Opens door for housing development

SIDNEY -- The Sidney City Council amended an agreement expected to result in more housing construction.

"What I bring to you today is an amendment to the  redevelopment agreement, as well as that resolution. This is between the Community Development Agency and the Fort Sidney Development, LLC. Previously, on January 22, 2008, the City of Sidney Community Development Agency entered into a redevelopment agreement with Fort Sidney Development Group, LLC. The agreement deemed to facilitate the development of the Prairie Wind Subdivision, using Tax Increment Financing," City of Sidney Finance Director Lane Kizzire said in a recent city council meeting.

Fort Sidney Development Group successfully developed the infrastructure for 75 residential lots within the Prairie Winds Subdivision. The Prairie Winds Subdivision includes homes and apartments west of Fort Sidney Road and north of Toledo Street/Pole Creek Crossing.

Kizzire said only 19 houses were initially built. There are 55 developed lots that can be built on, he said.

He added that the City received a proposal from an organization seeking to leverage the TIF to erect 15 single-family homes. He said the organization chose Prairie Winds as the favored location to build these homes. 

"Despite the current TIF schedule, extending to Dec. 15, 2024, the organization would like to commence construction ahead of that time line. At this time, the Fort Sidney Development Group is in the process of selling 11 lots within that subdivision to the developer," Kizzire said. 

He said an essential step facilitating this transaction involves amending the existing development agreement to permit the removal of the 11 lots from the original TIF agreement. He said he expects to present a new redevelopment agreement with the organization with the CDA in the future. 

The city council approved the proposal 5-0.