ROD YATE'S MEGA DEVELOPMENT CREATING BUZZ, ISSUES FOR NEBRASKA LAWMAKERS

LINCOLN- While the Nebraska Legislature still molds the specific rules and incentives for Good Life development districts, Rod Yates, a Nebraska-based developer, is already eyeing a location south of Gretna. Some lawmakers even argue that the proposed incentives for these districts are too generous.

"We can't cut our feet out from underneath us by giving all this money away, by cutting our sales tax in these Good Life Districts," said Sen. Justin Wayne. Should the Gretna-area project be approved, the Nebraska Legislature's fiscal office estimated last year that the state would turn back $4.8 million in sales tax to developers. diverting half of the state's sales tax revenue to Good Life district development costs.

If Yates succeeds in his plan to develop the area south of Gretna, he estimates it would eventually generate $2.2 billion in retail sales per year. At that level, the state would be steering as much as $60 million a year to subsidize the development. However, those estimated amounts depend on whether Yates succeeds with his project, which has already been approved by the Nebraska Department of Revenue under the Good Life Transformational Projects Act passed last year.

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