02/11/2025 Resolutions 2025-40 RESOLUTION #2025-40
RESOLUTION REGARDING APPROVAL OF AN EXEDITED REVIEW OF A
REDEVELOPMENT PLAN IN CRA AREA 1 LOCATED AT 716 & 718 ST. PAUL ROAD.
WHEREAS, the City of Grand Island, Nebraska, (the "City") created the Community
Redevelopment Authority of the city of Grand Island,Nebraska, (the "Authority")pursuant to the
Act with powers to implement redevelopment plans approved by the Grand Island City Council;
and
WHEREAS, the City has designated portions of the City as substandard and blighted
pursuant to the Nebraska Community Development Law,NEB. REV. STAT. §§ 18-2101 through
18-2157 (the "Act"); and
WHEREAS, the Act, in NEB. REV. STAT. §§ 18-2155, allows cities in counties with
populations less than 100,000 to expedite reviews of certain redevelopment plans. The City is
located in Hall County,Nebraska,which has a population of 62,895 according to the 2020 Census
Data; and
WHEREAS, the City Council approved resolution, 2023-308 on November 21, 2023
allowing the use of expedited reviews of redevelopment plans pursuant to the NEB. REV. STAT.
§§ 18-2155 of the Act, guaranteeing expedited approval of applications which met the criteria set
forth in the Act. Specifically:
• The redevelopment plan is limited to one project;
• The redevelopment project is located within a substandard and blighted area;
• The redevelopment project involves a vacant platted lot that has been within the
corporate limits of the city for at least sixty years;
• The assessed value of the property within the redevelopment project area when the
project is complete is estimated to be no more than: One million five hundred thousand
dollars for a redevelopment project involving a commercial structure
WHEREAS, the City Council approved an annual limit of twenty (20) expedited reviews
of redevelopment plans pursuant to the NEB. REV. STAT. §§ 18-2155 of the Act; and
WHEREAS, Council resolution 2023-308 granted the City Administrator the authority to
delegate the review of expedited redevelopment plans and the City Administrator subsequently
designated Chad Nabity and Rashad Moxey from the Community Development Department as
such reviewer; and
WHEREAS, Chad Nabity reviewed the application and approved it on January 23, 2025,
and
WHEREAS,Chad Olson(Olson Furniture Outlet LLC)located at 716&718 St.Paul Road,
Grand Island, NE submitted an application on the stated approved form from the Nebraska
Department of Economic Development pursuant to the NEB. REV. STAT. §§ 18-2155 of the Act;
and
WHEREAS,the application submitted by Chad Olson(Olson Furniture Outlet LLC)serves
as the second of twenty (Annual limit) expedited reviews of redevelopment plans set forth by the
City Council pursuant to the NEB. REV. STAT. §§ 18-2155 of the Act; and
WHEREAS,the redevelopment plan is for one project located at 716 & 718 St. Paul Road
in CRA Area #1, records indicate that the property was subdivided in 1881 as an addition to the
City of Grand Island; and
WHEREAS, based on the Assessor's information the estimated value of the vacant
property is $26,136 and an estimated value after completion of$950,000; and
WHEREAS, the applicant requested $235,800 in Tax Increment Financing for the
proposed project located at 716 & 718 St. Paul Road in CRA Area#1; and
WHEREAS,staff have reviewed the application and recommends the approval of$235,800
in Tax Increment Financing for the proposed project located at 716 & 718 St. Paul Road in CRA
Area#1 based on the 2024 tax levy as presented on the Treasurers website.
NOW THEREFORE, BE IT RESOLVED,that the City Council confirms the applicant
qualifies for expedited review and approval of their redevelopment plan, accepts, and approves
their application as submitted for CRA Area 1 located at 716 & 718 St. Paul Road authorizing
$235,800 in Tax Increment Financing.
Adopted by the City Council of the City of Grand Island,Nebraska, February 11, 2025.
CITY OF GRAND ISLAND
Roger ele, Mayor
Attest:
Granere, City Clerk