04/23/2024 Resolutions 2024-113 RESOLUTION 2024-113
WHEREAS, the City of Grand Island Economic Development Program is
authorized by Chapter 38 of the Grand Island City Code,the State by and through the Local Option
Municipal Economic Development Act(Neb. Rev Stat § 18-2701 et seq) and the electorate of the
City upon their approval of the City's Economic Development Plan (the "Plan") during the 2022
election as codified in Ordinance No. 9908; and
WHEREAS,an application was filed by Build Grand Island,LLC,a single member
entity formed by the Grand Island Area Economic Development Corporation, requesting
$314,242.00 from the City of Grand Island's Economic Development funds as cash match to
$1,256,715.00 awarded through the Nebraska Department of Economic Development's Rural
Workforce Housing Fund(RWHF); and
WHEREAS, the RWHF grant program provides competitive matching grants to
non-profit development organizations who administer workforce housing investment funds and
are invested in eligible projects to increase the supply and reduce the costs of workforce housing
in Nebraska's rural communities, including the City of Grand Island; and
WHEREAS, the Rural Workforce Housing Investment Act,Neb. Rev. Stat.§§ 81-
1226 to 81-1234(the"Act")defines workforce housing as housing that meets the needs of working
families and is attractive to new residents locating in Grand Island; and
WHEREAS, housing projects eligible for RWHF grants include:
New owner-occupied housing costing no more than$325,000.
New rental housing units costing no more than $250,000.
Owner-occupied or rental housing units for which the cost to substantially
rehabilitate exceeds 50% of a unit's assessed value.
Upper-story housing.
Rehabilitation/conversion of an existing building into housing;
provided such housing does not receive certain federal or state low income housing tax credits,
community development block grants, HOME funds,National Housing Trust Fund, or funds from
the Affordable Housing Trust Fund that would restrict the level of individual or household income
to anything less than 100% of AMI; and
WHEREAS,the Plan authorizes the use of Economic Development funds for grants
or loans for the construction or rehabilitation for sale or lease of housing as part of a workforce
housing plan of the City; and
WHEREAS, the Plan states that the City's "Workforce Housing Plan" means a
program to construct or rehabilitate single-family housing or market rate multi-family housing,
which is designed to address a housing shortage that impairs the ability of the City to attract new
businesses, or impairs the ability of existing businesses to recruit new employees; and
WHEREAS, the City Council finds that the use of Plan funds for the purposes set
forth in the Act and the RWHF is consistent with the Plan; and
WHEREAS,the Plan Administrator recommends approval of the grant application
and use of Plan funds as matching funds subject to the terms and conditions of the RWHF grant
and the Act.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL
OF THE CITY OF GRAND ISLAND, NEBRASKA, that the City of Grand Island hereby
approves the award of an Economic Development Plan grant in the amount of$314,242.00 to the
Grand Island Area Economic Development Corporation and Build Grand Island LLC for use as
local matching funds for RWHF Grant No. 22-RWHF-030 in the amount of$1,256,715.00 and for
the purposes set forth in the Act.
BE IT FURTHER RESOLVED, that the Economic Development Plan
Administrator Laura McAloon and the City Finance Director are hereby authorized to take all
actions and execute all documents necessary to carry out the intent of this resolution.
Adopted by the City Council of the City of Grand Island,Nebraska, April 23, 2024.
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Ro . Steele, Mayor
Attest:
Ji Granere, City Clerk
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