2020-08-21 Affidavit of Publication Proposed Use of Community Development Block Grant1:17:\ii�11C� C _ �1r�1� t��►1
State of Nebraska, County of Washington
Chris Rhoades, Being by me first duly sworn,
deposes and says that he is the Associate Publisher
of the Enterprise , a legal weekly newspaper
published at Blair, in Washington County,
Nebraska and of general circulation in said County
and State: that said newspaper has a bona fide
circulation of more than 3000 copies weekly, in
said County: and has been published in said County
for more than 52 successive weeks prior to the first
publication of the attached notice, that the attached
notice was published in said newspaper for 1
consecutive week(s) being the issues of.
August 21, 2020
As ublisher Signature
Su, scribed in my presence, and sworn to before me
this 21st day of August, 2020.
Notary Public
s GENERAL. NOTARY - State of Nebraska
N9 Tracy A. Prettyman
My Comm. Exp. Sept. 10, 2021
Printers Fee For Publishing This Notice
$
28.64
Preparation of Affidavit and Billing
$
0.00
Notary Fees
$
0.00
Copy
$
0.00
25% discount for minutes
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0.00
TOTAL
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28.64
City of Blair
CDBG Re -use Revolving Loan Fund
25 August 2020 Public Hearing Information
(A) Proposed Project
Sai Properties V Inc. is requesting a loan from the City of Blair's Community Development Block
Grant (CDBG) re -use fund in the amount of $180,751 to develop a Holiday Inn Express.
As part of the project, the Omaha -Council Bluffs Metropolitan Area Planning Agency (MAPA) would
receive $9,500 from the re -use fund to service the loan and aid the city in ensuring that the project
is in compliance with CDBG program regulations. All loan payments made by the business would be
made to the MAPA Nonprofit Development Organization. Under this arrangement, funds can
become "de -federalized" and made available in a regional pool unencumbered by federal
regulations.
The total of the proposed loan and CDBG administration expense would obligate the current
balance of re -use funds ($190,251), which will effectively discontinue the city's CDBG re -use
program per directive of the Nebraska Department of Economic Development.
(B) Project Location
The location where the proposed project is to occur is located on a parcel of land bordered by
Washington Street/Hwy 30 to the north, Grant Street to the south, NE V Street to the east, and S
4th Street to the west.
(C) Project Cost
The total estimated project cost is $7.0 million. Sources of financing include:
$180,751 CDBG Re -use (plus $9,500 admin fee to MAPA)
$800,000-$1,000,000 Tax Increment Financing
$400,000 LB -840
$1,750,000 Owner Equity
Remaining balance to derive from bank/conventional financing
(D) Use of Loan Funds,U"u,
la 44,
The city proposed to lend $110,751 for ' re pfteland $70,000 for
(E) Date Loan Funds to be Released
Loan funds shall be released upon loan closing and receipt of required collateral. Loan repayments
will be due monthly beginning three months after closing.
G�
The city proposes to lend $110,751 for land acquisition at o interest for 10 years (120 months)
and $70,000 for working capital at O� V interest for 7 years (84 months).
(F) Project Beneficiaries
The business will be obligated to create seven full-time equivalent (FTE) positions with no less than
51% of positions being offered or made available to persons from low- and moderate -income (LMI)
households. Positions must be created within twelve months of expenditure of program funds and
be maintained for a total of 12 months following achievement of the job creation performance
target.
(G) Miscellaneous
An environmental assessment will be completed by MAPA prior to loan closing and release of funds.
The environmental review record will be on file at Blair City Hall upon commencement of the
mandatory 15 -day public comment period.
No displacement of persons or businesses will occur as a result of this project.