City of Lexington, (Brian Neben, Central Nebraska Today)
LEXINGTON — A four story, 80 room hotel redevelopment project will be considered by the Lexington Planning Commission during their meeting this evening, March 6.
Lexington HIE, LLC, registered with Conner Works of Lincoln, per the Nebraska Secretary of State, is seeking tax increment financing (TIF) for the project.
The property in question is located just north of the Heartland Museum of Military Vehicles, along Heartland Drive.
Construction is anticipated to take around 16-18 months and is anticipated to start in the summer or fall of 2024, with completion by the first quarter of 2026, per the redevelopment plan.
The project should cost around $13,500,000 and Lexington HIE is seeking $1,650,000 in TIF from the City of Lexington.
Per the redevelopment plan, the project should create seven to ten full-time jobs and nine to 12 part time jobs.
The city’s summary of finding states that the project will increase the city’s tax base, increase property tax revenue, facilitate development in a blighted area and that the benefits outweigh the costs of the project.
The Planning Commission will consider sending the redevelopment plan to the city council with their approval, rejection, or no comment.
