Rod Yates, owner/operator of Nebraska Crossing outlet mall. Promoters said that Nebraska loses an estimated $1.6 billion a year in “retail leakage” to other states and that a proposed 1,000-acre expansion of Nebraska Crossing would keep shoppers in the state and lure youth sports tournaments now held in other states.
Yates at one time was involved in the multimillion-dollar transformation vision for Omaha’s Crossroads mall, but his business partner ended up joining forces with a different developer.
GRETNA OUTLET MALL PROFESSIONAL
Such state-backed bonds, financed by sales tax revenue, provided $450 million toward the development of the Legends area in Kansas City, Kansas.īesides more than 75 outlet stores, the Legends area is surrounded by several other attractions, including stadiums for professional soccer and minor league baseball teams, a waterpark, the Kansas Speedway and a Nebraska Furniture Mart store. Rod Yates, the owner and developer of Nebraska Crossing, said that LB 692 is somewhat similar to “STAR bonds” - sales tax anticipation revenue bonds. Various areas of the state could qualify, but testifiers for the bill Wednesday focused on the area of the Interstate 80 interchange with Nebraska Highway 31 at Gretna.
Her Legislative Bill 692, the “Good Life Transformational Projects Act,” would help finance such huge developments by devoting up to half of the state’s 5.5-cent sales tax revenue in the district for development expenses. Lou Ann Linehan of Elkhorn (Courtesy of the Unicameral Information Office) “This legitimately could be a game changer,” said State Sen. “This could change Nebraska’s image as a fly-over state,” Gretna Mayor Mike Evans told the Legislature’s Revenue Committee. Such a development - a proposed 1,000-acre expansion of the existing Nebraska Crossings outlet mall in Gretna - could include new-to-Nebraska retailers such as Ikea and Nordstrom’s, hotels and waterparks, as well as fields to host regional soccer and baseball tournaments. LINCOLN - Developers joined a state senator on Wednesday in seeking state help to create a “destination” retail-sports-entertainment complex that would rival “The Legends” area in Kansas City, which draws 15 million visitors a year.
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