The proposed Good Life District, (Woodsonia Real Estate Inc., Courtesy)
GRAND ISLAND — Grand Island City Council members heard a presentation at their Tuesday, June 11, meeting about the Good Life District Economic Development Act that was part of LB 1317.
Michael Rogers with Gilmore Bell in Omaha gave the presentation.
Woodsonia Real Estate of Elkhorn gave a presentation at the City Council’s Dec. 19, 2023, about using Good Life funds to transform a region in the area of Highway 281 and Capital Avenue. Woodsonia asked for the city’s support for its application to the Nebraska Department of Economic Development for the funds.
According to a Dec. 19 from City Administrator Laura McAloon to the City Council, the development includes “indoor and outdoor sports and recreation facilities, market rate and affordable housing projects, public infrastructure improvements, and limited commercial corridors to support the developed area.”
Kate Ellingson is marketing and public relations director for the Nebraska Department of Economic Development. She said that Woodsonia is making an estimated $550 million investment in the project, and estimated that 5,000 new jobs will be created.
Woodsonia’s application has been approved, Rogers said Tuesday night. He said that a Good Life district exists for 30 years. He said that local voters have to approve establishment of the Good Life district.
With formation of the Good Life District, the Nebraska Department of Revenue will reduce the state sales tax rate within the entire Good Life District from 5.5 percent to 2.75 percent, McAloon’s memo said.
The proposal backs the city’s support for land surrounding the Veterans Cemetery and Veterans’ Home.
There are two regions in the Good Life District. The west region goes along Highway 281 from 13th Street to Capital Avenue. The northwest region is bounded by Capital Avenue, Broadwell Avenue, and Highway 281.
In a draft letter included with McAloon’s memo, Mayor Roger Steele wrote that the “standout feature’ of the Good Life District is “the expansion of the current Veterans Sports Complex into a major state-of-the-art sports facility.” The major continued, “The facility is poised to attract regional and national events, bringing visitors, athletes, and families who will patronize local businesses and contribute to the economic development of our community.”
According to a document in the Dec. 13 City Council study session packet, a Good Life District does one thing: reduces the state’s sales tax rate from 5.5 percent to 2.75 percent.
In the Dec. 13 document, it says that the applicant must show that the cost of the new development will exceed $100 million. The project has to directly or indirectly result in the creation of at least 50 new jobs.
An email to Woodsonia Real Estate about the project was not returned.
