Grand Island sets special election for economic development district on August 13
A special election will take place in August in Grand Island that could help fund a development within the city's Good Life District.
June 18, 2024Updated: June 18, 2024
By News Channel Nebraska
By News Channel NebraskaGRAND ISLAND, Neb. -- A special election will take place in August in Grand Island that could help fund a development within the city's Good Life District.
At a special city council meeting Tuesday evening, council members approved calling a special election to use tax money to help fund the $550 million Good Life District project proposed by developer Woodsonia.
Grand Island Mayor Roger Steele said it doesn’t generate any new tax; it simply allows the city to capture the tax the state is giving up.
“I think if the people approved of this it will be transformational for the city of Grand Island. We can do wonderful things with this program,” said Steele.
In a Good Life District, the state sales tax rate is cut in half from 5.5% to 2.75%. The election will ask voters whether they want to create an economic development district that replaces the reduced state tax with a local tax. That money would then help fund the development.
According to the Department of Revenue, if the Grand Island Good Life District existed in 2023, the city could have recaptured 2.75% or nearly $8 million from existing retail sales in the recently approved boundaries.
The mail-in election ballots will be due on August 13. This will be the first election of its kind in the state of Nebraska.