The Kearney City Council met on September 26, 2023, at 5:30 p.m. in City Council Chambers. The meeting covered routine business, a consent agenda, and three regular agenda items: a tax increment financing (TIF) request for a new office building, a staff update on the Sanitation Department (which received the Nebraska Recycling Council Green Team of the Year Award), and an open account claim to Nebraska Public Power District (NPPD). All consent agenda items were approved unanimously, and the regular agenda items were acted upon with one abstention on the NPPD claim.
Tax Increment Financing for Kearney Partnership (220 11th Avenue):
Sanitation Department Update and Green Team Award:
Open Account Claim to NPPD:
Well good evening, everyone. Welcome to our city council meeting for September the 26th. If you'll rise, we'll have a moment of silence followed by the pledge of unions. Thank you. And join the pledge of wages. I pledge to the flag of the United States of America. And to the Republic for which it stands one nation under God, indivisible with liberty and justice for all. In accordance with section 84 1412 of the Nebraska Revised Statute is a current copy of the open meetings act as available for you. Bush Cutter. Present Nicola Moore. Okay, thank you. We have no oral communication, no one finished business and no public hearings. We'll jump right in the consent agenda items one through eleven. Any item on the consent agenda made by the request of a council member be removed and considered for consideration. We have any items need to be removed. Okay, we have a motion. Um I move to approve items one through eleven of the consent agenda. Second. Roll call, please. Mayor Claus. Hi, Bush Cutter. All right. Okay, we have no consent agenda ordinances. Uh so we'll move to regular agenda item one. That's to consider redevelopment uh project submitted by Carney Partnership for property located at 220 11th Avenue. Yeah. This year. You guys got there quick. Yeah. Good afternoon, Kayla James, Director of Finance. Carney Partnership is considering the construction of a 12,400 square foot single level office building. The building structure will consist of exposed wood, glue loom framing, pre-engineered wood trusses, supplemental steel and wood framing, and concrete. Exterior finishes will include brick veneer, fiber cement siding, metal, wall panels, and an aluminum storefront. The building will be located at 220 11th Avenue. The current owner of the land is Towmage Jam LLC, but they are in the process of selling it to Kearney Partnership. The total new valuation of the property upon completion is estimated to be at 1,950,665. And the current valuation of the property is 28,725. The incremental valuation is estimated to be 1 million 921,940. The annual increment in real estate taxes upon the completion of the project is estimated to be $35,776. On September 13, 2023, the CRA moved that the project be granted 100% of the annual increment in real estate taxes not to exceed the certified eligible project costs over a period of not to exceed 15 years beginning with tax year 2023. The CRA approved estimated project costs totaling 934,600. After the redeveloper in the city have received the total of the certified eligible project costs, the political subdivisions will receive 100% of the taxes generated from the valuation increment. Staff recommends that the city council approve the project be granted 100% of the annual increment in real estate taxes not to exceed the certified eligible project costs over a period not to exceed 15 years beginning with tax year 2023. Thank you. Any questions? Comments? No, that's I have a question. I know we don't normally have questions on this, but I do. And this doesn't really matter because it's to their detriment. But how would the value only be?