Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Workforce Housing topic
No spam. Unsubscribe anytime.
Council approves $925,000 TIF for 24-unit workforce housing at 611 Kerry Ave
Summary
The Grand Island City Council approved a $925,000 tax-increment financing package to support a 24-unit apartment project at 611 Kerry Ave intended to house MMN Express employees; contracts and final documentation will follow council approval.
The Grand Island City Council on Nov. 18 approved a $925,000 tax-increment financing (TIF) request to support construction of a 24-unit apartment building at 611 Kerry Ave intended as workforce housing for employees of MMN Express.
Paul Yonas, owner of MMN Express, told the council the proposal is designed to help recruit and retain staff, saying, "We're trying to recruit employees to come to work into Grand Island." City staff told the council the project would include 18 one-bedroom and six two-bedroom units and that the Planning Commission and the Community Redevelopment Authority recommended approval.
City staff estimated the project would generate slightly more than $1 million in incremental tax revenue over 15 years, saying that the requested $925,000 should be paid off in less than that 15-year period depending on property-value changes. After the hearing closed with no public opposition, Council member Hosy moved to approve resolution 2025-399; Council member Brown seconded and the motion was adopted by voice vote.
Council member Hosy praised the applicant for requesting only the amount needed, saying he appreciated "putting it together the correct way and asking just for what you need." Yonas said his company plans to subsidize utilities and furnish units to keep rents low for employees.
Next steps include staff preparing contracts and related documents to allow site work and construction to proceed, as noted by the city.
