MEMORANDUM

July 30, 2024 

To: Parties Interested in Using Good Life District Funding for Development 

From: Chad Nabity, AICP Community Development Director 

RE: Deliverables and Timelines of the City of Grand Island for the Good Life District 

The City of Grand Island is excited that a Good Life District has been established in Grand Island and we look forward to each opportunity that supports our quality of life. Each of us knows that Grand Island's future is bright and the leaders who add to the vision for our community are appreciated. Development in the Good Life District is more than simply developing land, it is building out a community, honoring our past and creating our best future. 

To help focus all invested parties of the Good Life District, and in order to be diligent stewards of the State's investment through its reduced sales tax rate within the Good Life District, an identification of the deliverables necessary for the City to take action on any request is prudent. Additionally, to establish an up-front understanding and recognition of time necessary to process any request by the City, timelines must be identified. 

The following processes have been established and are in effect until such time as the City Council considers approval of a GLD Economic Development Program Ordinance. 

Any development seeking incentives in the Good Life District shall submit a package of deliverables to the City which meets the following minimum submittal standards as a "GLD Development Proposal".  

1. Project Proposal which shall include:

1. Executive summary and description of the project. 
2. The total cost of the project and number of acres. 
3. Draft Site Plan listing of retail, hospitality, athletic, and residential spaces. 
4. Developer governance documents or corporate structure chart showing equity ownership for the project and developer (if separate entities). 
5. Development timetable and phases for the project which shall include square footage and construction commencement and completion dates. 
6. Estimated number of new jobs created within the project. 
7. Estimated number of new housing units created within the project along with a proposed schedule for development. 
8. Projected sales including the percentage of sales to out-of-state residents and number of out of state visitors expected within the project. 
9. Developer capital stack for the project prepared by attorney or financing professional, including documentation of commitments for financing of the project. 
10. Documentation of land acquisition or executed contracts supporting acquisition for the project. 
11. Executed purchase/sale agreements/leases/memorandum of understanding from businesses described in the Site Plan. 
12. Pro forma for any hospitality, leisure, or athletic-related businesses described in the Site Plan.

2. A Developer "gap" analysis detailing the necessity for the City to provide incentives for the proposed project. (Commonly referred to as the "but for" test. The project would not be built but for having the incentive package to provide market returns for the developer).

3. The incentive request for the project (sales and use tax %, occupation tax %, and/or TIF pledge).

4. Draft of a proposed Redevelopment Plan and Redevelopment Agreement pursuant to the Nebraska Community Development Law, if tax increment financing is requested. Plan and agreement shall lay out all expected component pieces. A Cost-Benefit Study is also required. (Note the formal requests will not occur until the appropriate point in the timelines listed below; drafts are required at this point for the City to evaluate and determine other requirements or deliverables). 

Formal action on the plan will begin after staff determines that a complete application has been received. The Mayor and City Council will have the opportunity to consider a specific GLD Development Proposal prior to proceeding with the GLD Development Proposal process and negotiations. 

Related Item Timelines. The City is bound by specific required timelines when action is requested regarding items that are likely to be part of a GLD application including blight designations and/or requests to use Tax Increment Financing. The estimated action timelines for anticipated requests are outlined below.  

NOTE: these are in the order of action by the City and its Regional Planning Commission or Grand Island Community Redevelopment Authority may schedule additional meetings to adjust timelines outlined below, subject to substantial reason/justification provided with the request. 

• Substandard and Blight/Extremely Blighted Study 

• Evaluation of Study provided by the Developer or their consultant by City staff and referral by staff to a City Council meeting on the second Tuesday of the month: Study must be received 30 days prior to the council meeting. 

• City Council considers referral of the study to the Regional Planning Commission on second Tuesday meeting. 

• Planning Commission public hearing: 1^st Wednesday of the following month 

• City Council public hearing for Planning Commission items: 4^th Tuesday of the same month 

• Effective approximately 90-days after submittal of request 

• Redevelopment Plan and Cost-Benefit Study and Redevelopment Contract 

• Evaluation of request by City: 45-days from submittal of request cannot be acted on until an area has been declared blighted and substandard 

• Community Redevelopment Authority considers plan and referring to Regional Planning Commission submittal deadline: 2^nd Wednesday of each month 

• Planning Commission public hearing: 1^st Wednesday of the following month 

• Community Development Authority referral to City Council: 2^nd Wednesday of each month following the Planning Commission hearing and recommendation.  

• City Council public hearing: 4^th Tuesday of the month following referral of plan and planning commission recommendation from CRA. 

• Community Redevelopment Authority considers contract and bond resolution: 2^nd Wednesday of each month 

• Effective approximately 90-days after submittal of request 

In the event that annexation is needed to accommodate a GLD project planning department Staff will work with the developer to create a schedule for annexation that can likely be contemporaneously with other aspects of the project. 

This is an historic, once-in-a-lifetime opportunity and the City is anxiously awaiting receipt of GLD Development Proposals for review.