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08-02-2023 Hall County Regional Planning Commission August 2, 2023 Packet Regional Planning Commission Meeting Agenda Council Chambers City Hall 100 East First Street Regular Meeting of August 2, 2023 6:00 PM 1. CALL TO ORDER This is an open meeting of the Grand Island City Council. The City of Grand Island 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 City Council may vote to go into Closed Session on any agenda item as allowed by state law. 2. MEETING MINUTES a. Approval of Minutes from the July 5, 2023 Regional Planning Commission Meeting 3. RESERVE TIME TO SPEAK ON AGENDA ITEMS A sign-up sheet was available in the lobby for individuals wishing to provide input on any of tonight's agenda items. If you did not sign up to speak on an agenda item, please come forward, state your name and the agenda topic on which you will be speaking on. 4. PUBLIC HEARINGS a. Redevelopment Plan – CRA – Redevelopment Plan Amendment Upper Story Residential Development for Railside and 4th Street Areas in CRA Area #1 (C-33-23GI) b. Redevelopment Plan – Venator Ventures, LLC – Redevelopment Plan Amendment CRA Area 7- Lot 5 of Industrial Foundation Subdivision in the City of Grand Island, Nebraska (PID 400209149) located south of Schimmer Drive and west of Cobalt Drive in Grand Island – (C-34-23GI) c. Redevelopment Plan – EBMT Properties, LLC – Redevelopment Plan Amendment CRA Area 1- Upper story residential development at the old Office Net located 315 N. Locust Street (part of Lots 3 and 4 of Block 55 Grand Island Original Town) in Grand Island (C-35-23GI) 5. CONSENT AGENDA a. Request to Vacate a Final Plat –Lowry Second Subdivision- Hall County 6. SPECIAL ITEMS a. Comprehensive Plan Update and Payment of Claims 7. DIRECTOR COMMUNICATION This is an opportunity for the Director to comment on current events, activities, and issues of interest to the commission. 8. NEXT MEETING DATE September 6, 2023 Page 1 of 78 Page 2 of 78 THE REGIONAL PLANNING COMMISSION OF HALL COUNTY, GRAND ISLAND, WOOD RIVER AND THE VILLAGES OF ALDA, CAIRO, AND DONIPHAN, NEBRASKA Minutes for July 5, 2023 The meeting of the Regional Planning Commission was held Wednesday, July 5, 2023 at City Hall – Grand Island, Nebraska. Notice of this meeting appeared in the “Grand Island Independent” on June 24, 2023. Present: Pat O’Neill Megan Goplin Robin Hendricksen Tony Randone Darrell Nelson Judd Allan Jaye Monter Leonard Rainforth Greg Robb Absent: Tyler Doane, Les Ruge and Brent Stenvenson Other: Staff: Chad Nabity and Norma Hernandez Press: 1. Call to order. Chairman O’Neill called the meeting to order at 6:00 p.m. O’Neill stated that this was a public meeting subject to the open meetings laws of the State of Nebraska. He noted that the requirements for an open meeting are posted on the wall in the room and easily accessible to anyone who may be interested in reading them. O’Neill also noted the Planning Commission may vote to go into Closed Session on any agenda item as allowed by State Law. The Commission will discuss and may take action on any item listed on this agenda. The order of items on the agenda may be reorganized by the Chair to facilitate the flow Page 3 of 78 of the meeting to better accommodate the public. 2. Minutes of the June 7, 2023 meeting. A motion was made by Randone and second by Goplin to approve the minutes of the June 7, 2023 meeting. The motion carried with seven members voting in favor (O’Neill, Nelson, Monter, Rainforth, Hendricksen, Goplin and Randone) one member abstaining (Robb) and no members voting no (Doane, Allan, Stevenson and Ruge were absent). 3. Request Time to Speak. Roger Bullington – 4. a. Public Hearing – Zoning Text Amendment - Grand Island - Concerning proposed amendments to 36-68 B-2 General Business Zone regarding the maximum height allowable. (C-30-23GI) O’Neill opened the public hearing. Nabity stated this is being done specifically to accommodate the proposed casino building, parking garage and hotel at Fonner Park. The proposed changes to 36-68 would allow buildings in the B2 zone to exceed the maximum height of 55 feet if the buildings are set back from any property line an required setback a distance of four feet for every foot height above 55 feet. O’Neill closed the public hearing. A motion was made by Nelson and second by Randone to approve the Zoning Text Amendment. The motion carried with seven members voting in favor (O’Neill, Nelson, Robb, Monter, Rainforth, Goplin, Hendricksen, and Randone) and no members abstaining or voting no (Allan, Ruge, Stevenson, and Doane were absent). b. Redevelopment Plan – GARK Homes SHV 3V, LLC – Concerning amendments to a site specific redevelopment plan for CRA Area No. 2 to allow for redevelopment of property at located south of Husker Highway and west of Locust Street in Grand Island, Hall County, Nebraska (lots O’Neill opened the public hearing. Nabity stated GARK Homes SHV 3V, LLC is proposing to develop 86 apartments located south of Husker Highway and west of Locust Street. The developer will complete Lake Street, Knott Avenue and Arlene Avenue with this project along with extending sewer and water to serve this property. The property is zoned R3 Medium Density Residential zone. Regional Planning has indicated redevelopment plan is consistent with the Comprehensive Plan of the City of Grand Island. Page 4 of 78 O’Neill closed the public hearing. A motion was made by Goplin and second by Robb to approve the Redevelopment Plan for CRA Area No. 2 and Resolution 2023-11. The motion carried with eight members voting in favor (O’Neill, Nelson, Robb, Monter, Rainforth, Goplin, Hendricksen, and Randone) and no members abstaining or voting no (Ruge, Stevenson, and Doane were absent). Judd Allan arrived at 6:10 p.m. c. Public Hearing Rezoning – Grand Island – Public Hearing to consider a change of zoning for property located north of Wildwood Drive and west of U.S. Highway 281 (Part of the E ½ of the NE ¼ and part of the E ½ of the SE ¼ of Section 1, Township 10 north, Range 10 west of the 6th P.M.) from TA Transitional Agriculture with a GCO Gateway Corridor Zone Overlay to B2-General Business with GCO Gateway Corridor Zone Overlay (C-32-23GI). O’Neill opened the public hearing. Nabity stated this application is requesting a rezoning of approximately 90 acres of land north of Wildwood Drive and west of U.S. Highway 281 from TA: Transitional Agriculture Zone to B2: General Business Zone. Interstate 80. Roger Bullington was available for questions. O’Neill closed the public hearing. A motion was made by Hendricksen and second by Rainforth to approve the rezoning for property located north of Wildwood Drive and east of U.S. Highway 281. The motion carried with nine members voting in favor (O’Neill, Nelson, Allan, Robb, Monter, Rainforth, Goplin, Hendricksen, and Randone) and no members abstaining or voting no (Ruge, Stevenson, and Doane were absent). 5. Consent Agenda: a. Preliminary and Final Plat – Wildwood Business Park Subdivision – Grand Island - Located north of Wildwood Drive and west of U.S. Highway 281. The property is currently zoned TA Transitional Agricultural and an application has been made to change the zoning to B2 General Business. The property is 90.16 acres and the proposed subdivision has 18 lots. Sewer, water and streets will be extended throughout the property with this subdivision. Page 5 of 78 b. Final Plat – Benjamin Roderick Davis Subdivision – Grand Island – This is an existing property located north of First Street and east of Cleveland Street. This property has 2 duplex units on it. The owners wish to separate the two onto their own lots. Each duplex is served by separate water services. The owners are working with a plumber to separate the sewer services. The subdivision will create substandard lots. A motion was made by Goplin and second by Randone to approve all items on the consent agenda. The motion carried with nine members voting in favor (O’Neill, Nelson, Allan, Robb, Monter, Rainforth, Goplin, Hendricksen, and Randone) and no members abstaining or voting no (Ruge, Stevenson, and Doane were absent). 6. Special Items. a. Comprehensive Plan Update – A motion was made by Robb and second by Rainforth to approve the payment of claims. The motion carried with nine members voting in favor (O’Neill, Nelson, Allan, Robb, Monter, Rainforth, Goplin, Hendricksen, and Randone) and no members abstaining or voting no (Ruge, Stevenson, and Doane were absent). 7. Director Communication: Community Beautification Award Comprehensive Plan 8. Next Meeting August 2, 2023 9. Adjourn O’Neill adjourned the meeting at 6:22 p.m. ___________________________________________ Leslie Ruge, Secretary By Norma Hernandez Page 6 of 78 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission August 2, 2023 Date: August 2, 2023 Item #: 4.a. Subject: Redevelopment Plan – CRA – Redevelopment Plan Amendment Upper Story Residential Development for Railside and 4th Street Areas in CRA Area #1 (C- 33-23GI) Staff Contact: Chad Nabity BACKGROUND: PROPOSAL: The 2023-2024 CRA Budget included a line item of $200,000 to support the development of upper story residential development in Downtown Grand Island including parts of Railside and along 4th Street. It is hoped that the Grand Island City Council and the CRA will each authorize $100,000 toward this effort. The goal of this program is to encourage the development of 50 new or renovated residential units in the project area. The intent of this program if used and successful is to continue funding the program for 5 years through the 2028 budget year. OVERVIEW: The purpose of the CRA and the designated blight and substandard areas is to provide incentives for development in underdeveloped areas of the community. This project will provide commercial development in a location that is intended for these uses. Development of this property should prevent further decay of this neighborhood. This area has already been declared blighted and substandard by the CRA, the Hall County Regional Planning Commission and the Grand Island City Council. This project is consistent with the existing zoning and the future land use plan for this area within the City of Grand Island. The B2, B3 and M3 zoning districts all permit housing and mixed use buildings. The Regional Planning Commission recommendation is limited to the appropriateness of the proposed use at this location. The Grand Island Comprehensive Plan calls for commercial development including mixed use at this location. Page 7 of 78 The Planning Commission is required to comment on these applications to confirm that expenditure of public funds is not supporting uses that would be inconsistent with the Comprehensive Plan. The program as proposed would promote development in the core commercial areas of Grand Island and expand housing opportunities in these core areas. RECOMMENDATION: That the Regional Planning Commission recommend that City Council approve of the redevelopment plan amendment as submitted. A resolution is attached for your consideration. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. 02 Redevelopment Plan Amendment Area 1 Life Safety Grant 2. 03 RES 439 3. 04 Resolution 2023-12 - Redevelopment Plan Life Safety Page 8 of 78 Redevelopment Plan Amendment Grand Island CRA Area 1 May 2023 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 1 within the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the creation of a grant program to further the development and redevelopment of upper story housing in buildings within the identified boundaries of this plan in Area 1. Executive Summary: Project Description THE CREATION OF GRANT PROGRAM TO FOSTER THE DEVELOPMENT OF UPPER STORY RESIDENTIAL UNITS IN AND NEAR THE DOWNTOWN CORE IT IS THE GOAL OF THE DOWNTOWN BUSINESS IMPROVEMENT DISTRICT, DOWNTOWN PROPERTY OWNERS, THE GRAND ISLAND CITY COUNCIL AND THE CRA TO DEVELOP OR REDEVELOP UPPER STORY 50 RESIDENTIAL UNITS WITHIN THIS AREA BY THE END OF 2028. Primary funding for this program will be provided through an appropriation from the City of Grand Island General Fund to be approved each year during the budget process and a set aside for grant purposes from the CRA General Budget. During the 2023-24 fiscal it is anticipated that each entity has will contribute $100,000. It is anticipated that this level of funding can continue through the 2027-28 fiscal year. The plan does not specifically authorize the use of Tax Increment Financing (“TIF”). It is anticipated that TIF will be part of some of these projects. A separate application and redevelopment plan will be required for all projects utilizing TIF. The acquisition, site work and construction of all improvements will be paid for by the developer. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with the acquisition, site work and remodeling. The CRA may grant funds as provided for in the CRA Annual Budget to developers of up to $20,000 per new two plus bedroom unit and $15,000 per new single bedroom unit developed on the an upper floor of a building. The CRA may grant funds as provided for fire sprinklers and water service upgrades necessary for sprinklers as provided for in the CRA Annual Budget to developers of up to $20,000 per existing two plus bedroom unit and $15,000 per existing single bedroom unit developed on the an upper floor of a building with a limit of $100,000 per building with existing units. These funds may only be granted for residential units within the project area. Grants made under this program are to be paid to the developer upon completion of the project and upon the developer showing evidence of such completion including certificates of occupancy, building inspection reports, approval of the fire marshal, paid invoices and evidence of actual costs. Page 9 of 78 UPPER STORY RESIDENTIAL LIFE SAFETY IMPROVEMENTS GRANTS AND TAX INCREMENT FINANCING SHALL BE LIMITED TO THE FOLLOWING GEOGRAPHIC AREA THOUGH UTILITY AND STREET EXTENSIONS AND NECSSARY UTILITY S COME FROM THE FOLLOWING REAL PROPERTY: Property Description (the “Redevelopment Project Area”) This property is bounded at the east side by Sycamore Street, the north side by South Front Street, the west side by Eddy Street and on the south side by Division Street, Locust Street and Court Street as shown on the attached maps identifying the area and the surrounding land uses. •Legal Descriptions Beginning at the center of the intersection of Court Street and Sycamore street proceeding along the centerline of Sycamore Street in a northerly direction ton the center of the intersection of Division Street and Sycamore Street and continuing along the centerline of Sycamore Street in a northwesterly direction to the center of the intersection of Sycamore Street and South Front Street; thence following the centerline of South Front Street in a southwesterly direction to the center of the intersection of Pine Street and South Front Street; thence northwesterly following the centerline of Pine Street to center of the intersection of Pine Street and 5th Street; thence southwesterly following the centerline of 5th Street to the center of the intersection of 5th Street and Eddy Street; thence following the centerline of Eddy Street in a southeasterly direction to the center of the intersection of Eddy Street and Division Street; thence following the centerline of Division Street in a northeasterly direction to the center of the intersection of Division Street and Locust Street; thence in following the centerline of Locust Street in a northerly direction to the center of the intersection of Locust Street and Court Street; thence following the centerline of Court Street in an easterly direction to the point of beginning. Page 10 of 78 Page 11 of 78 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 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 developers to more fully utilize their property in manner consistent with the zoning regulations, intent of the comprehensive plan and building and fire codes. 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. 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 directly for the demolition of structures. Some internal demolition may be necessary for redevelopment but the primary purpose of this plan is to encourage redevelopment and reuse of existing buildings in downtown Grand Island. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. The site is planned for downtown commercial development and public uses. [§18-2103(b) and §18- 2111] The attached map also is an accurate site plan of the area after redevelopment. [§18-2111(5)] Page 12 of 78 Page 13 of 78 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, B2 General Business Zone and M3 Mixed Use Manufacturing Zone. No zoning changes are anticipated with this project. The B3 and M3 Zoning Districts allow for residential uses with no restrictions on density. The B2 General Business Zone allows for residential uses at a density of 1 unit per 1000 square feet of property. No changes are anticipated in street layouts or grades. No changes are anticipated in building codes or ordinances. Nor are any other planning changes contemplated. [§18-2103(b) and §18-2111] e. Site Coverage and Intensity of Use The property is zoned B3, M3 and B2 and could accommodate a building of up to 100% of the property. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities Sewer and water are available to support this development. Water mains and fire service lines may need to be improved or added to support the proposed upper story development. 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] Page 14 of 78 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. [§18-2103.02] Contracts for redevelopment that involve the use of Tax Increment Financing will have to address the need for relocation and appropriate compensation within a plan for that specific project and a request for TIF. 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] CRA Board Members including Sue Pirnie, and Tom Gdowski either own or work for entities that own property within this area. Prior to applying for any funds either through a grant or TIF on those properties proper disclosure and review will be made. 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. 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 funds from the Life Safety grant program as defined by the Authority and authorized with this plan amendment. c. Statement of feasible method of relocating displaced families. It is anticipated that 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 15 of 78 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, in that it will allow for the utilization of and redevelopment of downtown properties in a way that encourages the mixed use development common to downtowns around the country. New residential development will raise property values and provide a stimulus to keep surrounding properties properly maintained and support additional commercial development within the Downtown. Redeveloping existing units and adding sprinklers will reduce the risk of fire throughout the area and protect live and property. This will have the intended result of preventing recurring elements of unsafe buildings and blighting conditions. 8. Time Frame for Development This redevelopment plan is to be approved for a 5 year period beginning with the 2023- 24 fiscal year and ending in the 2027-28 fiscal year. It is anticipated that this plan and the money appropriated to support the plan will result in the development of 50 new or renovated upper story residential units within the project area by 2031. 9. Justification of Project One of the keys to redeveloping any downtown area is to encourage enough 24 hour population in the area to support a wide variety of retail and personal services. Downtown Grand Island has struggled since major retailers moved to the suburban malls with encouraging appropriate development that fully utilizes the existing buildings. The addition of new and redeveloped residential units will provide beneficial uses for the upper stories of downtown buildings while at the same time increasing the number of people and population density of the neighborhood round the clock. This should lead to an increase in development and investment to support this core population and the entire community with specialized retail, dining and entertainment options. This is infill development in an area with all city services available. This project does not propose to tear down any buildings with historic value. Page 16 of 78 Page 17 of 78 Resolution Number 2023-12 HALL COUNTY REGIONAL PLANNING COMMISSION A RESOLUTION RECOMMENDING APPROVAL OF AN AMENDMENT TO A REDEVELOPMENT PLAN IN THE CITY OF GRAND ISLAND, NEBRASKA; AND APPROVAL OF RELATED ACTIONS WHEREAS, the Chairman and Board of the Community Redevelopment Authority of the City of Grand Island, Nebraska (the “Authority”), referred the Redevelopment Plan for CRA Area 1 to the Hall County Regional Planning Commission, (the “Commission”) for review and recommendation as to its conformity with the general plan for the development of the City of Grand Island, Hall County, Nebraska, pursuant to Section 18-2112 of the Community Development Law, Chapter 18, Article 21, Reissue Revised Statutes of Nebraska, as amended (the “Act”); and WHEREAS, the Commission held a public hearing on the proposed plan on August 2, 2023, and WHEREAS, the chair or president of Hall County Board, Grand Island School Board, Central Platte Natural Resources District, Educational Service Unit #10 and Central Community College were notified by certified mail of said hearing, and WHEREAS, the Commission advertised the time, date and location public hearing in the Grand Island Independent on Friday July 14th and Friday July 21st, and WHEREAS, there are no Neighborhood Associations registered with the City of Grand Island, and WHEREAS, the Commission has reviewed said Redevelopment Plan as to its conformity with the general plan for the development of the City of Grand Island, Hall County; NOW, THEREFORE, BE IT RESOLVED BY THE HALL COUNTY REGIONAL PLANNING COMMISSION AS FOLLOWS: Section 1. The Commission hereby recommends approval of the Redevelopment Plan finding that it is in conformance with the comprehensive development plan (general plan for development) for the City of Grand Island. Section 2. All prior resolutions of the Commission in conflict with the terms and provisions of this resolution are hereby expressly repealed to the extent of such conflicts. Section 3. This resolution shall be in full force and effect from and after its passage as provided by law. DATED: August 2, 2023 HALL COUNTY REGIONAL PLANNING COMMISSION ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 18 of 78 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission August 2, 2023 Date: August 2, 2023 Item #: 4.b. Subject: Redevelopment Plan – Venator Ventures, LLC – Redevelopment Plan Amendment CRA Area 7- Lot 5 of Industrial Foundation Subdivision in the City of Grand Island, Nebraska (PID 400209149) located south of Schimmer Drive and west of Cobalt Drive in Grand Island – (C-34-23GI) Staff Contact: Chad Nabity BACKGROUND: PROPOSAL: Venator Ventures LLC is proposing to develop the properties described above for commercial/industrial purposes. The property is zoned M2 Heavy Manufacturing zone. Warehousing and distribution uses are permitted in the M2 zone. OVERVIEW: The purpose of the CRA and the designated blight and substandard area is to provide incentives for development in underdeveloped areas of the community. This area has already been declared blighted and substandard the Grand Island City Council. This project is consistent with the current zoning and the future land use plan for this area within the City of Grand Island. This development will promote the use of these properties for warehousing and distribution facilities. This particular area of the community is ideally suited for such uses. The Regional Planning Commission recommendation is limited to the appropriateness of the proposed use at this location. The Grand Island Comprehensive Plan calls for the development of industrial uses at this location. The Planning Commission is required to comment on these applications to confirm that expenditure of public funds through TIF is not supporting uses that would be inconsistent with the comprehensive plan. The proposed use for development of a Page 19 of 78 warehouse at this location appears to be supported by the plan. RECOMMENDATION: That the Regional Planning Commission recommends find that the redevelopment plan is consistent with the Comprehensive Plan (general plan for development) of the city of Grand Island. A resolution is attached for your consideration. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. Redevelopment Plan Amendment Area 7 2. Venator Ventures LLC TIF Application Platte Valley East LOT 5 Current 3. Lot 5 Drawing 4. Resolution 2023-13 - Redevelopment Plan-PVIP Venator Page 20 of 78 Redevelopment Plan Amendment Grand Island CRA Area 7 July 2023 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 7 within the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific commercial project in Area 7. Executive Summary: Project Description THE REDEVELOPMENT OF LOT 5 OF INDUSTRIAL FOUNDATION SUBDIVISION, APPROXIMATELY 2.7 ACRES OF PROPERTY LOCATED SOUTH OF SCHIMMER DRIVE AND WEST OF COBALT DRIV IN GRAND ISLAND FOR A COMMERCIAL/WAREHOUSING PURPOSES. The use of Tax Increment Financing to aid in redevelopment expenses associated with acquisition, site work and planning for the development of a 12,000 square foot commercial warehouse building. The use of Tax Increment Financing is an integral part of the development plan and necessary to make this project affordable. Venator Ventures LLC has an option to purchase this property with the intent to develop it for the stated purpose. This project is in CRA Area 7. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with this project. The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated over multiple 15 year periods beginning January 1, 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 5 of Industrial Foundation Subdivision in the City of Grand Island, Nebraska (PID 400209149) Page 21 of 78 Existing Land Use and Subject Property Page 22 of 78 The tax increment will be captured for the tax years the payments for which become delinquent in years 2025 through 2039 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 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 August 28, 2007.[§18-2109] Such Page 23 of 78 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 redevelop 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 August 2, 2023 and passed Resolution 2023-?? 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 7 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 commercial 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 24 of 78 City of Grand Island Future Land Use Map Page 25 of 78 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned M2 Heavy Manufacturing. The future land use map calls for industrial/manufacturing uses at this location. No new utilities are anticipated and needed to support this project. No changes or improvements to existing streets are anticipated. 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 M2 zoning district allows for a wide variety of manufacturing and commercial uses including warehousing like the one proposed. The minimum lot size in the M2 zone is 6000 square feet and the maximum ground coverage is 65%. [§18-2103(b) and §18- 2111] f. Additional Public Facilities or Utilities Sanitary sewer and water are available to support this development. TIF revenues will be used to offset the cost of these public utility improvements. Page 26 of 78 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 $264,000 as an eligible expense. The estimated costs of utilities extensions including electric, sewer and water is $20,000. Private streets and drives at $50,000. Sitework and grading are estimated at $30,000. Planning activities including engineering, architecture, legal fees and government fees are estimated at $54,000. The total of the eligible expenses for this project is estimated by the developer at $1,636,000. 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 $319,625 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 2039. 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 27 of 78 Prior to recommending a redevelopment plan to the governing body for approval, an authority shall consider whether the proposed land uses and building requirements in the redevelopment project area are designed with the general purpose of accomplishing, in conformance with the general plan, a coordinated, adjusted, and harmonious development of the city and its environs which will, in accordance with present and future needs, promote health, safety, morals, order, convenience, prosperity, and the general welfare, as well as efficiency and economy in the process of development, including, among other things, adequate provision for traffic, vehicular parking, the promotion of safety from fire, panic, and other dangers, adequate provision for light and air, the promotion of the healthful and convenient distribution of population, the provision of adequate transportation, water, sewerage, and other public utilities, schools, parks, recreational and community facilities, and other public requirements, the promotion of sound design and arrangement, the wise and efficient expenditure of public funds, and the prevention of the recurrence of insanitary or unsafe dwelling accommodations or conditions of blight. The Authority has considered these elements in proposing this Plan. This amendment, in and of itself will promote consistency with the Comprehensive Plan. This will have the intended result of preventing recurring elements of unsafe buildings and blighting conditions. This will accomplish the goal of providing for the development and new employment opportunities at the Platte Valley Industrial Park. 8. Time Frame for Development Development of this project is anticipated to begin in the 2023 calendar year. The commercial build out will occur before the end of 2024. Excess valuation should be available 15 years beginning with the 2025 tax year. 9. Justification of Project The Platte Valley Industrial Park has been identified as a premier location of transportation related industries including warehousing. The access to major highways including I-80 and 281 and the ability to access these sites from the highway system is a major asset. The industrial park also provides for the possibility of bringing freight and materials in by rail. 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 $319,625 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 Page 28 of 78 $1,317,000 in private sector financing and investment; a private investment of $4.12 for every TIF dollar invested. Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $264,600 $264,600 Building Costs $1,200,000 $1,200,000 Utilities $20,000 $20,000 Private Streets $50,000 $50,000 Grading/Dirtwork $1,000 $29,000 $30,000 Planning (Arch. & Eng.)$42,000 $42,000 Other $18,000 $18,000 Legal/ TIF contract $12,000 $12,000 Total $319,600 $1,317,000 $1,636,600 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2023 valuation of approximately $231,000. Based on the 2022 levy this would result in a real property tax of approximately $4,888. It is anticipated that the assessed value will increase by $1,036.086 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $21,926 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. Page 29 of 78 Estimated 2023 assessed value: $ 231,000 Estimated value after completion $ 1,267,086 Increment value $ 1,036,086 Annual TIF generated (estimated) $ 21,926 TIF bond issue $ 319,265 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $231,000. The proposed redevelopment will create additional valuation of $1,036,086. The project creates additional valuation that will support taxing entities long after the project is paid off. The tax shift from this project will be equal to the total of the bond principal of $319,265 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 result additional students for Grand Island Public Schools. Fire and police protection are available and should not be negatively impacted by this development though there will be some increased need for officers and fire fighters as the City continues to grow whether from this project or others. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; This development will have minimal impact to other firms in the area and would be compatible with the proposed uses for this site. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project will not have a negative impact on other employers different from any other expanding business within the Grand Island area. Grand Island does have tight labor market and part of that is due to the availability and cost of housing. (e) Impacts on student populations of school districts within the City or Village: This development is not expected to have any direct impact on student populations as it does not involve residential uses. Page 30 of 78 (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This would be one of the first buildings at Platte Valley Industrial Park east. The city of Grand Island and the Grand Island Area Economic Development Corporation began developing Platte Valley Industrial Park in the late 1970’s. 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, 2024. 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 or a base amount of $319,265 the projected amount of increment based upon the anticipated value of the project and current tax rate. Based on the estimates of the expenses of the rehabilitation the developer will spend at least $418,600 on TIF eligible activities. Page 31 of 78 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 32 of 78 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 33 of 78 Form Updated 7-25-2019cn Page | 3 Private Streets $ ______________ Trails $ ______________ Grading/Dirtwork/Fill $ ______________ Demolition $ ______________ Other $ ______________ Total $ ______________ Soft Costs: A. Architectural & Engineering Fees: $ ______________ B. Financing Fees: $ ______________ C. Legal $ ______________ D. Developer Fees: $ ______________ E. Audit Fees $ ______________ F. Contingency Reserves: $ ______________ G. Other (Please Specify) $ ______________ TOTAL $ ______________ Total Estimated Market Value at Completion: $ Source for Estimated Market Value________________________________________ Source of Financing: A. Developer Equity: $ ______________ B. Commercial Bank Loan: $ ______________ C. Tax Credits: 1. N.I.F.A. $ ______________ 2. Historic Tax Credits $ ______________ 3. New Market Tax Credits $ ______________ 4. Opportunity Zone $ ______________ D. Industrial Revenue Bonds: $ ______________ E. Tax Increment Assistance: $ ______________ F. Enhanced Employment Area $ ______________ Page 34 of 78 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 35 of 78 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 36 of 78 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 37 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:CONTRACTOR: PERFECT BUILDING SOLUTIONS810 16TH ST.CENTRAL CITY, NE. 68826PLOT DATE:PROJECT DESCRIPTION: NEW BUILDING FOR4058 COBALT DR.GRAND ISLAND, NE.SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 01-23-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 01-23-2023 GENERAL NOTES 01-23-2023SITE PLAN C1.01 Page 38 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:CONTRACTOR: PERFECT BUILDING SOLUTIONS810 16TH ST.CENTRAL CITY, NE. 68826PLOT DATE:PROJECT DESCRIPTION: NEW BUILDING FOR4058 COBALT DR.GRAND ISLAND, NE.SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 01-23-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 01-23-2023 GENERAL NOTES 01-23-2023 FIRST FLOOR PLANA FIRST FLOOR PLANA1.01 Page 39 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:CONTRACTOR: PERFECT BUILDING SOLUTIONS810 16TH ST.CENTRAL CITY, NE. 68826PLOT DATE:PROJECT DESCRIPTION: NEW BUILDING FOR4058 COBALT DR.GRAND ISLAND, NE.SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 01-23-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE PROFESSIONAL SEAL PRELIMINARY DRAWINGS NOT FOR CONSTRUCTION 01-23-2023 GENERAL NOTES 01-23-2023EXTERIOR ELEVATIONSA2.01 NORTH EXTERIOR ELEVATION A WEST EXTERIOR ELEVATION C EAST EXTERIOR ELEVATION D SOUTH EXTERIOR ELEVATION B Page 40 of 78 Resolution Number 2023-13 HALL COUNTY REGIONAL PLANNING COMMISSION A RESOLUTION RECOMMENDING APPROVAL OF AN AMENDMENT TO A REDEVELOPMENT PLAN IN THE CITY OF GRAND ISLAND, NEBRASKA; AND APPROVAL OF RELATED ACTIONS WHEREAS, the Chairman and Board of the Community Redevelopment Authority of the City of Grand Island, Nebraska (the “Authority”), referred the Redevelopment Plan for CRA Area 8 requested by Venator Ventures, LLC to the Hall County Regional Planning Commission, (the “Commission”) for review and recommendation as to its conformity with the general plan for the development of the City of Grand Island, Hall County, Nebraska, pursuant to Section 18-2112 of the Community Development Law, Chapter 18, Article 21, Reissue Revised Statutes of Nebraska, as amended (the “Act”); and WHEREAS, the Commission held a public hearing on the proposed plan on August 2, 2023, and WHEREAS, the chair or president of Hall County Board, Grand Island School Board, Central Platte Natural Resources District, Educational Service Unit #10 and Central Community College were notified by certified mail of said hearing, and WHEREAS, the Commission advertised the time, date and location public hearing in the Grand Island Independent on Friday July 14th and Friday July 21st, and WHEREAS, there are no Neighborhood Associations registered with the City of Grand Island, and WHEREAS, the Commission has reviewed said Redevelopment Plan as to its conformity with the general plan for the development of the City of Grand Island, Hall County; NOW, THEREFORE, BE IT RESOLVED BY THE HALL COUNTY REGIONAL PLANNING COMMISSION AS FOLLOWS: Section 1. The Commission hereby recommends approval of the Redevelopment Plan finding that it is in conformance with the comprehensive development plan (general plan for development) for the City of Grand Island. Section 2. All prior resolutions of the Commission in conflict with the terms and provisions of this resolution are hereby expressly repealed to the extent of such conflicts. Section 3. This resolution shall be in full force and effect from and after its passage as provided by law. DATED: August 2, 2023 HALL COUNTY REGIONAL PLANNING COMMISSION ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 41 of 78 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission August 2, 2023 Date: August 2, 2023 Item #: 4.c. Subject: Redevelopment Plan – EBMT Properties, LLC – Redevelopment Plan Amendment CRA Area 1- Upper story residential development at the old Office Net located 315 N. Locust Street (part of Lots 3 and 4 of Block 55 Grand Island Original Town) in Grand Island (C-35-23GI) Staff Contact: Chad Nabity BACKGROUND: PROPOSAL: EBMT Properties, LLC is proposing to redevelop the property described above for commercial and residential purposes. The property is zoned B3 Heavy Business zone. Residential uses are permitted in the B3 zone at with no maximum number of units per acre. The developer is renovating the existing building for both commercial and residential tenants and will develop 5 upper story residential units and 1 first floor accessible residential unit. OVERVIEW: The purpose of the CRA and the designated blight and substandard area is to provide incentives for development in underdeveloped areas of the community. This area has already been declared blighted and substandard the Grand Island City Council. This project is consistent with the current zoning and the future land use plan for this area within the City of Grand Island. This development will promote housing construction in Grand Island and provide for more commercial space. The Regional Planning Commission recommendation is limited to the appropriateness of the proposed use at this location. The Grand Island Comprehensive Plan calls for the development of commercial spaces including higher density residential uses at this location. The Planning Commission is required to comment on these applications to confirm that Page 42 of 78 expenditure of public funds through TIF is not supporting uses that would be inconsistent with the comprehensive plan. The proposed use for a residential development at this location appears to be supported by the plan. RECOMMENDATION: That the Regional Planning Commission recommends find that the redevelopment plan is consistent with the Comprehensive Plan (general plan for development) of the city of Grand Island. A resolution is attached for your consideration. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. Redevelopment Plan Amendment Area 1 Office Net 315 N Locust 2. Application 3. Floorplans 4. New Facade drawing 5. RES 442 6. Resolution 2023-14 Office Net Page 43 of 78 Redevelopment Plan Amendment Grand Island CRA Area 1 June 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 315 N. LOCUST STREET FOR RESIDENTIAL AND COMMERCIAL USES, INCLUDING FIRE/LIFE SAFETY IMPROVEMENTS AND BUILDING REHABILITATION AND REMODELING. The use of Tax Increment Financing to aid in rehabilitation expenses associated with redevelopment of the second floor of the building located at 315 N. Locust Street. The developer is proposing to a mixed used project with commercial retail space on the first floor and upper story residential at this location. The commercial portion of this project is almost complete and TIF would be used to complete the upper story residential portion. This project would not be feasible without the use of TIF. EMBT Properties, LLC purchased the property for $250,000. 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 315 N. Locust Street in Grand Island Nebraska, the attached map identifies the subject property and the surrounding land uses. Legal Descriptions: The South half of the west half of lot 3 and the south half of lot 4 in Block Fifty-Five (55) in the Original Town, now City of Grand Island, Hall County, Nebraska. Page 44 of 78 Existing Land Use and Subject Property Page 45 of 78 The tax increment will be captured for the tax years the payments for which become delinquent in years 2025 through 2039 inclusive. The real property ad valorem taxes on the current valuation will continue to be paid to the normal taxing entities. The increase will come from rehabilitation of this portion of the building for commercial and residential uses as permitted in the B3 Heavy Business Zoning District. Statutory Pledge of Taxes. In accordance with Section 18-2147 of the Act and the terms of the Resolution providing for the issuance of the TIF Note, the Authority hereby provides that any ad valorem tax on the Redevelopment Project Area for the benefit of any public body be divided for a period of fifteen years after the effective date of this provision as set forth in the Redevelopment Contract, consistent with this Redevelopment Plan. Said taxes shall be divided as follows: a. That portion of the ad valorem tax which is produced by levy at the rate fixed each year by or for each public body upon the redevelopment project valuation shall be paid into the funds, of each such public body in the same proportion as all other taxes collected by or for the bodies; and b. That portion of the ad valorem tax on real property in the redevelopment project in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the Authority to pay the principal of; the interest on, and any premiums due in connection with the bonds, loans, notes, or advances on money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such Authority for financing or refinancing, in whole or in part, a redevelopment project. When such bonds, loans, notes, advances of money, or indebtedness including interest and premium due have been paid, the Authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon real property in such redevelopment project shall be paid into the funds of the respective public bodies. Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged to the repayment of loans or advances of money, or the incurring of any indebtedness, whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in whole or in part, the redevelopment project, including the payment of the principal of, premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness. Redevelopment Plan Amendment Complies with the Act: The Community Development Law requires that a Redevelopment Plan and Project consider and comply with a number of requirements. This Plan Amendment meets the statutory qualifications as set forth below. Page 46 of 78 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 August 2, 2022 and passed Resolution 2023-?? confirming that this project is consistent with the Comprehensive Plan for the City of Grand Island. 3. The Redevelopment Plan must be sufficiently complete to address the following items: [§18-2103(13) (b)] a. Land Acquisition: The Redevelopment Plan for Area 1 provides for real property acquisition and this plan amendment does not prohibit such acquisition. The developer has acquired the property and will be including acquisition as an eligible activity. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: The project to be implemented with this plan does not provide for the demolition and removal any structures on this property. Demotion of internal structures to accommodate the redevelopment is anticipated and permitted. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. All of the area around the site in private ownership is planned for Downtown Commercial development; this includes housing and commercial uses within the same structure. This property is in private ownership. [§18-2103(b) and §18-2111] The attached map also is an accurate site plan of the area after redevelopment. [§18-2111(5)] Page 47 of 78 City of Grand Island Future Land Use Map Page 48 of 78 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned B3-Heavy Business zone. No zoning changes are anticipated with this project. No changes are anticipated in street layouts or grades. No changes are anticipated in building codes or ordinances. Nor are any other planning changes contemplated. [§18-2103(b) and §18-2111] e. Site Coverage and Intensity of Use The developer is rehabilitating the existing building. The developer is not proposing to increase the size of the building and current building meets the applicable regulations regarding site coverage and intensity of use. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities •Sewer and water are available to support this development. •Electric utilities are sufficient for the proposed use of this building. •No other utilities would be impacted by the development. •The developer will be responsible for replacing any sidewalks damaged during construction of the project. No other utilities would be impacted by the development. [§18-2103(b) and §18-2111] 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. This property is vacant and has not been used for any residential purposes. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA have any interest in this property. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer purchased the property for $250,000. The estimated costs of rehabilitation of this property is $1,607,931. Planning and architecture fees are $10,587, Legal, and Fees of $17,500 for reimbursement to the City and the CRA for costs to prepare the contract and monitor the project over the course of the development are included in the eligible expenses. The total of eligible expenses for this project exceeds $1,886,018. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. Page 49 of 78 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 $278,910 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 2039. 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 increasing the number of residential units available in the Downtown area that has been underutilized for several years. 8. Time Frame for Development Development of this project is anticipated to be completed by October 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 built in 1905 and will be preserved with this project. The mixed use of commercial space and residential units is consistent with the long term development plans for Downtown. 10. Cost Benefit Analysis Section 18-2113 of the Act, further requires the Authority conduct a cost benefit analysis of the plan amendment in the event that Tax Increment Page 50 of 78 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 $278,910 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 $1,814,007 in private sector financing; a private investment of $6.50 for every TIF dollar invested. Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $250,000 $250,000 Building Costs $1,000 $1,606,931 $1,607,931 Contingency $80,397 $80,397 Planning (Arch. & Eng.)$10,587 $10,587 Finacing Fees and Audit $126,679 Legal/ TIF contract $17,500 $17,500 Total $279,087 $1,814,007 $2,093,094 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2024, valuation of approximately $214,241. Based on the 2022 levy this would result in a real property tax of approximately $4,534. It is anticipated that the assessed value will increase by $878,641 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $ 18,594 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 2022 assessed value: $214,241 Estimated value after completion $1,092882 Increment value $878,641 Annual TIF generated (estimated) $18,594 TIF bond issue $278,910 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $214,241. The proposed redevelopment will create additional valuation of $878,641. No tax shifts are anticipated from the project outside of the use of TIF to support the redevelopment. It is not anticipate that any additional tax burdens will be assumed by public entities as a result of this project. The project creates additional valuation that will support taxing entities long after the project is paid off. Page 51 of 78 (b) Public infrastructure and community public service needs impacts and local tax impacts arising from the approval of the redevelopment project; No additional public service needs have been identified. Existing water and waste water facilities will not be impacted by this development. The electric utility has sufficient capacity to support the development. It is not anticipated that this will impact schools in any significant way. Fire and police protection are available and should not be negatively impacted by this development. The addition of life safety elements to this building including fire sprinklers and a second exit actually reduce the chances of negative impacts to the fire department. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; This will provide additional residential options in the downtown area consistent with the planned development in Downtown Grand Island. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project will not have a negative impact on other employers in any manner different from any other expanding business within the Grand Island area. This will provide refurbish Downtown residential and commercial space options for residents and business owners who wish to relocate to the Downtown area. (e) Impacts on student populations of school districts within the City or Village: This development will have a minimal impact on the Grand Island School system as it will likely not result in any increased attendance. The majority of the units to be developed with this project is a two bedroom unit and unlikely to be a family unit, especially for families with school age children. The average number of persons per household in Grand Island for 2015 to 2019 according the American Community Survey is 2.61. According to the 2010 census 19.2% of the population of Grand Island was between the ages of 5 and 18. 2020 census number for this population cohort are not yet available but 27.6% of the 2021 population is less than 18 years of age this is the same percentage as the under 18 age cohort in 2010. If the averages hold it would be expected that there would be a maximum of three school age children generated by this development. (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This project is consistent the goals of the Council, the Downtown BID, the CRA, and Grow Grand Island to create additional upgraded residential and commercial spaces within downtown Grand Island. Time Frame for Development Development of this project is anticipated to be completed October 2024. The base tax Page 52 of 78 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 $278,910 the projected amount of increment based upon the anticipated value of the project and current tax rate. Based on the estimates of the expenses of the rehabilitation the developer will spend at least $1,886,018 on TIF eligible activities in excess of other grants given. Page 53 of 78 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 54 of 78 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 55 of 78 Form Updated 7-25-2019cn Page | 3 Private Streets $ ______________ Trails $ ______________ Grading/Dirtwork/Fill $ ______________ Demolition $ ______________ Other $ ______________ Total $ ______________ Soft Costs: A. Architectural & Engineering Fees: $ ______________ B. Financing Fees: $ ______________ C. Legal $ ______________ D. Developer Fees: $ ______________ E. Audit Fees $ ______________ F. Contingency Reserves: $ ______________ G. Other (Please Specify) $ ______________ TOTAL $ ______________ Total Estimated Market Value at Completion: $ Source for Estimated Market Value________________________________________ Source of Financing: A. Developer Equity: $ ______________ B. Commercial Bank Loan: $ ______________ C. Tax Credits: 1. N.I.F.A. $ ______________ 2. Historic Tax Credits $ ______________ 3. New Market Tax Credits $ ______________ 4. Opportunity Zone $ ______________ D. Industrial Revenue Bonds: $ ______________ E. Tax Increment Assistance: $ ______________ F. Enhanced Employment Area $ ______________ Page 56 of 78 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 57 of 78 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 58 of 78 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 59 of 78 Estimated Project Costs: Acquisition Costs: A. Land $0 B. Building $250,000 Construction Costs: A. Renovation or Building Costs:$1,607,931 B. On-Site Improvements: Sewer $0 Water $0 Electric $0 Gas $0 Public Streets/Sidewalks $0 Private Streets $0 Trails $0 Grading/Dirtwork/Fill $0 Demolition $0 Other: Parks/Public Space $0 Total $1,607,931 Soft Costs: A. Architectural & Engineering Fees:$10,587 B. Financing Fees: Construction $126,679 C. Legal $17,500 D. Developer Fees:$0 E. Audit Fees $0 F. Contingency Reserves:$80,397 G. Other: TIF fees/Misc fees $0 TOTAL $235,163 Total Estimated Market Value at Completion:$1,799,905 Source of Financing: A. Developer Equity:359,981$ B. Commercial Bank Loan:$1,633,113 E. Tax Increment Assistance:-$ H. Other: Façade grant 100,000$ Total 2,093,094$ Page 60 of 78 PROFORMA 313 N Locust With TIF EXPENSES USE OF FUNDS TOTAL Property Taxes $4,534 PURCHASE OF BUILDING $250,000 BID Taxes $2,869 CONSTRUCTION $1,607,931 Parking Taxes $837 CONTINGENCY 5%$80,397 Insurance $12,000 TENANT ALLOWANCE $0 Utilities $0 ARCHITECT/ENGINEER $10,587 Management $11,249 SOFT COSTS $144,179 Maintnance $6,749 TOTAL $2,093,094 Total $38,238 SOURCE OF FUNDS BANK 2220 $1,633,113 Debt Service Façade Grant 1431 $100,000 -1421 $0 Loan amount 1,633,113$ -1327 $0 Annual interest rate 7.000% -$0 Loan period in years 20 OWNER EQUITY (20% of appraised value)$359,981 TOTAL $2,093,094 Monthly payment 12,662$ Soft costs OPERATING PROFORMA ANNUAL RENTAL INCOME Annual Monthly TIF fee $7,500 0 Consultant TIF fee $5,000 s.f.$/s.f.Interest $126,679 Commercial 6617 $17 $112,489 $9,374 Misc $5,000 Apartments 6617 $17 $112,489 $9,374 $144,179 1431 Construction 4968 S.F.$/S.F. GROSS INCOME $224,978 6617 $243 $1,607,931 s Actual CAP 11.02% VACANCY $6,749 3.0%Cap Rate 10.0% DSCR 1.18 EXPENSES $38,238 17.0%NOI $179,990 $44,988 Appraisal $1,799,905 LTV 20%$359,981 NET OPERATING INCOME $179,990 Equity $166,792 DEBT SERVICE $151,938 Cash Injection $193,189 CASH FLOW $28,052 DSCR 1.18 Page 61 of 78 PROFORMA 313 N Locust Without TIF EXPENSES USE OF FUNDS TOTAL Property Taxes $18,594 PURCHASE OF BUILDING $250,000 BID Taxes $2,869 CONSTRUCTION $1,607,931 Parking Taxes $837 CONTINGENCY 7%$80,397 Insurance $12,000 TENANT ALLOWANCE $0 Utilities $0 ARCHITECT/ENGINEER $10,587 Management $11,249 SOFT COSTS $131,679 Maintnance $6,749 TOTAL $2,080,594 Total $52,298 SOURCE OF FUNDS BANK 2220 $1,648,734 Debt Service Façade Grant 1431 $100,000 -1421 $0 Loan amount $1,648,734 -1327 $0 Annual interest rate 7.000% -$0 Loan period in years 20 OWNER EQUITY (20% of appraised value)$331,861 TOTAL $2,080,594 Monthly payment 12,783$ Soft costs OPERATING PROFORMA ANNUAL RENTAL INCOME Annual Monthly TIF fee $0 0 Consultant TIF fee $0 s.f.$/s.f.Interest $126,679 Commercial 6617 $17 112,489$ $9,374 Misc $5,000 Apartments 6617 $17 112,489$ $131,679 1431 Construction 4968 S.F.$/S.F. GROSS INCOME $224,978 6617 $243 $1,607,931 s Actual CAP 10.06% VACANCY $6,749 3.0%Cap Rate 10.0% DSCR 1.08 EXPENSES $52,298 23.2%NOI $165,930 $59,048 Appraisal $1,659,303 LTV 20%$331,861 NET OPERATING INCOME $165,930 DEBT SERVICE $153,391 CASH FLOW $12,539 DSCR 1.08 Page 62 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER:EBMT PROPERIES, LLC4139 SANDALWOOD DR.GRAND ISLAND, NE. 68801PLOT DATE:PROJECT DESCRIPTION: RENOVATIONS FOR315 N. LOCUST ST.GRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 05-05-2023 05-05-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE GENERAL NOTES BASEMENT FLOOR PLANA1.01 BASEMENT FLOOR PLAN Page 63 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER:EBMT PROPERIES, LLC4139 SANDALWOOD DR.GRAND ISLAND, NE. 68801PLOT DATE:PROJECT DESCRIPTION: RENOVATIONS FOR315 N. LOCUST ST.GRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 05-05-2023 05-05-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE GENERAL NOTES FIRST FLOOR PLANA1.02 FIRST FLOOR PLAN Page 64 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER:EBMT PROPERIES, LLC4139 SANDALWOOD DR.GRAND ISLAND, NE. 68801PLOT DATE:PROJECT DESCRIPTION: RENOVATIONS FOR315 N. LOCUST ST.GRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 05-05-2023 05-05-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE GENERAL NOTES SECOND FLOOR PLANA1.03 SECOND FLOOR PLAN Page 65 of 78 Page 66 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER:EBMT PROPERIES, LLC4139 SANDALWOOD DR.GRAND ISLAND, NE. 68801PLOT DATE:PROJECT DESCRIPTION: RENOVATIONS FOR315 N. LOCUST ST.GRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 05-05-2023 05-05-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE GENERAL NOTES BASEMENT FLOOR PLANA1.01 BASEMENT FLOOR PLAN Page 67 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER:EBMT PROPERIES, LLC4139 SANDALWOOD DR.GRAND ISLAND, NE. 68801PLOT DATE:PROJECT DESCRIPTION: RENOVATIONS FOR315 N. LOCUST ST.GRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 05-05-2023 05-05-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE GENERAL NOTES FIRST FLOOR PLANA1.02 FIRST FLOOR PLAN Page 68 of 78 PLAN DATE:©INFORMATION CONTAINED WITHIN THISDOCUMENT INCLUDING, BUT NOT LIMITED TO,DESIGN CONCEPTS, ARE PROPERTY OFSPOTANSKI CREATIVE BUILDING DESIGN &DRAFTING. REPRODUCTION OF THISINFORMATION IS PROHIBITED WITHOUTWRITTEN CONSENT OF SPOTANSKI CREATIVEBUILDING DESIGN & DRAFTING.DRAWN BY:OWNER:EBMT PROPERIES, LLC4139 SANDALWOOD DR.GRAND ISLAND, NE. 68801PLOT DATE:PROJECT DESCRIPTION: RENOVATIONS FOR315 N. LOCUST ST.GRAND ISLAND, NE. 68801SHEET TITLE:SHEET:REVISION: DATE:SpotanskiCreative Building Design& Drafting, LLCSTACY J. SPOTANSKIS. SPOTANSKI 05-05-2023 05-05-2023 IF THIS DRAWING IS NOT 24" X 36", THEN IT IS NOT TO SCALE GENERAL NOTES SECOND FLOOR PLANA1.03 SECOND FLOOR PLAN Page 69 of 78 Page 70 of 78 Page 71 of 78 Resolution Number 2023-14 HALL COUNTY REGIONAL PLANNING COMMISSION A RESOLUTION RECOMMENDING APPROVAL OF AN AMENDMENT TO A REDEVELOPMENT PLAN IN THE CITY OF GRAND ISLAND, NEBRASKA; AND APPROVAL OF RELATED ACTIONS WHEREAS, the Chairman and Board of the Community Redevelopment Authority of the City of Grand Island, Nebraska (the “Authority”), referred the Redevelopment Plan for CRA Area 1 requested by EBMT Properties, LLC to the Hall County Regional Planning Commission, (the “Commission”) for review and recommendation as to its conformity with the general plan for the development of the City of Grand Island, Hall County, Nebraska, pursuant to Section 18-2112 of the Community Development Law, Chapter 18, Article 21, Reissue Revised Statutes of Nebraska, as amended (the “Act”); and WHEREAS, the Commission held a public hearing on the proposed plan on August 2, 2023, and WHEREAS, the chair or president of Hall County Board, Grand Island School Board, Central Platte Natural Resources District, Educational Service Unit #10 and Central Community College were notified by certified mail of said hearing, and WHEREAS, the Commission advertised the time, date and location public hearing in the Grand Island Independent on Friday July 14th and Friday July 21st, and WHEREAS, there are no Neighborhood Associations registered with the City of Grand Island, and WHEREAS, the Commission has reviewed said Redevelopment Plan as to its conformity with the general plan for the development of the City of Grand Island, Hall County; NOW, THEREFORE, BE IT RESOLVED BY THE HALL COUNTY REGIONAL PLANNING COMMISSION AS FOLLOWS: Section 1. The Commission hereby recommends approval of the Redevelopment Plan finding that it is in conformance with the comprehensive development plan (general plan for development) for the City of Grand Island. Section 2. All prior resolutions of the Commission in conflict with the terms and provisions of this resolution are hereby expressly repealed to the extent of such conflicts. Section 3. This resolution shall be in full force and effect from and after its passage as provided by law. DATED: August 2, 2023 HALL COUNTY REGIONAL PLANNING COMMISSION ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 72 of 78 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission August 2, 2023 Date: August 2, 2023 Item #: 5.a. Subject: Request to Vacate a Final Plat –Lowry Second Subdivision- Hall County Staff Contact: Chad Nabity BACKGROUND: Mike Lowry the owner of Lowry Second Subdivision located south of White Cloud Road and west of Cameron Road is requesting that the subdivision be vacated and the subdivided portion made a part of the surrounding farm ground. There are existing grain bins on the site and Mr. Lowry owns and farms the ground to the south and west. RECOMMENDATION: That the Regional Plannining Commission recommend that the Hall County Board of Commissioners approve vacating the plat for Lowry Second Subdivision and retain all of the Right of Way for Cameron Road that was dedicated with the plat. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. scan0233 2. Scan of Lowry Second Subdivision 3. Request to Vacate Lowry 2nd Sub Lot 1 Location 4. Request to Vacate Lowry 2nd Sub Lot 1 Aerial Page 73 of 78 Page 74 of 78 Page 75 of 78 Cameron Rd NWhite Cloud Rd W Request to Vacate Lot 1Lowry Second Subdivision ® Legend HCGI.DBO.GrandIslandJurisdiction REQUEST TO VACATE SUBDIVISIONLOCATION MAP 1 inch = 228 feet Page 76 of 78 Cameron Rd NRequest to VacateLot 1 LowrySecond Subdivision ® Legend HCGI.DBO.GrandIslandJurisdictionImageRGB Red: Red Green: Green Blue: Blue REQUEST TO VACATE SUBDIVISIONAERIAL MAP 1 inch = 100 feet Page 77 of 78 Invoice Date 7/24/2023 Invoice # 1503 Bill To Hall Couny Regioanl Planning Commission Chad Nabity PO Box 1968 Grand Island, NE 68802-1968 Marvin Planning Consultants, Inc 382 N. 4th Street PO Box 410 David City, NE 68632 P.O. No.Terms Net 30 Due Date 8/23/2023 Account #Project Phone # 402.367.5031 E-mail kmarvin@marvinplanning.com Total Balance Due Payments/Credits Description Qty Rate Amount See attached pdf 5,692.50 5,692.50 Out-of-state sale, exempt from sales tax 0.00% 0.00 $5,692.50 $5,692.50 $0.00 Page 78 of 78