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Council approves application to seek state 'turnback' sales tax for proposed North Lincoln volleyball complex
Summary
The City Council unanimously approved a joint application with Nebraska for Volleyball (N4VB) under the Sports Arena Facility Financing Assistance Act to seek turnback sales tax and authorize revenue bonds; city officials said the city would act as conduit for roughly $14 million in proposed bonds and would not be the obligor.
The Lincoln City Council voted 7-0 to approve a resolution allowing the city to submit a joint application with N4VB (Nebraska for Volleyball) to the state under the Sports Arena Facility Financing Assistance Act and to call for an election if the application receives conditional approval.
Dan Marvin, director of urban development, told the council the application requests turnback sales…
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