Gordon Community Development Agency Minutes April 14, 2016

Notice of the meeting was given to advance by publication in the Sheridan County Journal Star, the designated method for giving notice as shown by the affidavit of publication on file in the City Clerk’s office.  Agendas of the meeting were simultaneously given to the Chairman and all members of the Community Development Agency.  All proceedings hereafter shown were taken while the convened meeting was open to the attendance of the public.

A meeting of the Community Development Agency of the City of Gordon was called to order at 7:10 p.m., April 14, 2016 in the Council Chambers of the City Auditorium.  The Vice-Chairman noted the location of the Open Meetings Laws poster in the back of the room.

Present: Bounous, Evans, Morgan, and Grant.

Absent:  Russell.

Motion by Bounous, seconded by Evans to approve Resolution 2016-CDA1. Ayes: Evans, Morgan, Grant, and Bounous.

COMMUNITY DEVELOPMENT AGENCY 

RESOLUTION NO. 2016-CDA1

Resolution Recommending Approval of a Redevelopment Plan of the City of Gordon, Nebraska; Approval of a Redevelopment Project of the City of Gordon, Nebraska; and Approval of Related Actions

BE IT RESOLVED BY THE COMMUNITY DEVELOPMENT AGENCY OF THE CITY OF GORDON, NEBRASKA:

Recitals:

a. The Mayor and Council of the City of Gordon, Nebraska (the “City”), upon the recommendation of the City Planning Commission (the “Planning Commission”), and in compliance with all public notice requirements imposed by the Community Development Law, Chapter 18, Article 21, Reissue Revised Statutes of Nebraska, as amended (the “Act”), has previously declared an area, including an area legally described on the attached Exhibit A (the “Redevelopment Area”), to be blighted and substandard and in need of redevelopment; and

a. Pursuant to and in furtherance of the Act, a Redevelopment Plan (the “Redevelopment Plan”), has been prepared and submitted by the Agency, in the form of the attached Exhibit B, for the purpose of redeveloping the Redevelopment Area; and

a. Pursuant to the Redevelopment Plan, the Agency would agree to incur indebtedness and make a grant for the project specified in the Redevelopment Plan (the “Project”), in accordance with and as permitted by the Act; and

a. Pursuant to Section 18-2113 of the Act, the Agency has conducted a cost benefit analysis of the Project (the “Cost Benefit Analysis”), which is attached hereto as Exhibit C; and 

a. The Agency has made certain findings and has determined that it is in the best interests of the Agency and the City to approve the Redevelopment Plan, approve the Redevelopment Project, and approve the transactions contemplated by the Redevelopment Plan.

Resolved that:

1. The Agency determines that the proposed land uses and building requirements in the Redevelopment Plan for the Redevelopment Area are designed with the general purposes of accomplishing, and in conformance with the general plan of the City, a coordinated, adjusted, and harmonious development of the City and its environs which will, in accordance with present and future needs, promote health, safety, morals, order, convenience, prosperity, and the general welfare, as well as efficiency in economy in the process of development; including, among other things, adequate provision for traffic, vehicular parking, the promotion of safety from fire, panic, and other dangers, adequate provisions for light and air, the promotion of the healthful and convenient distribution of population, the provision of adequate transportation, water, sewerage, and other public utilities, schools, parks, recreational and community facilities, and other public requirements, the promotion of sound design and arrangement, the wise and efficient expenditure of public funds, and the prevention of the recurrence of unsanitary or unsafe dwelling accommodations or conditions of blight.

1. In accordance with the Act, the Agency has conducted a Cost Benefit Analysis for the Project, which is incorporated into the Redevelopment Plan, and finds that the Project would not be economically feasible without the use of tax increment financing, the Project would not occur in the Redevelopment Area without the use of tax increment financing and the costs and benefits of the Project, including costs and benefits to other affected political subdivisions, the economy of the community, and the demand for public and private services, have been analyzed and have been found to be in the long term best interests of the community impacted by the Project.

1. In compliance with section 18-2114 of the Act, the Agency finds and determines as follows:  a) the Redevelopment Area constituting the Redevelopment Project will not be acquired by the Agency and the Agency shall receive no proceeds from disposal to the Redeveloper; (b) the Redeveloper has acquired the Redevelopment Area; (c) the estimated cost of preparing the project site as described in the Redevelopment Plan and related costs exceed $3,800,000 (d) the method of acquisition of the real estate was by private contract by the Redeveloper and not by condemnation; (e)  the method of financing the Redevelopment Project shall be by issuance of tax increment revenue bond issued in the amount of $250,000, and from additional funds provided by the Redeveloper and its lender; and (f) no families or businesses will be displaced as a result of the project.

1. The Agency has conducted a cost benefit analysis (the “Analysis”) as required by §18-2113 of the Act that is a part of the Redevelopment Plan and said Analysis is hereby approved.

1. The Agency recommends approval of the Redevelopment Plan, the Redevelopment Project, and the transactions contemplated in the Redevelopment Plan.

1. All prior resolutions of the Agency in conflict with the terms and provisions of this resolution are repealed to the extent of such conflicts.

1. This Resolution shall become effective immediately upon its adoption.

 PASSED AND APPROVED on April 14, 2016.

COMMUNITY DEVELOPMENT AGENCY OF THE CITY OF GORDON, NEBRASKA

ATTEST:

/s/ Jane Morgan

Vice-Chair

/s/ Kim Buchan

Secretary

Motion by Morgan, seconded by Bounous to go into recess at 7:15 pm. Ayes: Motion, Grant, Bounous, and Evans.

The Community Development Agency reconvened at 7:45 pm. Mike Bacon presented information to the agency regarding the TIF bond. After some discussion, motion by Evans, seconded by Bounous to approve Resolution 2016-CDA2. Ayes: Evans, Morgan, Grant, and Bounous.

RESOLUTION NO. 2016-CDA2

A RESOLUTION ADOPTED BY THE COMMUNITY DEVELOPMENT AGENCY OF THE CITY OF GORDON, NEBRASKA; AUTHORIZING AND PROVIDING FOR THE ISSUANCE OF A TAX INCREMENT REVENUE BOND, NOTE OR OTHER OBLIGATION; PROVIDING FOR THE TERMS AND PROVISIONS OF SAID BOND, NOTE OR OTHER OBLIGATION; PLEDGING CERTAIN REVENUES OF THE AGENCY PURSUANT TO THE COMMUNITY DEVELOPMENT LAW; AUTHORIZING THE SALE OF SAID BOND, NOTE OR OTHER OBLIGATION; PROVIDING FOR A GRANT OF THE PROCEEDS OF SAID BOND, NOTE OR OTHER OBLIGATION; PROVIDING FOR THE TERMS AND THE SALE OF THE BOND, NOTE OR OTHER OBLIGATION; PROVIDING FOR PREPAYMENT OF SAID BOND, NOTE OR OTHER OBLIGATION; PAYING THE COSTS OF ISSUANCE THEREOF; PRESCRIBING THE FORM AND CERTAIN DETAILS OF THE BOND, NOTE OR OTHER OBLIGATION; PLEDGING CERTAIN TAX REVENUE AND OTHER REVENUE TO THE PAYMENT OF THE PRINCIPAL  AND INTEREST ON THE BOND, NOTE OR OTHER OBLIGATION AS THE SAME BECOME DUE; LIMITING PAYMENT OF THE BOND, NOTE OR OTHER OBLIGATION TO SUCH TAX REVENUES; CREATING AND ESTABLISHING FUNDS AND ACCOUNTS; DELEGATING, AUTHORIZING AND DIRECTING THE TREASURER OF THE AGENCY TO EXERCISE THEIR INDEPENDENT DISCRETION AND JUDGMENT IN DETERMINING AND FINALIZING CERTAIN TERMS AND PROVISIONS OF THE BOND, NOTE OR OTHER OBLIGATION NOT SPECIFIED HEREIN; APPROVING THE REDEVELOPMENT CONTRACT; TAKING OTHER ACTIONS AND MAKING OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE FOREGOING; PROVIDING FOR THIS RESOLUTION TO TAKE EFFECT; AND RELATED MATTERS

A complete copy of Resolution 2016-CDA2 is available at the office of the City Clerk, 311 N Oak Street.

With no further business, motion by Bounous, seconded by Grant to adjourn the Community Development Agency meeting at 7:55 pm. Ayes: Morgan, Grant, Bounous, and Evans.

/s/ Kim Buchan

City Clerk

/s/ Nancy I Russell

Mayor

I, the undersigned, City Clerk for the City of Gordon, Nebraska hereby certify that the foregoing is a true and correct copy of the proceedings had and done by the Community Development Agency on April 14, 2016; that all of the subjects included in the foregoing proceedings were contained in the agenda for the meeting, kept continuously current and available for inspection at the office of the City Clerk;  that such subjects were contained in said minutes of the Community Develoment Agency of the City of Gordon from which the foregoing proceedings have been extracted were in written form and available for public inspection within ten working days and prior to the next convened meeting of said body; that all news media requesting notification of the time and place of said meeting and the subjects to be discussed at said meeting.

/s/ Kim Buchan

City Clerk

Published: April 20, 2016