Use Map Page 193 of 245 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned B3-Heavy Business zone. No zoning changes are anticipated with this project. No changes are anticipated in street layouts or grades. No changes are anticipated in building codes or ordinances. Nor are any other planning changes contemplated. [§18-2103(b) and §18-2111] e. Site Coverage and Intensity of Use The developer is rehabilitating the existing building. The developer is not proposing to increase the size of the building except as needed to accommodate the elevator and ADA ramp on the west side. The proposed grant of property by the City will ensure that the renovated building meets the applicable regulations regarding site coverage and intensity of use. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities •Sewer and water are available to support this development. •Electric utilities are sufficient for the proposed use of this building. •No other utilities would be impacted by the development. •The developer will be responsible for replacing any sidewalks damaged during construction of the project. No other utilities would be impacted by the development. [§18-2103(b) and §18-2111] 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. This property is vacant and has not been used for any residential purposes. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA have any interest in this property. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer purchased the property for $365,000. The estimated costs of rehabilitation of this property including demolition is $2,092,953. Planning and architecture costs are $93,500. Legal fees of $8,000 for reimbursement to the City and the CRA for costs to prepare the contract and monitor the project over the course of the development are included in the eligible expenses. The total of eligible expenses for this project exceed $2,559,000. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. Page 194 of 245 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 $509,981 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, 2026 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. This will accomplish the goal of both the Railside Business Improvement District and the Grand Island City Council of refurbishing and repurposing vacant buildings in the downtown area. 8. Time Frame for Development Development of this project is anticipated to be completed by December 2024. Excess valuation should be available for this project for 15 years beginning with the 2025 tax year. 9. Justification of Project This building in downtown Grand Island was completed 1917 and will be preserved with this project. The planned event venue will utilize the ballroom on the second floor and the elevator and ramp on the west side make this property accessible. 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.Page 195 of 245 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 $509,981 in public funds from tax increment financing provided by the Grand Island Community Redevelopment Authority will be required to complete the project. The CRA has also granted $100,000 in façade improvement funds and committed to provide up to $300,000 in additional façade funds over the next three fiscal years toward façade improvements. This investment by the Authority will leverage $1,650,022 in private sector financing; a private investment of $3.00 for every TIF and Façade dollar invested. Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $365,000 $365,000 Building Costs $144,981 $1,841,839 $1,986,820 Utilities $0 Public Streets $0 Other (Commercial Kitchen) $106,133 $106,133 Planning/Architecture $93,550 $93,550 Legal/ TIF contract $8,000 $8,000 Financing $500 $500 Total $509,981 $2,050,022 $2,560,003 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2024, valuation of approximately $208,821. Based on the 2022 levy this would result in a real property tax of approximately $4,334. It is anticipated that the assessed value will increase by $1,606,576 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $33,999 annually. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for a period of 15 years, or such shorter time as may be required to amortize the TIF bond, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2024 assessed value:$ 204,821 Estimated value after completion $1,811,397 Increment value $1,606,576 Annual TIF generated (estimated)$ 33,999 TIF bond issue $ 509,981 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $204,821. The proposed redevelopment will create additional valuation of $1,606,576. 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 Page 196 of 245 will support taxing entities long after the project is paid off. (b) Public infrastructure and community public service needs impacts and local tax impacts arising from the approval of the redevelopment project; No additional public service needs have been identified. Existing water and waste water facilities will not be impacted by this development. The electric utility has sufficient capacity to support the development. It is not anticipated that this will impact schools in any significant way. Fire and police protection are available and should not be negatively impacted by this development. The addition of life safety elements to this building including fire sprinklers and a second exit actually reduce the chances of negative impacts to the fire department. The City provides parking in the downtown parking district with off-site lots including the one immediately adjacent to this property. The use an event venue will most likely occur during evenings and weekends when government and office employees that use these lots during normal office hours are not working. (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 commercial space options in the downtown area consistent with the planned development in Downtown Grand Island. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project will not have a negative impact on other employers in any manner different from any other expanding business within the Grand Island area. This will provide refurbish Downtown and commercial space options for the community. (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 as there are no residential units included in this plan. (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This project is consistent the goals of the Council, the Downtown BID, the CRA, and Grow Grand Island to create additional upgraded commercial spaces within downtown Grand Island. Time Frame for Development Development of this project is anticipated to be completed December 2024. The base tax year should be calculated on the value of the property as of January 1, 2024. Excess valuation should be available for this project for 15 years beginning in 2025 with taxes Page 197 of 245 due in 2026. Excess valuation will be used to pay the TIF Indebtedness issued by the CRA per the contract between the CRA and the developer for a period not to exceed 15 years or an amount not to exceed $509,981 the projected amount of increment based upon the anticipated value of the project and current tax rate and any interest associated with the bond. Based on the estimates of the expenses of the rehabilitation the developer will spend at least $1,650,000 on TIF eligible activities in excess of other grants given. Page 198 of 245 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 ________ Page 199 of 245 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 $ ______________ Page 200 of 245 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: $1,811397.00 Source for Estimated Market Value________________________________________ Source of Financing: A. Developer Equity:$ ______________ 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 $ ______________ Page 201 of 245 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 Page 202 of 245 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: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ Page 203 of 245 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 Page 204 of 245 Parcel ID400007320OwnerSNH HOLDINGS, LLC5806 K AVEKEARNEY, NE 68847LegalORIGINAL TOWN N 60' FR LTS 1 & 2 & N 60'OF E 24' OF LT 3 BLK 89Card File400007320Situs205 W 1ST STGRAND ISLAND, NE 68801 County Area1Area 1Neighborhood2001GI- COM LOCUST & HWY 30Location / Group12GI DOWNTOWNValuation / Group2Grand Island Com DowntownDistrict12GRAND ISLAND 2PDSchool40-0002Class Code01-03-03-01-03-02State GEO3315-00-0-10001-089-0009Cadastral00000-00000-00000Book / Page2023 / 2581Sale Date05/26/2023Sale Amount365,000ValuePreviousCurrentBuildings181,527174,266Improvement00Land / Lots22,81430,555Total204,341204,821Tax YearGrowth TypeDescriptionAmount202303 CommercialMARKET UPDATE0202003 CommercialDATA CONVERSION0Permit No.TypeDescriptionDate OpenDate ClosedAmount0000000113 MiscCOMPLETE: 1 COMMENT:COMMERCIAL REVIEW08/27/202003/25/20220ModelMethodDescriptionLot SizeFrontageSpot CodeCutoffValueAdd (+/-)Lot ValueAppr ID126 GI COM- LOCUST & HWY 3002 SqFoot8,148.0000.000N22,0003.750030,555548 43,5602.500 217,8001.250 999,9990.230 Sale DateBookPageExtendOwnership HistoryAmount02/14/202320230740FIDDLE LEAF DEVELOPMENT, LLC220,00002/05/202120211046THOMPSON CHRIS200,00012/01/201720178216OLD ELKS BUILDING DEVEL LLC150,000 THOMPSON/CHRIS0YearStatementDistrictBuildingOtherLandTotalExemptTaxableTotal TaxPenalty Tax20222591312181,527022,814204,3410204,3414,131.100202124350120168,37722,814191,1910191,1913,926.26020201550912087,80821,830109,6380109,6382,291.760201981612087,80821,830109,6380109,6382,330.040201863812087,80821,830109,6380109,6382,373.340201764212087,80821,830109,6380109,6382,389.320201663912083,62721,830105,4570105,4572,212.780HALL COUNTYReal Estate Breakdown ReportPage 1RPBRKDWNL8/7/23 08:16 PMPage 205 of 245 Parcel ID400007320(548)Cadastral ID00000-00000-00000PAD Class Code01-03-03-01-03-02State GEO3315-00-0-10001-089-0009OwnerSNH HOLDINGS, LLC5806 K AVEKEARNEY, NE 68847Situs205 W 1ST ST GRAND ISLAND NE 68801Neighborhood2001 - GI- COM LOCUST & HWY 30District12 - GRAND ISLAND 2PDLegalORIGINAL TOWN N 60' FR LTS 1 & 2 & N 60'OF E 24' OF LT 3 BLK 89Primary Image InformationImage ID2Image Date09/21/2021File NameConvertedPic.jpgDescriptionConverted ImageMarshall & Swift Cost Approach(07/2022) Property ValuationValuation MethodCost Approach Improvement174,266 Land/Lot30,555 Total204,82134.65/SqFt Income Approach Lot InformationLot SizeValuation ModelGI COM- LOCUST & HWY 30Valuation Method02 Square FtLot Value30,555Review Information10/07/2021ListingJS HALL COUNTYAppraisal Property Record CardPage 2RPBRKDWNL8/7/23 08:16 PMPage 206 of 245 Parcel ID400007320(548)OwnerSNH HOLDINGS, LLCSitus205 W 1ST ST GRAND ISLAND NE 68801Neighborhood2001 - GI- COM LOCUST & HWY 30LegalORIGINAL TOWN N 60' FR LTS 1 & 2 & N 60'OF E 24' OF LT 3 BLK 89Cadastral ID00000-00000-00000PAD Class Code01-03-03-01-03-02State GEO3315-00-0-10001-089-0009SequenceCodeDescriptionBase AreaMultiplierTotal Area1COMM1-1 1St 4065,9111.005,9112COMM1-2 1St 4065,3001.005,3003COMM1-3 1St WHSE BSMT UNF5,9111.005,9114COMM1ST STY00.0005COMM2ND STY00.000Total Building Area17,12217,122HALL COUNTYAppraisal SketchPage 3RPBRKDWNL8/7/23 08:16 PMPage 207 of 245 Parcel ID400007320(548)Cadastral ID00000-00000-00000PAD Class Code01-03-03-01-03-02State GEO3315-00-0-10001-089-0009OwnerSNH HOLDINGS, LLC5806 K AVEKEARNEY, NE 68847Situs205 W 1ST ST GRAND ISLAND NE 68801Neighborhood2001 - GI- COM LOCUST & HWY 30District12 - GRAND ISLAND 2PDLegalORIGINAL TOWN N 60' FR LTS 1 & 2 & N 60'OF E 24' OF LT 3 BLK 89Building Image InformationImage ID2Image Date09/21/2021File NameConvertedPic.jpgDescriptionConverted ImageMarshall & Swift Cost ApproachAppraisal Zone1000Zone DescriptionDEFAULTManual Date(07/2022)Building DataBuilding ID1Sequence1Occupancy 1406 - Storage Warehouse 100 %Occupancy 2 Occupancy 3 Total Floor Area5,911 Average Perimeter332 Number of Stories2 Average Wall Height16.00 Year Built1916 Effective Age103 Construction ClassC - Masonry bearing wallsRank2.00 - AverageCondition2.00 - FairExterior Wall100 % - Brick with Block Back-upHeating/Cooling100 % - Hot and Chilled WaterRoof TypeFlatRoof CoverComposition-Roll Basement Area5,911 Basement Levels5,911 Basement Finish Finish Code - 1Unfinished Finish Area - 15,911 Finish Code - 2 Finish Area - 20 HALL COUNTYAppraisal BuildingPage 4RPBRKDWNL8/7/23 08:16 PMPage 208 of 245 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 205 W. 1ST STREET I.T. GRAND ISLAND, NE. 68801 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL TITLE SHEETMATERIAL INDICATIONS RENOVATIONS TO T0.01 Page 209 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL BASEMENT FLOORDEMOLITION PLAND1.01 GENERAL DEMOLITION NOTES DEMOLITION KEYNOTES BASEMENT FLOOR DEMOLITION PLAN Page 210 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL BASEMENT FLOORDEMOLITION PLAND1.02 GENERAL DEMOLITION NOTES DEMOLITION KEYNOTES BASEMENT FLOOR DEMOLITION PLAN Page 211 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL SECOND FLOOR DEMOLITIONPLAND1.03 GENERAL DEMOLITION NOTES DEMOLITION KEYNOTES SECOND FLOOR DEMOLITION PLAN Page 212 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL NORTH EXTERIOR ELEVATION DEMOLITION NORTH EXTERIOR ELEVATIONDEMOLITIOND1.04 Page 213 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL WEST EXTERIOR ELEVATIONDEMOLITIOND1.05 WEST EXTERIOR ELEVATION DEMOLITION Page 214 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL SOUTH EXTERIOR ELEVATION DEMOLITION SOUTH EXTERIOR ELEVATIONDEMOLITIOND1.06 Page 215 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL EAST EXTERIOR ELEVATION DEMOLITION EAST EXTERIOR ELEVATIONDEMOLITIOND1.07 Page 216 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL BASEMENT FLOOR PLANA1.01 BASEMENT FLOOR PLAN KEYNOTES MATERIAL KEYING LEGEND ENTRY CORRIDOR LOBBY ELEVATOR ELEVATOR EQUIPMENT ROOM HALL FIRE SPRINKLER RISER MEN'SWOMEN'S CONFERENCE ELECTRICAL MEN'S DRESSING ROOM RAMP MECH. EXTERIOR STAIRS OFFICE HALL OFFICESTORAGEKITCHEN WOMEN'S DRESSING ROOM HALL Page 217 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL FIRST FLOOR PLANA1.02 FIRST FLOOR PLAN EXTERIOR STAIRS HALL STAIRS PRIVATE EVENT ROOM CEREMONY ROOM CORRIDOR MEN'S WOMEN'S ENTRY ELEVATOR ELEVATOR LOBBY COCKTAIL COCKTAIL SPACE STORAGE STAIRS Page 218 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL SECOND FLOOR PLANA1.03 SECOND FLOOR PLAN KEYNOTES MATERIAL KEYING LEGEND MEN'SWOMEN'S EXTERIOR COURTYARDLOBBY ELEVATOR STORAGE STORAGE LOBBY VEST. STOR. STAGE BALLROOM AUDIO AUDIO STAIRS EXTERIOR STAIRS Page 219 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL NORTH EXTERIOR ELEVATION NORTH EXTERIOR ELEVATIONA2.01 Page 220 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL WEST EXTERIOR ELEVATIONA2.02 WEST EXTERIOR ELEVATION Page 221 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL SOUTH EXTERIOR ELEVATION SOUTH EXTERIOR ELEVATIONA2.03 Page 222 of 245 PLAN DATE: 06-26-2023©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: SPOTANSKIOWNER: SNH HOLDINGS, LLC PLOT DATE: 06-26-2023PROJECT DESCRIPTION: RENOVATIONS TO205 W. 1ST STREETGRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIGENERAL NOTES PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 06-26-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL EAST EXTERIOR ELEVATION EAST EXTERIOR ELEVATIONA2.04 Page 223 of 245 Page 224 of 245 Page 225 of 245 wist^7/pcv:^o?:-^ *WORKIN(# Job Items Tkoff Info.Qty,Final Total Project Management wk sorcon 3 $12,656.25 Equipment Rental BDGT sorcon 1 $15,000.00 Portable Restroom BDGT comfy 4 $475.00 Security Fence If sorcon 500 S 6,250.00 Landfill/Dumpster trip Full Circle 5 s 4,062.50 Demolition Imp rwsc 1 $6,250.00 Tuckpointing BRICK Imp micheal 1 $60,000.00 Stone Repair If micheal 1 $3,125.00 Entry way Columns/SOFFIT bdgt sorcon 1 $11,875.00 Windows/Aluminum Doors bid cityglass 1 $182,917.50 HMF/HMD Imp CDF s 6,750.00 Steel Escape Stairs LF Ledermans 1 $35,000.00 Concrete for Delivery bdgt RWSC 1 $8,125.00 Trasti Enclosure Imp sorcon 1 $12,500.00 $364,986.25 EMAIL n^orensen@rwsorensenconst.com ATRUCTION WEBSITE rwsorensenconst.com NOAH SORENSEN Cell 308.440.7797 2500 W.24th Street Kearney,NE 68845 308.237.3686 Fax 308.236.7717 *Non Stamped Plans *No City Review EstimatedExteriorDesign Fees,(includingcurrent preliminarydrawings attached)_ TOTAL $40,000.00 $404,986.25 Page 226 of 245 Sales Order 09/21/2023 To:Project:From: Venue Nathan Husak Grand Island , NE 68803 (319) 538‐4811 (Contact) NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Midwest Restaurant Supply Jason Shultheis 2705 W. Hwy. 30 Grand Island , NE 68803 (308)384‐5780 308‐270‐2490 (Contact) Project Code: 24954 Job Reference Number: 9850 Item Qty Description Sell Total 1 1 ea REFRIGERATED MERCHANDISER 3,550.00 Turbo Air Model No. TGM‐23SD‐N6 Super Deluxe Refrigerated Merchandiser, one‐section, 19.04 cu. ft., self‐contained, self‐cleaning condenser device equipped, (1) double pane Low‐E hinged glass door with lock, (4) adjustable PE coated wire shelves, door activated sound system, exterior digital thermometer & controller, door opening alarm, self‐diagnostic monitoring system, auto‐detect of malfunction & early warning program, automatic fan motor delays, Turbo cooling, LED LGP sign panel, LED interior lighting, white interior, specify exterior color, bottom mount compressor, R600a Hydrocarbon refrigerant, 1/5 HP, 115v/60/1‐ph, 2.7 amps, cord, NEMA 5‐15P, cETLus, ETL‐Sanitation, ENERGY STAR® 1 ea Note: Contact factory representative for parts & accessories discounts 1 ea 5 year parts & labor warranty, standard 1 ea 7 year compressor warranty (self‐contained only), (updated warranty & spec sheets pending from Turbo Air) 1 ea Self‐cleaning condenser device equipped, standard 1 ea Black finish 2 ea G8F6500101 4″ Caster without brake, 1/2″ diameter & 13 TPI (sold by each) 80.00 2 ea G8F6500201 4″ Caster with brake, 1/2″ diameter & 13 TPI (sold by each)90.00 ITEM TOTAL:3,720.00 Sell 3,550.00 40.00 45.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 1 of 14Page 227 of 245 Item Qty Description Sell TotalSell 2 1 ea REACH‐IN REFRIGERATOR 4,980.00 Turbo Air Model No. M3R47‐2‐N(‐AL)(‐AR) M3 Refrigerator, reach‐in, two‐section, 42.3 cu. ft. capacity, 51‐3/4"W x 30‐3/4"D x 78"H, LED digital thermometer, self‐diagnostic monitoring system, hot gas condensate system, automatic fan motor delays, door pressure release, LED interior lighting, self‐cleaning condenser device, (2) hinged solid door with recessed handle & lock, (6) PE coated wire shelves, stainless steel front & sides (galvanized steel top, bottom & back), aluminum interior with stainless steel floor, top mount self‐ contained compressor, R290 Hydrocarbon refrigerant, 1/3 HP, 115v/60/1‐ph, 2.8 amps, NEMA 5‐15P, ETL‐Sanitation, cETLus, ENERGY STAR® 1 ea Note: Contact factory representative for parts & accessories discounts 1 ea 5 year parts & labor warranty, standard 1 ea 7 year compressor warranty (self‐contained only) 1 ea Self‐cleaning condenser device equipped, standard 1 st Caster Set, swivel, locking front wheels, standard ITEM TOTAL:4,980.00 3 2 ea HEATED HOLDING PROOFING CABINET, MOBILE 4,100.00 Winholt Equipment Model No. NHPL‐1825‐UNC Non‐Insulated Universal Runner Heater/Proofer Cabinet, mobile, full height, 24"W x 32"D x 70"H, aluminum construction, forced air, removable chrome wire pan slides can be adjusted on 2" increments, accommodates (28) 18" x 26" pans, dual proof/heat control, field reversible clear door with magnetic door latch, removable analog drawer, digital control, circuit breaker, LED digital thermometer display, corner bumpers, (4) casters, 120v/60/1‐ph, NEMA 5‐15P, cETLus, NSF (order #684641) ITEM TOTAL:4,100.00 4 2 ea BUN / SHEET PAN RACK 450.00 Crestware Model No. ABPR20 Bun Pan Rack, 20 tier, 26" x 20" x 69"H, heavy duty casters & reinforced uprights, aluminum, shipped KD ITEM TOTAL:450.00 4,980.00 2,050.00 225.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 2 of 14Page 228 of 245 Item Qty Description Sell TotalSell 5 2 ea PLASTIC SHELVING UNIT 1,140.00 Cambro Model No. EMU184878V4580 Camshelving® Elements Mobile Unit, 18"W x 48"L x 78‐1/4"H, 4‐tier, withstands temperature from ‐36°F (‐38°C) to 190°F (88°C), includes: (4) vented reinforced polypropylene shelf plates with Camguard® antimicrobial protection, (4) composite posts, pre‐assembled post connectors & wedges, (8) mobile traverses & (4) bags of 8 count dovetails (16 each A & B), (4) premium swivel casters with total locking brake, 750 lbs. max capacity, brushed graphite, NSF 2 ea Lifetime warranty against corrosion and rust ITEM TOTAL:1,140.00 570.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 3 of 14Page 229 of 245 Item Qty Description Sell TotalSell 6 1 ea DISHTABLE, WITH POTSINKS 3,885.00 Advance Tabco Model No. DTC‐3‐1620‐66R Dishtable with 3‐compartment Sink, 66”W, (3) 16" x 20" x 14" bowls, 16 gauge 304 stainless steel top, stainless steel legs & front‐to‐back crossrails, attaches to right of dish machine operator, stainless steel bullet feet, 6" right drainboard, bowls are located 12" from machine, NSF (must verify machine to make sure the control box does not interfere) 1 ea SPECIFY DISH MACHINE BRAND & MODEL to ensure proper fit, refer to attached document (AQ only) or consult www.advancetabco.com for compatibility listing. Certain dish machines require modifications at additional cost not shown here 1 ea K‐5 Drain, twist operated, 2" NPT & 1‐1/2" IPS outlet connections 110.00 1 ea K‐4 Support Bracket, for lever waste drain handle, (1) support required for each lever drain 50.00 3 ea DTA‐64 Pre‐Rinse Slide Bar, for 16"W x 20"D fabricated sink bowls 645.00 1 ea Krowne 17‐109WL Krowne Royal Series, pre‐rinse Assembly, with add‐ on faucet, wall mount, 8" centers, spring action flexible gooseneck, 38"H stainless steel hose with 15" overhang & 1.2 GPM spray head, built in check valves, 2.0 GPM add‐on faucet with 12" swing spout, quarter‐turn ceramic cartridge valves, includes wall bracket & mounting kit, chrome plated brass base, low lead compliant, includes internal check valves to prevent backflow & cross contamination, NSF (interchangeable with most brands) (ships pre‐assembled) 375.00 1 ea Krowne 21‐193L Complete Royal Series Mounting Kit 55.00 1 ea Krowne 3 year warranty, standard 1 ea DT‐6R‐22 Sorting Shelf, wall mounted, tubular design, 42"W, accommodates (2) full size dish racks, solid end brackets, stainless steel, KD 750.00 ITEM TOTAL:5,870.00 7 1 ea COMMERCIAL WASTE CONTAINER 53.00 Winco Model No. PTC‐32G Trash Can, 32 gallon, 26‐3/4”L x 21‐3/4”W x 30‐3/4”H, large, heavy duty, HDPE, gray (lid not included) (Qty Break = 1 each) 1 ea DLR‐18 Dolly, 18" dia. x 6"H, round, holds up to 400 lbs., heavy duty, black, plastic (Qty Break = 6 each) 40.00 ITEM TOTAL:93.00 3,885.00 110.00 50.00 215.00 375.00 55.00 750.00 53.00 40.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 4 of 14Page 230 of 245 Item Qty Description Sell TotalSell 8 1 ea DISHWASHER, DOOR TYPE, VENTLESS 12,350.00 CMA Dishmachines Model No. 180‐VL Energy Mizer® Ventless Dishwasher, 3 door, door type, 25‐1/2"W x 29"D x 86‐5/16"H, ventless heat recovery & condensation removal, high temperature sanitizing with built‐in 12.0 kW booster heater, approximately (40) racks/hour, 17‐1/2" dish clearance, Safe‐T‐Temp rinse feature, fully automatic cycle, 6.0 kW wash tank heater, automatic heat exchanger condenser & wash‐down, door safety interlock system included, rinse pressure regulating valve & wash tank screens, stainless steel construction, adjustable feet, straight or corner application, 1 HP wash pump motor, cULus, ASTM, NSF 1 ea 208v/60/3‐ph, 49.0 amps, standard 1 ea 3 doors, standard 1 ea Safe‐T‐Temp feature assures 180 degree sanitizing rinse once the booster thermostat has been satisfied. Cycle time will vary due to incoming water temperature. 1 ea Nova Detergent & Rinse Pump (Wall Mount)810.00 ITEM TOTAL:13,160.00 9 1 ea CLEAN DISHTABLE 570.00 Advance Tabco Model No. DTC‐S70‐48L‐X Special Value Dishtable, clean, straight design, attaches to left of dish machine operator, 10‐1/2"H backsplash, 3" rolled front & side rims, stainless steel legs, with crossrails, 47"W x 30"D x 34"H, 16/304 stainless steel 1 ea SPECIFY DISH MACHINE BRAND & MODEL to ensure proper fit, refer to attached document (AQ only) or consult www.advancetabco.com for compatibility listing. Certain dish machines require modifications at additional cost not shown here ITEM TOTAL:570.00 10 2 ea WORK TABLE, STAINLESS STEEL TOP 1,500.00 Advance Tabco Model No. AG‐306 Work Table, 72"W x 30"D, 16 gauge 430 stainless steel top, 18 gauge galvanized adjustable undershelf, galvanized legs with adjustable plastic bullet feet, NSF 2 ea TA‐22 Square edge table ITEM TOTAL:1,500.00 12,350.00 810.00 570.00 750.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 5 of 14Page 231 of 245 Item Qty Description Sell TotalSell 11 1 ea HAND SINK 150.00 Atosa USA, Inc. Model No. MRS‐HS‐14(W) MixRite Hand Sink, 14"W, wall mount, 10"W x 12" front‐to‐back x 5"deep bowl, 18/300 series stainless steel, 6"H backsplash with 2" return, 1‐1/2" dia. drain, includes: gooseneck faucet with wrist blade handles, strainer, Z‐clip mounting bracket, NSF ITEM TOTAL:150.00 12 1 ea PAPER TOWEL DISPENSER 80.00 San Jamar Model No. T7400TBK Simplicity Essence™ Hands Free Classic Paper Towel Dispenser, 12‐ 3/8"W x 9‐1/2"D x 14‐5/8"H, wall mount, with lock, automatic mechanical cutting, consistent 10" portion of roll towel, fits (1) 8" wide roll, no batteries required, impact resistant plastic, translucent black pearl ITEM TOTAL:80.00 13 1 ea HAND SOAP / SANITIZER DISPENSER 50.00 San Jamar Model No. S900REBK Packed 6 ea San Jamar ecoLogic™ Rely® Manual Soap & Sanitizer Dispenser, liquid & lotion 900ml, wall mounted, manual, metered pumps, black ITEM TOTAL:50.00 14 1 ea TRASH RECEPTACLE, INDOOR 45.00 Winco Model No. PTC‐23K Slender Trash Can, 23 gallon, 20‐1/8”L x 10‐7/8”W x 29‐7/8”H, HDPE, black (lid not included) (Qty Break = 1 each) ITEM TOTAL:45.00 15 2 ea BUSSING UTILITY TRANSPORT CART 330.00 Winco Model No. UC‐2415K Utility Cart, 3‐tier, 32"W x 16‐1/8"D x 36‐3/4"H, 330 lb capacity, plastic, black, KD (Qty Break = 1 each) ITEM TOTAL:330.00 150.00 80.00 50.00 45.00 165.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 6 of 14Page 232 of 245 Item Qty Description Sell TotalSell 17 2 ea SHELVING, WALL MOUNTED 630.00 Advance Tabco Model No. WS‐12‐72 Shelf, wall‐mounted, 72"W x 12"D, 1‐5/8" bullnose front edge, 1‐1/2"H rear up‐turn, 18/430 satin finish stainless steel, NSF ITEM TOTAL:630.00 18 1 ea MOP SINK 525.00 Advance Tabco Model No. 9‐OP‐20‐EC‐X Special Value Mop Sink, floor mounted, 25"W x 21"D x 10"H (overall), 20"W x 16" front‐to‐back x 6" deep (bowl size), free flow drain with 2" IPS outlet, stainless steel construction 1 ea Krowne 16‐127 Krowne Royal Series Service Faucet, splash‐mounted, 8" centers, 6‐1/2" long heavy cast spout with bail hook & hose thread, bracket can mount above or below, vacuum breaker, rough brass, low lead compliant, NSF, Includes internal check valves to prevent backflow & cross contamination 170.00 1 ea Krowne 3 year warranty, standard ITEM TOTAL:695.00 32 BEGIN PHASE 2 315.00 525.00 170.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 7 of 14Page 233 of 245 Item Qty Description Sell TotalSell 19 1 ea REACH‐IN FREEZER 3,175.00 Turbo Air Model No. M3F19‐1‐N M3 Freezer, reach‐in, one‐section, 18.7 cu. ft. capacity, 25‐1/4"W x 31‐ 1/2"D x 72‐1/8"H, top mount self‐contained refrigeration with self‐ cleaning condenser, (1) field reversible hinged solid door with lock & door alarm, exterior LED digital thermometer, self‐diagnostic monitoring system, smart fuzzy defrost, automatic fan motor delays, LED interior lighting, (3) PE coated wire shelves, aluminum interior with stainless steel floor, stainless steel front & sides (galvanized steel top, bottom & back), R290 Hydrocarbon refrigerant, 3/8 HP, 115v/60/1‐ph, 4.5 amps, cord with NEMA 5‐15P, cETLus, ETL‐Sanitation, ENERGY STAR® 1 ea Note: Contact factory representative for parts & accessories discounts 1 ea 5 year parts & labor warranty, standard 1 ea 7 year compressor warranty (self‐contained only) 1 ea Self‐cleaning condenser device equipped, standard 1 st Caster Set, swivel, locking front wheels, standard SWITCH DOOR OPENING TO RIGHT SIDE ITEM TOTAL:3,175.00 3,175.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 8 of 14Page 234 of 245 Item Qty Description Sell TotalSell 20 1 ea ELECTRIC FRYER, BATTERY 12,950.00 Henny Penny Model No. OFE322.0 OFE‐322 Open Fryer, electric, 2 wells, (2) full wells, 65 pound fat and 12.5 pound food capacity per well, stainless steel construction and rectangular fry pot, built‐in filter system, (2) basket supports, (4) casters (2 locking) ENERGY STAR® 1 ea Destination ‐ US United States 1 ea FF All 2 wells = full (standard) 1 ea 208v/60/3‐ph, 28.8 kW, 78.8 amps, 3+G wires 1 ea 1WDP One well capacity 1 ea Station 1 control: C1 Computron® 1000 control with melt mode, idle mode, two 4‐character LED displays per control 1 ea Station 2 control: C1 C1000 Computron = Computron® 1000 1 ea Without direct connect shortening disposal system plumbing 1 ea Station 1: (2) Half Baskets, per well 120.94 1 ea Station 2: (2) Half Baskets, per well 120.94 1 cs 12088 Prime Filter Powder, 22 lbs. per case 70.00 1 cs 12102 Filter Envelopes, PHT, 100 per carton 75.00 1 ea 33494 Filter Rinse Hose, 90" long, with male quick disconnect & 90° elbow, for use with female quick disconnect on any fryer 312.94 1 ea FS100.01 FS‐100 Fryer Shortening Shuttle®, 60 lb/8.5 gallon capacity, 48" length for disposal in standard 55‐gallon drum or other dumpster container with 37" or lower height, flexible drain hose with male quick disconnect, two 8" wheels with 1‐3/4" treads, for fryer with female quick disconnect, for models 320 series, PFE‐500 or PFG‐600 fryers 1,055.06 ITEM TOTAL:14,704.88 12,950.00 120.94 120.94 70.00 75.00 312.94 1,055.06 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 9 of 14Page 235 of 245 Item Qty Description Sell TotalSell 21 1 ea GRIDDLE, GAS, COUNTERTOP 1,230.00 Grindmaster‐UNIC‐Crathco Model No. CE‐G24TPF Cecilware® Pro Griddle, gas, countertop, 24" x 20" cooking surface, (2) stainless steel burners, 1" thick steel griddle plate, thermostatic controls, independent cooking zones, stainless steel construction, 60,000 BTU/hr, cETLus, ETL‐Sanitation 1 ea This model can be operated using natural gas or LP gas & ships as natural gas unit with no additional parts necessary for conversion 1 ea 2 years parts & 1 year labor warranty, standard 1 kt Dormont 1650KIT2S48 Dormont Blue Hose™ Moveable Gas Connector Kit, 1/2" inside dia., 48" long, covered with stainless steel braid, coated with blue antimicrobial PVC, (1) SnapFast® QD, (2) Swivel MAX®, (1) full port valve, coiled restraining cable with hardware, 60,000 BTU/hr minimum flow capacity, limited lifetime warranty 300.00 ITEM TOTAL:1,530.00 22 1 ea HOTPLATE, COUNTERTOP, GAS 1,030.00 Grindmaster‐UNIC‐Crathco Model No. HPCP424 Cecilware® Pro Hotplate, gas, countertop, 24"W x 20"D cooking surface, (4) 22,000 BTU/hr anti‐clog burners, individual manual controls, cast iron trivets, stainless steel construction, 4" legs, 88,000 BTU/hr, cETLus, ETL‐Sanitation 1 ea This model can be operated using natural gas or LP gas & ships as natural gas unit with no additional parts necessary for conversion 1 ea 2 years parts & 1 year labor warranty, standard 1 ea Please contact factory for available accessories & options 1 kt Dormont 1650KIT2S48 Dormont Blue Hose™ Moveable Gas Connector Kit, 1/2" inside dia., 48" long, covered with stainless steel braid, coated with blue antimicrobial PVC, (1) SnapFast® QD, (2) Swivel MAX®, (1) full port valve, coiled restraining cable with hardware, 60,000 BTU/hr minimum flow capacity, limited lifetime warranty 300.00 ITEM TOTAL:1,330.00 1,230.00 300.00 1,030.00 300.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 10 of 14Page 236 of 245 Item Qty Description Sell TotalSell 23 1 ea EQUIPMENT STAND, REFRIGERATED BASE 5,250.00 Turbo Air Model No. TCBE‐52SDR‐N Super Deluxe Chef Base Refrigerator, 52‐1/4"W x 32"D x 20‐1/4"H, 9.1 cu. ft., side mounted self‐contained refrigeration system, self‐ cleaning condenser device, (2) durable drawers with recessed handles, accommodates pans up to 6" deep, capacity: (3) full size pans per drawer (NOT included) 16 ga. stainless steel one‐piece reinforced insulated top, stainless steel front & sides, digital temperature display, R290 Hydrocarbon refrigerant, 1/4+ HP, 115v/60/1‐ph, 5.1 amps, NEMA 5‐15P, cETLus, ETL‐Sanitation 1 ea 5 year parts & labor warranty, standard 1 ea 7 year compressor warranty (self‐contained only) 1 st Caster Set, swivel, locking front wheels, standard ITEM TOTAL:5,250.00 24 1 ea COMBI OVEN, ELECTRIC 29,185.00 Henny Penny Model No. FPDE115.615.005.8 FlexFusion Platinum Combi‐Steamer Oven Team Unit, electric, (1) FPE‐ 615 stacked on (1) FPE‐115 unit, crosswise racking for Flexirack sized pans or 1/1 GN pans (6) in top & (10) in bottom (wire shelves sold separately), Chef's Touch™ controls with AutoChef™ preprogrammed cooking recipes, multi‐sensor core food temperature probe, Steam Exhaust System, adjustable humidity, USB port, self‐cleaning system, WaveClean™ System & retractable water hose, right hinged door with 1‐stage handle and triple pane glass window, stainless steel construction, cULus, UL EPH, CE 1 ea 208v/60/3‐ph, 15.9 kW, 48.0 amps, 3 wire plus ground 1 ea MM202363 Pan, FlexiRack, 0.79" (20 mm) enamel 95.00 1 ea MM206067 Grill Tray, 1/1 GN size, also crosswise 120.00 1 ea MM205306 Water connection, T‐shaped tube 65.00 1 ea MM10012976 Cartridge, 2‐in‐1 cleans & rinse, for WaveClean™ combi, (60) ea per case 400.00 ITEM TOTAL:29,865.00 25 1 ea WORK TABLE, STAINLESS STEEL TOP 410.00 Advance Tabco Model No. TFMS‐180 Equipment Filler Table, 18"W x 30"D, 16 gauge 304 stainless steel top with 1‐1/2"H rear up‐turn, stainless steel legs & adjustable bullet feet, NSF (filler table needs to be placed between (2) other tables for stability) ITEM TOTAL:410.00 5,250.00 29,185.00 95.00 120.00 65.00 400.00 410.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 11 of 14Page 237 of 245 Item Qty Description Sell TotalSell 27 1 ea SANDWICH / SALAD PREPARATION REFRIGERATOR 4,135.73 Turbo Air Model No. MST‐72‐N M3 Series Sandwich/Salad Unit, three‐section, rear mount self‐ contained compressor, 19.0 cu. ft., 18‐pan top opening with (2) hoods, (3) swing doors, (3) adjustable PE coated wire shelves, 9‐1/2" deep cutting board with side rail, digital temperature control, self‐cleaning condenser, cold bunker system, stainless steel top, front & sides (galvanized steel back & bottom), aluminum interior, stainless steel floor & ABS door liner, LED interior lighting & fan control, R290 Hydrocarbon refrigerant, 2/5 HP, 115v/60/1‐ph, 5.7 amps, NEMA 5‐15P, cETLus, ETL‐Sanitation 1 ea Note: Contact factory representative for parts & accessories discounts 1 ea 5 year parts & labor warranty, standard 1 ea 7 year compressor warranty (self‐contained only) 1 ea Self‐cleaning condenser device equipped, standard 1 ea 1/6 size, 4" deep condiment pan & pan dividers included, standard 1 st Caster Set, swivel, locking front wheels, standard ITEM TOTAL:4,135.73 29 2 ea WORK TABLE, STAINLESS STEEL TOP 1,400.00 Advance Tabco Model No. AG‐246 Work Table, 72"W x 24"D, 16 gauge 430 stainless steel top, 18 gauge galvanized adjustable undershelf, galvanized legs with adjustable plastic bullet feet, NSF 2 ea TA‐22 Square edge table ITEM TOTAL:1,400.00 30 2 ea HEAT LAMP 490.00 Nemco Food Equipment Model No. 6150‐36 Bar Heater, 36" x 6‐3/4" x 2‐3/4", infrared heating element, with (1) toggle switch, indicator light, aluminum shell, 120v/60/1ph, 850 watts, 7.1 amps, cETLus, NSF 2 ea 1 year parts & labor warranty, standard ITEM TOTAL:490.00 4,135.73 700.00 245.00 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 12 of 14Page 238 of 245 Item Qty Description Sell TotalSell Merchandise 104,633.36 Freight 1,500.00 Subtotal 106,133.36 Total 106,133.36 31 1 ea OVERSHELF 3,475.00 Advance Tabco Model No. CU‐18‐144‐2 Overshelf, double, 144"W x 18"D, 18/430 stainless steel, to span over existing equipment (supplied by others), NSF (must provide equipment model numbers that shelf is going over to clarify mounting provision) 2 ea TA‐43 Filler Panel 3"x30" with flanged feet ea. 1 ea NOTE: Must specify flat or "L" bracket & equipment unit is being mounted over ‐ Prints required 1 ea TA‐71 Heat lamp mounting provision (specify brand & model of heat lamp) ITEM TOTAL:3,475.00 32 1 ea HOT FOOD SERVING COUNTER / TABLE 1,304.75 Advance Tabco Model No. HF‐2E‐120 Hot Food Table, electric, 31‐13/16"W x 30‐5/8"D x 34‐3/8"H, (2) 12" x 20" wells (accommodates pan inserts up to 7‐3/4" deep), individual infinite controls, stainless steel top, stainless steel 8”D support shelf with removable 3/8” thick poly cutting boar 1 ea 120v/60/1‐ph, 1000 watts, 8.33 amps, cord with NEMA 5‐20P, standard ITEM TOTAL:1,304.75 Prices Good Until: 09/29/2023 ********TERMS******** *Quote for equipment and products valid through date shown above. *Any changes will negate this quote (including freight). Changes include but are not limited to quantities and omission/addition of an item. *Prices are quoted per manufacturer's standard specification and do not include any optional accessories unless specified. *Order may be subject to credit approval and may require a deposit. *Shipping/Handling, lift gate, installation, delivery, "set in place" or applicable sales tax are not included unless noted *If not ordering lift-gate or installation, Please plan to remove equipment from the shipping carrier. *Please have a storage plan if items need to be held prior to installation. *Any changes to delivery time and location may impact additional shipping and storage fees that will be added to customer invoice. 3,475.00 1,304.75 NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 13 of 14Page 239 of 245 Acceptance:Date: Printed Name: *All returns are subject to restock fee plus freight *Final Pricing may change due to increases in vendor pricing, surcharges, freight or fees between the time of initial quote and when the order is placed. The customer will be notified by MWRS of any changes prior to the order being processed. *All accounts with balance over 30 day terms will be accessed a monthly finance charge equaling 18% APR NATHAN HUSAK‐VENUE‐CATERING and FULL KITCHEN Venue Ini al: ______ Page 14 of 14Page 240 of 245 8/29/23, 9:10 AM Gmail - TIF -Application - 205 W 1st Street. https://mail.google.com/mail/u/0/?ik=4ba4245057&view=pt&search=all&permmsgid=msg-f:1775570241412083901&simpl=msg-f:17755702414120839…1/1 Nathan Husak <snhholdingsllc2021@gmail.com> TIF -Application - 205 W 1st Street. Kristi Wold <kristiw@hallcountyne.gov>Tue, Aug 29, 2023 at 8:28 AM To: Nathan Husak <snhholdingsllc2021@gmail.com> Good morning, The value I am estimating for the building and land is $1,811,397. When the permits are pulled 2 field appraisers from my office and a contracted commercial appraiser will come out and review thework, they may need to contact you at that time if that’s all right with you. Please, let me know if you need anything else. Kristi Wold Hall County Assessor & Register of Deeds [Quoted text hidden] Page 241 of 245 Base Value Finished Value Increment Years 15 Total Incr $509,980.72 204,821$ 1,811,397$ 1,606,576$ Tax Entity Bond 2022Levy 2022 Base Taxes Tax Entity Bond 2022 Levy 2022 Taxes City Levy 0.319454 $654 City Levy 0.319454 $5,132 City Bond 0 $0 City Bond 0 $0 CRA 0.019706 $40 CRA 0.019706 $317 Hall County 0.377322 $773 Hall County 0.377322 $6,062 Rural Fire $0 Rural Fire $0 Fire Bond*$0 Fire Bond*$0 GIPS School 1.080000 $2,212 GIPS School 1.080000 $17,351 4th Bond 0.079826 $164 4th Bond 0.079826 $1,282 5th Bond 0.076379 $156 5th Bond 0.076379 $1,227 ESU 10 0.014876 $30 ESU 10 0.014876 $239 CCC 0.090272 $185 CCC 0.090272 $1,450 CPNRD 0.02344 $48 CPNRD 0.02344 $377 Ag Society 0.00252 $5 Ag Society 0.00252 $40 Airport 0.009007 $18 Airport 0.009007 $145 Airport Bond 0.02342 $48 Airport Bond 0.02342 $376 2.116222 $4,334 2.116222 $33,999Total Combined Total Combined Page 242 of 245 SNH Holdings LLC Elks Area 1 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 464 RESOLUTION OF THE COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA, SUBMITTING A PROPOSED REDEVELOPMENT CONTRACT TO THE HALL COUNTY REGIONAL PLANNING COMMISSION FOR ITS RECOMMENDATION WHEREAS, this Community Redevelopment Authority of the City of Grand Island, Nebraska ("Authority"), pursuant to the Nebraska Community Development Law (the "Act"), prepared a proposed redevelopment plan (the "Plan") a copy of which is attached hereto as Exhibit 1, for redevelopment of an area within the city limits of the City of Grand Island, Hall County, Nebraska; and WHEREAS, the Authority is required by Section 18-2112 of the Act to submit said to the planning board having jurisdiction of the area proposed for redevelopment for review and recommendation as to its conformity with the general plan for the development of the City of Grand Island, Hall County, Nebraska; NOW, THEREFORE, BE IT RESOLVED AS FOLLOWS: The Authority submits to the Hall County Regional Planning Commission the proposed Plan attached to this Resolution, for review and recommendation as to its conformity with the general plan for the development of the City of Grand Island, Hall County, Nebraska. Passed and approved this 8th day of November, 2023 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By___________________________ Chairperson ATTEST: __________________________ Secretary Page 243 of 245 SNH Holdings LLC Elks Area 1 COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA RESOLUTION NO. 465 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 1, from SNH Holdings L.L.C. (The "Developer") for redevelopment of property at 205 W. 1st Street (Elks Building), 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 1; 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 8th day of November, 2023. COMMUNITY REDEVELOPMENT AUTHORITY OF THE CITY OF GRAND ISLAND, NEBRASKA. By ___________________________ Chairperson ATTEST: ___________________ Secretary Page 244 of 245 SNH Holdings LLC Elks Area 1 Exhibit 1 Draft Redevelopment Plan Forwarded to the Planning Commission Page 245 of 245