Prospective business owner gains LB 840 loan from city

    Heather Johnson of Imperial, who is in the process of purchasing M & M’s Natural JAZ, gained some financial help from the city Monday when council members approved an LB 840 loan.
    The $85,000 loan will come from accumulated city sales tax money in the LB 840 economic development fund.
    The council’s vote on awarding the loan was unanimous, after the request also gained earlier approval from the city’s Loan Review Committee and the Citizens Advisory Committee. Any LB 840 loan request must go through those two bodies first before the council considers it.
    The loan is to be paid back over 15 years at 2% interest.
    Johnson was at Monday’s meeting and said she is in the process of buying the restaurant at 617 Broadway, and wants to see the established business continue.
    Current owners Mike and Marcy Nesbitt opened the business 27 years ago, and celebrated M & M’s 25th year in 2019.
    Johnson, who has been working at the business, said they anticipate the change of ownership to occur in January.
    Tyler Pribbeno, Community Development Director who manages the LB 840 program and the sales tax funds, said he believes the city is well-secured with the loan.
    He said he felt comfortable being second on the loan security documents, behind Adams Bank & Trust, which is also loaning Johnson money for the purchase. Pribbeno said the Loan Review Committee didn’t feel it necessary to place a lien on her personal residence.
    Johnson said she has been involved in the restaurant business off and on since her teen years.
    She said she has an agronomist background, and will be mentored by Marcy Nesbitt during the transition.
    The name of the restaurant will change, she said, since M & M’s Natural JAZ has a personal tie to the Nesbitt family.
Other business
    The council spent some time discussing possible purchase of a 30 x 60 foot portable ice skating rink with potential location north of the library.
    A motion never was offered, however, for purchasing the $4,790 rink suggested by Clerk/Administrator Jo Leyland. She said community development city sales tax money could be used for its purchase.
    Council members Chad Yaw and Craig Loeffler both said they were concerned with purchasing this ahead of the work on Schroeder Park’s fields.
    Pribbeno noted there would be replacement costs every two to three years for the rink’s tarp. There were also questions on where it would be stored off-season and who would take care of it.
    After earlier Variance Board and Planning Commission approval, the council Monday gave its 4-0 vote on a Sunrise Addition replat. The 0.6 acre piece of ground being placed in a separate lot is owned by Bill and Julie Brophy on which Gigabit’s central office is located. Bill Brophy, a Gigabit co-owner, said their lenders prefer the property be in Gigabit’s name.    
    Two trailers at 1109 Shorthorn and 402 East 11th were impounded in place with a 4-0 vote. The action allows the city to take title to the trailers, both of which have been declared nuisances and then abated. Once titles are gained, the city can remove the trailers.
    In other action, the council approved a $338,700.60 payment to Nielsen Contracting of Kearney for work on the Holland and East 2nd Street paving. Public Works Supt. Pat Davison said they are nearly finished, and were pouring sidewalks this week.
    The roof above the city offices will be replaced after water damage earlier this year. Weathercraft will complete the work at a cost of $33,000. Also bidding was Schultz Construction at $40,000.
    Charlesa Kline was re-elected council president, and several mayoral appointments to city boards were approved.
    Reappointments were:
    Library board—Joann Wenzlick, Jan Graham.
    Park board–Jason Speck.
    Cemetery board—Becky Carman, Mary Lou Hegwood.
    Planning Commission—Doug Carman, Galen Meeske.
    Variance board—Launy Ringleman, Jason Banks (alt.)
    Theatre board—Sherri Wheeler, Amy Leibbrandt, Malachi Christensen (youth).
    Senior services board—John Arterburn.
    Community Redevelopment Authority—Doug Gaswick, Russ Pankonin.
    Citizens Advisory Committee—Derek Russell. Chris Lee is a new appointed member, replacing Joe Weiss.
    Mayor Dwight Coleman said he has several other board positions to fill.