The following terms shall have the following meanings when used in Chapter 38, Article II (Sections 38-12 through 38-22):
Act shall have the same meaning as the Good Life District Economic Development Act.
Applicant shall mean any applicant for Program Funds.
Bond has the same meaning as Neb. Rev. Stat. § 10-134.
City shall mean the City of Grand Island.
District shall have the same meaning as Good Life District.
Eligible Costs shall mean: payment and reimbursement of (a) the costs of acquisition, planning, engineering, designing, financing, construction, improvement, rehabilitation, renewal, replacement, repair, landscaping, irrigation, and maintenance of privately and publicly owned real estate, buildings, improvements, fixtures, equipment, and other physical assets within the Good Life District and debt service on such real estate, buildings, improvements, fixtures, equipment, and other physical assets, (b) the costs of construction and acquisition of publicly owned infrastructure and publicly owned property rights within or related to the Good Life District, (c) the costs of development, acquisition, maintenance, and enhancement of technology assets to include hardware, software, and related intellectual property, if the initial exclusive use of such property is in or related to the Good Life District Program Area, (d) the costs of marketing, tenant improvement allowances, and tenant and customer acquisition and retention, and (e) city costs related to implementing, operating, and funding the Program.
Fund shall have the same definition as Good Life District Program Fund.
Good Life District Applicant shall mean the person who applied for the Good Life District as approved by the Department of Economic Development.
Good Life District Economic Development Act shall mean the Act as in effect on August 13, 2024.
Good Life District Economic Development Program means the Good Life District Economic Development Program established pursuant to Ordinance No. 9983 of the City pursuant to the Act, and codified in Chapter 38, Article II, of the City Code, to utilize funds derived from local sources of revenue for the purpose of paying eligible costs, and for paying the principal of and interest on bonds issued pursuant to the Act.
Good Life District Occupation Tax means the occupation tax as described in Section 38-16 of the City Code.
Good Life District Program Area means the area provided in Section 38-13 of the City Code, established pursuant to the Act for the Program which shall include all property within the Good Life District, and expanded as provided in such Section 38-13.
Good Life District Program Fund means the fund established and described in Section 38-18 of the City Code.
Good Life District shall mean the District established by the State of Nebraska within the City pursuant to the Good Life Transformational Projects Act and shall include any land added to the District by the State of Nebraska after its initial approval, as authorized by the Act.
Legislative Findings shall incorporate the findings made in Neb. Rev. Stat. § 77-4409 as in place on August 13, 2024, and shall include the findings of Council contained in Ordinance No: 9983.
Local Sources of Revenue means the sources of revenue established for the Program, revenue generated by and through the powers of the Act, and any revenue generated from grants, donations, or state and federal funds received by the City for the Program, subject to any restrictions of the grantor, donor, or state or federal law. Excepting that no property tax revenue generated within the District shall be considered a Local Source of Revenue eligible for appropriation into the Program.
Occupation Tax shall mean a Good Life District Occupation Tax as established by the City of Grand Island.
Program Area shall have the same meaning as Good Life District Program Area.
Program shall have the same definition as Good Life District Economic Development Program.
Project(s) shall mean any project within the boundaries of the District which is in compliance with the Act and this Program except that project shall also include publicly owned infrastructure necessary to support economic development within the boundaries of any approved District and shall not include any ineligible project or project funded with resources which make it ineligible for Program funding.
Qualifying Business shall mean for purposes of making application for Program funds, any person, entity, corporation, nonprofit corporation, partnership, limited liability company, or sole proprietorship which owns or leases property or operates its business within the boundaries of the District; any person or entity who, as part of their application, demonstrates a plan to own or lease property or operate its business within the District; the person, corporation, or entity, who made an approved application within the District; and the City of Grand Island; and any political subdivision, state agency, or other governmental entity which includes any portion of an approved Good Life District within its territorial boundaries. If a municipal, state, or federal license is required for the operation of a business, a business shall only be considered a qualifying business if they have the required license and maintain that license in good standing.
Replacement Tax shall mean any tax imposed by the City designed to replace the portion of the State Sales and Use Tax reduced by the Act within the boundaries of the District.
Sales and Use Tax shall mean the Sales and Use Tax imposed by the State of Nebraska pursuant to the Nebraska Revenue Act of 1967, as amended from time to time.
State Sales Tax shall have the same meaning as Sales and Use Tax.
Termination shall mean termination of the Good Life District if the conditions set forth in Neb. Rev. Stat. § 77-4406, as in effect on August 13, 2024, are not demonstrated by the applicant, the City of Grand Island, or any other person or if, through the passage of time, the District shall have ceased to exist by operation of law.
(Added by Ord. No. 9983, effective 09-03-2024)