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06/23/2026 Resolutions 2026-176 RESOLUTION 2026-176 A RESOLUTION TO OFFER CERTAIN REAL PROPERYT KNOWN AS VETERAN'S VILLAGE FOR SALE WHEREAS, the City of Grand Island, Nebraska (the "City") is the owner of certain real property located in Hall County, Nebraska, shown in Exhibit A which will be specifically defined by survey prior to finalization of sale. This property is included in the Master Plan adopted by the Grand Island City Council on February 11, 2025 is noted as"Veteran's Village;"and WHEREAS,the property owned by the City includes approximately 225 acres of real estate and is wholly within the boundaries of the Good Life District Program Area as set forth in Grand Island City Code Chapter 38,Article II, Section 1. The property is generally bounded as follows: on the south by the BNSF Railroad line; on the north by Airport Road/Highway 281; on the East by Broadwell Ave and continues west until it abuts residential lots. The property is currently owned and controlled by the City, subject to existing easements and restrictions of record and is in part under active lease(s)with farm tenants; and WHEREAS, the City wishes to exclude from this Resolution a portion of the property, to be more specifically described later by survey and before a formal sale ordinance,the eastern portion of the property with the northwestern corner of the excluded area commencing near the northwest corner of Eagle Scout Lake continuing south from the northwest corner until the southern boundary of the current Softball complex, then east until a point near the edge of the eastern most boundary of the south parking lot, then south until the southern most border of the city's property. This general area is illustrated in Exhibit A attached hereto; and WHEREAS, the City Council has determined that it is in the best interests of the City to offer the Property for sale to Woodsonia Real Estate, Inc for use in furtherance of anticipated Good Life District development, subject to the completion of a legal survey defining the boundaries of the Property (the "Survey") and/or the preliminary platting of the current property into two distinct lots to be defined as the "sale" lot and the "retain" lot; and WHEREAS, the City Council desires to establish the key terms and conditions under which an offer to purchase the Property shall be proposed and which shall constitute key provisions of any proposed sale ordinance should the offer be accepted, to include any necessary covenants, restrictions and reversion obligations; and, WHEREAS, this offer is made by the City contingent upon formalization and approval of an Ordinance by the City Council as required by law; all proper publication; and the development and recording of referenced covenants, restrictions, and reversion obligations; and WHEREAS, the City Council makes this offer contingent upon its acceptance no later than June 30, 2026, with a sale ordinance anticipated to be presented to the City Council in July 2026 with closing to occur no later than August 31, 2026; and WHEREAS, Woodsonia Real Estate, Inc, and/or related entity Woodsonia GI GLD, LLC, ("Woodsonia") has made representations to the City that it wishes to acquire the property offered for sale to facilitate its delivery of their proposed Veteran's Village development; which includes critical project components including an indoor sports complex of at least 140,000 square feet, proposed multi-purpose all turf outdoor fields, an aquatic center, public infrastructure improvements, an expanded Eagle Scout Lake, an amphitheater, a fishing pier, and at least two miles of public trails. Woodsonia has also proposed other development to include commercial property, mixed use property, multi-family and single-family housing, and commercial improvements such as a hotel, restaurant, and retail facilities. These enhancements will be more fully defined in a separately developed Good Life District Agreement and other supplemental written agreements; but generally constitute the "Project"; and WHEREAS, the City Council desires that the Property be sold for purposes consistent with and in furtherance of the Project, all encumbrances and requirements contained therein, but to incorporate only the critical project components into this offer as creating obligations; and WHEREAS, the City Council finds it appropriate to offer this property for sale only after the imposition of protective covenants, a reversion obligation, and other conditions on any sale of the Property that sufficiently safeguard the public interest and ensure development consistent with the goals of the GLDA, the Good Life District Economic Development Program, and the City of Grand Island by and through the City Council; and, WHEREAS, the City Council notes that it is the proposal of the developer to set aside a portion of the sale parcel for transfer to the Grand Island Public Schools and, as such, Council wishes to incorporate this commitment into a reversion interest. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF GRAND ISLAND, NEBRASKA, that the City of Grand Island is hereby authorized to offer the Property for sale, subject to the following key terms and conditions: Section 1. Survey. The offer and any resulting sale shall be conditioned upon the completion of a legal survey (the "Survey") by a licensed Nebraska Professional Land Surveyor defining and establishing the legal boundaries of the Property, excluding portions to be retained by the City. The Property for sale is generally designated above and in Exhibit A attached hereto and incorporated herein by reference, but shall be supplanted by the Survey once it is complete and the property is defined, at the sole discretion of the City. Section 2. Purchase Price and Payment. The purchase price for the Property shall be Three Million Dollars ($3,000,000.00), to be paid in full by the purchaser at the time of closing. Section 3. Earnest Money Deposit. Upon acceptance of the offer by the City, the purchaser shall deposit earnest money in the amount of Five Percent (5%) of the purchase price, being One Hundred Fifty Thousand Dollars ($150,000.00), with such deposit to be made by certified check provided to the City Clerk no later than 4pm on July 30, 2026. Said earnest money shall be non-refundable and shall, but will be credited to the total purchase price upon closing as may be authorized in the final sale ordinance. Should a sale not take place, the deposited amount shall be forfeited to the City. Section 4.Acceptance Deadline. Should the offer be accepted no later than June 30, 2026 the City will: prepare a sale ordinance as required by law, commence with processing said formal sale in compliance with law, procure a legal survey of the final sale boundaries, and develop and record all covenants and reversions noted below on a form acceptable to the City and documented in the sale ordinance. The City anticipates presentation of said sale ordinance at a regular meeting of the City Council in July, 2026 with a closing to occur no later than August 31, 2026. Section 5. Protective Covenants. &Reversions. The sale of the Property will be subject to protective covenants to be developed by the City and incorporated into the sale documents and deed, which covenants shall run with the land and shall include, at minimum, the following: (a) Restriction on Manufacturing and Industrial Use. The Property shall not be zoned or used for any manufacturing or industrial uses, by the purchaser or any successor in interest for a period of at least 99 years. This prohibition shall be interpreted broadly and shall apply whether such designation or use arises by application, rezoning, conditional or special use authorization, or by any subsequent owner regardless of authorization. (b) Prohibition on Tax Exemption. The purchaser and any successor in interest to the Property shall be barred by covenant from seeking, applying for, or obtaining an exemption from real property taxes with respect to the Property or any portion thereof for a period of thirty (30) years from the date of closing; provided, however, that this restriction shall not apply to any parcel or lot owned by or transferred to: (i) the City of Grand Island; (ii) Hall County, Nebraska; (iii) the State of Nebraska; (iv) Grand Island Public Schools; or (v) the owner or operator of a public utility. (c) Good Life District Agreement. The Property shall be used in furtherance of the Good Life District Agreement ("GLDA") between the City and Woodsonia, and the purchaser and any successor in interest shall be subject to all encumbrances, obligations, and requirements contained in or arising from the GLDA. It is anticipated that this will include prioritization of revenue producing development except for portions used for single family or multi-family residential use. (d) Specific Critical Components. The Property shall be used first for the delivery of all components identified as critical project components and the recorded agreement will specifically advise successors in interest that a portion of the property is subject to reversion should the critical components not be completed as required. Section 6. Reversion Clauses. As a condition of sale, the offer and the deed conveying the Property shall include an express provision that all portions of the Property designated for Reversion in Exhibit A (to be more particularly defined by the Survey) shall automatically revert to the City of Grand Island upon the occurrence of any of the following conditions: (a) Failure to Commence Construction. The critical project components of the Project outlined in the Good Life District Agreement (GLDA) — including the indoor sports complex element, multi-purpose all turf outdoor fields, aquatic center, and public infrastructure improvements — have not commenced construction within twelve (12) months of the date of closing(site preparation, mass grading, lake expansion, and sports complex) or within thirty-six (36) months of the date of closing (aquatics center, amphitheater, fishing pier, turfed outdoor sports fields); and/or (b) Failure to Complete. The critical project components of the Project outlined in the GLDA and final sale ordinance have not been completed within seven (7) years of the date of closing. (c) Failure to Transfer. The Developer has not transferred to Grand Island Public Schools a parcel or lot of sufficient size to construct and operate an elementary or middle school (proposed to be at least 10 acres) within the earlier of; twelve (12) months of completion of site preparation and mass grading with respect to the critical project components; or, thirty-six (36) months of the date of closing. For purposes of this Section, "Commencement" will generally be demonstrated by the issuance of building permits, approval by the City Engineer of public infrastructure plans and the commencement of construction, or other competent evidence of commencement issued by the City or other regulatory agency. "Completion" will generally be defined as acceptance of public improvements by the City, obtaining an occupancy permit for any buildings, or certification by the City that the project component has been substantially completed. The reversion right established herein shall be set forth in the deed of conveyance and shall constitute a condition subsequent running with the land. In the event of reversion, title to the Property shall vest in the City of Grand Island without the necessity of re-entry or additional legal proceedings. Section 7. Other Terms. (a) Access for relocation. The sale will be conditioned upon permitting the City continued access to the property as they may be needed to relocate any utility, fiber optic cable, or other encumbrances from the sale parcel. (b) Tenant rights. Woodsonia will be required to permit the current farm tenant unincumbered access to the property until such time the current lease expires and all crops have been removed from the property. (c) Public access and Developer access. The sale will acknowledge that the City may need to temporarily use, at no cost, Developer property for the relocation of existing sports facilities during construction of the Project and will acknowledge that the Developer will need to temporarily use, at no cost, City property for the construction of infrastructure intended to be public and to ensure proper site preparation. (d) Easement & Right-of-Way. The sale will be contingent upon the Developer agreeing to provide to the City, at no additional cost, liability, or expense, all property which may be required for temporary or permanent easement or right-of way related to public improvements and utilities (streets, sewers, storm sewers, electric or water utilities, or other utilities). (e) Reservation for Aquatic Center.The City Council will acknowledge that a separate conveyance or access may be required to facilitate transfer of land retained by the City for purpose of construction of an aquatic center should placement on Developer land be declined by the Developer. Section 8. Formalization by Ordinance. The foregoing terms and conditions are intended as key terms for an offer to purchase the Property. The sale of the Property shall be formalized by ordinance of the City Council, which ordinance shall incorporate the terms set forth herein and such additional terms and conditions as the City Council may deem appropriate. No sale of the Property shall be final or binding upon the City until such ordinance has been duly adopted by the City Council of the City of Grand Island, Nebraska. Section 9. Authorization. The Mayor or City Clerk are hereby authorized to sign this resolution and to present the offer contained herein to Woodsonia and to formally receive any acceptance and deposit of earnest money. Should the offer be accepted the Mayor and City Administrator are authorized and directed to take such steps as are necessary or appropriate to implement this Resolution, including but not limited to causing the Survey to be completed, signing any preliminary platting of land into lots they may deem necessary, and presenting a sale ordinance to the City Council for consideration at a meeting in July 2026. Adopted by the City Council of the City of Grand Island, Nebraska,` 3 , 2026. /\1974-))61 -"-') Roger G. Steele, Mayor Attest: ',L• G rLG.-C Jill Granere, City Clerk EXHIBIT A Grey.Sale Blue=Sale with Reversion Pink=Retain