Sanctuary Apartments, LLC Seeking TIF, More Discussion Needed On Lake Development And Sales Tax Items

WAYNE – A few discussion items will be addressed following a public hearing pertaining to the renovation of First Baptist Church during the regularly scheduled Wayne City Council meeting.

From the council chambers inside City Hall, the Tuesday night meeting will begin at 5:30 p.m. with a public hearing on a Redevelopment Plan for Sanctuary Apartments, LLC. The group is requesting tax increment financing (TIF) for the project to renovate the church into a six-unit market rate apartment complex for downtown living. The current property is located at 400 Main Street.

The total estimated project costs are between $1.2 and $1.4 million as the redevelopment of the project is not economically feasible without assistance from tax increment financing. The Community Redevelopment Authority will issue a tax increment revenue bond in the total amount of $175,000 to assist in the financing.

The estimated 2020 assessed value is $100,000 while the estimated value after completion of this project is $1,100,000. The site plan submitted for the Sanctuary Apartments shows the public sidewalk being relocated to the back side of the curb to allow for parking.

If the Council would approve this redevelopment plan, they’ll also be recommended to approve the relocation of the public sidewalk to a location other than what is prescribed in code to allow room for the required parking

Some wordage on the Interlocal Cooperation Agreement between the City of Wayne and Wayne Community Schools will be changed during the meeting pertaining to the number of official participants attending the meetings.

Other resolutions include accepting a bid and awarding a contract on the “College Hill Park Trail Head Project” (now called Freedom Park, approved earlier this month) along with approving plans, specifications and contract documents for the “2022 Aquarius Tank Diffuser Replacement Project”.

More discussion will be had on lake development of the lagoon property as the next step for the old lagoon is to locate the lake as well as determine the size and source of water.

Councilmembers will then discuss further on sale tax as the group will need to determine no later than its February 15 meeting on what ballot language will be submitted regarding local option sales.

Besides the additional half cent to upgrade/add onto the Community Activity Center, the Wayne City Council can approve ballot language to renew a part or all of the existing sales tax. Currently, one cent goes for Capital Improvements (60%) & LB 840 (40%), and the remaining half cent goes to paying off the swimming pool bonds. The one cent sunsets in June 2024 and the other half cent sunsets when the bonds are paid off (estimated in the fall 2024).

Items Council has discussed in the past include: LB 840, land purchases/land development, parks and recreation projects, indoor swimming pool, lagoon development as well as capital improvements generally and specifically (i.e. police vehicles, fire trucks, streets).

An update on a police litigation matter will also be addressed towards the end of the meeting.

Council is also passing along an invitation reminder for the Wayne Area Economic Development “Housing Summit” on Tuesday, January 25. This event will be held at the Wayne County Club from 5:30 – 7:30 p.m.