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11-01-2023 Hall County Regional Planning Commission November 1, 2023 Packet Regional Planning Commission Meeting Agenda Council Chambers City Hall 100 East First Street Regular Meeting of November 1, 2023 6:00 PM 1. CALL TO ORDER This is an open meeting of the Hall County Regional Planning Commission. The Planning Commission 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 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 of the meeting to better accommodate the public. 2. MEETING MINUTES a. Minutes of October 11, 2023 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 – Woodsonia Hwy 281, LLC – CRA Area 28. Amendment to the Area Included in the Enhanced Employment Area to include additional properties, specifically: Wells Fargo, Red Lobster and in Grand Island (C-05-24GI) b. Redevelopment Plan – Beckett Inc. – CRA Area 37- 610 N Darr Avenue in the City of Grand Island, Nebraska (C-06-24GI) c. Redevelopment Plan – Prataria Ventures LLC – CRA Area 17- Multiple projects in the Prairie Commons fourth and sixth subdivisions and Ponderosa Village Second Subdivision located south of Schimmer Drive and west of U.S. Highway 281 in the City of Grand Island, Nebraska (C-07-24GI) d. Rezoning – Grand Island -- Consideration of an application by Brian Levander to rezone Parcel # 4000149257 10.67 acres located south of Lake Street and west of Locust Street. 5. CONSENT AGENDA 6. SPECIAL ITEMS a. Comprehensive Plan Update and Payment of Claims b. Election of Officers for 2024. Members of the commission will select a Chairperson, Vice Chair Person and Secretary. Page 1 of 188 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 Page 2 of 188 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission November 1, 2023 Date: November 1, 2023 Item #: 2.a. Subject: Minutes of October 11, 2023 Meeting Staff Contact: Chad Nabity BACKGROUND: Consideration of approval of the Minutes of the October 11, 2023 meeting. All members can vote to approve the minutes as the vote to approve is recognition of the integrity of the body and recording secretary. If any changes or corrections need to be considered it is appropriate to offer those as amendments prior to approving. RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. Draft - Minutes Oct 11, 2023 Page 3 of 188 THE REGIONAL PLANNING COMMISSION OF HALL COUNTY, GRAND ISLAND, WOOD RIVER AND THE VILLAGES OF ALDA, CAIRO, AND DONIPHAN, NEBRASKA Minutes for October 11, 2023 The meeting of the Regional Planning Commission was held Wednesday, October 11, 2023 at City Hall – Grand Island, Nebraska. Notice of this meeting appeared in the “Grand Island Independent” on September 30, 2023. Present: Les Ruge Greg Robb Tom Barnes Tony Randone Pat O’Neill Tyler Doane Leonard Rainforth Darrel Nelson Absent: Judd Allen, Brent Stevenson, Jaye Monter and Megan Goplin 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 4 of 188 of the meeting to better accommodate the public. 2. Minutes of the September 6, 2023 meeting. A motion was made by Randone and second by Rainforth to approve the minutes of the September 6, 2023 meeting. The motion carried with six members voting in favor (O’Neill, Ruge, Robb, Rainforth, Nelson, Barnes and Randone) and no members abstaining or voting no (Doane, Allan, Monter, Stevenson and Goplin were absent). 3. Request Time to Speak. Andrew Willis – 233 S. 13th Street, Lincoln, NE – Item 4e Jordan Starostka – 429 Industrial Ln Grand Island, NE – Item 4e Roger Bullington 3935 Westgate Rd – Grand Island, NE – Item 4c Tyler Doane arrived – 6:03 4. PUBLIC HEARINGS a. Public Hearing – Re-adopt the Village of Cairo Zoning Map – (C-01-24C) b. Public Hearing – Consider re-adoption of the Cairo Zoning Ordinance with changes as requested by the Cairo Village Board and other changes as suggested by the Regional Planning Department Staff. Copies of the proposed changes are available at the Hall County Regional Planning Department Office located at the Grand Island City Hall. (C-01-24C) O’Neill opened the public hearing for Item A and Item B. Nabity stated this item was approved by the Regional Planning Commission back in June 2023. The Village of Cairo adopted their ordinance they only referenced the map with changes and not the rest of the map. This will allow a newly revised and adopted copy of the map to be printed for official use by the Board, staff and the general public. Nabity stated the Village of Cairo is requesting proposed changes to allow residential uses in the commercial zoning districts and to allow Churches within the I1- Light Industrial Zoning District as a Permitted Conditional Use, review the sign regulations and review the allowable square footage as well as amending the setbacks in the commercial districts. O’Neill closed the public hearing. Page 5 of 188 A motion was made by Nelson and second by Randone to approve the re-adoption of the Cairo Zoning Map. The motion carried with eight members voting in favor (O’Neill, Ruge, Nelson, Robb, Rainforth, Barnes, Doane and Randone) no members voting no and no members abstaining (Allan, Goplin, Monter and Stevenson were absent). A motion was made by Robb and second by Rainforth to approve the readoption of the Cairo Zoning Ordinance with changes as requested by the Cairo Village Board and other changes suggested by the Regional Planning Department Staff. The motion carried with eight members voting in favor (O’Neill, Ruge, Barnes, Nelson Rainforth, Doane, Robb, and Randone) and no members voting no and no members abstaining (Allan, Monter, Goplin, and Stevenson were absent). c. Proposed CRA Area #39 – located west of U.S. Highway 281 north and south of Wildwood Drive in Grand Island, Hall County Nebraska. Resolution 2024-01 (C- 02-24GI) O’Neill opened the public hearing. Nabity stated the study as prepared and submitted indicates that this property could be considered substandard and blighted. The property meets the criteria to be declared blighted and substandard of its own accord. Roger Bullington – commented on the importance of development and growth for the City of Grand Island. The proposed property would be a good way to build Grand Island up and closer to I80. O’Neill closed the public hearing. A motion was by Ruge and second by Nelson to approve the Substandard and Blight Study for CRA Area #39 and Resolution 2024-01. The motion carried with eight members voting in favor (O’Neill, Ruge, Barnes, Nelson Rainforth, Doane, Robb, and Randone) and no members abstaining or voting no (Allan, Monter, Goplin and Stevenson were absent). d. Redevelopment Plan – Prataria Ventures, LLC – Redevelopment Plan Amendment CRA Area #7 – Proposed Lot 9 of Industrial Foundation Second Subdivision in the City of Grand Island, Nebraska located south of Schimmer Drive and west of Blaine Street in Grand Island. (C-03-24GI) Item was taken off the agenda. Page 6 of 188 e.Redevelopment Plan – 3650 LLC – Redevelopment Plan Amendment CRA Area 34 located at 3650 W. 13th street in the City of Grand Island – (C-04-24GI) O’Neill opened the public hearing Nabity stated 3650, LLC is requesting $890,000 in Tax Increment Financing. The Redeveloper is proposing to renovate the existing building on the property for commercial purposes. Twenty Five percent of the increment generated will be made available to the City of Grand Island for the development of Claude Road along the west side of the property. Andrew Willis – representing 3650, LLC – spoke on behave of the redeveloper. Mr. Willis went over the project. Jordan Starostka – was available for questions O’Neill closed the public hearing. A motion was made by Robb and second by Randone to approve the Redevelopment Plan Amendment CRA Area #34 located at 3650 W. 13th Street and Resolution 2024-03. The motion carried with seven members voting in favor (Ruge, Barnes, Nelson Rainforth, Doane, Robb, and Randone) and no members abstaining and one member voting no (O’Neill) and (Allan, Monter, Goplinn and Stevenson were absent). 5. Consent Agenda: a. Final Plat – Jaxson Second Subdivision – Grand Island – Located south of Old Potash Highway and west of North Road in Grand Island, NE (13 lots, 1 outlot, 16.767 acres) b. Bartels Subdivision an Addition – Grand Island – Located north of Highway and west of North Road in the jurisdiction of the City of Grand Island, NE (2 lots, 11.47acres) Bartels Subdivision was removed from the agenda c. Final Plat – Eagle Lake Estates Fourth Subdivision – Grand Island ETJ – Located north of Stoneridge Path and east Linden Avenue in the jurisdiction of the City of Grand Island, NE (3 lots, 12.478 acres) Page 7 of 188 A motion was made by Ruge and second by Rainforth to approve all items on the consent agenda. The motion carried with eight members voting in favor (O’Neill, Ruge Robb, Nelson, Rainforth, Barnes, Doane and Randone) and no members abstaining or voting no (Allan, Goplin, Monter and Stevenson were absent). 6. Special Items: a. Comprehensive Plan Update and Payment of Claims b. NPZA Virtual Conference Friday October 13, 8:30 to 4:30 A motion was made by Nelson and second by Rainforth to approve the payment of claims. The motion carried with eight members voting in favor (O’Neill, Ruge Robb, Nelson, Rainforth, Barnes, Doane and Randone) and no members abstaining or voting no (Allan, Goplin, Monter and Stevenson were absent). 7. Director Communication 8. Next Meeting Date: November 1, 2023 9.Adjourn O’Neill adjourned the meeting at 6:33 p.m. ___________________________________________ Leslie Ruge, Secretary By Norma Hernandez Page 8 of 188 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission November 1, 2023 Date: November 1, 2023 Item #: 4.a. Subject: Redevelopment Plan – Woodsonia Hwy 281, LLC – CRA Area 28. Amendment to the Area Included in the Enhanced Employment Area to include additional properties, specifically: Wells Fargo, Red Lobster and in Grand Island (C- 05-24GI) Staff Contact: Chad Nabity BACKGROUND: Woodsonia Hwy 281 LLC and the owners of the properties including Balz, Red Lobster and Wells Fargo have requested that the Enhanced Employment Area created for the Conestoga Marketplace redevelopment be expanded to include these three properties. The owners of all three properties will benefit from the redevelopment. If approved this would expand the area covered by the 1.5% occupation tax intended to help offset the cost of redeveloping the mall. 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 and an enhanced employment area has been approved for the majority of the property. 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 provide for more modernized 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 at this location. The Planning Commission is required to comment on these applications to confirm that creation of the enhanced employment area and the proposed development is not Page 9 of 188 supporting uses that would be inconsistent with the comprehensive plan. The proposed use for commercial 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 recommend approval of Resolution 2024-04 finding that the redevelopment plan is consistent with the Comprehensive Plan (general plan for development) of the city of Grand Island. ATTACHMENTS: 1. revised plan amendment 2. Resolution 455 3. Outparcel - Executed Enhanced Employment Consent 11.29.22, 4857-6041-0964 4. Don Mehring Executed EEA Consent 5. Resolution 2024-04 Woodsonia Area 28 EEA Addition Page 10 of 188 Amendment of Redevelopment Plan, Grand Island CRA Area 28 Conestoga Marketplace October 2022, Enlarging the Redevelopment Area and Designating Additional Real Estate as an Enhanced Employment Area The Community Redevelopment Authority of the City of Grand Island (“CRA”) seeks to amend the “Redevelopment Plan, Grand Island CRA Area 28 Conestoga Marketplace, October 2022” (“Original Plan”) by enlargement of the Redevelopment Area subject to the Original Plan and designating the additional area as an Enhanced Employment Area provided in the Nebraska Community Development Law (the “Act”). The Original Plan is on file with the Grand Island, Nebraska, office of the City Clerk and is incorporated herein by this reference, INTRODUCTION: The City Council of Grand Island, Nebraska previously approved the Original Plan on November 22, 2022. The Redevelopment Area designated in the Original Plan is designated on Exhibit “A” hereto as “TIF Project Area” and legally described as Lots 1, 4 and 5, Conestoga Mall Eighth Subdivision to the City Of Grand Island, Hall County, Nebraska, and now described as Lots 1 through 12, inclusive, Conestoga Mall Ninth Subdivision to the City of Grand Island, Hall County, Nebraska. A portion of the Redevelopment Area in the Original Plan was designated as an Enhanced Employment Area as provided in the Act as shown on Page 12 of the Original Plan which is shown on Exhibit “B” hereto. The City imposed an occupation tax on the Enhanced Employment Area the proceeds of which are for purposes of paying the principal and interest on certain EEA Indebtedness issued by the CRA. Pursuant to the Original Plan, a Redevelopment Contract was executed between the City of Grand Island, Nebraska, the CRA and Woodsonia Hwy 281, LLC, a Nebraska limited liability company as Redeveloper. The Redevelopment Contract, among other items, provided for the issuance of TIF Indebtedness and EEA Indebtedness. This Amended Plan enlarges the Redevelopment Area as shown on Exhibit “C” and legally described as Lots 1 through 12, inclusive, of the Conestoga Mall Ninth Subdivision; Lots 2 and 3 Conestoga Mall Eighth Subdivision and South 191.53 feet of the West 220 feet of Lot 1 of Conestoga North Twelfth Subdivision, all in the City of Grand Island, Hall County, Nebraska. Additionally this Amended Plan requests: (1) that the CRA designate as Lots 1 through 12, inclusive, of the Conestoga Mall Ninth Subdivision; Lots 2 and 3 Conestoga Mall Eighth Subdivision and South 191.53 feet of the West 220 feet of Lot 1 of Conestoga North Twelfth Subdivision, all in the City of Grand Island, Hall County, Nebraska, as an Enhanced Employment Area; (2) that the Grand Island, Nebraska, City Council impose a 1.5% Occupation Tax by ordinance on the sales generated on the area described in subsection (1) on identical terms as the Occupation Tax Ordinance on Lots 1 through 12, inclusive, of the Conestoga Mall Ninth Subdivision; and (3) the proceeds of such new Occupation Tax Ordinance be pledged to the payment of the existing EEA Indebtedness. Page 11 of 188 PLAN AMENDMENT COMPLIES WITH THE ACT: §18-2111 of the Act requires that this Plan Amendment provide: 1. A map showing boundaries and existing uses in the redevelopment project area. Exhibit “C” attached hereto shows the redevelopment area as amended. Conditions and uses of the redevelopment area, prior to rehabilitation are shown in the Original Plan. 2. A land use plan of the redevelopment area. Exhibit “C” and the Original Plan show the proposed land use plan. 3. Information showing standards of population densities, land coverage and building intensities of the area after redevelopment. Exhibit “C” shows the current land coverage and building intensities. No change is contemplated as to the added areas. The Original Plan provides information as to population densities, coverage and building intensities for the balance of the redevelopment area. 4. A statement of the proposed changes, if any, in zoning ordinances or maps, street layouts, street levels or grades, or building codes and ordinances. Refer to the Original Plan for these elements. 5. Site Plan of the area. Refer to Exhibit “C” hereto and the Original Plan. 6. A statement as to the kind and number of additional public facilities or utilities which will be required to support the new land uses in the area after redevelopment. Refer to the Original Plan. This Plan Amendment does not make any revisions to this information. §18-2113 of the Act requires a cost-benefit analysis if this Amended Plan utilizes a division of taxes pursuant to §18-2147 of the Act. This Amended Plan does not provide for a division of taxes as to the real estate added to the redevelopment area. Nor does this Amended Plan provide for an increase in the TIF Indebtedness or EEA Indebtedness principal. Except as provided in this Plan Amendment, the Original Plan remains unrevised. Woodsonia Hwy 281, LLC, undertakes to create fifteen new employees and make a new investment of one million dollars over and above the original undertaking for investment and employment provided in the Original Plan. Page 12 of 188 EXHIBIT “A” Map of Original Redevelopment Area Page 13 of 188 EXHIBIT “B” Map of Original EEA Area Page 14 of 188 EXHIBIT “C” Map Showing Enlarged Redevelopment Area Page 15 of 188 Page 16 of 188 Page 17 of 188 Page 18 of 188 Page 19 of 188 Page 20 of 188 City of Grand Island, Nebraska Enhanced Employment Area for Conestoga Marketplace Acknowledgement and Consent Conestoga North, L.L.C., a Nebraska limited liability company (the “Owner”), is the fee simple owner of certain real property located at 3421 W. State Street, Grand Island, Nebraska 68803 and identified as tax parcel number 400390353 (the “Balz Parcel”), more particularly described as the South 191.53 feet of the West 220 feet of Lot 1, Conestoga North Twelfth Subdivision, in the City of Grand Island, Hall County, Nebraska, as highlighted in the depiction below: The Owner understands and hereby acknowledges the following: Balz Parcel Page 21 of 188 1. In March 2023, Woodsonia Hwy 281, LLC, a Nebraska limited liability company (“Woodsonia”), acquired certain real property described as Lots 1 through 13, inclusive, and Outlot A, Conestoga Mall Ninth Subdivision, in the City of Grand Island, Hall County, Nebraska (collectively, the “Property”). 2. Woodsonia intends to redevelop the Property into a $200,000,000 mixed-use project called “Conestoga Marketplace”, as generally depicted on the site plan below: Page 22 of 188 3. Conestoga Marketplace is expected to include the following: (a) A new to market approximately 150,000-square-foot anchor retailer positioned in the southern portion of the Property described as Lot 3, Conestoga Mall Ninth Subdivision, in the City of Grand Island, Hall County, Nebraska (which retailer has acquired fee simple title to said Lot 3 from Woodsonia); (b) A redevelopment of the northern portion of the existing Conestoga Mall to include modernized, exterior-facing storefronts and façades, new tenant improvements, and high-tech entertainment offerings, including a new cinema with in-theater dining, indoor and outdoor pickleball courts, and a first-class bar / restaurant facility; (c) Approximately 300 high-quality multi-family housing units in the northeast portion of the Property described as Lot 13, Conestoga Mall Ninth Subdivision, in the City of Grand Island, Hall County, Nebraska; (d) A new hotel in the northwest portion of the Property described as Lot 12, Conestoga Mall Ninth Subdivision, in the City of Grand Island, Hall County, Nebraska (which hotel operator has acquired fee simple title to said Lot 12 from Woodsonia); and (e) Various pad sites adjacent to Highway 281 and 13th Street, which pad sites will include new restaurants and multi-tenant retail buildings. 4. A recent market retail study projects that Conestoga Marketplace will stop the current in- town retail leakage and increase out-of-town sales from 42% to 51%. 5. In order to assist with the financial feasibility of the Conestoga Marketplace project, Woodsonia has received approval from the City of Grand Island (the “City”) with respect to certain governmental incentives, including the creation of an Enhanced Employment Area (“EEA”) pursuant to the Nebraska Community Development Law, under Chapter 18, Article 21 of the Nebraska Revised Statutes (the “Act”), and in accordance with Ordinance No. 9909 enacted on December 20, 2022 by the City (the “Ordinance”). 6. Pursuant to the Ordinance, a 1.5% occupation tax (the “Occupation Tax”) has been imposed on all General Retail Business transactions which the State of Nebraska is authorized to impose a tax upon as allowed by the Nebraska Local Option Revenue Act for each calendar month derived from the General Retail Business subject to the tax (similar to sales tax transactions). “General Retail Business” means any activity engaged in by any natural party or caused to be engage in by such party in which products or services are sold, leased, or rented for any purpose other than for resale, sublease, or subrent, and shall expressly exclude any transaction which is subject to tax under Sections 53-160, 66-489, 66- 489.02, 66-4,140, 66-4,145, 66-4,146, 77-2602 or 77-4008 of the Nebraska Revised Statutes or which is exempt from tax under Section 77-2704.24 of the Nebraska Revised Statutes. 7. The Occupation Tax will help Woodsonia to finance the cost of public improvements for the Conestoga Marketplace project in an amount not to exceed $36,762,753, which financing will be available via the issuance of occupation tax revenue bonds, refunding bonds, notes, interim certificates, debentures, anticipation notes, and other indebtedness or obligations by the Community Redevelopment Authority of the City pursuant to the provisions of Section 18-2124 of the Act for which occupation tax Page 23 of 188 receipts have been pledged (the “Bonds”), as provided in the Redevelopment Contract between the City and Woodsonia. Such public improvement costs include, without limitation, Property acquisition costs, site preparation costs, costs of utilities and transportation improvements, and façade and building enhancement costs. 8. The imposition of the Occupation Tax shall terminate upon the earlier of (a) payment in full of the Bonds or (b) 30 years after the effective date of the Occupation Tax in the EEA. 9. The EEA is being amended to include the parcels designated as “Added” in the depiction below, which includes the Balz Parcel: Page 24 of 188 Page 25 of 188 Page 26 of 188 Resolution Number 2024-04 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 Amendment for CRA Area 28 requested by Woodsonia Hwy 281 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 November 1, 2023, and WHEREAS, the chair or president of Hall County Board, Grand Island School Board, Central Platte Natural Resources District, Educational Service Unit #10 and Central Community College were notified by certified mail of said hearing, and WHEREAS, the Commission advertised the time, date and location public hearing in the Grand Island Independent on Wednesday October 11th, 2023 and Wednesday October 18th, 2023, 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: November 1, 2023 Page 27 of 188 HALL COUNTY REGIONAL PLANNING COMMISSION ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 28 of 188 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission November 1, 2023 Date: November 1, 2023 Item #: 4.b. Subject: Redevelopment Plan – Beckett Inc. – CRA Area 37- 610 N Darr Avenue in the City of Grand Island, Nebraska (C-06-24GI) Staff Contact: Chad Nabity BACKGROUND: PROPOSAL: Beckett Inc. is proposing to rehabilitate the former Park View nursing home at 610 N. Darr to provide housing and services for persons recovering from drug and alcohol addiction. The property has been vacant for several years and this project will restore it to a useful purpose. The proposed use is similar in nature to the original use as a nursing home. 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 provide for more modernized 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 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 commercial development at this location appears to be supported by the plan. Page 29 of 188 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 Resolution 2024-05 finding that the redevelopment plan is consistent with the Comprehensive Plan (general plan for development) of the city of Grand Island. ATTACHMENTS: 1. Redevelopment Plan Amendment Area 37 Parkview Beckett 2. Beckett Inc TIF PDF 1 3. Resolution 456 4. Resolution 2024-05 Beckett Inc Area 37 Page 30 of 188 Redevelopment Plan Grand Island CRA Area 37 October 2023 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 37 with in the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific infrastructure related project in Area 37. Executive Summary: Project Description THE REDEVELOPMENT THE PARKVIEW NURSING HOME AT 610 N. DARR AVENUE FOR COMMERICIAL PURPOSES. The use of Tax Increment Financing to aid in renovation of the former Parkview Nursing home at 610 N. Darr Avenue. The use of Tax Increment Financing is an integral part of the development plan and necessary to make this project affordable. This property has sat vacant for several years and was acquired by the Beckett Inc. in December of 2022. Becket Inc. has purchased this property for the purpose of renovating it as a home for persons in addiction recovery. This project is in CRA Area 37. This property has been vacant for several years and significant work is necessary to renovate the building and bring it up to code. The proposed use is similar to the historic use of this building. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with the renovation. The Grand Island Community Redevelopment Authority (CRA) intends to pledge the ad valorem taxes generated over a 15 year period beginning in January 1, 2025 towards the allowable costs and associated financing for the development of this property. TAX INCREMENT FINANCING TO PAY FOR THE DEVELOPMENT OF THE PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY: Property Description (the “Redevelopment Project Area”) Legal Descriptions: 610 N. Darr Avenue Packer and Barr’s Addition Loots 1, 2, 3, 5, 6, and the south ½ of Lot 4 Block 4 Lot 2, 281 Retail Subdivision (Parcel ID No. 400068885). Page 31 of 188 Existing Land Use and Subject Property Page 32 of 188 The tax increment will be captured for the tax years the payments for which become delinquent in years 2025 through 2040 inclusive. The real property ad valorem taxes on the current valuation will continue to be paid to the normal taxing entities. The increase will come from development of the property for residential and commercial uses as previously described. Statutory Pledge of Taxes. In accordance with Section 18-2147 of the Act and the terms of the Resolution providing for the issuance of the TIF Note, the Authority hereby provides that any ad valorem tax on the Redevelopment Project Area for the benefit of any public body be divided for a period of fifteen years after the effective date of this provision as set forth in the Redevelopment Contract or any amendment to the redevelopment contract, consistent with this Redevelopment Plan. Said taxes shall be divided as follows: a. That portion of the ad valorem tax which is produced by levy at the rate fixed each year by or for each public body upon the redevelopment project valuation shall be paid into the funds, of each such public body in the same proportion as all other taxes collected by or for the bodies; and b. That portion of the ad valorem tax on real property in the redevelopment project in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the Authority to pay the principal of; the interest on, and any premiums due in connection with the bonds, loans, notes, or advances on money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such Authority for financing or refinancing, in whole or in part, a redevelopment project. When such bonds, loans, notes, advances of money, or indebtedness including interest and premium due have been paid, the Authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon real property in such redevelopment project shall be paid into the funds of the respective public bodies. Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged to the repayment of loans or advances of money, or the incurring of any indebtedness, whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in whole or in part, the redevelopment project, including the payment of the principal of, premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness. Redevelopment Plan Amendment Complies with the Act: The Community Development Law requires that a Redevelopment Plan and Project consider and comply with a number of requirements. This Plan Amendment meets the statutory qualifications as set forth below. 1. The Redevelopment Project Area has been declared blighted and substandard by action of the Grand Island City Council on September 28, 2021.[§18-2109] Such Page 33 of 188 declaration was made after a public hearing with full compliance with the public notice requirements of §18-2115 of the Act. 2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13) (a) and §18-2110] Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan amendment and project are consistent with the Comprehensive Plan, in that no changes in the Comprehensive Plan elements are intended. This plan merely provides funding for the developer to rehabilitate the property for permitted uses on this property as defined by the current and effective zoning regulations. The Hall County Regional Planning Commission held a public hearing at their meeting on November 1, 2023 and passed Resolution 2024-?? confirming that this project is consistent with the Comprehensive Plan for the City of Grand Island. 3. The Redevelopment Plan must be sufficiently complete to address the following items: [§18-2103(13) (b)] a. Land Acquisition: This Redevelopment Plan for Area 37 provides for real property acquisition and this plan amendment does not prohibit such acquisition. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: The project to be implemented with this plan does not provide for the demolition and removal any structures on this property. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. All of the area around the site in private ownership is planned for low to medium density residential development. This property is in private ownership. [§18-2103(b) and §18-2111] The attached map also is an accurate site plan of the area after redevelopment. [§18-2111(5)] Page 34 of 188 City of Grand Island Future Land Use Map Page 35 of 188 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The area is zoned RO Residential Office Zone. The future land use map calls for public uses which tend to include public health facilities. This property has historically been used as a nursing home. No changes are anticipated in building codes or other ordinances. No other planning changes contemplated. [§18-2103(b) and §18-2111] Page 36 of 188 Current Zoning on the Site e. Site Coverage and Intensity of Use The RO zoning district allows for a variety of residential, office, medical and non-profit uses. The RO district allows a maximum ground coverage of 75%. [§18-2103(b) and §18-2111] Page 37 of 188 f. Additional Public Facilities or Utilities Sanitary sewer and water are available to support this development. Electric utilities are sufficient for the proposed use of this property. Electric lines, transformers, and conduit will need to be extended throughout the property. No other publicly owned utilities would be impacted by the development. §18-2103(b) and §18-2111] 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. This property is vacant and has been vacant for more than 1 year; no relocation is contemplated or necessary. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA have any interest in this property. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The purchase price of the property is $300,000 as an eligible expense. The estimated costs of utilities including improvements for electric is $75,000. Demolition and rehabilitation activities of are expected to cost $1,693,000. Planning activities including engineering, architecture, legal fees and government fees are estimated at $7,000. The total of the eligible expenses for this project is estimated by the developer at $2,075,000. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. b. Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of $567,097 from the proceeds of the TIF. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2025 through December 2040. c. Statement of feasible method of relocating displaced families. No families will be displaced as a result of this plan. 7. Section 18-2113 of the Act requires: Page 38 of 188 Prior to recommending a redevelopment plan to the governing body for approval, an authority shall consider whether the proposed land uses and building requirements in the redevelopment project area are designed with the general purpose of accomplishing, in conformance with the general plan, a coordinated, adjusted, and harmonious development of the city and its environs which will, in accordance with present and future needs, promote health, safety, morals, order, convenience, prosperity, and the general welfare, as well as efficiency and economy in the process of development, including, among other things, adequate provision for traffic, vehicular parking, the promotion of safety from fire, panic, and other dangers, adequate provision for light and air, the promotion of the healthful and convenient distribution of population, the provision of adequate transportation, water, sewerage, and other public utilities, schools, parks, recreational and community facilities, and other public requirements, the promotion of sound design and arrangement, the wise and efficient expenditure of public funds, and the prevention of the recurrence of insanitary or unsafe dwelling accommodations or conditions of blight. The Authority has considered these elements in proposing this Plan. This amendment, in and of itself will promote consistency with the Comprehensive Plan. This will have the intended result of preventing recurring elements of unsafe buildings and blighting conditions. This particular building has been a blighting influence on the area for several years while it sat unoccupied on this busy corridor. 8. Time Frame for Development Development of this project is anticipated to begin in the 2023 year. The renovations are expected to be complete in 2024. Excess valuation should be available for 15 years beginning with the 2025 tax year. 9. Justification of Project This project will renovate and rehabilitate an existing building that has been vacant on this high traffic corridor for the last several years. 10. Cost Benefit Analysis Section 18-2113 of the Act, further requires the Authority conduct a cost benefit analysis of the plan amendment in the event that Tax Increment Financing will be used. This analysis must address specific statutory issues. As authorized in the Nebraska Community Development Law, §18-2147, Neb. Rev. Stat. (2019), the City of Grand Island has analyzed the costs and benefits of the proposed Redevelopment Project, including: Project Sources and Uses. Approximately $567,097 in public funds from tax increment financing provided by the Grand Island Community Redevelopment Authority will be required to complete the project. This investment by the Authority will leverage $1,716,553 in private sector financing and investment; a private investment of $3.003 for every TIF dollar invested. Page 39 of 188 Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $300,000 $300,000 Building Costs $60,097 $1,507,903 $1,568,000 Utilities $75,000 $75,000 Demolition $125,000 $125,000 Legal/ TIF contract $7,000 $7,000 Contingency $208,650 $208,650 Total $567,097 $1,716,553 $2,283,650 Tax Revenue. The property to be redeveloped is anticipated to have a January 1, 2024 valuation of approximately $300,000. Based on the 2022 levy this would result in a real property tax of approximately $6,349. It is anticipated that the assessed value will increase by $1,786,508 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $37,806 annually. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for the period of the bonds, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2024 assessed value: $ 300,000 Estimated value after completion $ 2,086,508 Increment value $ 1,786,508 Annual TIF generated (estimated) $ 37,806 TIF bond issue $ 567,097 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $300,000 The proposed redevelopment will create additional valuation of $1,786,508 by the end of the project. The project creates additional valuation, renovates a build that has been a drain on the neighborhood and surrounding area and that will support taxing entities long after the project is paid off. This development will also support and complement the construction of Claude Road on the west side of this property. The tax shift from this project will be equal to the total of the bond principal of $567,097 if fully funded and any associated interest on the bond to be assigned with contract approval. (b) Public infrastructure and community public service needs impacts and local tax impacts arising from the approval of the redevelopment project; Existing water and waste water facilities will not be negatively impacted by this development. The electric utility has sufficient capacity to support the development. This is infill development with services connecting to existing line with capacity. This development will not directly result in a larger number of students for Grand Island Page 40 of 188 Public Schools. Fire and police protection are available and should not be negatively impacted by this development. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; This will provide additional space for new businesses. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project will not have a negative impact on other employers different from any other expanding business within the Grand Island area. Grand Island does have tight labor market. (e) Impacts on student populations of school districts within the City or Village: This development will not have a direct impact on the Grand Island School system (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This will renovate and rehabilitate an existing building that has been vacant for the last several years. Time Frame for Development Development of this project is anticipated to be completed by the end of 2024. The base tax year should be calculated on the value of the property as of January 1, 2025. Excess valuation should be available for this project beginning in 2025 with taxes due in 2026. Excess valuation will be used to pay the TIF Indebtedness issued by the CRA per the contract between the CRA and the developer for a period not to exceed 15 years on each property or an amount not to exceed a base amount of $567,097 the projected amount of increment based upon the anticipated value of the project and current tax rate and associated interest on the bond. Based on the estimates of the expenses of the rehabilitation the developer will spend at least $2,075,000 on TIF eligible activities. Page 41 of 188 Form Updated 7-25-2019cn Page | 1 BACKGROUND INFORMATION RELATIVE TO TAX INCREMENT FINANCING REQUEST Project Redeveloper Information Business Name: ______________________________________________________________ Address: _______________________________________________________________ Telephone No.: __________________________ Fax No.: _______________ Email: _________________________________________________________ Contact: _______________________________________________________________ Application Submission Date: Brief Description of Applicant’s Business:__ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________ Legal Description/Address of Proposed Project Community Redevelopment Area Number __37____ Beckett, Inc. 2110 E. Stolley Park Road, Grand Island, NE 68801 (402) 968-1702 pbeckett2nd@gmail.com Phil Beckett Beckett, Inc. is a real estate developer and contractor that creates secure, stable, transitional housing for people working towards sobriety. This supervised building community will help fill in the medical needs of our clients. 610 N. Darr Ave., Grand Island, NE 68801 PACKER'S & BARR'S ADD LTS 1-2-3-5-6 & S 2'LT 4 BLK 4 Page 42 of 188 Form Updated 7-25-2019cn Page | 2 Present Ownership Proposed Project Site: ________________________________________________________________ _____________________________________ Is purchase of the site contingent on Tax Increment Financing Approval? Yes No Proposed Project: Building square footage, size of property, description of buildings – materials, etc. Please attach site plan, if available. _____________________________________________________________ ________________________________________________________________ ________________________________________________________________ _________ ________________ If Property is to be Subdivided, Show Division Planned: VI. Estimated Project Costs: Acquisition Costs: A. Land $ ______________ B. Building $ ______________ Construction Costs: A. Renovation or Building Costs:$ _________ _____ B. On-Site Improvements: Sewer $ ______________ Water $ ______________ Electric $ ______________ Gas $ ______________ Public Streets/Sidewalks $ ______________ Beckett, Inc. 4 This property is currently vacant and has been for three years. parking lot, fenced courtyard, basement, rec rooms. The heating and air is an outdated boiler system and will need to be upgraded. The exterior has some rotted areas that will need replaced. The landscaping is overgrown and neglected. The plumbing froze and will need replaced/repaired. The interior will need updated.0 300,00.00 1,568,000.00 75,000.00 This property is currently vacant and has been for three years. During the last three years, it has been the cause and concern for multiple police calls due to vagrants and vandalism. This property has been unsightly for the neighbors and the community. It is on a main through-way street in Grand Island. Currently, the way it sits, it negates the value and professionalism of the neighboring medical facilities that are important to our community. The building is 23,291 sq. ft., was most recently house a nursing home (Park Place Care and Rehabilitation Center). It was built in 1961 with an all-brick exterior. There are 44 rooms, 50 car parking lot, fenced courtyard, basement, rec rooms.The heating and air is an outdated boiler system and will need to be upgraded. The exterior has some rotted areas that will need replaced. The landscaping is overgrown and neglected. The plumbing froze and will need replaced/repaired. The interior will need updated. Page 43 of 188 Form Updated 7-25-2019cn Page | 3 Private Streets $ ______________ Trails $ ______________ Grading/Dirtwork/Fill $ ______________ Demolition $ ______________ Other $ ______________ Total $ ______________ Soft Costs: A. Architectural & Engineering Fees:$ ______________ B. Financing Fees:$ ______________ C. Legal $ ______________ D.Developer Fees:$ ______________ E. Audit Fees $ ______________ F. Contingency Reserves:$ ______________ G. Other (Please Specify) $ ______________ TOTAL $ ______________ Total Estimated Market Value at Completion: $ Source for Estimated Market Value__Hall County Assessor___________________ Source of Financing: A. Developer Equity:$ _______ _____ B. Commercial Bank Loan: C.Tax Credits: 1. N.I.F.A. 2. Historic Tax Credits 3. New Market Tax Credits 4. Opportunity Zone D. Industrial Revenue Bonds: E. Tax Increment Assistance: F. Enhanced Employment Area $ $ ____0_________ $ ____0_________ $ ____567,097.00 $ ____0__________ $ ____0__________ $ ______________ $ ______________ 125,000.00 7,000.00 208,650.00 2,283,650.00 2,086,508.00 450,000.00 1,266,553.00 ______________ (insurance, real estate taxes, interest, and all other carrying expenses during duration of project) Page 44 of 188 Form Updated 7-25-2019cn Page | 4 G. Nebraska Housing Trust Fund H. Other $ ____0__________ $ ____0__________ Name, Address, Phone & Fax Numbers of Architect, Engineer and General Contractor: _______________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________________________________ Estimated Real Estate Taxes on Project Site Upon Completion of Project: (Please Show Calculations) ________________________________________________________________ Please see attached memo from Hall County Assessor.________________________________________________________ ____ ________________________________________________________________ ____________________________________________________________ Project Construction Schedule: Construction Start Date: _________________________________________________ Construction Completion Date: ___________________________________________ If Phased Project: _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete _______________________ Year ______________________ % Complete Architect: ATA Architects, LLC, 323 E. 14th Avenue, North Kansas City, MO, 64116 Engineer: Systems Engineering Professionals, Jon. R. Jackson, PE, 7335 Kentwell Lane, Lincoln, NE, 68516 General Contractor: Beckett, Inc., Phil Beckett, 2110 E. Stolley Park Road, Grand Island, NE, 68801 Phone and fax numbers available upon request. November 1, 2023 June 1, 2024 Page 45 of 188 Form Updated 7-25-2019cn Page | 5 XII.Please Attach Construction Pro Forma XIII.Please Attach Annual Income & Expense Pro Forma (With Appropriate Schedules) TAX INCREMENT FINANCING REQUEST INFORMATION Describe Amount and Purpose for Which Tax Increment Financing is Requested: ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ______________________________________________________________ Statement Identifying Financial Gap and Necessity for use of Tax Increment Financing for Proposed Project: ______________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________ Beckett, Inc. is requesting approximately $567,097.00 in TIF. The TIF will allow the project to cash flow and therefore be a success. These funds are especially important during this time of unprecedented inflation, interest rate increases, regional shortage of labor. Without TIF assistance, the project will not cash flow and therefore will not be a successful business venture. I am developing this property with the intent of bettering our community, providing a safe, stable, supervised living environment. Page 46 of 188 Form Updated 7-25-2019cn Page | 6 Municipal and Corporate References (if applicable). Please identify all other Municipalities, and other Corporations the Applicant has been involved with, or has completed developments in, within the last five (5) years, providing contact person, telephone and fax numbers for each: ________________________________________________________________ References available upon request.______________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ____________________________________ Post Office Box 1968 Grand Island, Nebraska 68802-1968 Phone: 308 385-5240 Fax: 308 385-5423 Email: cnabity@grand-island.com Beckett, Inc. is a corporation comprised of officer Phil Beckett. Page 47 of 188 Page 48 of 188 Resolution Number 2024-05 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 37 requested by Beckett Inc 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 November 1, 2023, and WHEREAS, the chair or president of Hall County Board, Grand Island School Board, Central Platte Natural Resources District, Educational Service Unit #10 and Central Community College were notified by certified mail of said hearing, and WHEREAS, the Commission advertised the time, date and location public hearing in the Grand Island Independent on Wednesday October 11th, 2023 and Wednesday October 18th, 2023, 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: November 1, 2023 HALL COUNTY REGIONAL PLANNING COMMISSION ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 49 of 188 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission November 1, 2023 Date: November 1, 2023 Item #: 4.c. Subject: Redevelopment Plan – Prataria Ventures LLC – CRA Area 17- Multiple projects in the Prairie Commons fourth and sixth subdivisions and Ponderosa Village Second Subdivision located south of Schimmer Drive and west of U.S. Highway 281 in the City of Grand Island, Nebraska (C-07-24GI) Staff Contact: Chad Nabity BACKGROUND: PROPOSAL: Prataria Ventures LLC is proposing development of five lots south of the Grand Island Regional Hospital. The properties are intended to be developed with a new corporate headquarters building for Chief Industries, a new hotel, a bar/restaurant, a quick serve restaurant, and financial/commercial office. 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 provide for more modernized 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 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 commercial development at this location appears to be supported by the plan. Page 50 of 188 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 Resolution 2024-07 finding that the redevelopment plan is consistent with the Comprehensive Plan (general plan for development) of the city of Grand Island. ATTACHMENTS: 1. 02 Redevelopment Plan Amendment - Grand Island CRA Area 17 - Phase 2 Prairie Commons 2. Tiff Application Updated final 3. Resolution 458 4. Resolution 2024-07 Prataria LLC Area 17 Page 51 of 188 Redevelopment Plan Amendment Grand Island CRA Area 17 October 2023 The Community Redevelopment Authority (CRA) of the City of Grand Island intends to amend the Redevelopment Plan for Area 17 within the city, pursuant to the Nebraska Community Development Law (the “Act”) and provide for the financing of a specific project in Area 17. Executive Summary: Project Description PHASE 4 OF THE REDEVELOPMENT OF PROPERTY LOCATED SOUTH OF HUSKER HIGHWAY AND WEST OF U.S. HIGHWAY 281 THE PROJECT SITE CONSISTS OF LOT 2 OF THE PRAIRIE COMMONS 4th SUBDIVISION, LOTS 3, 4, AND 9 OF THE PRAIRIE COMMONS 6TH SUBDIVISION AND LOT 1 OF THE PONDEROSA VILLAGE 2ND SUBDIVISION. THE PROJECT WILL CONSIST OF SITE WORK AND GRADING TO PROMOTE AND ENHANCE DRAINAGE ACROSS THE SITE, INTALLATION OF PUBLIC AND PRIVATE ROADS, SEWER, WATER AND OTHER UTILITY INFRASTRUCTURE TO SUPPORT DEVELOPMENT OF THE SITE. THIS PHASE OF THIS DEVELOPMENT WILL CONSIST OF THE CONSTRUCTION AT LEAST FIVE BUILDINGS FOR MULTIPLE USERS ON 5 LOTS. THE BUILDINGS INCLUDE A PROPOSED 129 ROOM HOTEL, A 43,289 SQUARE FOOT 3 STORY OFFICE BUILDING, A 12,200 SQUARE FOOT 2 STORY OFFICE BUILDING, A 2,240 SQUARE FOOT QUICK SERVE RESTAURANT, AND A 7,495 SQUARE FOOT SINGLE STORY RESTRUARANT/BAR. The use of Tax Increment Financing to aid in necessary infrastructure and grading improvements to redevelop the southwest corner of Husker Highway and U.S. Highway 281 in the City of Grand Island. The use of Tax Increment Financing was and is an integral part of the development plan and necessary to make this project economically feasible. The first phase and second phases of this development north of these sites are currently underway. The third phase, Tabitha is complete. It was anticipated when that project was approved that subsequent phases of the remainder of the site would include housing, office space and retail development. This fourth phase will extend the office development and include hospitality functions to support the rest of the subdivision. The developer has indicated that this development would not be considered nor financially feasible for at this location without the use of TIF. Prataria Ventures L.L.C., a wholly owned subsidiary of Chief Industries, Inc., owns the subject property. Chief Industries was founded in 1954 and is headquartered in Grand Island. The developer is responsible for and has provided evidence that they can secure adequate debt financing to cover the costs associated with the site work and redevelopment. The Grand Island Community Redevelopment Authority (CRA) intends Page 52 of 188 to pledge the ad valorem taxes generated over the multiple 15 year periods as soon as January 1, 2025 towards the allowable costs. TAX INCREMENT FINANCING TO PAY FOR THE REHABILITATION OF THE PROPERTY WILL COME FROM THE FOLLOWING REAL PROPERTY: Property Description (the “Redevelopment Project Area”) Legal Descriptions: Lot 2 of Prairie Commons 4th Subdivision, Lots 3, 4, and 9 of Prairie Commons 6th Subdivision and Lot 1 Ponderosa Village 2ND Subdivision in the City of Grand Island, Hall County, Nebraska. Existing Land Use and Subject Property Page 53 of 188 This plan amendment provides for the issuance TIF Notes, the proceeds of which will be granted to the Redeveloper. The tax increment will be captured for up to 15 tax years for each subphase of the project; the payments for which become delinquent in years 2026 through 2045 inclusive or as otherwise dictated by the contract. The real property ad valorem taxes on the current valuation will continue to be paid to the normal taxing entities. The incremental value for the will be created by the construction buildings as described above. This area is planned for commercial development with the Grand Island Comprehensive Plan and is currently zoned RO Residential Office and B2 General Business, a variety of office, medical and commercial uses including hospitality are permitted in these districts. Statutory Pledge of Taxes. In accordance with Section 18-2147 of the Act and the terms of the Resolution providing for the issuance of the TIF Note, the Authority hereby provides that any ad valorem tax on the Redevelopment Project Area for the benefit of any public body be divided for a period of fifteen years after the effective date of this provision as set forth in the Redevelopment Contract, consistent with this Redevelopment Plan. Said taxes shall be divided as follows: a. That portion of the ad valorem tax which is produced by levy at the rate fixed each year by or for each public body upon the redevelopment project valuation shall be paid into the funds, of each such public body in the same proportion as all other taxes collected by or for the bodies; and b. That portion of the ad valorem tax on real property in the redevelopment project in excess of such amount, if any, shall be allocated to and, when collected, paid into a special fund of the Authority to pay the principal of; the interest on, and any premiums due in connection with the bonds, loans, notes, or advances on money to, or indebtedness incurred by, whether funded, refunded, assumed, or otherwise, such Authority for financing or refinancing, in whole or in part, a redevelopment project. When such bonds, loans, notes, advances of money, or indebtedness including interest and premium due have been paid, the Authority shall so notify the County Assessor and County Treasurer and all ad valorem taxes upon real property in such redevelopment project shall be paid into the funds of the respective public bodies. Pursuant to Section 18-2150 of the Act, the ad valorem tax so divided is hereby pledged to the repayment of loans or advances of money, or the incurring of any indebtedness, whether funded, refunded, assumed, or otherwise, by the CRA to finance or refinance, in whole or in part, the redevelopment project, including the payment of the principal of, premium, if any, and interest on such bonds, loans, notes, advances, or indebtedness. Redevelopment Plan Amendment Complies with the Act: Page 54 of 188 The Community Development Law requires that a Redevelopment Plan and Project consider and comply with a number of requirements. This Plan Amendment meets the statutory qualifications as set forth below. 1. The Redevelopment Project Area has been declared blighted and substandard by action of the Grand Island City Council on June 9, 2015.[§18-2109] Such declaration was made after a public hearing with full compliance with the public notice requirements of §18-2115 of the Act. 2. Conformation to the General Plan for the Municipality as a whole. [§18-2103 (13) (a) and §18-2110] Grand Island adopted a Comprehensive Plan on July 13, 2004. This redevelopment plan amendment and project are consistent with the Comprehensive Plan, in that no changes in the Comprehensive Plan elements are intended. This plan merely provides funding for the developer to rehabilitate the building for permitted uses on this property as defined by the current and effective zoning regulations. The Hall County Regional Planning Commission held a public hearing at their meeting on November 1, 2023 and passed Resolution 2024-?? confirming that this project is consistent with the Comprehensive Plan for the City of Grand Island. 3. The Redevelopment Plan must be sufficiently complete to address the following items: [§18-2103(13) (b)] a. Land Acquisition: This Redevelopment Plan for Area 17 does not anticipate real property acquisition by the developer. There is no proposed acquisition by the authority. b. Demolition and Removal of Structures: The project does not provide for the demolition or removal of any existing structures. c. Future Land Use Plan See the attached map from the 2004 Grand Island Comprehensive Plan. This property is in private ownership and is planned for commercial uses [§18-2103(b) and §18-2111]. A site plan of the area after the proposed redevelopment is also attached. [§18-2111(5)] Page 55 of 188 City of Grand Island Future Land Use Map Page 56 of 188 d. Changes to zoning, street layouts and grades or building codes or ordinances or other Planning changes. The property is currently platted and located in three different subdivisions. The property will be developed in substantial compliance with the existing plats. No changes in zoning are anticipated for the expected uses. No other planning changes contemplated. [§18-2103(b) and §18-2111] e. Site Coverage and Intensity of Use The developer is proposing to build on the site within the constraints allowed by the current zoning districts. The RO zoning district would allow up to 75% coverage. The B2 zoning district would allow up to 100% coverage. [§18-2103(b) and §18-2111] f. Additional Public Facilities or Utilities Sewer and water are available to support this development. Sufficient capacity exists within these systems to support this development at completion. Sewer, water will be extended throughout the site. The developer will be responsible for engineering and installation of all required utilities. Said utilities are expected to become part of the city infrastructure and will be accepted into the city systems after construction and inspection. Electric infrastructure will be extended throughout the site according to typical commercial installation requirements. Natural gas and communications infrastructure will be installed according to the agreements formed with the private companies that provide those services. The City of Grand Island will secure all necessary easements for utility infrastructure with the platting and development processes. [§18-2103(b) and §18-2111] 4. The Act requires a Redevelopment Plan provide for relocation of individuals and families displaced as a result of plan implementation. No individuals or businesses will be relocated due to this development. [§18-2103.02] 5. No member of the Authority, nor any employee thereof holds any interest in any property in this Redevelopment Project Area. [§18-2106] No members of the authority or staff of the CRA has any ownership interest in this property at this time. 6. Section 18-2114 of the Act requires that the Authority consider: a. Method and cost of acquisition and preparation for redevelopment and estimated proceeds from disposal to redevelopers. The developer is showing a purchase price of this property of $2,274,128. The cost of property acquisition is not included as a TIF eligible expense but is included in the sources and uses of funds and overall investment calculations. Costs for site preparation Page 57 of 188 including, grading and fill is estimated at $528,000. Utility extensions, storm water, sewer electrical and water are estimated at $891,000, Building plans and engineering are expected to cost $3,650,000. The cost of public roads is $1,832,909 and the hike/bike trail is $400,861. An additional $357,000 of expenses for legal work, fees and financial tracking of this project are also included as eligible expenses for a total maximum TIF request of $10,993,898. It is estimated based on the proposed increased valuation to $31,172,105 will result in $659,671 of increment generated annually. Based on a TIF Bond(s) of $5,829,686 this project should pay off prior to the end of the 15 year period even with interest associated with the bond and an expected values of the bond(s) of $9,809,197. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. No property will be transferred to redevelopers by the Authority. The developer will provide and secure all necessary financing. b. Statement of proposed method of financing the redevelopment project. The developer will provide all necessary financing for the project. The Authority will assist the project by granting the sum of $5,829,686 from the proceeds of the TIF Indebtedness issued by the Authority. This indebtedness will be repaid from the Tax Increment Revenues generated from the project. TIF revenues shall be made available to repay the original debt and associated interest after January 1, 2026 through December 2045 or such term as identified within the approved contract with no portion to exceed a term of 15 years. The developer will use the TIF Note(s) to secure debt financing in an amount not to exceed $5,829,686 and accrued interest to be paid to the note holder(s) during the term of the financing. c. Statement of feasible method of relocating displaced families. No families will be displaced as a result of this plan. 7. Section 18-2113 of the Act requires: Prior to recommending a redevelopment plan to the governing body for approval, an authority shall consider whether the proposed land uses and building requirements in the redevelopment project area are designed with the general purpose of accomplishing, in conformance with the general plan, a coordinated, adjusted, and harmonious development of the city and its environs which will, in accordance with present and future needs, promote health, safety, morals, order, convenience, prosperity, and the general welfare, as well as efficiency and economy in the process of development, including, among other things, adequate provision for traffic, vehicular parking, the promotion of safety from fire, panic, and other dangers, adequate provision for light and air, the promotion of the healthful and convenient distribution of population, the provision of adequate transportation, water, sewerage, and other public utilities, schools, parks, recreational and Page 58 of 188 community facilities, and other public requirements, the promotion of sound design and arrangement, the wise and efficient expenditure of public funds, and the prevention of the recurrence of insanitary or unsafe dwelling accommodations or conditions of blight. The Authority has considered these elements in proposing this Plan Amendment. This amendment, in and of itself will promote consistency with the Comprehensive Plan. This will have the intended result of preventing recurring elements of blighted and substandard conditions within the area. 8. Time Frame for Development Development of this project is anticipated to be completed between December of 2023 and December of 2030. Excess valuation should be available for this project for 15 years beginning with the 2025 tax year. This is the fourth phase of development of this property and it is anticipated that additional projects will be brought forward for separate consideration on other lots within this and adjacent subdivisions. 9. Justification of Project Extension of utilities, substantial site grading and installation of streets are necessary to facilitate redevelopment of this site. The redevelopment of this property by Prataria Ventures, LLC, will result in increased employment opportunities. This is development is a continuation of efforts to extend development south along U.S. Highway 281 toward U.S. Interstate 80. The Grand Island City Council has made in the past made it clear through previous decisions that they support development toward the I-80/281 interchange. 10. Cost Benefit Analysis Section 18-2113 of the Act, further requires the Authority conduct a cost benefit analysis of the plan amendment in the event that Tax Increment Financing will be used. This analysis must address specific statutory issues. As authorized in the Nebraska Community Development Law, §18-2147, Neb. Rev. Stat. (2012), the City of Grand Island has analyzed the costs and benefits of the proposed project, including: Project Sources and Uses. A maximum of $5,829,686 in public funds from tax increment financing provided by the Grand Island Community Redevelopment Authority will be required to complete the project. This investment by the Authority will leverage $49,177,580 in private sector financing and investment; a private investment of $8.44 for every TIF dollar investment. Page 59 of 188 Use of Funds Source of funds Description TIF Funds Private Funds Total Acquisition $ 2,274,128 Building Costs $ 41,520,368 $ 41,520,368 Sanitary Sewer $ 300,000 $ 300,000 Water $ 591,000 $ 591,000 Public Streets $ 1,698,697 $ 134,212 $ 1,832,909 Bike Trails $ 400,861 $ 400,861 Grading/Dirtwork $ 528,000 $ 528,000 Planning (Arch. & Eng.) $ 3,650,000 $ 3,650,000 Façade Enhancement $ 1,060,000 $ 1,060,000 Financing $ 135,000 $ 135,000 Other (Landscaping) $ 780,000 $ 780,000 Legal/ TIF contract $ 37,000 $ 320,000 $ 357,000 Contingency $ 1,578,000 $ 1,578,000 Total $5,829,686 $49,177,580 $55,007,266 Tax Revenue. The property to be redeveloped is has a January 1, 2024, valuation of all properties involved is approximately $907,243. Based on the 2022 levy this would result in a real property tax of approximately $19,199. It is anticipated that the assessed value will increase by $31,172,105 upon full completion, as a result of the site redevelopment. This development will result in an estimated tax increase of over $659,671 annually resulting in approximately $4,029,239 of increment over the 15 year period without any further increases in valuation. The tax increment gained from this Redevelopment Project Area would not be available for use as city general tax revenues, for a period of 15 years, or such shorter time as may be required to amortize the TIF bond and interest on the bond, but would be used for eligible private redevelopment costs to enable this project to be realized. Estimated 2024 assessed value $907,243 Estimated value after completion $32,079,348 Increment value $31,173,105 Annual TIF generated (estimated)$659,671 TIF bond issue $5,829,686 (a) Tax shifts resulting from the approval of the use of Tax Increment Financing; The redevelopment project area currently has an estimated valuation of $907,243. The proposed extension improvements at this location will result in at least an additional $31,173,105 of taxable valuation based on the Hall County Assessor’s office evaluation of the project. No tax shifts are anticipated from the project. The project creates additional valuation that will support taxing entities long after the project is paid off. The project will not add any tax burdens to taxing entities. Therefore no tax shifts will occur. Page 60 of 188 (b) Public infrastructure and community public service needs impacts and local tax impacts arising from the approval of the redevelopment project; No additional public service needs have been identified. Existing water and waste water facilities will not be impacted by this development. The electric utility has sufficient capacity to support the development. It is not anticipated that this will impact schools. Fire and police protection are available and should not be impacted by this development. (c) Impacts on employers and employees of firms locating or expanding within the boundaries of the area of the redevelopment project; The proposed uses at this site would provide for expansion of office and service jobs within the area and compete with similar located in and locating in the City. (d) Impacts on other employers and employees within the city or village and the immediate area that are located outside of the boundaries of the area of the redevelopment project; and This project is unlikely to have an impact on other employers and employees within the city. (e) Impacts on the student population of school districts within the city or village; and This project is unlikely to create any direct increase in cost for schools in the area. (f) Any other impacts determined by the authority to be relevant to the consideration of costs and benefits arising from the redevelopment project. This project will continue growth along the 281 corridor in the direction of I-80. Time Frame for Development Development of this project is anticipated to be completed between Winter of 2023 and Winter of 2030. The base tax year should be calculated on the value of the property as of January 1, 2024. Excess valuation should be available for this project for 15 years beginning in 2025 with taxes due in 2026. Excess valuation will be used to pay the TIF Indebtedness issued by the CRA per the contract between the CRA and the developer for a period not to exceed 15 years or an amount not to exceed $5,829,686 the projected amount of increment along with any interest on the bond(s) (Projected Value of the Bonds is $9,809,197), based upon the anticipated value of the project and current tax rate. Page 61 of 188 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 62 of 188 Form Updated 7-25-2019cn Page | 2 Present Ownership Proposed Project Site: ________________________________________________________________ _____________________________________ Is purchase of the site contingent on Tax Increment Financing Approval? Yes No Proposed Project: Building square footage, size of property, description of buildings – materials, etc. Please attach site plan, if available. ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________ If Property is to be Subdivided, Show Division Planned: See Exhibit A3 Page 63 of 188 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 64 of 188 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 65 of 188 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 66 of 188 H*LOTS FOR SALE SHOW PROPOSED BUILDING FOOTPRINTSGUIDE1. GRAND ISLAND REGIONAL MEDICAL CENTER2. PRAIRIE COMMONS MEDICAL OFFICE BUILDING3. P.C. M.O.B. 2.0 LOT (IN PLANNING)4. EQUITABLE BANK LOT (IN PLANNING)5. TABITHA AT PRAIRIE COMMONS6. CAMPUS DAYCARE LOT (IN PLANNING)7. LOT FOR SALE8. LOT FOR SALE9. ALLEN CAPITAL GROUP/ UNITY EYE CENTER10. CHIEF INDUSTRIES HEADQUARTERS LOT (IN PLANNING)11. CAMPUS RESTAURANT/BAR LOT (IN PLANNING)12. CAMPUS TAVERN LOT (IN PLANNING)13. CAMPUS APARTMENTS LOT (IN PLANNING)14. LOT FOR SALE15. LOT FOR SALE16. LOT FOR SALE17. LOT FOR SALE18. LOT FOR SALE19. SPRINGHILL SUITES BY MARRIOTT LOT (IN PLANNING) 20. LOT FOR SALE 21. LOT FOR SALE22. LOT FOR SALE23. LOT FOR SALE24. LOT FOR SALE25. QUICK SERVICE RESTAURANT (IN PLANNING)26. COMMERCIAL OFFICE (IN PLANNING)27. LOT FOR SALE28. LOT FOR SALE29. LOT FOR SALE30. LOT FOR SALEHWY 281PRAIRIEVIEW STREETDEVELOPMENT®HUSKER HWYPRAIRIEVIEW STREETRAE ROADEWOLDT STREET1258910111415161718192021222324252627293028COMPLETEDIN PLANNINGLOT FOR SALEKEY71312346TIF APPLICATION:10. CHIEF INDUSTRIES HEADQUARTERS11. CAMPUS RESTAURANT/BAR19. SPRINGHILL SUITES BY MARRIOTT25. QUICK SERVICE RESTAURANT26. COMMERCIAL OFFICEExhibit APage 67 of 188 Exhibit A2 Prairie Commons South Phase TIF ApplicaƟon Proposed Project: Building square footage, size of property, descripƟon of buildings – materials, etc. Please aƩach site plan, if available. ¾The proposed hotel is planned to be a 129-room four-story SpringHill Suites by MarrioƩ. The hotel is to be 77,804 sq. Ō. and located on the 2.699 acre parcel at Prairie Commons 6th Subdivision Lot 4 (parcel #400433893). The exterior elevaƟons is an EIFS system that blends with the design-style that complements the campus look and feel. See Exhibit B1. ¾The new proposed Chief Industries Corporate Office/Headquarters is a three-story building consisƟng of 43,298 square feet (all-inclusive of paƟos and phantom-space in the open lobby areas). The site will be on Lot 2 of Prairie Commons 4th Subdivision (Parcel #400433853), which is a 7.534 acre site. The framing system is structural steel with metal panel and stone/brick exterior. Extensive curtain wall glass systems will be uƟlized for a highly aestheƟc exterior appearance. There are numerous roof extensions, canopies, and roof-top paƟos to give this Class A office the employee ameniƟes all while creaƟng a significant presence in the community and in the Prairie Commons campus. See Exhibit C1. ¾The proposed Commercial/Financial Office building is planned to be a two-story 12,200 square foot structure, located on the 1.14 acre Lot 1 of Ponderosa Village Second Subdivision (Parcel #400385023). Preliminary plans are for a metal panel and brick/stone exterior. Design concept to be consistent with the other Class A offices in the development. See Exhibit D1. ¾The proposed Quick Service Restaurant (QSR) is planned to be a single-story 2,240 square foot structure. This QSR is to be located on the 1.35 acre Lot 9 on the Prairie Commons 6th Subdivision (Parcel #400433917). The exterior is planned to be metal panel and stone/brick features. The site will accommodate an extensive drive-through to accommodate a high-volume of vehicles. See Exhibit E1. ¾The proposed restaurant/bar (Project ScoƩsdale) is a single-story structure consisƟng of 7,495 square feet of enclosed space with 1,863 square feet of paƟo space. This facility will be located on a porƟon of Lot 3 of Prairie Commons 6th Subdivision. The area for this restaurant/bar will be approximately 2.2735 acres. The exterior will consist of EIFS, metal panel, and stone/brick. Design features will be consistent with campus look & feel. See Exhibit F1. Page 68 of 188 Prairie Commons South TIF Application10/13/2023Exhibit A3Chief Ind. HQ Hotel-SHS Marriott Project Scottsdale (Restaurant/Bar) Quick Service Restaurant Commercial/Financial Office Developer Costs TotalsVI. Estimated Project Costs:Acquisition Costs:A. Acquisition Costs: -$ 940,000$ 396,128$ 515,000$ 423,000$ -$ 2,274,128$ B. Building-$ -$ -$ -$ -$ -$ -$ Construction Costs:A. Renovation or Building Costs: 16,137,262$ 16,362,605$ 2,978,123$ 1,002,378$ 5,040,000$ -$ 41,520,368$ B. On-Site Improvements:Sewer85,000$ 60,000$ 85,000$ 30,000$ 40,000$ -$ 300,000$ Water150,000$ 150,000$ 200,000$ 21,000$ 70,000$ -$ 591,000$ Electrical-$ -$ -$ -$ -$ Gas-$ -$ -$ -$ -$ Public Streets / Sidewalks 175,000$ 135,909$ 50,000$ 45,000$ 50,000$ 1,377,000$ 1,832,909$ Private Streets -$ -$ -$ -$ -$ -$ -$ Bike Trails78,738$ 42,486$ 31,877$ 32,622$ -$ 215,138$ 400,861$ Grading / Dirtwork / Fill 204,000$ 99,000$ 95,000$ 35,000$ 95,000$ -$ 528,000$ Façade Enhancement 720,000$ -$ 150,000$ 55,000$ 135,000$ 0 1,060,000$ Demolition-$ -$ -$ -$ -$ -$ -$ Other ( Landscaping) 450,000$ 150,000$ 60,000$ 60,000$ 60,000$ -$ 780,000$ Sub Total 1,862,738$ 637,395$ 671,877$ 278,622$ 450,000$ 1,592,138$ 5,492,770$ Soft Costs: A. Architectural & Engineering Fees 756,000$ 657,000$ 250,000$ 75,000$ 378,000$ 144,000$ 2,260,000$ B. Financing Fees 45,000$ 50,000$ 20,000$ 10,000$ 10,000$ -$ 135,000$ C. Legal Fees 75,000$ 202,000$ 40,000$ 20,000$ 20,000$ -$ 357,000$ D. Planning/Development 125,000$ 950,000$ 125,000$ 75,000$ 95,000$ 20,000$ 1,390,000$ E. Audit Fees-$ -$ -$ -$ -$ -$ F. Contingency Reserves 350,000$ 828,000$ 150,000$ 75,000$ 125,000$ 50,000$ 1,578,000$ G. Other ( Real Estate Taxes during Construction) -$ -$ -$ -$ -$ -$ -$ Sub Total 1,351,000$ 2,687,000$ 585,000$ 255,000$ 628,000$ 214,000$ 5,720,000$ Totals of Acq. Costs, Const. Costs,Improvements & Soft Costs 19,351,000$ 20,627,000$ 4,631,128$ 2,051,000$ 6,541,000$ 1,806,138$ 55,007,266$ Total Estimated Market Value at Completion:17,317,000$ 21,845,000$ 2,998,000$ 1,350,000$ 4,880,000$ -$ 48,390,000$ Source for Est. Market Value (all market experience and compariables)Source of Financing:A. Developer Equity 4,605,332$ 5,078,002$ 1,201,748$ 523,968$ 1,608,530$ -$ 13,017,579$ B. Commercial Bank Loan 10,745,775$ 11,848,671$ 2,804,078$ 1,222,591$ 3,753,236$ -$ 30,374,351$ C. Tax Credits 1. N.I.F.A.-$ -$ -$ -$ -$ -$ -$ 2. Historical Tax Credits -$ -$ -$ -$ -$ -$ -$ 3. New Market Tax Credits -$ -$ -$ -$ -$ -$ -$ 4. Opportunity Zone -$ -$ -$ -$ -$ -$ -$ D. Industrial Revenue Bonds -$ -$ -$ -$ -$ -$ -$ E. Tax Increment Financing 3,999,893$ 3,700,326$ 625,302$ 304,441$ 1,179,235$ -$ 9,809,197$ F. Enhanced Employment Area -$ -$ -$ -$ -$ -$ -$ G. Nebraska Housing Trust Fund -$ -$ -$ -$ -$ -$ -$ H. Other-$ -$ -$ -$ -$ -$ -$ Page 69 of 188 ChiefInd.HQHotelͲSHSMarriottProjectScottsdale(Restaurant/Bar)QuickServiceRestaurantCommercial/FinancialOffice DeveloperCosts TotalsͲ$940,000$396,128$515,000$423,000$Ͳ$2,274,128$85,000$60,000$85,000$30,000$40,000$ Ͳ$300,000$150,000$150,000$200,000$21,000$70,000$ Ͳ$591,000$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$175,000$135,909$50,000$45,000$50,000$1,377,000$1,832,909$Ͳ$ Ͳ$Ͳ$Ͳ$ Ͳ$ Ͳ$Ͳ$78,738$42,486$31,877$32,622$Ͳ$215,138$400,861$204,000$99,000$95,000$35,000$95,000$Ͳ$528,000$720,000$ Ͳ$150,000$55,000$135,000$0 1,060,000$Ͳ$ Ͳ$Ͳ$Ͳ$ Ͳ$ Ͳ$Ͳ$450,000$150,000$60,000$60,000$60,000$ Ͳ$780,000$1,862,738$637,395$671,877$278,622$450,000$1,592,138$5,492,770$PrairieCommonsSouthTIFApplication(EligibleTIFExpenses)9/20/2023ExhibitA4VI.EstimatedProjectCosts:AcquisitionCosts:A.AcquisitionCosts:ConstructionCosts:B.OnͲSiteImprovements:SewerWaterElectricalGasPublicStreets/SidewalksPrivateStreetsBikeTrailsGrading/Dirtwork/FillFaçadeEnhancementDemolitionOther(Landscaping)SubTotalSoftCosts:A. Architectural&EngineeringFees756,000$657,000$250,000$75,000$388,125$144,000$2,270,125$B. FinancingFees 45,000$50,000$20,000$10,000$10,000$Ͳ$135,000$C. LegalFees75,000$202,000$40,000$20,000$20,000$ Ͳ$357,000$D. Planning/Development 125,000$950,000$125,000$75,000$95,000$20,000$1,390,000$E. AuditFeesͲ$Ͳ$Ͳ$Ͳ$Ͳ$Ͳ$F. ContingencyReserves 350,000$828,000$150,000$75,000$125,000$50,000$1,578,000$G. Other(RealEstateTaxesduringConstruction)Ͳ$ Ͳ$Ͳ$Ͳ$ Ͳ$ Ͳ$Ͳ$SubTotal1,351,000$2,687,000$585,000$255,000$638,125$214,000$5,730,125$TotalEstimatedTIFEligibleCostsPerProjectandPublicImprovements:3,213,738$4,264,395$1,653,005$1,048,622$1,511,125$1,806,138$13,497,023$Page 70 of 188 PRAIRIE COMMONS SOUTH (PHASE 3) TIF APPLICATION Interest Rate:7.50% TIF Period (yrs):15 45,212$ Annual Estimated Estimated Present Valuation Increment Value Quick Service Restaurant (QSR)1,027,126$ 20,296$ $180,932 Chief Corp. HQ 13,125,828$ 266,660$ $2,377,169 Hotel/SpringHIll Suites 11,845,100$ 246,688$ $2,199,134 Commercial/Financial Office 3,859,064$ 78,616$ $700,829 Restaurant/Bar (Project Scottsdale)2,222,230$ 41,687$ $371,622 32,079,348$ 653,946$ 5,829,686$ Years 15 9,809,197$ Exhibit A5 Page 71 of 188 ';Ë  ¼Ë?Ë6ËË Ê‰fƒ†¦¬´vË       €b‚cuË@ËAË              ;                        EUË¨Ë ³=ŠU˽ËK©M‡RHqËenF„‹ˆVËËQl3>ŽË½ËsmªN9«¶ËwW~GXk¡J˜rYPTgË:81…{tËx¾ZËhˤd[\LO|Ÿ ²Ë¿ÀÁ—0Ë -.;`jË.Ë7  ËIz™¢ž£#‘˜/;ÂË *,Ë •)$·®¸°ÃË/0;}(­ÄÅË]S^_Ë+˒“Ë ”Ɩ¥ËŒ¹µºÇ»ÈË C%& ±ËÉ!'"aoË4<ËiyË-Ëpš5¯›§Ë&9%7()4:8,56*;11111111111111111111111111111111111111111111212;3"####"$+!                 $,&2$,"#)2(2(.2!2  2*$2 '$2 DË 2Ë2Ë 2ËBË01$' 2 %+2$'222(-(&/2$2 2#2!!2')(2'('.2Page 72 of 188                          -P069S20S#¯B‘†W¤oWˆ¯C~W‹¯-:-¯D221¯-N¯;¯DrŒ¯!¯-š_or¤d_ªšd¯3”§‹sŽ¯NW‡¯Nœ‘{¥¯-š_or¤g¤¯ !! ¯<¯y‘ˆW¥q~t†d!Xš_or¤g¤§šd _’…¯2š€e¯8Wˆ¢dˆ¯-=-¯D221¯-O¯<¯Dvˆd¯¯-œbv¤fa¤§œd¯4”§‹u¯NW¯N›‘yg¤¯HWˆWnš¯   ¯<¯dœr_,vˆdWœ_o¤g¤¦œd_‘…¯QTPU0SFP.¯2J5=J22P$¯BW¬¢‘ˆ¯E•¨d¯>¯Qv‚¨dœ—Z¯2Šmr†hŸwŠm¯zW­v‚¨dœ—[d_‘…¯I207-J?0-D¯2J5@J22P%¯/œWc¯Qpd£—Wd¯;¯QoW}d¡˜d¯2vˆddœv¯^Y,¡oW|kdXžd jm_’…¯2E20SPA0-D¯2K5:L22P'¯1W©rc¯7vˆ_|~d«¯<¯R¤ ¦…¯2rˆddœ¡¯cW¨xovˆ_}~f¬,¡™d_’…¯0@V:D¯2J5@J22P&¯/œvWˆ¯1id†¯<¯M~¡¡’ˆ¯\ƒ†_“…¯GJ1Q0-O2¯-P08:S20T&¯/švWŠ¯d†¯<¯M¡¡’ˆ¯]„‰`–…¯“l¯    %XHIBITº"         )("* ¯ ®+¯ $+&2$+"#)2(2(-2! 2 2*$2 '$2/01'2 %!2$'2 22(,(&.2$2  2#2!!2')(2'('-2Page 73 of 188 Annual Estimated Assessed Caluation and Real Estate Tax Capture SpringHill Suites Hotel by Marriott (Prairie Commons 6th Sub Lot 4---Parcel #400433893)Assessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 2 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 3 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 4 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 5 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 6 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 7 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 8 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 9 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 10 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 11 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 12 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 13 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 14 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 15 188,080 188,080 709.67 2,031.26 150.14 143.65 600.83 27.98 169.78 44.09 4.74 16.94 44.05 37.06 3,980 Total property taxes - base year 10,645.01 30,468.96 2,252.05 2,154.80 9,012.44 419.68 2,546.75 661.29 71.09 254.11 660.73 555.95 59,703 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase 0.00%1 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 2 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 3 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 4 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 5 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 6 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 7 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 8 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 9 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 10 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 11 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 12 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 13 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 14 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 15 11,845,100 11,845,100 44,694.17 127,927.08 9,455.47 9,047.17 37,839.65 1,762.08 10,692.81 2,776.49 298.50 1,066.89 2,774.12 2,334.20 250,669 Total property taxes - base year 670,412.52 1,918,906.20 141,832.04 135,707.53 567,594.69 26,431.16 160,392.13 41,647.37 4,477.45 16,003.32 41,611.84 35,012.93 3,760,029 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 2 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 3 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 4 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 5 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 6 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 7 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 8 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 9 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 10 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 11 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 12 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 13 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 14 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 15 11,657,020 11,657,020 43,984.50 125,895.82 9,305.33 8,903.52 37,238.82 1,734.10 10,523.03 2,732.41 293.76 1,049.95 2,730.07 2,297.13 246,688 Total property taxes - base year 659,767.52 1,888,437.24 139,579.99 133,552.73 558,582.25 26,011.47 157,845.38 40,986.08 4,406.35 15,749.22 40,951.11 34,456.99 3,700,326 Estimated Present Value$2,199,134Interest Rate 7.50%&YIJCJU#Page 74 of 188 Assessed Value ProjectionsSpringHill Suites Hotel by Marriott (Prairie Commons 6th Sub >ŽƚϰͲͲͲWĂƌĐĞůηϰϬϬϰϯϯϴϵϯ1. Prairie Commons HotelCompleted BuildingsAssume $90K per room valuationUnits129Building Value/unit:90,000$ Total Building Value:$11,610,000Lot area (sf)117,550 Lot value (sf)$2.00Lot Value (sf)$235,100Total Value:$11,845,100TIF Calculations1. Prairie Commons HotelAssumptions:Tax Rate (2020):2.1766Base Year:2023Interest Rate:7.50%TIF Period (yrs):142020 assessed value per square ft$1.60000$188,080$11,845,100$11,657,020Base Value Completed (rounded) IncrementdžŚŝďŝƚϮPage 75 of 188 BIM 360://23016 Chief Industries HQ - Grand Island/23016_Chief Industries HQ_Grand Island_Arch_SD_R21.rvtChief Industries HQ07/31/23SITE PLANEWOLDT STCHIEF HQPRAIRI E V I E W S T Exhibit C1Page 76 of 188 /(9(/  /(9(/  /(9(/  72522)'(&.     &::'0303676)&:0367&:/(9(/  /(9(/  /(9(/  72522)'(&.  $)&(,%+*'   &:0303&:6)676766/(9(/  /(9(/  /(9(/  72522)'(&.     03036667676)6):'/(9(/  /(9(/  /(9(/  72522)'(&.  $)&(,%+*'   6)&::'0303670303:'67%,0&KLHI,QGXVWULHV+4*UDQG,VODQGB&KLHI,QGXVWULHV+4B$UFKB&'B5UYW&KLHI,QGXVWULHV+46&+(0$7,&(/(9$7,216&: &857$,1:$//6<67(06) 6725()52176<67(003 0(7$/3$1(/$/80,1805$,16&5((16<67(003 0(7$/3$1(/$/80,180&20326,7(3$1(/67 6721(0$6215<9(1((5/,0(6721(25/,0(6721(,0,7$7,21:' :22'3$1(/&/$'',1* 62)),73$1(/66,08/$7(':22'210(7$/3$1(/25:22'9(1((53+(12/,&66 67$1',1*6($0522),1*6'6&$/(  1257+(/(9$7,216'6&$/(  ($67(/(9$7,216'6&$/(  6287+(/(9$7,216'6&$/(  :(67(/(9$7,21([KLELW&Page 77 of 188 CHIEF INDUSTRIESVIEW AT CORNER OF PRAIRIEVIEW AND EWOLDT&YIJCJU$Page 78 of 188 CHIEF INDUSTRIESVIEW ALONG PRAIRIEVIEW ST HEADED NORTH&YIJCJU$Page 79 of 188 CHIEF INDUSTRIESSOUTHWEST CORNER&YIJCJU$Page 80 of 188 CHIEF INDUSTRIESNORTHWEST CORNER AT THE MAIN ENTRANCE&YIJCJU$Page 81 of 188 Annual Estimated Assessed Caluation and Real Estate Tax Capture Chief Corporate HQ (Prairie Commons 4th Sub Lot 2---Parcel #400433853)Assessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 2 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 3 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 4 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 5 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 6 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 7 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 8 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 9 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 10 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 11 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 12 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 13 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 14 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 15 525,091 525,091 1,981.28 5,670.98 419.16 401.06 1,677.42 78.11 474.01 123.08 13.23 47.29 122.98 103.47 11,112 Total property taxes - base year29,719.27 85,064.77 6,287.39 6,015.89 25,161.37 1,171.69 7,110.15 1,846.22 198.48 709.42 1,844.65 1,552.12 166,681 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase0.00%1 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 2 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 3 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 4 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 5 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 6 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 7 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 8 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 9 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 10 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 11 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 12 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 13 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 14 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 15 13,125,828 13,125,828 49,526.64 141,758.94 10,477.82 10,025.38 41,930.98 1,952.60 11,848.95 3,076.69 330.77 1,182.24 3,074.07 2,586.58 277,772 Total property taxes - base year742,899.55 2,126,384.14 157,167.35 150,380.64 628,964.74 29,288.97 177,734.21 46,150.41 4,961.56 17,733.65 46,111.03 38,798.63 4,166,575 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 2 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 3 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 4 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 5 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 6 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 7 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 8 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 9 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 10 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 11 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 12 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 13 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 14 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 15 12,600,737 12,600,737 47,545.35 136,087.96 10,058.66 9,624.32 40,253.56 1,874.49 11,374.94 2,953.61 317.54 1,134.95 2,951.09 2,483.10 266,660 Total property taxes - base year 713,180.28 2,041,319.36 150,879.96 144,364.75 603,803.37 28,117.28 170,624.06 44,304.19 4,763.08 17,024.23 44,266.39 37,246.52 3,999,893 Estimated Present Value $2,377,169Interest Rate 7.50%1,201,113.69 džŚŝďŝƚϮPage 82 of 188 Value Projections 1.Chief Corporate HQ (Prairie Commons 4th Sub Lot 2---Parcel #400433853) Completed Coffee Shop Completed Base Building Area (sf):39,377 0 Building Value/SF:$300 Total Building Value:$11,813,100 $0 Land Area (sf):328,182 328,182 Land Value/SF:$4.00 $1.60 Total Land Value:$1,312,728 $525,091 Total Value:Notice to Divide Year $13,125,828 $525,091 Exhibit C2 Page 83 of 188 Exhibit D1Page 84 of 188 Annual Estimated Assessed Caluation and Real Estate Tax Capture Ponderosa Village 2nd Sub Lot 1 (Parcel #400385023) Assessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 2 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 3 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 4 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 5 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 6 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 7 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 8 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 9 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 10 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 11 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 12 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 13 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 14 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 15 144,158 144,158 543.94 1,556.91 115.08 110.11 460.52 21.44 130.13 33.79 3.63 12.98 33.76 28.41 3,051 Total property taxes - base year 8,159.10 23,353.60 1,726.13 1,651.60 6,907.78 321.67 1,952.01 506.86 54.49 194.76 506.43 426.12 45,761 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100%0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase 0.00% 1 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 2 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 3 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 4 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 5 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 6 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 7 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 8 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 9 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 10 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 11 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 12 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 13 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 14 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 15 3,859,064 3,859,064 14,561.10 41,677.89 3,080.54 2,947.51 12,327.93 574.07 3,483.65 904.56 97.25 347.59 903.79 760.47 81,666 Total property taxes - base year 218,416.46 625,168.37 46,208.05 44,212.72 184,919.01 8,611.12 52,254.81 13,568.47 1,458.73 5,213.79 13,556.89 11,407.01 1,224,995 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100%0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 2 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 3 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 4 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 5 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 6 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 7 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 8 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 9 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 10 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 11 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 12 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 13 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 14 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 15 3,714,906 3,714,906 14,017.16 40,120.98 2,965.46 2,837.41 11,867.42 552.63 3,353.52 870.77 93.62 334.60 870.03 732.06 78,616 Total property taxes - base year 210,257.36 601,814.77 44,481.91 42,561.12 178,011.24 8,289.44 50,302.80 13,061.61 1,404.23 5,019.02 13,050.46 10,980.89 1,179,235 Estimated Present Value $700,829 Interest Rate 7.50% Exhibit D2 Page 85 of 188 Value ProjectionsPonderosa Village 2nd Sub Lot 1 (Parcel #400385023)1. Commercial/Financial OfficeTwo Story OfficeCompleted BaseBuilding Area (sf): 12,200 0Building Value/SF: $300Total Building Value: $3,660,000 $0Land Area (sf): 49,766 49,766 Land Value/SF: $4.00 $2.90Total Land Value: $199,064 $144,158Total Value: Notice to Divide Year $3,859,064 $144,158džŚŝďŝƚϮPage 86 of 188 BY-PASS LANENEEEEEEESTARBUCKSHWY. 281 & RAE RD.GRAND ISLAND, NEBRASKAPROPOSED SITE PLAN2023-18??/??/??A1.1??/??/????/??/??STANLEY J. HOW ARCHITECTS, INC.© A R C H I T E C T SExhibit E1Page 87 of 188 Annual Estimated Assessed Caluation and Real Estate Tax Capture Quick Service Restaurant (Prairie Commons 6th Sub---Parcel #400433917)Assessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 2 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 3 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 4 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 5 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 6 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 7 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 8 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 9 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 10 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 11 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 12 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 13 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 14 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 15 68,056 68,056 256.79 735.00 54.33 51.98 217.41 10.12 61.44 15.95 1.72 6.13 15.94 13.41 1,440 Total property taxes - base year 3,851.83 11,025.02 814.89 779.70 3,261.10 151.86 921.53 239.28 25.73 91.95 239.08 201.17 21,603 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase 0.00%1 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 2 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 3 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 4 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 5 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 6 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 7 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 8 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 9 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 10 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 11 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 12 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 13 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 14 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 15 1,027,126 1,027,126 3,875.57 11,092.96 819.91 784.51 3,281.19 152.80 927.21 240.76 25.88 92.51 240.55 202.41 21,736 Total property taxes - base year 58,133.56 166,394.35 12,298.70 11,767.62 49,217.91 2,291.93 13,908.10 3,611.37 388.25 1,387.70 3,608.29 3,036.08 326,044 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 2 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 3 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 4 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 5 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 6 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 7 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 8 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 9 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 10 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 11 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 12 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 13 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 14 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 15 959,070 959,070 3,618.78 10,357.96 765.59 732.53 3,063.79 142.67 865.77 224.81 24.17 86.38 224.61 188.99 20,296 Total property taxes - base year 54,281.73 155,369.33 11,483.81 10,987.92 45,956.81 2,140.07 12,986.57 3,372.09 362.53 1,295.75 3,369.21 2,834.91 304,441 Estimated Present Value$180,932Interest Rate 7.50%džŚŝďŝƚϮPage 88 of 188 Value Projections1. Quick Service Restaurant (Prairie Commons 6th Sub---Parcel #400433917)Completed Coffee ShopCompleted BaseBuilding Area (sf): 2,280 0Building Value/SF: $350Total Building Value: $798,000 $0Land Area (sf): 57,281 57,281 Land Value/SF: $4.00 $1.19Total Land Value: $229,126 $68,056Total Value: Notice to Divide Year $1,027,126 $68,056Exhibit E2Page 89 of 188 ($6(0(17     $3352; )520321'(526$/$.(=21(*(1(5$/%86,1(66 % 6(7%$&.6)5217 5($5 6,'( /$1'6&$3(%8))(55(48,5(0(17 2))675((7<$5'3$5.,1*5(48,5(0(17663$&(6)25(9(5<6($76 5(67$85$17 63$&()25(9(5<6($76 &21)(5(1&($66(0%/< 5(48,5(' $'$ $9$,/$%/( $'$ 6(77/(552$'5(67$85$173$7,2($6(0(17 (175</27127((;,67,1*%,.(75$,/ 127(35,9$&<)(1&( $'$    $'$    127(3267,1',&$7259$/9(127((/(&7521,&75$16)250(575$6+(1&/2685(127(352326('1(:3523(5/</,1(127((/(&7521,&75$16)250(5127('5,9(:$<)25'(/,9(5,(6127($5($)25/,9(086,&67$*(127($5($)256($7,1*127(&2%%/(6721(3$9,1*#0$,1(175$1&($1'3$7,2 6 %$5 $ %$5 % 3$7,23$7,2   $'$  127('5,9(:$<)25'(/,9(5,(6 75$6+(1&/2685(127(&2%%/(6721(3$9('3$7+72/,9(086,& 127(352326('&20021'5,9(&21)(5(1&(3$7,2MYYU\\\HMNJKHTSXYWZHYNTSZX0*&73*>3*ª,7&3).81&3)3*ª8-**934574/*(93&2*8(&1*574/*(934)&9*)7&<3'>)*8.,3':.1)ª ,*3*7&1(4397&(9478127)25&216758&7,217KHVHSODQVDUHWKHSURSHUW\RI&+,()&216758&7,217KH\DUHQRWWREHUHSURGXFHGRUGLVWULEXWLHGLQDQ\PDQQHUZLWKRXWWKHZULWWHQFRQVHQWRI&+,()&216758&7,21&21),'(17,$/  $ (1*/,6+$352-(&76&2776'$/(*5$1',6/$1'1($5&+,7(&785$/6,7(3/$1  6,7(3/$1Exhibit F1Page 90 of 188 $$$$        )$&(72)$&(2)678'  )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678' )$&(72)$&(2)678'      9(67+267%$5:$6+055055055:55:55:55&21)(5(1&(.,7&+(13$7,2:,1(5220',1,1*     127(23(5$%/(3$57,7,216127(%227+',9,'(56 %2;('287:22'3$1(/,1*127($%675$&7$573,(&(672%(86('$63$57,7,216 7+528*+2875(67$85$17 127(7528*+6,1.6<67(0           0(&+6725$*(2)),&(      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6721(&2/8016$73$7,2:22'7(;785(25:22'*5$,1$/806,',1*#7232)(,)6727232)3$5$3(7MYYU\\\HMNJKHTSXYWZHYNTSZX0*&73*>3*ª,7&3).81&3)3*ª8-**934574/*(93&2*8(&1*574/*(934)&9*)7&<3'>)*8.,3':.1)ª ,*3*7&1(4397&(9478127)25&216758&7,217KHVHSODQVDUHWKHSURSHUW\RI&+,()&216758&7,217KH\DUHQRWWREHUHSURGXFHGRUGLVWULEXWLHGLQDQ\PDQQHUZLWKRXWWKHZULWWHQFRQVHQWRI&+,()&216758&7,21&21),'(17,$/  $ (1*/,6+$352-(&76&2776'$/(*5$1',6/$1'1((;7(5,25(/(9$7,2161R 'HVFULSWLRQ 'DWH  6287+(/(9$7,21  1257+(/(9$7,21([KLELW)Page 93 of 188 MYYU\\\HMNJKHTSXYWZHYNTSZX0*&73*>3*ª,7&3).81&3)3*ª8-**934574/*(93&2*8(&1*574/*(934)&9*)7&<3'>)*8.,3':.1)ª ,*3*7&1(4397&(9478127)25&216758&7,217KHVHSODQVDUHWKHSURSHUW\RI&+,()&216758&7,217KH\DUHQRWWREHUHSURGXFHGRUGLVWULEXWLHGLQDQ\PDQQHUZLWKRXWWKHZULWWHQFRQVHQWRI&+,()&216758&7,21&21),'(17,$/$ (1*/,6+$352-(&76&2776'$/(*5$1',6/$1'1('9,(:'(;7(5,259,(:&YIJCJU'Page 94 of 188 Annual Estimated Assessed Caluation and Real Estate Tax CaptureAssessed value/taxes - base year (actual Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total 0.37732200 1.080000 0.079826 0.076379 0.319454 0.014876 0.090272 0.023440 0.002520 0.009007 0.023420 0.019706 2.116222 1 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 2 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 3 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 4 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 5 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 6 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 7 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 8 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 9 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 10 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 11 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 12 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 13 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 14 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 15 252,362 252,362 952.22 2,725.51 201.45 192.75 806.18 37.54 227.81 59.15 6.36 22.73 59.10 49.73 5,341 Total property taxes - base year 14,283.26 40,882.64 3,021.76 2,891.27 12,092.71 563.12 3,417.18 887.30 95.39 340.95 886.55 745.96 80,108 Assessed value/taxes - base year plus increment (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 Annual Valuation Increase 0.00%1 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 2 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 3 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 4 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 5 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 6 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 7 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 8 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 9 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 10 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 11 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 12 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 13 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 14 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 15 2,222,230 2,222,230 8,384.96 24,000.08 1,773.92 1,697.32 7,099.00 330.58 2,006.05 520.89 56.00 200.16 520.45 437.91 47,027 Total property taxes - base year 125,774.44 360,001.26 26,608.76 25,459.76 106,485.04 4,958.68 30,090.77 7,813.36 840.00 3,002.34 7,806.69 6,568.69 705,410 Assessed value/taxes - increment only (Estimated) Year Assessed Value (Base) Base Value General Fund School #2 General School #2 4th Bond School #2 5th Bond Grand Island City ESU #10 General Cent. Comm College Cent Platte NRD Hall County Ag Society Airport Auth General Airport Auth Bond CRA Total TIF Percent 100% 0.37732200 1.08000000 0.07982600 0.07637900 0.31945400 0.01487600 0.09027200 0.02344000 0.00252000 0.00900700 0.02342000 0.01970600 2.116222 1 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 2 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 3 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 4 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 5 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 6 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 7 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 8 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 9 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 10 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 11 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 12 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 13 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 14 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 15 1,969,868 1,969,868 7,432.75 21,274.57 1,572.47 1,504.57 6,292.82 293.04 1,778.24 461.74 49.64 177.43 461.34 388.18 41,687 Total property taxes - base year 111,491.18 319,118.62 23,587.00 22,568.48 94,392.33 4,395.56 26,673.59 6,926.06 744.61 2,661.39 6,920.15 5,822.73 625,302 Estimated Present Value$371,622Interest Rate 7.50%džŚŝďŝƚ&ϮPage 95 of 188 Value Projections1. Steakhouse ConceptOne Story OfficeCompleted BaseBuilding Area (sf): Don't inlcude Patio 7,495 0Building Value/SF: $250Total Building Value: $1,873,750 $0Land Area (sf): 87,120 87,120 Land Value/SF: $4.00 $2.90Total Land Value: $348,480 $252,362Total Value: Notice to Divide Year $2,222,230 $252,362džŚŝďŝƚ&ϮPage 96 of 188 Page 97 of 188 Resolution Number 2024-06 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 17 requested by Prataria 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 November 1, 2023, and WHEREAS, the chair or president of Hall County Board, Grand Island School Board, Central Platte Natural Resources District, Educational Service Unit #10 and Central Community College were notified by certified mail of said hearing, and WHEREAS, the Commission advertised the time, date and location public hearing in the Grand Island Independent on Wednesday October 11th, 2023 and Wednesday October 18th, 2023, 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: November 1, 2023 Page 98 of 188 HALL COUNTY REGIONAL PLANNING COMMISSION ATTEST: By: ___________________________________ Chair By: ___________________________________ Secretary Page 99 of 188 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission November 1, 2023 Date: November 1, 2023 Item #: 4.d. Subject: Rezoning – Grand Island -- Consideration of an application by Brian Levander to rezone Parcel # 4000149257 10.67 acres located south of Lake Street and west of Locust Street. Staff Contact: Chad Nabity BACKGROUND: PROPOSAL: To rezone approximately 10.67 acres of land south of Lake Street and west of South Locust Street, from LLR Large Lot Residential to B-2 General Business Zone, in the City of Grand Island. No change is proposed for the Gateway Corridor Overlay zone. OVERVIEW: Site Analysis Current zoning designation: LLR: Large Lot Residential. Intent of zoning district LLR: To provide for a transition from rural to urban uses, and is generally located on the fringe of the urban area. This zoning district permits residential dwellings at a maximum density of two dwelling units per acre, as well as other open space and recreational activities. Permitted and conditional uses: LLR: Agricultural uses, recreational uses and residential uses at a density of two dwelling units per acre. Proposed zoning district B-2: Residential uses at a density of up to 43 units per acre, a variety of commercial, retail, office and service uses. Comprehensive Plan Designation: Designated for commercial development. Existing land uses. Vacant Page 100 of 188 Adjacent Properties Analysis Current zoning designations: South: LLR: Large Lot Residential North: B-2:General Business and LLR- Large Lot Residential East: TA: Transitional Agricultural Zone West: LLR: Large Lot Residential Intent of zoning district: B-2: The intent of this zoning district is to provide for the service, retail and wholesale needs of the general community. This zoning district will contain uses that have users and traffic from all areas of the community and trade areas, and therefore will have close proximity to the major traffic corridors of the City. Residential uses are permitted at the density of the (R-4) High Density Residential Zoning District. Permitted and conditional uses: LLR: Agricultural uses, recreational uses and residential uses at a density of two dwelling units per acre. B-2: Residential uses at a density of up to 43 units per acre, a variety of commercial, retail, office and service uses. TA: allows for a transition from rural to urban uses, and is generally located on the fringe of the urban area. This zoning district permits both farm and non-farm dwellings at a maximum density of two dwelling units per acre. The intent of the zoning district also would allow the raising of livestock to a limit and within certain density requirements. Comprehensive Plan Designation: North, South, East and West: Designated Commercial Development. Existing land uses: North: Single-family home on large lot East: Farm Ground South: Single-family home on large lot West: Farm Ground EVALUATION: Positive Implications: • Consistent with the City’s Comprehensive Land Use Plan: The subject property is designated for highway commercial development (Typically B-2). Page 101 of 188 • Accessible to Existing Municipal Infrastructure: City water and sewer services are available to service the rezoning area. Negative Implications: No Negative Consequences Foreseen Other Considerations This proposal is consistent with the 2004 comprehensive plan. Page 102 of 188 2022 Aerial Photos Page 103 of 188 2004 Future Land Use Map as Adopted with the Grand Island Comprehensive Plan RECOMMENDATION: That the Regional Planning Commission recommend that the Grand Island City Council change the zoning on the this site from LLR-Large Lot Residential to B-2-General Business as requested and shown on the attached map. Page 104 of 188 SAMPLE MOTION: Move to recommend that the Grand Island City Council change the zoning on the this site from LLR-Large Lot Residential to B-2-General Business as requested and shown on the attached map. ATTACHMENTS: 1. Rezone App - Levander Page 105 of 188 Page 106 of 188 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission November 1, 2023 Date: November 1, 2023 Item #: 6.a. Subject: Comprehensive Plan Update and Payment of Claims Staff Contact: Chad Nabity BACKGROUND: Update on activites related to the Comprehensive Plans for Alda, Doniphan, Hall County and Grand Island. Also review and payment of claims submitted for those activities. RECOMMENDATION: Move to approve as recommended. SAMPLE MOTION: Move to approve as recommended. ATTACHMENTS: 1. Grand Island, NE City Council Update October 2023 2. Inv_1588_from_Marvin_Planning_Consultants_Inc_13904 3. Inv_1597_from_Marvin_Planning_Consultants_Inc_13904 4. Inv_1601_from_Marvin_Planning_Consultants_Inc_13904 Page 107 of 188 Grand Island, NE Comprehensive Plan Update CITY COUNTY UPDATE Page 108 of 188 Project Approach Page 109 of 188 Introduction Completed Page 110 of 188 Community Engagement -Mostly Completed •4 Town Hall Meetings –3 Each GIPS Middle Schools and 1 at Bosselman’s Corporate Offices •Interviews with City staff including Public Works, Utilities, Parks and Recreation, Emergency Management, Fire Chief, Police Chief, Library, Mayor Steele, and Craig Lewis •Interviews with Mark Otto (Innate Concepts), Amos Anson (many hats), Pat O’Neill, Cindy Johnson (Chamber of Commerce), Da-ly Agency, Ray O’Connor (O’Connor Enterprises), Josh Rhodes, Roger Bullington (Chief), and Cliff Mesner •MSP and MPC with City assistance reached out to the 4th Street business district •Community Surveys –570 surveys completed •MindMixer activity – •Crowdsourcing activity - Page 111 of 188 Population •Population examines the community’s population from various angles; •Past populations, •Population by ethnicity, •Age cohorts, •Population change based upon natural and migration patterns, and •Population projections based upon past trends, migration patterns Page 112 of 188 Housing •Development of the City’s Affordable Housing Action Plan •Like the Population Chapter except focused on key housing trends and needs. •Key Housing Goals/Objectives/Polices with timeline. •Review and include key aspects of the Grand Island Housing Study completed in 2020. •Review the housing situation to identify specific needs not being met. Page 113 of 188 Economics and Economic Development •Examines key economic indicators of the past and present. •Painting a picture of the stability of the local economy. •Economic development strategies and techniques along with future goals/objectives/policies. •Leland Consulting Group examining specific gaps in the local economy. •LCG will be involved in our proposed Sub-Area Plan. •Our goals are to provide the community with economic data; plus, •Provide potential opportunities so the future land use plan can be finetuned to meet Grand Island’s and Hall County’s future needs. Page 114 of 188 Parks and Recreation •Utilize the current Bike/Ped Study •Examines the existing parks and recreation facilities available within Grand Island •Compares the existing facilities and programs to national and regional standards to identify any major shortages or surpluses. •The future projections will also be compared to the population projections. •Goals/objectives/policies related to parks and recreation. Page 115 of 188 Community Facilities •Examines key facilities such as City Hall, historic sites, and education. •Contain any goals/objectives/polices identified for public facilities. •Examine specific levels of service needs and identify areas which may be lacking along with ideas to solve the gaps. Page 116 of 188 Public Safety •Law enforcement at the city and county level including facilities and locations •Fire and rescue facilities and stations. •Emergency Management and any other similar public safety component. •Goals/objectives/polices identified for public facilities. Page 117 of 188 Public Health •Public health in community planning is gaining interest •Advent of the COVID-19 pandemic it has become an even greater topic of discussion. The process will include: o Inventory and map of public health assets in the County (hospitals, clinics, docs, nurses) o Discussion of existing City or County public health related programs o Discussion of other policy areas which are integral to public health (parks/rec, transportation, walkability of land uses, etc.) o Best-practices discussion related to Covid o Staff/stakeholder meeting to generate some public health vision/goal language Page 118 of 188 Communication/Utilities/Energy •Examines different means for communication within Grand Island (newspaper, television, etc.). •Our team will sit down with the utilities department and discuss existing conditions, planned upgrades, and needed improvements. •Aid significantly in helping to determine future growth areas of the community. •Examine the different energy sources and needs in Grand Island. •Goals/objectives/polices identified for public facilities. Page 119 of 188 Hazards •A reiteration of key goals and policies from most recent Hazard Mitigation Plan (HMP) •Allows key policies and projects from the HMP to become apart of the overall planning process. •Note: Since most HMPs are updated every five-years, these data will need to be amended in order to stay current. Page 120 of 188 Land Use •Land use is a standard Comprehensive Plan element •Redevelopment is discussed, not just development. •Land use discussion occurs regarding barriers to future growth, areas in need of redevelopment (may be prioritized). •This section very graphic in order to make specific points. •Key goals/objectives/policies are apart of this section. •Provide an evaluation of zoning opportunities to promote affordable housing options including increases in density, new concepts for smaller homes and building lots, options for “Missing Middle” Housing and any other housing types for developing quality workforce housing. Page 121 of 188 Transportation •Transportation –Streets, sidewalks/trails, transit, airport, railroad •Specific policies regarding connectivity and road sharing are typically found within this topic. Other issues may be relevant once our team talks with the public works staff. •Key goals/objectives/policies are apart of this as well. •Coordinated with the recent Long-range Transportation Plan done by the MPO Page 122 of 188 Implementation •Implementation, after the goals/objectives/polices are placed in individual sections, becomes a very basic implementation strategy. Page 123 of 188 Zoning Regulations •The Zoning and Subdivision Regulations will be reviewed and amended based on the new comprehensive plan. •Keys to this process includes: o Evaluation of existing regulations o Concept development based on comprehensive plan o Format for amendment language o Draft amendments o Final amendments ready for public hearing and adoption Page 124 of 188 Demograpahic Findings Page 125 of 188 Figure 1: Grand Island and Comparison Geographies Page 126 of 188 Figure 3.1: Population Trends for Region 1970-2021 Source: U.S. Census Bureau 1980 -2021. Source: U.S. Census Bureau 1970 -2021.Page 127 of 188 Figure 3.2: Population Trends for Grand Island, Hall County and Unincorporated Areas 1980-2020 Source: U.S. Census Bureau 1980 -2020. 47,690 48,925 53,534 58,607 62,895 33,180 39,386 42,940 48,520 53,131 11,142 6,374 7,185 6,506 6,314 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 1980 1990 2000 2010 2020 Hall County Grand Island Unincorporated Page 128 of 188 Figure 3.3: Median Age, Grand Island and the Tri-Cities, 2011-2021 Source: American Community Survey 2007-2011 through 2017-2021. Page 129 of 188 Figure 3.4: Population Pyramid, Grand Island, 2021 Source: American Community Survey 2017-2021. Page 130 of 188 Table 3.2: Race and Ethnicity 2011-2021 Page 131 of 188 Figure 3.8: Grand Island Population Components of Change 2011-2021 Source: U.S. Census Bureau 2010-20201; Nebraska Dept. of Health and Human Services Page 132 of 188 Grand Island Trend Line Analysis Page 133 of 188 Figure 3.10: Population and Projections for Grand Island Page 134 of 188 Table 4.1: Grand Island Households 2011-2021 Page 135 of 188 Figure 4.5: Age of Existing Housing Stock Page 136 of 188 Figure 4.13: Median Value Owner-Occupied Units 2000-2020 Figure 4.14: Median Gross Rent 2000-2020 Source: U.S. Census Bureau 2000, American Community Survey 2006-2010 & 2016-2020.Source: U.S. Census Bureau 2000, American Community Survey 2006-2010 & 2016-2020. Page 137 of 188 Figure 5.1: Grand Island Household Income 1999 to 2019 Source: U.S. Census Bureau 2000, American Community Survey 2006-2010 & 2016-2020. Page 138 of 188 Figure 5.2: Hall County Per Capita Income Source: BEA Regional Economic Accounts, 1981 -2021 Page 139 of 188 Population Density and Resident Wages by Quartile, Grand Island Area Page 140 of 188 Figure 5.3: Income by Educational Attainment Source: Leland Consulting Group Page 141 of 188 Higher Educational Attainment Trends Since 2010, Hall County 25.1 30.0 16.3 21.7 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Percent of adults (25+) holding degrees by type Associates + Bachelors + Source: U.S. Census, ACS surveys Page 142 of 188 Average Labor Force and Employment, Hall County, 2000 to 2022 32,149 31,451 25000 26000 27000 28000 29000 30000 31000 32000 33000 34000 35000 20002001200220032004200520062007200820092010201120122013201420152016201720182019202020212022average monthly workers Labor Force Employment Page 143 of 188 Hall County Job Growth by Industry Group 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 Hall County Job Growth by Industry Group Manufacturing Health Care Hospitality & Leisure Business & Professional Svcs Wholesale, Transport, Warehousing Education Other Services Construction & Utilities Government Agriculture, Mining Source: LEHD/On the Map, based on 2019 estimates (latest available) Page 144 of 188 Figure 5.4: Hall County Households with Low (Subprime) Credit Source: Leland Consulting Group Page 145 of 188 Figure 5.5: Net Taxable Sales, 2010-2022 Source: Nebraska Dept. of Revenue, Non-Motor Vehicle Sales Tax Collections $458,282,447 $959,014,142 $1,294,706,347 Page 146 of 188 Table 5.1: Labor Force, 2012-2022 Annual Average Table 5.2: Unemployment Rates 2012-2022 Page 147 of 188 Grand Island and Hall County Employment by Industry Group, 2019 295 1,142 1,795 2,579 2,850 2,810 3,215 3,498 4,084 7,365 47 1,107 1,377 2,449 2,451 2,530 3,000 3,261 4,004 6,299 0 2000 4000 6000 8000 Agriculture, Mining Government Construction & Utilities Other Services Wholesale, Transport, Warehousing Education Business & Prof Svcs Hospitality & Leisure Health Care Manufacturing Grand Island Hall County Page 148 of 188 Figure 5.7: Grand Island Residents’ Employment by Industry 2011-2021 Source: American Community Survey 2007-2011 & 2017-2021. Page 149 of 188 Figure 5.8: Grand Island Travel Time to Work 2021 Source: American Community Survey 2017-2021. Page 150 of 188 Figure 5.9: Grand Island Commuting Patterns Figure 5.10: Mean Commute Time (minutes) Source: Leland Consulting Group Source: Leland Consulting Group Page 151 of 188 Figure 5.11: Workers by Industry Group, 2019 Source: Leland Consulting Group Grand Island health care workplaces provide nearly 3,200 jobs in 2019 (prior to the opening of the new hospital), but only around 2,600 Grand Island residents work in that industry, meaning many jobs must be filled by in-commuters. Page 152 of 188 Hall County Building Permits by Type, 2000 to 2022 Source: U.S. Census Building Permit Survey Page 153 of 188 Annual Building Permit Volumes Since 2000 for Hall, Adams, and Buffalo Counties 0 50 100 150 200 250 300 350 400 450 total units permitted Adams Buffalo Hall Source: U.S. Census Building Permit Survey Page 154 of 188 Median Single-Family Home Resale Asking Prices, Hall County vs. Lancaster County $389,950 $299,900 $170,000 $180,000 $190,000 $200,000 $210,000 $220,000 $230,000 $240,000 $250,000 $260,000 $270,000 $280,000 $290,000 $300,000 $310,000 $320,000 $330,000 $340,000 $350,000 $360,000 $370,000 $380,000 $390,000 $400,000 20172017201720182018201820182018201820192019201920192019201920202020202020202020202020212021202120212021202120222022202220222022Median List Price for Home Resales Lancaster County Hall County Page 155 of 188 Recent Single-Family Home Sales, New Construction (Post-2015) by Price, Grand Island Page 156 of 188 Grand Island Multifamily Inventory, Highlighting Recent and Pipeline Projects Page 157 of 188 Average Multifamily Vacancy and Asking Rents, Hall County, 2000 to 2022 Page 158 of 188 Table 5.7: Major Leasable Property, 2023 (SF) Type Hall County Adams County Buffalo County Tri-County Total Hall County Share of Tri-County Retail 4,715,359*2,021,781*2,593,247*9,330,387*51% Multi-Family 3,155,973 1,452,456 1,767,284 6,375,713 49% Industrial 2,006,807 1,263,517 2,538,781 5,809,105 35% Hospitality 1,226,875 650,562 1,160,702 3,038,139 40% Office 961,940 375,657 995,717 2,333,314 41% Health Care 501,059 190,035 1,807,667 2,498,761 20% Flex 157,570 179,902 93,569 431,041 37% Source: CoStar and Leland Consulting Group. *square feet Page 159 of 188 Mix of Leasable (Commercial and Multifamily) Space in Grand Island and Vicinity Page 160 of 188 Existing Retail Inventory, Grand Island and Vicinity Page 161 of 188 Total Retail Pull Factor Grand Island, Hall County, and Region Page 162 of 188 Figure 5.12: Hall County Retail Vacancy and Rent Figure 5.13: Hall County Retail Inventory and Construction Source: Leland Consulting Group Source: Leland Consulting Group Page 163 of 188 Figure 5.14: Sam’s Club Trade Area, 2022 Source: Leland Consulting Group Page 164 of 188 Figure 5.15: Eagle Run Shopping Center Trade Area, 2022 Figure 5.16: Grand Corners Shopping Center Trade Area, 2022 Source: Leland Consulting Group Source: Leland Consulting Group Home Depot, Olive Garden, etc. Hy-Vee, TJ Maxx, etc. Page 165 of 188 Retail Opportunity Sites in Grand Island Source: Leland Consulting Group Page 166 of 188 Table 5.4: Basic/Non-Basic Employment By Occupation, 2021 Location Management, business, science, and arts occupations Service occupations Sales and office occupations Natural Resources, construction and maintenance occupations Production, transportation, and material moving occupations Base Multiplier Grand Island 27.5%15.9%18.6%11.7%26.4%7.2 Hastings 30.7%22.0%17.8%8.3%21.2%7.7 Kearney 34.2%17.8%26.3%6.9%14.8%12.7 Tri-Cities 30.4%17.9%20.9%9.3%21.5%10.8 Hall County 28.8%15.3%19.2%12.0%24.8%8.0 Adams County 32.6%19.7%18.6%9.0%20.1%10.4 Buffalo County 34.0%16.7%24.7%9.0%15.6%16.7 Tri-Counties 31.5%16.7%21.1%10.3%20.4%13.2 Nebraska 39.2%15.8%20.8%9.9%14.4%n/a Page 167 of 188 Industrial and Flex Inventory, Grand Island Vicinity Page 168 of 188 Hall County Industrial Vacancy and Rent Trends Hall County Industrial Inventory and Construction Trends Page 169 of 188 Hall County Industrial Inventory and Construction Trends Page 170 of 188 Employment Growth Trends in Industrial Sectors, Hall County Page 171 of 188 Figure 5.17: Hall County Office Vacancy and Rent Source: Leland Consulting Group Page 172 of 188 Figure 5.18: Hall County Office Inventory and Construction Source: Leland Consulting Group Page 173 of 188 4th Street Concepts Page 174 of 188 Page 175 of 188 Page 176 of 188 Page 177 of 188 Page 178 of 188 Page 179 of 188 Page 180 of 188 Page 181 of 188 Page 182 of 188 Page 183 of 188 Questions Page 184 of 188 Invoice Date 10/24/2023 Invoice # 1588 Bill To Hall County Regional 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 Terms Net 30 Due Date 11/23/2023 Phone # 402.367.5031 E-mail kmarvin@marvinplanning.com Total Balance Due Payments/Credits Description Qty Rate Amount See attached pdf 7,425.00 7,425.00 Out-of-state sale, exempt from sales tax 0.00% 0.00 $7,425.00 $7,425.00 $0.00 Page 185 of 188 Invoice Date 10/24/2023 Invoice # 1597 Bill To Chad Nabity Hall County Regional Planning Commission PO Box 1968 Grand Island, NE 68802 Marvin Planning Consultants, Inc 382 N. 4th Street PO Box 410 David City, NE 68632 Terms Due Date 10/24/2023 Phone # 402.367.5031 E-mail kmarvin@marvinplanning.com Total Balance Due Payments/Credits Description Qty Rate Amount Invoice #2 875.00 875.00T Out-of-state sale, exempt from sales tax 0.00% 0.00 $875.00 $875.00 $0.00 Page 186 of 188 Invoice Date 10/24/2023 Invoice # 1601 Bill To Hall County Regional 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 Terms Net 30 Due Date 11/23/2023 Phone # 402.367.5031 E-mail kmarvin@marvinplanning.com Total Balance Due Payments/Credits Description Qty Rate Amount See Attached 1,325.00 1,325.00 Doniphan Comp Plan No tax 0.00% 0.00 $1,325.00 $1,325.00 $0.00 Page 187 of 188 AGENDA MEMO To: Hall County Regional Planning Commission Agenda: Hall County Regional Planning Commission November 1, 2023 Date: November 1, 2023 Item #: 6.b. Subject: Election of Officers for 2024. Members of the commission will select a Chairperson, Vice Chair Person and Secretary. Staff Contact: BACKGROUND: Annual election of officers RECOMMENDATION: SAMPLE MOTION: ATTACHMENTS: None Page 188 of 188