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• Contacted Bosselmans regarding land and ask if he would donate 11 acres of <br /> land <br /> • Started with a large facility of 12 court but have now 6 full sized basketball and <br /> 12 volley ball court but there is addition room to expand <br /> • Want to make sure that it will be sustainable he noted other activities i.e. dance <br /> cheer and wrestling <br /> • It will have field turf and batting tunnels <br /> • They have raised just under 9 million and are looking for sponsorships <br /> • LB 39 is the sales tax turn back creates a 600 yard district around the sport <br /> complex and in the 600 yards around it they can collect 70% of the sales tax that <br /> is generated <br /> • LB 39 requires to partner with a government subdivision for the revenue bonds <br /> for this project have a finance group out of Boston that will run the facility they <br /> are asking the process regarding the revenue bonds and the possible sales tax in <br /> the district. <br /> • He noted that if a new hotel or restaurant would be developed they could get <br /> some of the new sales tax generated in that district noted the business <br /> • there is also another 25 acres of land that they are in negotiations for additional <br /> land <br /> Lancaster wanted to share with the board. Bosselmans and Pinnacle Bank are willing to <br /> participate. Last year someone came to the board for the bank qualified financing so <br /> they may also request these. The county has no financial responsibility in this the <br /> governor would also have to approve this because of the LB39 sales tax. There is a 5 <br /> member panel that has to approve this project. They have to have a government entity <br /> to support the revenue bonds and the state has to approve the project also to use the <br /> sales tax by back these are bank qualified revenue bonds. <br /> They would use 70% of the sales tax that would generated to pay off the bonds. These <br /> would be bank qualified revenue bonds they would request a maximum of$10 million. <br /> They wanted the county to be aware of this project because they may come back and <br /> ask the county for the bonds. This is a two way partnership. There will be a sport group <br /> to operate the facility. <br /> Lancaster said there is no action at this time. <br /> Chair Peterson called for any questions. He said he is aware of this he did a lot of <br /> traveling with his kids. <br /> Richardson also said her girls were traveling or sports also it is needed. She stated that <br /> her husband is on the board so she will be abstaining on this. <br /> 4 <br />