The Lincoln City Council Monday approved nearly $1.3 Million in Tax Increment Financing for the Lincoln Sports Complex. The 80-thousand square foot complex is planned for Southwest 14th and West O Streets. It’s slated to contain basketball and volleyball courts and training facilities.
The total cost of the facility will be nearly $12 Million, with the developer’s investment The tax increment financing allows the developer to use the future value of property improvements to pay for parts of the project considered key to municipal or public infrastructure.
During Monday’s discussion it was revealed that a key traffic study had been omitted as City staff recommended approval and negotiated details of the re-development agreement. Council members debated at length the question of whether the City’s taxpayers or the developer would be required to pay for any improvements required by the traffic study. In the end, after several attempts to leave them as the developer’s responsibility, and then to split the costs between the city and the developer, they were left up to the city. “The benefits of this project far outweigh the cost of any traffic improvements” said City Council Chair Roy Christensen.
Council members praised plans for the new sports complex, saying it would be a substantial improvement to the area, a benefit to families and youth, and make economic development possible by attracting Sports Tourism. Despite substantial debate, the project was approved 7-0.