BEATRICE – There’s some movement on what to do with a historic multi-story building in the center of Beatrice, which has been vacant since an assisted living company pulled out of the community several months ago.


Beatrice elected officials have approved an agreement with a developer to help seek financing for using the Kensington….the former Paddock Hotel which is on the National Register of Historic Places.


The agreement is with Hoppe and Son, LLC, part of a development company that works with downtown affordable housing. City Administrator Tobias Tempelmeyer said the city would assist the developer in seeking financing for a project.


"Basically we're going to give them the property but it's contingent upon a couple of things. One, they have to find gap financing. They're going to look at housing trust funds, at TIF, rural workforce housing...those types of things that are out there. The agreement is good for one year...but Hoppe has to submit for historic tax credits by July 1st of next year....and they have to secure an allotment by November 6th of next year."


The city council approved the transfer of property to Hoppe and Son for one-dollar. The property had been in the possession of Main Street Beatrice. Tempelmeyer says it will take time and money for the developer to apply for historic tax credits. Councilmen Terry Doyle and Mike McLain say the agreement is a step forward in trying to find a new use for the structure at Sixth and Court.


{Doyle) "It's just important that the public knows we're doing everything we can do right now....we just need money...we're doing everything else that needed to be done...so I appreciate everybody's work on that"...(McLain)..."and I think this company has been very interested in the building since the start of it. They've looked at it several times. I think it would be great for downtown redevelopment that this moves forward and gets across the finish line."


In another matter involving property, a company has exercised an option it secured on industrial land with the City of Beatrice. Radiant Tech LLC will purchase two-and-a half acres of property at the northwest corner of Industrial Row and Centennial Drive, for $37,500.


The site is where a computer facility will be constructed that will be a part of the crypto currency industry. It’s expected to be a large user of electric power.