Match requirements, limitations and uses relaxed for civic center fund

A retooled Local, Civic, Cultural and Convention Center Financing Fund will provide larger grants with reduced local match requirements under a bill passed on final reading April 20.

The fund is supported by a turn-back of 30 percent of new state sales tax generated by arenas constructed under the Convention Center Facility Financing Assistance Act and the Sports Arena Facility Financing Assistance Act and retailers near the arenas. Grants from the fund are awarded to communities based on the project’s readiness, financial support and likelihood of attracting new activity to Nebraska.

LB297, introduced by Fullerton Sen. Annette Dubas, renames the fund as the Civic and Community Center Financing Fund and changes the purpose of the fund from supporting projects that attract new civic, cultural and convention activity from outside of Nebraska to supporting projects that foster maintenance or growth of communities.

The bill also reduces the cash match required of local funds from 80 percent to 50 percent. In addition, language prohibiting the use of fund assistance for planning is eliminated, planning is added as a criterion for project selection and libraries are added to the list of eligible projects.

The bill also will adjust the maximum grants awarded under the act if the balance of the fund reaches $2.5 million. Until the fund recedes below $1 million, the maximum grants for cities will be:

• $2.25 million instead of $1.5 million for primary class cities;
• $1.125 million instead of $750,000 for cities with a population between 40,000 and 100,000;
• $750,000 instead of $500,000 for cities with a population between 20,000 and 40,000;
• $600,000 instead of $400,000 for cities with a population between 10,000 and 20,000; and
• $375,000 instead of $250,000 for cities with a population less than 10,000.

Lawmakers passed LB297 on a 46-0 vote.