The Wording

N4VB, a Nebraska nonprofit corporation, and the City of Lincoln, Nebraska, propose to establish a volleyball sports complex economic development project by appropriating annually from state assistance received by the City pursuant to the Sports Arena Facility Financing Assistance Act for the purpose of funding a volleyball sports complex to be owned by N4VB, and related infrastructure improvements, which may include financing of the privately owned sports complex through the issuance of revenue bonds to be repaid
from such state assistance. 

Shall the City of Lincoln, Nebraska establish a volleyball sports
complex economic development project as described above by
appropriating annually from state assistance received by the City pursuant to the Sports Arena Facility Financing Assistance Act?

I vote FOR authorizing the City to establish a volleyball sports
complex economic development project and appropriate state
assistance to such project.

I vote AGAINST authorizing the City to establish a volleyball sports complex economic development project and appropriate state assistance to such project.

Electors voting in favor of the proposition shall blacken the oval
opposite the words “FOR” following such proposition, and electors voting against such proposition shall blacken the oval opposite the words “AGAINST” following the proposition.
If a majority of the votes cast upon such question shall be in favor, then the governing body of the City of Lincoln shall be empowered to establish and implement a sports complex economic development project and appropriate the state assistance upon the terms and conditions contained in the Sports Arena Facility Financing Assistance Act.

Our Explanation

A few years ago, a economic development idea was invented called "turnback tax."  When a convention center, or a sports complex is to be developed, the state can "turn back" a portion (up to 70%) of sales tax collected at the area around the site (within 600 yards) toward the funding of the project.  Recently, LB803, titled "Change provisions relating to the listing of taxable tangible personal property." It was a massive bill covering several topics and included changing "provisions relating to the Sports Arena Facility Financing Assistance Act."

The city of Omaha is doing a soccer complex and will use the "turnback tax" system without having to ask for voter approval because it will be owned by the city.  This sports complex idea for Lincoln requires voter approval because it will not be under a government agency for management/ownership.  The non-profit N4VB (Nebraska for Volleyball) will be receiving that turnback tax benefit for helping cover the cost of buiding.

There will not be an increase in property tax, since sales tax is what is used in turnback tax.  There is a high expectation that this volleyball complex will generate a great deal of income from those who come from out of state.

N4VB has a website explaining the non-profit's perspective.

Those who support the idea point to the potential revenue and value to sports enthusiasts from other places as well as caring for children in need.

Those who oppose the idea are mostly concerned with how accountability for the use of state funds will be managed.

Other resources:  An August Nebraska Examiner article.