Mitch Hohlen, Director of Development and a Partner with Woodsonia Real Estate, and Woodsonia President Drew Snyder gave a presentation at the Nov. 12 Grand Island City Council meeting about a proposed plan for the Veteran's Village Good Life District project. (Carol Bryant, Central Nebraska Today)
GRAND ISLAND – Grand Island residents will have what may potentially be their last chance to comment on the Veteran’s Village Good Life District project at the Grand Island City Council meeting at 7 p.m. Dec. 9.
The City Council is slated to take action on two items listed on the agenda. People who want to speak about any agenda items may sign up at City Hall just prior to the meeting.
The first item is a resolution to accept Good Life District application materials from Woodsonia Real Estate of Elkhorn.
The second item is a resolution to authorize city staff to move forward with negotiating a development contract subject to the amended Good Life District application submitted by Woodsonia Real Estate.
The City Council had a 3.5 hour meeting Nov. 12 where Woodsonia Real Estate staff gave a presentation about an executive summary of their plan to develop the Veteran’s Village project.
At the conclusion of the Nov. 12 meeting, Mayor Roger Steele asked Woodsonia Real Estate to come back to the Dec. 9 meeting with the “best and final proposal.” The City Council’s main concern was the plan for an Aquatics Center.
Woodsonia Real Estate’s plan for a $15 million Aquatics Center included much less than what City Council members want to see as components of the Aquatics Center. Woodsonia’s plan included a three-lane pool, but City Council member Chuck Haase said an eight- to 10-lane pool was needed. He also suggested budgeting $30 million for the Aquatics Center.
Woodsonia’s 550-page revised application for the Veteran’s Village project was revealed for the Nov. 12 meeting. The proposed development is located north of the Burlington Railroad tracks, south of Airport Road/U.S. Highway 281, and between Broadwell Avenue and Webb Road. It does not include the former Nebraska Veterans Home site.
City Council President Jack Sheard questioned at the Nov. 12 meeting whether Woodsonia needed as much Good Life District funding for housing development as what it proposed. He said that housing developments are being constructed in Grand Island without Good Life District funding. Woodsonia’s plan includes $26 million in Good Life District funding for housing.
Another concern expressed at the Nov. 12 meeting was that the Woodsonia proposal did not include any plans for dedicated pickleball courts. The revised proposal does not appear to include dedicated pickleball courts.
Regional Planning Director Chad Nabity wrote a memo to the City Council included in the Dec. 9 meeting packet. Nabity said that Woodsonia had consulted with City Council member Ryan O’Neill about the Aquatics Center and made changes to the proposal based on those conversations.
Nabity wrote that city staff and representatives from DA Davidson, Gilmore and Bell, and Janey have met with Woodsonia numerous times since the Nov. 12 meeting and believe that the proposed funding with the issuance of two bonds for the project will likely generate the funds required in the application.
In another memo to the City Council, Nabity wrote that if City Council approves moving forward with negotiating a development contract for the project, city staff would “bring forward the various components of the project bond funding, subdivision and rezoning, a redevelopment plan for Tax Increment Financing (TIF), authorization to transfer the property, and any other necessary components in accordance with the application.” City staff could potentially bring forward an ordinance for EEA funding or an occupation tax.
In the resolution for city staff to negotiate with Woodsonia, the City Council wants to see that “the proposed Sports Complex meets the criteria for a transformational project and the application shows priority funding for this” and that “an Aquatic Center that will meet the needs of the citizens of Grand Island is also proposed to receive priority funding in this application.”
Woodsonia submitted a document titled “Proposed Terms” for the Dec. 9 meeting. It lists components that will be included in the three phases of the project.
For the first phase, the document states that there will be a 95,000-square-foot indoor Sports Complex with 16 volleyball courts and eight basketball courts. Components of the outdoor Sports Complex are artificial turf multi-sport fields, including full-size baseball, softball, soccer, football, lacrosse, and field training facilities. Woodsonia and the city will issue a request for proposals for professional management of the Sports Complex.
There will be a 30,000-square-foot Aquatics Center with a 10-lane, 25-yard competitive pool. Also, the Aquatics Center will include a diving well to accommodate two diving boards, seating capacity for a minimum of 400 attendees, a “warm water” therapy pool with zero entry, and a jacuzzi.
The first phase will also include development of 250 multi-family homes, 20 single family units, one restaurant, one hotel, and one event venue space for special events.
In Phase 2 of the project (2030-2035), the plan includes $20 million in mixed-use development, at least 20 single family units, and at least 250 multi-family units.
In Phase 3 of the project (2036-2055), the plan includes $40 million in mixed-use development, 180 single-family units, and 1,000 multi-family units.
For project financing, the city will explore issuance of Good Life bonds backed by the existing sales tax generating users, subject to the state’s maximum amount of $5 million.
The anticipated Phase 1 net-to-project bond proceeds plus case on hand will total $77,557,462.
Bond proceeds in Phase 1A will help fund the Eagle Scout Lake expansion, third-party soft costs, Sports Complex construction, Aquatics Center construction.
For Good Life bonds in Phase 1B, the city will explore issuance of Good Life bonds backed by new Good Life District sales tax generators (predominantly Conestoga Marketplace) on June 1, 2027. Anticipated net-to-project bond proceeds plus cash on hand will total $27,651,246. Phase 1B bond proceeds will be spent on cost overruns for the Sports Complex/Aquatics Center (if applicable); mixed-use/housing/soft costs; and a condition that the developer will at all times be at or below the 20 percent of Good Life District proceeds allocated non-revenue producing costs.
The city will explore issuance of a promissory note to Woodsonia in an amount equal to the difference between $140 million and the Phase 1A and Phase 1B net-to-project bond proceeds. Based on the anticipated net-to-project bond proceeds in Phase 1A, and Phase 1B, the developer promissory note would be $34,791,292 and would incur an interest rate of 7 percent on the outstanding balance.
Woodsonia is proposing $15,126,189 in Tax Increment Financing with a 15-year plan.
Woodsonia proposes that the city will explore levying a 200-basis point occupation tax on all sales occurring within the boundaries of the Veteran’s Village project area to be placed in a reserve fund with the city and used at the city’s discretion for future maintenance and reserve expenses relating to the Sports Complex and Aquatics Center.
Woodsonia is proposing single land conveyance of the sale area on March 1, 2026, for $1. The city will retain ownership of Eagle Scout Lake, the existing Sports Complex, expanded Sports Complex (indoor and outdoor components), and Aquatics Center land.
Woodsonia’s plan includes clawback components concerning what will happen if Woodsonia does not develop the project as presented. If Woodsonia fails to deliver the Phase 1 infrastructure, Sports Complex, Eagle Scout Lake expansion, amphitheater, 250 multi-family units, 20 single-family units, hotel, restaurant, and one additional commercial user within five years of closing, Woodsonia will convey any areas of the sale area which have not commenced construction back to the city for $1.
Subject to the minimum bond proceeds of Phase 1A $27,651,246 and Phase 1B $77,557,462, if Woodsonia does not complete at least one additional commercial user and an additional 250 multi-family and 20 single family units by 2035, Woodsonia will forfeit all remaining Good Life District funds allocated for Phases 2 and 3 of the project, convey any remaining undeveloped land back to the city and terminate any unactivated TIF project areas.
In no event will Woodsonia deliver more than 100 multi-family units and 20 single-family homes on a cumulative annual basis.
Woodsonia wants to work with the city to prepare final draft documents to present to the City Council that are necessary to finalize the proposed project.
“Woodsonia proposes a target for completion of Next Stage Documents by Jan. 23, 2026, with a target for completion of draft documents related to issuance of Good Life District bonds of Feb. 22, 2026,” Woodsonia’s plan said.
