The Mayor and City Council having been so authorized by the voters of the City of Grand Island hereby establish a Good Life District Economic Development Program as authorized by the Good Life District Economic Development Act.
The purpose of this chapter is to effectuate and implement the voter authorized program which will fulfil the purposes set forth in the Good Life District Economic Development Act (“Act”) within the boundaries of any approved Good Life District in the City of Grand Island.
The Program shall leverage the authorities contained in the Act to promote and develop the general and economic welfare of the City of Grand Island and the State of Nebraska by providing support for unique and transformational projects that will strengthen our community, grow our economy, and strengthen our retail, entertainment, and tourism industries.
The Program recognizes the ability to use transformational development to improve the economic well-being of our citizens and our community through job creation, infrastructure, and other improvements that attract and retain tourists and college graduates from around the state.
The Program will focus on transformational and unique projects that generate new economic activity, expand the tax base and generate additional state and local taxes, create new economic opportunities, housing and jobs for residents, and promote retail, entertainment, and dining attractions.
This Program shall remain in effect until June 5, 2054, or until terminated by the City as permitted by Neb. Rev. Stat. § 77-4412(7), whichever occurs first.
The City of Grand Island, by passage of this Article and establishment of the Program, recognizes the promises made by the Nebraska Legislature in LB1317, as codified in Neb. Rev. Stat. § 77-4429, that the State of Nebraska has pledged that the State will not alter, impair, or limit the rights vested in the Act until such time as any authorized bond, together with applicable interest, are fully met and discharged and such contracts are fully performed in accordance with the Act, and the City acts in reliance on this assurance in so establishing the Program.
(Added by Ord. No. 9983, effective 09-03-2024)