Kearney's city council has taken a major step toward a high-tech future. The council approved a $1.7 million promissory note to pay for a 53 acre addition to the Tech One Crossing industrial site. The site will enjoy reduced electricity rates, and has the potential to attract major technology employers.
The promissory note was issued to cover funds not included in this year's budget for the city.
City Manager Mike Morgan: "Kearney was a community that was chosen by the state to serve potential economic purposes for development of a tech park, and this acquisition gives us some additional flexibility to look at various sized projects or multiple projects in that area while we continue to serve it with infrastructure necessary."
The promissory note will be paid off with revenues from a special city sales tax.