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Council approves TIF assistance for proposed restaurant near Kearney Welcome Center
Summary
Council approved Resolution 2025‑132 to grant 100% of annual tax increment for up to 15 years for a one‑story restaurant submitted by Talmadge Jam LLC in Redevelopment Area #8, citing an estimated $2.6 million valuation increase and $859,975 in eligible expenses.
The council considered a redevelopment application from Talmadge Jam LLC for a one‑story restaurant in Redevelopment Area Number 8, located south of the Kearney Welcome Center and east of the Sportsplex. Brian (presentation identified by the agenda) introduced the project; city staff reported an estimated post‑project valuation increase of roughly $2.6 million and identified $859,975 in estimated eligible expenses for the project.
Staff recommended granting 100% of the annual increment in real estate taxes up to the certified eligible project cost for a period not to exceed 15 years beginning with tax year 2026. The council adopted Resolution 2025‑132 granting authority to negotiate and execute a redevelopment contract with Talmadge Jam LLC.
