Actions taken by the Grand Island City Council Tuesday will pave the way for new businesses and jobs in the community.
The council approved two tax-increment financing applications and approved an LB840 request submitted by the Grand Island Area Economic Development Corp.
In August, Pump & Pantry and Bosselman Enterprises unveiled plans to build a new flagship store on South Locust and Highway 34.
The new 6,000-square-foot store will be the largest in the Pump & Pantry franchise.
The store will feature new branding and a new look, offering outdoor seating, a quick-serve food concept, 12 fueling stations, two car washes — both standard and touchless — and other services and amenities.
The location will also offer access from both Highway 34 and South Locust Street.
Chad Nabity, director for the Hall County Regional Planning Commission, said that in 2000, the City Council declared the property south of Husker Highway and west of Locust Street as blighted and substandard and approved a generalized redevelopment plan for the property. That plan authorized the use of TIF for the acquisition of property, redevelopment of the property, site preparation, and adjacent public streets.
Nabity said TIF could also be used for improvements to and expansion of existing infrastructure, including streets, water, sewer and drainage.
Bosselman Pump & Pantry applied for tax-increment financing to aid in the redevelopment of the property.
The council approved TIF for $506,184, which Bosselman will use to purchase the property. Nabity said the project will cost more than a million dollars.
He told the council that Bosselman’s total investment for the project would be more than $3 million.
The bond for this project will be for 15 years.
The second TIF project approved by the council was for the construction of a three-office building across from the new hospital south of Husker Highway and west of Prairieview Street.
Nabity told the council that the project would cost $13 million. The TIF will go for a proposed 15-year bond. Private financing will pay for the remaining $11.6 million for the office building, which will house a bank, an insurance agency and another business.
The council also heard from Dave Taylor, executive director of the Grand Island Area Economic Development Corp. It approved his request for an Economic Development Incentive Agreement with Premium Plant Services Inc.
Taylor told the council that Premium Plant Services had submitted the required LB840 application for a forgivable loan for $102,000.
Taylor said Premium Plant Services plans to create 12 full-time jobs with an average hourly wage of $21.50.
He said the $102,000 would be for job creation and would be paid over four years.
Premium Plant Services currently has 100 employees across the U.S. It is an industrial cleaning service that helps industrial plants operate at their best.
Since 1981, Premium Plant Services has provided high-quality hydroblasting service for plant process operators and managers across the Upper Midwest.
The company’s headquarters is in Hibbing, Minn. It offers industrial cleaning services, from sandblasting to vacuuming.
Its focus in Nebraska will be with providing industrial cleaning services for ethanol plants.